Price has continued lower, we are now at the median line around 2105. This is an area where price may continue, or show a reversal, so pay attention if 2105, and 2100 can break and give a retest of the middle median line and the support as new resistance. Price looks like it is in a sharp down move, so look at further downside as a strong possibility.
Price hit the upper median line and dropped showing good frequency at 2143.50 area, then proceeded to show good touches on the middle median. We are at a decision point now if price is going to make new lows or range. If price is to make new lows, we need to break 2117 and 2107 as well as the middle median line near 2112.
Price is drifting down again, but we must break 2107 and 2100 to continue bearish trend on the 240 chart. Look for those areas as break and retest as resistance for possible entry points.
Price has come down from the median line last week near 2152 area. Look for 2200-2110 to break for confirmation of bearish trend. If broken, look for 1980, then eventual target of 1850-1890 (price will go lower as time goes by)
The GBPAUD is moving in an extanded flat correction, but the trendis still down. We've just had a double top pattern, which usually marks the end of the rally. However, if it is broken, there's another set of resistance areas awaiting the price: - the downsloping Median Line (ML), - the prior lows at 1.777, - the range between 1.80 and 1,82. The sterling has been...
Here are the key points for this chart of GBPNZD: - Trend. I find the trend still DOWN, although it's has lost momentum recently - the correction has come across almost the entire median line set - Fundamentals: the NZD is still strong or strong-ish, while the GBP is the weakest currency in terms of relative strength. The NZD is also relatively oversold. -...
Here are the key points for this chart of EURSEK: - Trend. Based on the blue pitchfork I find the trend still UP, albeit suffering from a severe correction. - Support. The falling price has found support on the 50% retracement (9.36575), which happened to be just above the prior high (9.35238) and a bit below 161.8% of the prior down swing's range size. The range...