GBPCAD

The GBPCAD is on an uptrend at present but on further investigation this looks like a wave 4 so it could be short lived. As you can see it broke the MOB once the time had ended (today) and the Ellipse is not too far from price action. We could see some more upside to this but being a 4 it is most probably limited so as opposed to taking a trade on this now, I would rather look for a good opportunity for a 5 short.

The AUDUSD is also worth keeping track off as it begining to look quite overbought and we are coming toward the figure. If we start to deal below the regression trend then use an entry stop loss technique to trade this.

The USDJPY I shorted a little while back is a few hundred pips profit and the USDZAR has done eceptionally well. I know one of you took the USDZAR trade and made a tidy sum yesterday and thank you for your email and offer to make a good donation to a charity.