The price closed with a H4 bullish bar on the chart and with the prices reaching higher highs on the lower timeframe after the opening of the markets on london, the prices formed kind of a bullish pin bar formation with the support level being near a past resistance level that was acting on the USDCAD and that is holding together with a 0.618 fib retracement and...
Hi traders,
GBPUSD still in a boring support zone which started on the 8th of January. 1.5200 is resistance and 1.5050 is support. PLEASE; dont buy at the top of this range or sell on the bottom, wait for the break or buy at the bottom or sell at the top so your risk will be smaller.
I am long right now from 1.5080, SL right now is at positive at 5085...
Arguably the biggest news event this week will be the ECB press conference Thursday 14:30 CET. Officially its just a periodic meeting where they convene to vote on their benchmark interest rate. But in reality, they will discuss the purchase of government bonds and all eyes will be on the press conference after the rate announcement, as the market expects Draghi...
The pair found support at the 0.5 and 0.382 Fib. level, signaling the next move up,
Lower then expected USD Consumer Confidence (SEP) at 86.0 was not enough to break this level and therefore I believe this pair is going to go higher on the JPY Tenkan news.
Watch out for:
JPY Tankan Large All Industry Capex (3Q)
JPY Tankan Large Manufacturers Index (3Q)
JPY...
Our Unique Forex Algorithm is looking for EURAUD to make a move higher if a certain price level is taken out. Please refer to the chart for further details.
My bias is for short. There is a confluence of
- d1 line chart; day tf suggests a distribution pattern in place. ( red lines)
-d1 fib5
- h4 channel top
- h1 channel top with macd divergence
What I really wish to see is for price to be kept pushing higher till Tues or Wed when price exhaustion can be suggested and short will be possible. Hence my plan is not to...
One can often hear market participants saying "Some bad news could see a sell-off" or "So much good news and where is the rally?".
The chart shows some of the major news events of the past months in context of price action. It illustrates that there is no correlation between the relative positivity or negativity of news - that the market evidently uses news...
Clear Double Bottom; Less than clear triple bottom on daily chart. News released on 15:22 today caused a nice move into close. There was a low volume selloff to close at .0140 red on the day. I will be watching for a strong open and break of .0150 area on volume to break above down trend line. Or a possible weak open to wash out and test .0125 support area...
DHI is up today after housing news came out from US. There were sold 504k of nev homes compare to 442k expectatoins. Very strong upbeat. DHI was hovering around 8/21 EMA and above all key long term moving averages.
It triggered long entry when price broke and closed above $23.25 resistance one month ago.
Break above $24.80-$25 resistance area could attract more...
