Spot 3 out of 5 common elements of a high probability reversal setup in AUDJPY. Understand why they offer a compelling trade action when all five appear and what to expect of the last two.
ECB Monetary Policy Meeting this Thursday could provide the driver to push EURGBP into a move with conviction. If not, then how the pair closes by end of January should provide a clue for February. This zone is a significant support coming to five months.
Key observations of Wilmar: Price rebounded from 6-year support twice in 2017. Printed new 52-week highs in 2016 and 2017. Last week bullish expansion over last 6 weeks of 2017.
DXY bulls are happy as long as the index stays above this prominent 2-year support. Bears however have their signal. It is now a matter of time while the index does it’s usual zig zag before the inevitable happens. The signal for DXY to go lower in 2018 is already in place.
XAUUSD is setting up a potential breakout if this triangle formation is valid. Gold bulls’ wait could be over soon in this sequence 1. break trend line 2. break strong resistance 3. new high.