Here's a simple chart to see that last weeks may have pushed to an important milestone, in normal-scale (I usually use log.scale).
> In blue you can see the all-time support trendline
> in green/red the falling wedge, correction from ATH
IMO excluding less than 24 days spikes to draw TRENDlines is to be done, so you got my green and red bold lines.
Several...
I'll mark myself down as long more as a technicality then a true conviction. In my opinion the charting suggest this is bullish, but I like to interpret our break through the multi-decade wedge resistance as a critical point (yet to indicate a particular direction). Despite every suit on CNBC calling the fall of the dollar, I would argue on a historical basis were...
Falling wedges are bullish formations. This is a nice daily Falling Wedge chart and a Double Bottom might be created soon.
See here: www.freeonlinetradingeducation.com
On the GBPUSD a Falling Wedge was drawn. In this case it could signal a bullish move. Bears are putting a lot of pressure on the cable because the rate hikes were postponed. From the technical perspective, though, a break above 1.6600 could trigger a rally to retest the trend line. A false breakout above the current resistance would be a negative signal. This is a...
- 4 H chart : I found this FALLING WEDGE : maybe this could be LONG in a SHORT time period (still BEARISH on WEEKLY).
- NEUTRAL SUPPORT ZONE btw 1268><1277
- DAILY chart : a test on 200 SMA (could act as support) and give a new run up
Conclusion : I am waiting for the reaction at 1300 (on 1H chart)
(This is my first chart published : advice are welcome)
Nice long spike few candles ago. Price looks to be breaking out of the falling trendline as well. Overall, it forms a falling wedge. Buy on retest of support @ 1.35226
What an interesting situation for the loonie. The primary trend is still up, since the price was rejected from the trend line. An up side move is also sustained by the Falling Wedge, drawn during the past two months. A break above 1.0800/0837 would raise the probability for the US dollar to recover the loss.
On a lower time span a break below 1.07100 could mean...
After a serious fall, the price action is now signaling a rally for the European single currency. The Falling Wedge, accompanied by the positive divergence on the 14 RSI, will be confirmed by a breakout above the upper line. My targets will be 1.36 and 1.3630.
We have falling channel in play (could it be also falling wedge). RSI shows that price action is under pressure. My opinion here is we could experience upside break down. However as the opposite could also happen SL should be reasonable tight here.
Gold may face a litle technical correction up side. But the general trend remains on the downside.
Next June 5th ECB announcement with a "possible" negative interest rate decision of ECB may favor on a short term basis some private trader to invest on GOLD in order to protect their investment and money from desinflation, but, it would be illusive to think that on...
I know that we all shout that the Euro is doomed to fall because of the new monetary policy that the ECB might adopt on 5th of June. But I will keep my eyes open for a break above the upper line of a Falling Wedge, and above the 200 ema on a 60 min chart. There is enough time for a corrective move before falling again.
EURUSD has a very good support at 1.3600/10,...
