Price seems to be following this dark red Schiff down fork. The NZD has been very weak of late, while the CAD - contrary to what was observed not so long ago, but in March this year - has been very strong. It may continue down to the level of 0.91 or even lower. Is 0.90 going to be tested? I don't know, but if this trend accelerates, it's possible as...
This 3D printing stock was very hot during 2012 and 2013 but lost its luster in 2014 as investors are looking for major cap companies who pay high dividends. Even the leader 3D Systems pulled back 50% from its highs which tells us that price is very unstable and speculative in this revolutional sector.
Stock broke up descending channel at $90-$92 with ignited...
Current price action seems to be following the slope of this modified Schiff Median Line set. Has it found support yet? I don't think so, as the potential buyers would have a problem with placing their stops here, so I expect a further decline. The CHF continues to be very weak and its momentum is now flagging. The JPY is doing quite well, it is strong and gaining...
This is a big picture scheme about the State of Play with regard DAX. When trading on a daily basis, we may forget the big picture.
As a reminder, if one look at the last 5 years, DAX did classical move, even when you do include the crises period.
The very mechanical move of DAX suggest that The level of Pre Crises was a resistance. After the crises, and with...
2 high probability bearish harmonic patters are showing up. The Cypher (green) and a Bat pattern (dark purple).
Looking to short at the Cypher patten around $94.36, I will be scaling in if price reaches $94.60 to complete the Bat pattern. 2 harmonic patterers usually confirms the overall prediction of where price is going to go. We will see.
RSI, MACD show that there isn't anymore a great energy to continue to pull up DOW toward higher and grater records.
Baring in mind the schedule of the tapering, the end of QE and the high unemployment rate in the US which may have a mechanical effect on DOWI, I thing that we may be at the beginning of the end and on the edge of a reversal trend.
IMO within next 24 hours will we have the last low before the real low of the downtrend triangle, anyway a continuation of the actual bounce could happen up to 460 area.
Let's see
**This analysis is purely technical.**
Reasons that makes me believe that the probability of an upcoming bearish movement is bigger than bullish action:
1) On the daily chart, we saw new highs but there is a huge divergence with RSI that shows lower highs
2) Price broke the 20-period SMA
3) Price broke the 23.6 Fib level (as shown on the D1 chart)
4) On the H1...
In terms of analysis, I think the charts speak for themselves.
The pair was in a general downtrend (see weekly chart) and we recently saw a pullback into previous price structure.
The pullback did not manage to gain momentum and it actually stopped at the 38.2 fib retracement (highlighted in daily chart).
On the 4H chart, we can clearly see a pennant in...
Chart Analysis confirms that a strong downtrend is in place and that the market prepare for a A-B-C retracement.
My forecast: Swing trading up +2.46 (+145%%) at $4.16 in 105 days with money management stops.
A bullish divergence indicates that bearish investor sentiment is too extreme, indicating weakness in the downtrend.
The patterns are generated using a...
Price is moving in a down channel and is quite likely going to hit the lower border, possibly at the level of 1.46000. The EUR is currently relatively weak, but also oversold, so some correction, sooner or later, should be taken into account. The AUD continues to dominate the fx markets in terms of relative strength, but has to be treated with caution due to its...
