I overview what are some of the possibilities and probabilities over the next few weeks for Wall Street. I compare again the current situation with that of around 2008.
Preliminary action on small time frames on Weekend Wall Street, do not look exciting for a trip north on Monday. We shall have to wait and see, as Mr Trump often says.
I do not know what's...
For me, those are the next levels to open position on USDCAD.
The demand below is a great continuation level of buy position, I'll buy at this demand only if the Price Still didn't reach the supply above, the target for this position will be the supply above, which is a great Supply of sell position, if the price hit that supply, I'll sell there, the target for...
EURUSD is bearish at the moment,
The key levels I marked on the chart are great levels for day trade position, on the low time frame the Demand below seems like a great Quasimodo level of buy position, if the price reach that demand I'll Buy there, The supply above is a great level of sell position, I'll sell at this supply.
GBP/AUD could see a bearish reversal as price seems to have rejected the daily resistance level of 1.8185 and as a result forming a dragonfly doji on the H4. Along with the early hours of today where price failed to break this key area of resistance yet again.
There is bearish RSI divergence occurring on the H4 which suggests the strong bullish momentum could be...
The USOIL just hit a supply level from the higher time frame (weekly).
I prefer to wait for a confirmation in order to take a sell position. the support
Below is my confirmation zone, if the price will break that level it indicates the price
Tends to reach the support below and even the demand at the bottom.
If that happens I'll look for P"A setup for sell,...
There is a clear support and resistance identified - XAUUSD has been going bearish for the past couple of months and it should reach the middle Support , after it reaching the support we should be seeing a retest at the 1230.00 key level and hopefully pull back down to the support 1130.28 key level
EURUSD is looking really bearish here as it is trying to hold on by the skin of its teeth. It's looking like it's going to be going short again after this brief retracement fizzles out. I'm looking for euro to come back up to the 38.2 Fibonacci of the last move down to look for multiple rejections to look for a continuation opportunity back down to initial targets...
GBPUSD has retraced and looks like it has stalled a ma major area of resistance wit several confluences halting its move. another 4 hour rejection of the 200 MA and if we close still below 1.2500 i will be selling this market back down to 1.2300 which is the last significant low. if we break that level then the pound could be in trouble
I've noticed a key are for silver has now been broken and we are still above the price of 16.800. This coincides with our 61.8% fib re-tracement and we are still creating higher highs. Price is also now above my weekly support zone and I do believe Silver may push through possibly back up to the 17.800 area. We have my weekly resistance at 17.200 which I believe...
Overall bias for gold is still short, but we have come up to so major level and major fibonacci confluence. I will be taking no short trades with targets beyond 1160 until that level is broken. for shorts back down to recent lows however there are a couple of decent fibonacci confluence areas to watch price around for shorts
We are in a quite important time for gold at the moment, My view on the commodity is bearish longterm down to potentially 840.00. That said Gold is currently showing another short term selling opportunity opportunity. After breaking 1200 last week (which I called in a previous previous gold post) we are currently retracing slightly back up to that level once more....
-weekly ascending channel
-weekly higher low made
-weekly counter trend line broken
-4hr ascending channel
-4hr fib found support at 61.80% level however there is a chance of further retracement before going long
-4hr target 1 - 127.20%.
-4hr target 2 looks very likely as it has confluences with upper channel boundary to make new higher high.