Last post: June 16th 2018. See chart.
Review: Price was faced with the weekly 200SMA acting as resistance at circa 95.
Update: Price is trading above the weekly moving average but has remained in consolidation.
Conclusion: Waiting for a breakout above the March 2019 high.
Good Morning Traders
Looking on the 60 minute timeframe, price has recently retraced in a 3-wave pattern from the recent high (0.714) into the 61.8% retracement. Adding to the set of confluences is the RSI indicator which currently nears overbought territory. Where price currently sits at is a perfect level to enter for a sell, providing an adequate risk/reward of...
1, The Gartley
2, Rising Wedge
3, Bearish RSI Divergence
Target is based on the bottom bound of the Ascending Channel
On the flip side, price can continue to the top bound of the Ascending Channel and then drop
I drew my chart on the greenback last week some time and thought I would share as it has significant impact on major pairs as well as the price of GOLD.
For the time being we are seeing bears gaining momentum.
Keep a close eye on the $
Draw up your analysis on the Dollar, Sterling and Euro, and Gold.
Are there emerging patterns? Lets look again on Sunday at...
USDJPY and the US-Dollar basket are showing signs of weakening of their trends. I show why I think so, and I'm happy to hear of a different perspective based on the charts. Late last week I saw some unusual Yen strength which was masked by base currencies doing other things.
I was surprised that Wall Street was heading north but Yen quoted pairs did not rock...
EURUSD has been churning for 2 months. The triangle consolidation will break. My bet (I'm short) is that it will beak down.
I'm not expecting a clean break, as we are nestling above 2015-2016 resistance-turned-support and the weekly 200MA. This might produce a choppy environment. However, once these supports give way, I would expect a swift move to the lower...
Last post: May 30th. See chart.
Review: Price was very much bullish but faced with the weekly 200sma acting as resistance which caused a pullback.
Update: Price is still faced with the weekly 200sma as resistance but a bullish move on Thursday could give momentum to the bulls.
Conclusion: Standing aside until the resistance zone is cleared and acts as...
This currency index is featuring for the first time on our TradingView blogs.
Current setup: Price has been in a bullish trend since finding support at a key resistance zone that includes the high of 2008 but is now faced with weekly 200sma resistance.
Conclusion: A break and close above the weekly 200sma is required to suggest a bullish trend continuation....
USDOLLAR's exchange rate reached the end of the adjustment level. This level is 11606. I expect a rise from this level. The rise height may be equal to the size of the previous wave (0A). If the idea is correct, the primary target price is 11865.
January has seen a collapse in the Dollar. The monthly bear div that formed over last October and November has resolved.
Yet, we are in a confluence of horizontal and trend support. Its possible a bounce could materialize here. But...
It will be really interesting to see how DXY handles the red resistance line above. It would be textbook for price to bounce,...
Short to 1306, rejected trend line which has been in place since 2018. Last time it rejected this trend line in September 2017, it dropped from 1355 to 1250. Last time before that was July 2016, where it went from 1375 down to 1125!! Look at the chart. RSI High, could be higher. If Gold breaks this CTL I predict 1355 up, next stop up would be 1375..Short for now,...