This is my update for DXY.
Dollar index has recently broken below the support line of a rising wedge.
It is a very strong signal which determines a bearish sentiment.
We can expect a rally to 97.5 level and my midterm projection is bearish.
after a massive buying reaction last week we see that GBPUSD is slowing down.
rising wedge formation is a very good indicator of weakening momentum.
More the market contracts within the pattern, higher the chances that it will break to the downside.
I am waiting for a bearish breakout of the wedge to short...
descending triangle formation on AUDJPY.
Pay attention to a horizontal support of a triangle!
Bearish breakout of support is a signal to short the pair.
We don't know how long the pair will be trading within the triangle,
but when it breaks, set your stop above the last lower high!
target levels will be:
USDJPY (4H) - medium term bearish bias
While the US dollar is making an attempt at the major daily resistance of 109, the uptrend seems to have lost its momentum. The RSI failed to produce a higher high to reflect the bullish price action. This is a warning sign that buyers have taken profit and become hesitant to commit more chips on the table. The demand zone...
very interesting situation on GBPUSD .
The pair is coiling around 1.27 structure resistance
and we see a clear rejection of this level.
The pair has just formed a double top pattern,
and there is a high chance of switching the sentiment from bullish to bearish .
Our trigger is the bearish violation of 1.255 structure...
1W Chart shows that price is moving in consolidation in this triangle pattern and that the exchange rate is above the 200 EMA, therefore suggesting the current direction of price is still upwards:
-Price can exhaust outside of a resistance/support zone. It's not forced to stay exactly within restricted channels. I would...
GBPAUD still respects the boundaries of the rising channel .
on Friday pair has reached 1.87 level.
what is interesting about this level is that
first of all, it matches perfectly with the rising resistance of the channel and
secondly, we see that in the past this level was respected by the market.
. There is a possibility of temporary retracement to suggested support line (108.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. There is a divergence in RSI and price between the trough at 106.775 on 2019-06-25 and the trough at 104.45 on 2019-08-26, the probability of...
. There is a possibility of temporary retracement to suggested support line (0.6302). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
Gold prices dipped to early-October lows on Friday as investors were cheering a partial US-China trade deal. As a result, Washington decided not to raise tariffs on $250 billion worth of Chinese imports from 25% to 30%, which brought some relief to global markets. The bullion registered a weekly low just below the $1,474 figure and finished at $1,488 on...