After breaking structure to the downside the market is now setting up for a bearish continuation opportunity within the bear continuation zone highlighted in red. If price puts in a recovery rally into the red zone and the 1.1300 invalidation area holds, the market is likely to roll over and test the 1.1140 support zone.
DXY might give in for a little correction towards 96 today to reconfirm its main uptrend line from pre-brexit lows, then try to reconquer the post-brexit highs and might post a new high around 97, given that US fundamentals play their part today (Markit Services), tomorrow (Jobless claims) and on friday for the US NFP data. So considering this, I would be very...
Support .40 Res .49 Middle BB .49 Heavy past support turned into resistance at .50 For long, watch for a break of .50 with higher than average volume.
In 14.13 PT zone: 16-17 range with a SL @ 14.00
talk about a croc of shizza. if there is one thing i learned from trading, it is this: don't use fancy systems to make good returns. keep it as simple as possible. you don't have to trade. in fact you can always invest and double down when the market is wrong about price. you simply cannot predict price action. trading psychology (if there were such a thing) will...
Watch how it reacts to the bottom trend line made from the double bottom level at .40 The lower highs trend line is currently at .57
The Euro is still one of the main pairs on my trading radar as it has been all week. Although we've yet to reach the level where I have buying interest we have been able to take a few bearish day trades in anticipation. (If you missed my rant yesterday on the USD Bulls and the game they played during the FOMC yesterday make sure you check out yesterday's...
And yes, based on our last analysis, Crude Oil almost managed to touch the 48.00 area we are waiting. Price is already starting to rally, but a confirmation beyond 50 area must be seen first.
Still waiting for EURUSD to break away from its bearish channel (red) to confirm bullish move targeting 1.1375 - 1.1495.
As we've stated in our previous analysis, we expected AUDUSD to continue rising towards its 61.8% retracement level. But price declined to as low as 0.7330. We still anticipate aussie to rally to 0.7570 before trending down. A break from its bearish channel (red) would give us a clue.
As we've stated in our previous analysis, we expected AUDUSD to continue rising towards its 61.8% retracement level. But price declined to as low as 0.7330. We still anticipate aussie to rally to 0.7570 before trending down. A break from its bearish channel (red) would give us a clue.
Unlike Gold, Silver may still move one step high reaching 17.55 before turning bearish.
As mentioned in our previous analysis, Gold's movement is limited, and it almost did reach the 1290 area. As for now, we are on a wait and see status, whether price would still move up to 1290. A break below 1275 suggests that bears are back.
Price managed to break from its channel but wasn't able to reach the 54.00 mark. Instead, it went down, targeting 48.00 - 47.80 before we see price soar up again.
Last week, Euro did make a new high at 1.1420 before price declined. For the moment, we may see price rise up again towards 1.1325 - 1.1345 before becoming bearish again.
Like Gold, Silver was able to reach its target at 16.90 - 17.20 and managed to break out of our bullish channel. This metal could still move up, maybe retracing up to its 78.6% level at 17.55 before moving down once again. A break beyond previous high of 17.99 will suggest that bulls are still in control.
Gold hit previous targets at 1263-1265. Upside movement could be limited towards 1288-1290 areas. Break of previous high of 1304 might suggest that a bottom has been achieved already.
Cable was not able to move up to our target from our previous analysis. Instead, it continued moving down, which tells that a top has been formed already. Price has room towards its 1.618% fibonacci level at 1.4055 before it corrects up.