Forex Testube

Just a little update for you Ichi traders. Some interesting movement, particularly on the yen pairs. Definately keep an eye on these over the next day or two. A lot of the pairs are ranging, particularly some of the NZD pairs so I would avoid them this week.

Beneath are a few pairs that I will be watching. This doesn’t mean nothing else will qualify it’s just what I’m currently watching closely.

CHFJPY – Has just crossed through the kumo on the hourly in the right direction. Major concerns are important resistance on the daily close by (84.73). Flat bottom kumo on the hourly will try and hold the market up. 4 hourly chart is incorrect.

EURAUD – Hourly is stuck in the kumo and respecting it nicely. At a massive all time low on daily sat nicely beneath the major resistance at 1.5000. 4 hourly is in alignment well too. Will be looking for an entry.

EURGBP - Seems rangy on hourly and near massive resistance.

GBPJPY and EURJPY – Potentially too much risk with nearby resistance. Especially as 4H isn’t in alignment.

GBPUSD - Nice sell entry a couple of hours ago. Can still get in. Good kumo flip in future. Plenty of room to next major resistance on daily (around 1.4579). Only concern is 4H cspan stuck in kumo. There is room within our profit to wait for it to close outside.

USDCHF – No signal yet but potential long. Watch  the flat top kumo. A retrace to it may be a good entry point.