EUR/JPY CYCLES UPDATE Part1

[rufffen]

OK, running total so far is

EUR JPY SL hit -45
EUR CAD TP hit +105
EUR USD TP hit +46
EUR AUD TP hit +92
AUD/NZD -76
AUD/USD -12

Majors got stopped out at asian (CHF EUR CAD), stop was at BE as I advise to move it in as soon as the trade runs +10/+20

Overall not impressed this week, seems as though Im out of sync with the markets.

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no more setups till next week.

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MAJORS MID-TERM UPDATE:

EUR USD

This one item looks like topping action, can't break the previous double top as of yet, however Id like to see topping at 2980-3080 area before jumping short for a major reversal.

GBP USD

Looks like a top, but true top likely to be reached within 9240-9320 area within next 5-8 days. This would represent an excellent areas to load up shorts.

USD CHF

CHF testing recent lows and it doesn't look like they will hold out, Id say once 2200 goes, we could test lower lows around 2000 area, from that point onwards this pair will make a big move NORTH and reverse for good.

SO all in all I don't feel comfortable trading the current range, as I think it's easy to get squeezed in the range and loose much money. Id recommend to wait for a true top and load shorts from the TOP.

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NEW SETUP USD JPY

Looking like a nice setup, USD JPY SELL SELL WINDOW 115.65-115.85 SL 116.10 TP114.60

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XAU SPOT GOLD AUGUST BUY/SELL ZONES

As the SPOT GOLD enhoyed high volumes and volatility lately, here's an update for BUY/SELL zones for this month.

BUY1

536,1140
564,0000
BUY2
591,8860
600,5000
SELL1
673,5000
682,1140
SELL2
710,0000
737,8860

Id recommend to wait for price to reach SELL1/SELL2 and look for candle reversal pattern before attempting any shorts on that item.

[rufffen]

Currently 650-654 on SPOT GOLD represents major resistance area, if that one is broken Id expect prices to rally towards SELL ZONE1 real fast.

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XAU SPOT GOLD UPDATE

This badass item loves to rally on the MidEast news, to cool off, wait for 672 area, SELL AREA IS WITH SL JUST ABOVE 682 TP is 630-642

SELL1

673,5000

682,1140

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EUR USD 1 hour EW count update - looks like more upside to come