The weekly channel that the AUDUSD is in is still holding strong and may hold strong for weeks and months to come. AUDUSD has been climbing upwards recently before ever breaking below or even touching the 0.6800 handle. Because of this, I will be watching for two possible outcomes. 1.) Price reaches the upper edge of the channel and gives a SELL signal - I will...
PRICE IS APPROACHING A TRIPLE TOP FORMATION AT A MINOR MONTHLY SUPPLY LEVEL PRICE HAD MADE A NEW LOW FOLLOWED BY A LOWER HIGH, HOWEVER PRICE THEN FAILED TO MAKE A NEW LOW BRINGING PRICE BACK UP TO THE 0.618 FIB LEVEL. A CLOSE ABOVE 1.565 LEVEL FOR A CONTINUED MOVE TO THE UPSIDE WITH TARGET OF 1.623 WHICH IS ALIGNED WITH THE 0.764 FIB AS WELL AS 1.27 FIB...
So, the first day of december began with a false break above a considerably important price. A week later it corrected itself in light of a market dominated by the bears. We proceed on the assumption (assuming is inherent in forecasting) that this bear trend is still intact unless structure says otherwise. By that I mean if '3' is breached. 5 will be...
My thoughts for this trade This Pair is looking very bullish at the moment. -A couple of Long term (Weekly) Fibonacci -Monthly, Weekly and Daily MA's bullish (My MA's of course) -Daily Break retest and continuation of 1.5000 Monthly Res level. Price ready for entry with liberal stop. I Will see how market opens and potentially wait for price to enter a better...
Have you ever taken a chart and looked at it from the flip-side? Why would you do that? To avoid bias. There is a long bias and a short bias. We all have biases, but just need to confirm it by a simple test. Plot a chart of SYM and then plot the inverse of the chart next to it by using 100/SYM. You can make the numerator any size you want to get the price...
During the recent selloff, Boeing on long term basis failed the 5-year uptrend by falling below 1st upper standard deviation from 5-year (260-week) mean @ 137, however held the test of 10-year uptrend by bouncing up from 1st upper standard deviation from 10-year (520-week) mean @ 121. On short term basis, the price managed to hold 1-year ascending channel...
CABLE HAS BEEN BULLISH FOR A LITTLE WHILE NOW. THE RECENT PULLBACK BRINGS PRICE BACK TO RETEST SUPPORT AND A THIRD TRENDLINE BOUNCE. WE ALSO HAVE A FIB PLAY HERE AT A 50% RETRACEMENT. TO TRIGGER THE LONGS WE WANT A BREAK OF THE CTL AND WE WILL THEN BE TARGETTING BACK AT THE HIGHS BEFORE SEARCHING FOR A HIGHER HIGH AT KEY RESISTANCE, CONFLUENT WITH FIB...
BIAS FOR THIS PAIR IS FIRMLY BULLISH AT THE MOMENT. PRICE HAS BROKEN ABOVE RESISTANCE AT 1.9520 AND I AM NOW MONITORING P.A ON THE 4HR TIMEFRAME FOR A RETEST AND CONFIRMATION TO GET IN TO A LONG TRADE. TARGET FOR THIS IS 1.9825 AT THE -61.8 FIB EXTENSION FROM THE DAILY FIB SETUP.
AS THE GBP CONTINUES ITS BULLISH MOMENTUM ACROSS THE BOARD IT COULD PROVIDE A NICE LONG OPPORTUNITY ON THIS PAIR. WE HAVE MADE 2 HIGHER LOWS AND RECENTLY SNEAKED IN A HIGHER HIGH. ALTHOUGH WE WASNT ABLE TO GET A CLEAN BREAK ABOVE THAT RESISTANCE IT COULD BE A GOOD SIGN OF THINGS TO COME. I AM NOW MONITORING P.A CLOSELY FOR A LONG SETUP. I HAVE HIGHLIGHTED THE...
Good 1-2-3 pattern to continue a bullish bias. Expecting to break the resistance level but maybe too extended to break now. Looking for a small pullback or flag to work off the overbought stochastic.
The GBP had a 1.5%-1.8% rally today and it needs to retrace if it want's to keep up this upmove. Euro on the other hand has been going down (fx eurusd) and is looking like a potential long especially if the us unemployment is worse than expected. Currently I am expecting just a pullback to 0.236 fib level. Technically: The price is at a support level. And if you...
For this idea the main points are the same as those for my last couple of ideas , except that nzd has released less of its potential than aud and cad against the usd. And I think that the commodities still have some room to continue their pullback. In short I think that usd will further pull back.
[i ]EURAUD didn't let the audusd to rally as it went up a lot but now idepreciate nowt wiat-leastciate now or at-least not rally much more. That would let audusd to continue its rally and potentially to make those double bottom patterns complete. So yes, generally I think that DXY (USDOLLAR INDEX) will pullback some more and that commodities are likely to do...
EURUSD short term outlook remains bullish. Today at 14:00 UTC there will be ISM Non-Manufacturing PMI (Mar), which could move the eurusd pair up to ~ 60 pips or maybe more if the data is very surprising. There are no reasons, cut in stone, for my bias, but some of the core ones are : 1. eurusd pullback still has momentum and it seems like eurusds downside...
AUDUSD Bias At the turning point 1. If A double bottom with a bullish divergence forms. When going up 2. If the eurusd isn't falling while audusd is rising. The eurusd and audusd pullback's trends is still going strong and have proved themselves many times. Before shorting I'll look for this trend to be broken but for now it's still on. I rather loosing one or...
I've formed a new bias on eur/usd - in my opinion it's likely eur/usd is going to retrace after all it has been plummeting since 2014-05-08 and we are also a at a pretty big resistance level (to see that you can squeeze this chart or take a look at the weekly), we now how a possible double bottom with bullish divergence, massive one. So now may be the time...
Everything can be seen or read on the CHART.