GJ is slowly correcting lower, and as it breaks the recent low many stops will be triggered. Given the context of weak correction after an explosive Bullish move 2 months earlier, a rejection of this coming break is very likely. Note too that we are in a weak pullback after a strong break above major Weekly resistance – now support.
Any signs of rejection or weakness on the break in the next couple of days is an opportunity to Buy with expectation of Weekly trend continuation.
Individual currencies hardly need any comment, with GBP pushing for a break, while JPY correcting against a Bearish trend. JPY has a chance of reversing the trend in the next couple days and will need to show weakness right about now.
NU is trying to break now triple low on Weekly. There is a good chance it will fail, but the current correction is providing an acceptable price for a Sell entry, on any lower TF signs of weakness of the current Bullish wave.
This is an interesting level to watch on EC – multi year high where P has been rejected on several occasions already. Current Bullish trend is speeding up on Daily and a break is almost a certainly. The question is whether there will be a weak pullback following it, allowing for a Buy entry. The area of green line is a nice price to Buy, but it will be at least a couple more days before this opportunity can be confirmed.
This is very interesting – P rejected from the recent break above the 2 months long range. While Weekly trend remains Bullish, the 2 most recent swings on Daily indicate higher probability of Bearish PA in the short term. Looking for a small pullback to Sell, aiming at least for the first green support.
P continues pushing lower, but the current Bearish wave is much weaker, compared to the previous one. Expecting breakout failure.
Even though P is breaking below the recent range on Daily, Weekly still looks like a potential opportunity to Buy, provided P shows inability to go lower in the next couple days.