4 Hour EURJPY

From an Elliott Wave perspective that EURJPY looks about as close to perfect as you're going to get. This offers up at great risk/reward ratio, so I'm jumping in short with the stop just above the wave ii (circle) high.

GBPUSD Update

Here's an closeup of cable from yesterday

GBPUSD 1 HOUR

Aussie Looking Weak Across the Board

YAussie pairs look weak across the board, along with the euro and pound which I posted yesterday. If my AUDJPY count is right, this puppy is setting up for some big selling ahead.

The daily chart shows that it's been trading in a range for long time so a break of that range to the downside would be ideal for this count. But risk is so tight here at the wave 2 extreme that shorting now is also a viable strategy.

AUDJPY 6 HOUR

Cable Setting up for a Nice 3rd Wave Opportunity

Following the Fed action today, the dollar pullback sharply, but I anticipate that will be fully reversed in short order.  So I'm looking to get long the dollar and the GBPUSD is providing a good opportunity to do so as the Daily and 4hr charts have a nice 3rd wave setting up to decline.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.