DXY Dollar Index
DXY has rallied from lowest blue line (just out in fact, but
close, considering how far it has fallen now) and rallied to the
next line pretty much spot-on. So it's now vulnerable again at
this point....it has to push up through this next line right here
at 89.42 and hold above here for the dollar to go up any more
and therefore for EUR and...
Price showed a marked reaction to a monthly zone and broke bullish market structure. Expecting the drop to continue in the direction of the next monthly zone illustrated by the red horizontal lines on my chart. It is also possible that price might pull up a bit more before dropping.
ETH/USD Bitfinex opening with a down gap below the developing trend and 200 SMA on both Daily and 4H Timeframes.
Potentially more sideways price action today, coiling inside of the triangle for a breakout.
Levels to watch:
Fib 0.5% level: $272
BTCUSD possible death cross forming as traders take profit going into the new week.
Stochastics and MACD have shown bearish crosses forming also on the 4 hour timeframe and daily, adding to the momentum of a correction possibly being on the cards - in the range of a $7200 to a swing low of the $5800 range, a potential play ahead of the fork could bring high...
There is still a large bigger downtrend on this pair's longer timeframes. I am expecting one more impulsive leg down to form a wave 5 in the wave pattern I currently see on this daily chart.
Price is as well currently inside a descending triangle, which increases the chance for a break down today or tomorrow since we are very close to it's apex.
If price would...
After a bearish week previously I am looking for additional trades short after profiting from the initial break of the inside trend line. A little retracement up to 1.2400 area could provide an optimal short opportunity with targets down at 1.2500 with a 2:1 risk reward.
if market does not retrace, a strong close below 1.23113 will also provide a decent shorting...