On Jul 9th price broke below the neckline. Yesterday retested the neckline and was rejected lower today after a results announcement.
The 200 EMA is sloping down and price is below the 200 EMA.
All in all #bearish
This pair has entered the consolidation zone once again after failing to match the previous high. The head and shoulders pattern is 95% complete as price is looking to retest the neckline once again and a break of this would be further confirmation that USD/JPY would melt taking out the monthly support and beyond. On the daily timeframe the recent bullish move...
It now appears that the Dollar is carving out an Inverse Head and Shoulders pattern. It is unconfirmed, however.
Taking out the recent swing low low at 93.81 would not invalidate the pattern. Conversely, taking out the swing high at 96.98 would imply a neckline break. The ascending neckline, if broken, implies a fast move up within a broad Inverted Symmetrical...
The price seems to be in a steep bullish channel. This price has managed to reach a level which has previously successfully held as a strong resistance level, if the price is able to break this resistance level then we should see substantial bullish gains. But if the resistance level holds this might cause the price to break out the bullish channel, this can lead...
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What's the point for OPEC to cut oil supply if America flooding the market with it?? The only one question, for now, is whether oil rally will end at the end of December or at the beginning of first quarter of the year 2018?
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Currently, EURUSD is in a shoulder-head shoulder pattern. If this formation is confirmed and the neckline breaks, the first profit target is at 1.1700. If you trade this pattern by mirroring the height at the neckline, the target is even 1.1500.
GBP on a neckline of a Head and Shoulders formation on the 2-hour chart, just as some volatility is expected for some news coming out that might shake the market.
Indicators seem to show divergence but CAUTION is mandatory now.
If it breaks low keep in mind the soft resistance at 1.2338