The Eur/Nzd pair seems to be consolidating forming a consolidation flag on the daily that may break out in a bullish direction. The Euro however seems to have opened higher especially in the Eur/Usd negating the Monday bearish bar that threatened a change in momentum.I will be watching this pair for a break, a pull back and continuation to enter on the direction of the trend.
With the early morning strength of the Euro I have entered a long on the Eur/Jpy which has formed an indecision candle or spinning top on the the daily off the 21 moving average and the 105 psychological level. My target is the 107 level or the 50 day moving average that may be a resistance.
The Aud/Jpy might also see some bullishness crossing over a long term trend line with the formation of a bullish harami above the 50 day moving average.T.P for that one is 80 which is a big round number.
The Antipodes are also showing some strength against the USD which seems to be weaker this morning across the board. The Monday bar that was bearish has been negated by most pairs and they all seem to be moving upwards supported by the 21 day moving average.Target for that is 8050 in the Nzd/Usd.
I am also short on Usd/Cad which is showing some bearish momentum since yesterday with the formation of the big bearish candle from 1.0255.My target for that one is parity which is highly likely considering the fundamental aspects of the pair.
Wish the best trading out there and do your own analysis before engaging the market.
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