Idea is based on a combination of Elliot wave theory and median line analysis. Chart contains all reasoning behind this setup along with a target and stop loss. Good Luck. If you trade acoording to this idea please do so on your own responsibility. This Idea is a mere reflection of my own point of view.
We are sitting above a strong support line, expect price to reach the upper parallel of the gray pitchfork, once broken and closed above ---> price will reach the 0.95 ish area before it starts retracing (or going further up). Please check the chart for the target/ stop loss.
Idea is based on a combination of elliot wave theory, median line analysis and Bollinger bands. The reasoning behind the technical analysis is shown on the chart along with concrete target and stop loss. Good Luck!
Idea is based on a combination of elliot wave theory and median line analysis. The reasoning behind this setup can be found on the chart along with concrete target and stop loss. Good luck guys
This idea is based on a combination of median line analysis and Elliot wave theory. The two gray and blue pitchforks date respectively back to 30-04-2014 and 05-09-2013. Please zoom out to see both slopes. The reasoning behind this technical analysis is shown on the chart, along with concrete targets and stop loss. Good luck guys
Idea is based on a combination iof median line analysis and Fibonacci ratios. Don't hesitate to ask if you want to know more. Chart contains all reasoning behind this technical analysis and concrete targets and stop loss!. One can argue that going long from current price is not bad considering the RR, however personally I would wait for the price to stabilize of...
When one considers where price is at right now, then it is not yet possible to say with absolute certainty that NZDUSD is going lower. We are still sitting on top of a strong support line. Only when this line is broken and closed under (on 4hr chart) then I will have a bearish bias. The reasoning behind this technical analysis and concrete targets are shown on the...
Median line analysis and Fib ratio's indicate that USDCAD can not close higher than last weeks high. Price is on the verge of breaking an Andrew's (gray) pitchfork that dates back to 09-04 and thus about to resume it's downward slope (blue pitchfork ) that dates back to 31-01. Expect price to form a double bottom with the lows from 08-05 before going up again....
Are we good to go? Is it a higher low, nicely placed at the lower median line parallel of the blue fork? It looks like CADCHF has found nice support at the 0.382 retracement, which is way above the half-way of the May rally and thus seems to be a factor conducive to further up trend advancement. I find the CAD to be very strong and to have a lot of latent bullish...
Kiwi took a beating along with Aussie during the week. China's PMI might have provided some temporary relief but technical resistance at 0.8613 is likely to push Kiwi down to retest 0.83173 region which was past resistance which gave way, but was not tested for support. This retracement should provide a good opp. to long the pair again. The final target comes in...
From the larger timeframe, AUDCHF formed an inverted H&S pattern. It failed to rally and retraced back to 38.2% of the rally. This tells us that the inv. H&S is still in play. Switching to H4 charts, with the help of the median line we see how price has been playing out. A risky trade would be to long at 0.822 - 0.8219 regions with stops below 0.81209. A safer...
Update from the previous chart for USDNOK, we see three patterns confirming the target of 5.83530, Risks: 20/05: Norway GDP release forecast 1.34%. Prev 1.1% y/y | forecast 1.52%. Prev -0.2% q/q 22/05: Unemployment rate. Its been stable at 3.5%, so any downside reading could pose some threats to this trade.
I expect this market to either retrace to a lower sliding paralel and then make a nice rally up, or go up right from where it is now. Those new highs didn't make much progres to the upside, so it looks like it wanted to retrace deeper, before it makes any further advancements. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I...