It is been consolidating for a while in a range of a bearish flag pattern. It has already broken out from the strong monthly support levels of 1.0000-0.9950 that signals a bearish momentum in the this pair. USD getting stronger.
PRICE ON THE DAILY CURRENTLY SITTING WITHING A MAJOR BUY ZONE, AS YOU CAN SEE BY THE POINTS HIGHLIGHTED IN SEPT 2015 AND ALSO 2014
ZOOMING IN A LITTLE THE DAILY CANDLE FOR FRIDAY TIRED A STRONG PUSH BEARISH POST NFP BUT THE 8/1 FAN ZONE KEPT IT IN CHECK FORMING A NICE DOJI. A BULLISH DAILY CANDLE TOMORROW WOULD INDICATE A HIGHER LOW AND WOULD INDICATE FURTHER...
H4 VIEW OF A TRIPLE TOP FORMATION AT 0.7650, PRICE HASTRIED TO BREAK PRICE MULTIPLE TIMES BUT BEARS KEEP ON PUSHING BACK,, STOP LOSSES JUST ABOVE THE DAILY FIB LINE 0.78 .
WILL BE WATCHING FOR A PULL BACK DURING TONIGHTS ASIAN SESSION AS IT HUGS THE TRENDLINE IT HAS BROKEN.. TP ABOVE 0.7420
The AUDJPY from earlier worked out very nicely, it was a quick and easy 150 pips, now we are looking for another 200+ pips of movement.
We have a great trend line and area to trade. As with JPY pairs, if the break out can't hold, I don't want to be in it. I'll sell the break of the trend line, if it moves up and closes ABOVE the trend line I'll exit and look...
1) Multiple price rejections for further upside @ resistance level 104.987
2) A Break of trend line & break of support zones 103.5352 & 103.358 will warrant shorts.
3) Target 1 @ 101.043
4) Target 2 @ 98.764
We may possibly see a new swing low if 98.764 is taken out
as on higher time frames the pair has been making lower highs & lows consecutively.
As you can see everything is going as bears planning. The price is moving very harmonic between fibo extensions and retracement levels. However, there is a very strong support level, which would be crucial for the pair. This is the level of 72.00. If sellers manage to go below this level, 127,20% of fibo extension would be my first target, as the price seems to...
All the existing facts show bearish trend. However it is possible for the price to be traded in the range shown in the chart. However i believe it will reach the area around level 96.000 - 95.000.
DXY/Dollar index is setting up a nice bull flag, movement above 96.70 is confirmation and should start the move up to 99.00. This is important because we are waiting for EURUSD to move down into 1.0900 and 1.0650 as well as USDCHF moving up to parity/1.00 level.
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Trading can be so complex and intricate sometimes. I try to keep it as simple as possible. Impulse, correction, impulse. Identify the corrections and trade the trend continuations. Pair that with a little technical analysis and viola! A corrective channel structure has taken shape here. Anticipating the bearish breakout to continue the trend. I take the trade only...
Strong trendine broken , 2 times Test , Continuation higher making NEW HIGHS , forming something line Inverted Head&Shoulder , wave analysis can be put into consideration here too , a lot of opportunities around Alcoa are anticipated. I'm flat , out of this market for now , Thinking and Observing Price Action , Do the same , Do Not trade , stay and observe , watch...
After a bullish signal on BTC the short downtrend was broken and build a base for an uptrend.
At the moment we can see the BTC moving in a triangle so we can wait for a breakout next 2 days.
