NZDUSD Price is forming ascending triangle we have EMA's cross also. Let's see if Resistance will hold or price will broke it all depends on news today.
AUDUSD Price broke bullish rectangle and we can see strong bullish moves. Next resistance is @ 0.7675.
AUDUSD testing descending trend line also EMA is crossing. Rate decision,Trade Balance,GDP report will show clear direction of aussie keep an eye @ this level
USDCHF is testing an important zone which has served as support in september october and november in 2016. Now after price made a double top and broke the channel is headed down to this zone. I will wait for more bearish confirmation so keep an eye on this zone!
Upon observing DXY i was able to notice, a descending wedge formation. Within the wedge formation are smaller resistance and support zones. As illustrated above, aggressive buyers are present at 99.-- range. There is a lot of High impact USD news to come out Friday. 4/14/2017 Forecast predicting bad responses to Consumer Price Index. I am suspecting 100.78...
We see Cable Long to 1.2520 to complete the D-E leg of the X-E Elliot wave within a descending triangle. Shorts will be in play from 1.2520 and we will be scaling on the break/retest of 1.2115
EurUsd is on my watchlist for a bull swing higher towards recent highs and maybe a little bit more. I prefer to wait and not to jump in while the market is moving aggressivley lower like now. Lower timeframes (15min, 10min, 5min) can give clues when the downmove is slowing, or a change of direction is happening. So be patient and dont rush into a position. Price...
The dollar looks to be showing signs of a turn around. There hasn't been much volume from the buyers, and if we haven't already bottomed out, we should be able to comfortably find a bottom without hitting our stop losses. This is a longterm play, which is why why we have multiple take profit levels, enabling us to get out if the longer term view becomes less likely.
DXY is in a bearish channel since dec 20. Expect a breakout of the channel this week (move up). After move up expect a quick surge down to take out the stops at 99.40 Or vise versa: take stops, then surge up. Update tomorrow. Moves most probably on Wed (Fed Interest Rate Decision) and on Fri (NFP)
Overview : The dollar is still in a down trend channel. Yellens meeting seemed to transition to a Trump, weak dollar theme. Dollar highs and lows starting to transition to a new phase that may break from current channel. The Chart : In the 1 hour chart of DXY, I've set up a Fibonacci channel in stead of drawing tools (if for nothing else as a visual...
Overview - Sentiment immediately changed (...again... I know) from extreme bearish to excessive bullish from traders as we reverted back to the top of the channel. This is especially true in the USDJPY pair. The index and the USDJPY is still clearly in a downtrend. Unless you are eager to get ran over by the heavy weight greenback, I urge for confirmation before...
Waiting for the breakout of the green upper trendline. A beautiful trade might be setting up. I am not going to buy as long as we are below 8.90, because further move lower is possible. I want a clear impulsive breakout of the golden zone, and then i will buy the correction with a stop at 8.80 targeting 9.20 and 9.30. Also keep an eye on USDNOK and USDPLN,...
Lets see whether the bulls will come in on time.
Overview: The last few weeks we have seen wide ranges in the USDDJPY pair which has ultimately followed a respected channel going back to December. Recently, price action violated this channel and has failed to hold anything substantial. This can be attributed to news. Recent Price action: Recent price action looks to be in a distribution phase: Double top...
5 Waves cycle move lower has ended! There is now a potential rally ahead. This corrective breakout flag might be followed by a big move higher. Looking for a move towards 1.2200/1.2100 and a small bottom to be forming. I will enter with a tight stop and gun for a big move towards 1.25 and 1.2750 higher. Use proper money management and risk management. Wishing...
The chart says it all. 5 Wave impuls lower was followed by an impressive 10 month long textbook WXY correction pattern that is currently coming to an end. Wait for the market to form a Lower High maybe around 1.3400 and enter a sell targeting the 1.25 lows. Dont rush the entry, wait for it to form some kind of topping pattern on the 4H chart for example. Note:...
Bullish in this pair. Read comments on chart. Follow me at www.facebook.com
Currently short on the daily & 4hr charts. - Big news will impact trades - Long (weekly) trades will probably be safer. - Monthly fib - Downward trendline that has been tested 1 strong time so far. - Daily/Weekly long term trade. - Similar to the price action of USD/JPY that we profited from recently.