Lovely set up into next week. Cross over of both 4H and 1D MA. Also currently on a daily 3 bounce. The rectangle marks the point where the market tried to push down however the proceeding candle denied the move lower. Will look for a close above the minor horizontal line to break previous resistance. This is what I see, this is my next move. Find what works for...
EZJ has been trapped in a symmetrical triangle for a few months the boundaries have held well. RSI is showing support in the 45 area indicating decent support for the bull side. Looks ready to break to the upside in the next week or so.
Bias for gold at the minute is short. if we can get up to around the Fibonacci confluence zones then i will be look for multiple rejections to signify were going lower. if we get the signals we could be heading down to 1120
Euro rally looks like it is loosing steam and has presented a possible short opportunity on 2hour in the form of a flag pattern. if we reject the 38.2 fib once again it could present an opportunity to to short the market back down to lows with a roughly 1.1.6 RR. you could look for conventional extended targets for this pattern but i am looking for a quick in and...
After breaking out of a four month range the pound had a sharp decline against the dollar in October, since then the pair has been pulling back and it looks like we could be due for a further bearish decline,the pair has pulled back into a key Fib level and rejected.
As you probably know, last night on Asian session the $GBP got killed on thin markets condition which made the $GBPUSD drop 8% at one point in under 2 mins but than the market recovered and ended up with -1%. However, when a situation like this happens (which is not very often!) I jump to my monthly charts to give me the best and most importantly; the...
By looking EUR/GBP I feel that this pair is currently trying to make a top at current place right now. By looking the weekly chart, we can see that we had a 'equal size leg' up and also looks five waves up (Elliott Waves) and keep in mind that we have the 61.8% fib here so its a important resistance zone here.
By looking the Daily chart, looks like...
Long running uptrend has just had a pullback to Fib38% level. Looks like buyers are re-entering.
There is some risk. Bears are quite strong and there has been a LH/LL on the 4h. The test will be whether price can break above 0.9400 where there could be bears lurking.
Still worth taking as good R/R, just keep an eye open at 0.9400 and be prepared to sell if necessary.
US Oil is currently at the end of its bearish movement? If we can find support here around the 61.8% retracement level, we would expect to see the bulls start taking over and potentially form an inverse head and shoulders. With the right shoulder lining up with the 61.8% level, this trade seams very promising!