FxComment trade setups revision after weekly closing
In this report, we will review the trade setups published on FxComment during the week.
1-EURJPY: Previous report, follow the link http://www.fxcomment.com/?p=12412
Comment: Market remains bearish and the CD leg of the harmonic 5-0 pattern is still in progress. Still bearish and traders can close 50% of the quantity used for shorts ahead of the weekly closing.
2-CADJPY: Previous report http://www.fxcomment.com/?p=12421
Comment: We remain bearish with increase in bears’ power. Still bearish.
3-Bitcoin: Previous report http://www.fxcomment.com/?p=12430
Comment: Bitcoin remains bullish and it is still channeling positively. Still bullish.
1-EURJPY: We updated the previous report after forming a bearish engulfing candlestick and we add more shorts. Previous report http://www.fxcomment.com/?p=12447
1-AUDCAD: Previous report http://www.fxcomment.com/?p=12481
Comment: Negative scenario remains intact.
2-CADCHF: Previous report http://www.fxcomment.com/?p=12485
Comment: Support held and we still need to witness a run towards 0.7750.
3-NZDJPY: Previous report http://www.fxcomment.com/?p=12472
Comment: Potential closing below 50% Fibonacci support along with negative signs over daily studies and we remain bearish.
1-EURUSD: Previous report http://www.fxcomment.com/?p=12531
Comment: The situation changed with potential breakout below support point of intersection seen over eight-hour graph. We change our outlook from bullish to neutral awaiting more confirmation.
2-EURUSD, GBPUSD and EURGBP: Previous report: http://www.fxcomment.com/?p=12595
Comment: We covered the EURUSD above and for GBPUSD, the situation becomes critical and those who bought with us earlier on May 12, they can close any open long positions and wait for our next updates.
Nevertheless, the EURGBP outlook remains intact and we see chances fore bearish development.
3-NZDCHF: Previous report http://www.fxcomment.com/?p=12599
Comment: Our bullish scenario is still in play, while the pair continues to flirt with the main resistance levels of 23.6% Fibonacci. A break of which will expose the next resistance. Still bullish.