Welcome to weekly market overwiev, where we look for Price Action patterns and/or use Elliott Wave Theory.

You can read more about Elliott Waves here

EURUSD

Currency pair overcome internal support line. We can see three attractive places to open a position. Two of them allow short trades, and the last a long one. Since the move down looks as unfished wave sequence, everything should settle on before mentioned line.

GBPJPY

Chart approached resistance zone. We should wait for proper setup and seek short position entry. We hope however, that another leg up will form and test September highs. Such movement will allow to entry a position with better RR ratio.

EURJPY

Euro to Japanese yen moves close to resistance. Decline and re-testing the level will be an opportunity to open short position. Breaking above will start a stronger upward move, giving a chance for going long.

AUDUSD

Aussie is trading sideways. We may look for short opportunities after re-test of support (broken last week).

EURCAD

In the case of EUR/CAD we are dealing with a test of very important support area. The trend we observe here is clearly upward, so we should look for long opportunities in the first case. Inside Bar that is forming may give proper setup. Breaking below support paves the way to bigger declines.

Error, group does not exist! Check your syntax! (ID: 3)