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Foreign Exchange Price & Time at a Glance:
Price & Time Analysis: USD/JPY
USD/JPY Strategy: Square, but may look to get short early next week.
Price & Time Analysis: EUR/USD
EUR/USD Strategy: Like the long side while 1.3730 holds.
Focus Chart of the Day: AUD/NZD
AUD/NZD has come under steady pressure since Tuesday's 'inside day' around the Pi cycle turn window we highlighted on Monday. The topping pattern was further bolstered by a head & shoulders on the daily. A Fibonacci confluence between 1.0665 and 1.0645 is the next big pivot level with a break under this zone needed to confirm that a more important top is in place. Only a daily close over 1.0830 would invalidate the negative technical picture and refocus higher.
This publication attempts to further explore the concept that mass movements of human psychology, as represented by the financial markets, are subject to the mathematical laws of nature and through the use of various geometric, arithmetic, statistical and cyclical techniques a better understanding of markets and their corresponding movements can be achieved.