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USDCAD has shown strong respect for the key 61.8% Fibonacci retracement level, aligning perfectly with a major resistance zone. The rejection from this level signals a potential completion of the corrective pullback, setting the stage for a bearish continuation towards the lower support, likely completing wave C of the corrective structure. Momentum indicators and price action confirm bearish sentiment, with increasing selling pressure reinforcing the downside bias. As long as the pair remains below the resistance zone, the probability of further decline remains high, making this a strategic short opportunity with a well-defined risk-to-reward setup.

EUR/AUD is testing a critical horizontal resistance level that has triggered reversals in the past, sending price back to the descending monthly support. While the setup remains risky, with the potential for a breakout, the latest candle shows signs of bullish exhaustion, hinting at a possible rejection. Liquidity buildup near this zone suggests that a breakout could lead to a strong impulse move, but confirmation is crucial. A rejection could offer a high-probability short setup, while a breakout and successful retest would validate a bullish continuation.

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GBP/USD is currently respecting a well-defined vertical channel, having completed its Wave 4 correction and rejecting a strong resistance level. The pair has initiated a bearish move, suggesting the potential for an impulsive Wave 5 decline. With sellers stepping in at the channel resistance, momentum favors a continuation toward the ascending support. A clean break and close below minor intraday levels could accelerate the move, while confluence from key indicators like RSI divergence or MACD crossover would further validate the downside bias. As long as the structure holds, the bearish outlook remains intact, with price action dictating the next key move.

Gold Prediction Went Awesome

EURUSD has tested a key horizontal resistance zone multiple times this week, failing to break through, signaling strong selling pressure. The repeated rejections indicate a potential shift in momentum, setting up for a corrective ABC structure. If sellers take control, a break below the recent intraday support could trigger the A-leg of the correction, followed by a B-leg pullback before extending lower toward key demand zones. Confluence with bearish candlestick formations and momentum indicators like RSI divergence further strengthens the bearish outlook. A confirmed breakdown could open the door for deeper retracements, aligning with broader market sentiment.

USDJPY is testing a critical horizontal support near the 50% Fibonacci retracement, a level that previously acted as a strong demand zone, triggering sharp reversals toward resistance. With price once again approaching this key area, probabilities favor a reaction, especially if buyers step in with conviction. A bullish rejection here could initiate a recovery, mirroring past price action, while a sustained breakdown would shift momentum in favor of further downside. Confirmation through bullish candlestick formations, volume expansion, and momentum indicators like RSI divergence will be key in determining whether this level holds or fails.

AUD/USD confirms a bearish wedge, signaling further downside as USD strength persists amid geopolitical tensions and trade uncertainties. While minor pullbacks are possible, the broader trend favors sellers unless sentiment shifts. Traders should watch for key technical levels and any Fed signals that could impact momentum.

CHFJPY has rebounded strongly from a critical horizontal support and weekly demand zone, signaling a potential bullish reversal. Last week's price action saw a decisive bounce off the bottom, reinforced by a reversal candle on the lower timeframe—an early indication of renewed buying pressure. If momentum sustains, we could see a push toward the key resistance zone, where the previous sell-off initiated. A break above this level could open the door for further upside, while failure to hold gains might invite another test of support. Monitoring volume, price action confirmations, and macroeconomic factors will be key in assessing the trade’s strength.

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AUD/USD confirms a bearish wedge, signaling further downside as USD strength persists amid geopolitical tensions and trade uncertainties. While minor pullbacks are possible, the broader trend favors sellers unless sentiment shifts. Traders should watch for key technical levels and any Fed signals that could impact momentum.

👉🏻 The market, by its nature, consists of impulses and corrections. You make money by moving with the trend. Impulse waves occur in the direction of the trend, while corrective waves happen in the opposite direction. We make money during impulse waves and prepare for the next impulse during corrective waves.

👉🏻 The biggest mistake here is focusing more on impulse waves than on corrective waves. However, the better you analyse the corrective wave, the higher the Risk-Reward Ratio (RRR) trade you will execute. The market is a whole; you plan during corrective waves and follow your plan during impulse waves!

BTC/USD is consolidating within a contracting triangle, signaling a buildup of momentum following its previous breakout. The price action remains choppy within the structure, offering range-bound opportunities until a decisive move occurs. A breakout above the triangle’s upper boundary could trigger strong bullish momentum, targeting key resistance zones, while a breakdown could lead to a retest of lower support levels. With liquidity accumulating, a breakout accompanied by volume confirmation will be the key trigger for a high-probability trade setup. Until then, the market remains in equilibrium, with both buyers and sellers testing the range limits.

⭐️ The star of February is definitely JPY!

Gold has decisively broken above a key horizontal resistance, confirming bullish momentum as it finds strong confluence support on both horizontal and vertical levels. The price action aligns with an ascending triangle breakout, reinforcing trend continuation, while the near-completion of Wave 5 signals a potential extension toward higher targets. A sustained hold above this breakout zone could trigger further upside, with bulls eyeing key Fibonacci extensions and liquidity zones. However, a retest of the breakout level as support will be crucial to validate strength before the next leg higher.

Observing the USD/JPY pair, the price action has retraced to a critical horizontal support zone, aligning with the 78% Fibonacci retracement level—a confluence suggesting potential bullish reversal. Historically, this area has acted as a pivot, marking significant trend reversals. The completion of the fifth wave within this zone, as per Elliott Wave theory, further corroborates the likelihood of an impending upward movement. To strengthen this bullish bias, monitoring for bullish divergence on momentum indicators like RSI or MACD is advisable, as it may signal waning bearish momentum. Additionally, the emergence of reversal candlestick patterns, such as bullish engulfing or hammer formations, would provide further confirmation. It's imperative to integrate these technical insights with fundamental analysis.

👉🏻 In any instrument, you cannot enter short trade because the price is too high or enter long trade because the price is too low.

👉🏻 If the price is too high, it means that there is an upside trend and you need to move with the trend or vice versa. You don't need to catch the trend reversal from the beginning to make money! All you need to move with trend. This is why we focus to catch moves at the end of corrective waves.

👉🏻 #XAUUSD is currently moving in accordance with both the scenarios that I shared here (previous post) and this triangle correction. In both scenarios, the $2876 is the invalidation level for now!

👉🏻 In other words, as long as #XAUUSD stays above $2876, we can say that the direction is up; if it goes below $2786, it is necessary to re-analyse.

USD/JPY 1D CHART

Price has formed a Double Top pattern, rejecting a key resistance zone and stalling at the neckline, which coincides with a strong horizontal support level. With Wave 5 completion, the market has entered an ABC corrective phase, where Wave B appears to be topping out. A confirmed break below the neckline would signal a high-probability drop toward Wave C, aligning with the ascending trendline—a critical demand zone. Confluence with Fibonacci levels and volume dynamics will be key in validating the next move, with bearish momentum likely accelerating if structure fails.

GBPCHF remains confined within a well-defined descending channel while also respecting a secondary, tighter channel within it. Price has recently tested vertical resistance and is showing clear exhaustion, forming a head and shoulders pattern on the lower timeframe. Simultaneously, RSI divergence confirms weakening bullish momentum, signaling a potential reversal. A clean break below the neckline of the H&S structure would provide a high-probability short setup, with downside targets aligning with key support levels inside the broader bearish structure. However, a strong breakout above resistance could invalidate the setup, requiring reassessment for potential bullish continuation.