Now that we have broken through the structural support and a key level 0.94500 we can look to sell after we get a slight retracement. I would only consider this sell after the NFP is released and we get a clear indication if the DXY is going to break the ascending trendline suggesting more USD weakness.
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After a rather explosive bearish move to the downside, this pair is starting to retrace and in doing so is creating an inverted flag pattern. If price continues past this blue zone I have marked we could look for sells off of the re-tested structure. We need to bear in mind NFP will destroy the markets today and that this pair is heavily reliant on the price of...
Looking for more downside on US30 as we have broken the previous uptrend. Once price action completes that 3rd touch of it's current correction, which lines up with a previous swing at 24400 and the 71% fibonacci level this could look really clean for short positions.
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NFP last week took out stops and caused some panic. I am expecting this to be settled this week with the longer term outlook coming back into play
Looking at the dollar I am expecting a reverse in Fibre as outlined
See annotations, and linked idea below.
The QE announcement will have an effect on the longer term value of the pair; we will outline the possible effect on both scenarios.
We believe QE will not go ahead any time soon, if it does it will be announced mid next year (June) – even though very unlikely. However, we can expect a gradual decline in interest rates...
Here you can see 4 charts 1 is DXY and the rest that seem to be in good corraltion into what we see! But only at certain points! (THE ARROWS) Are not signals for BUYING or SELLING so do not take this as a signal which it isnt;
With NFP today It will be a very good way to see what will happen to DXY and other currencys we see XAUUSD (GOLD) move like a lion...
We have various indicators of a reversal:
• Divergence in play
• Potential reversal channel in line with the divergence
• 200 EMA acting as our resistance in target area
• Price level 1.30750-1.3000 has been a key Support/Resistance level since 2016
• Oil prices looking bearish which influences the value of CAD
• NFP positive speculation for the USD...
weekly chart is showing usdcad in a bullish flag pattern.
daily chart shows that usdcad entered an ascending channel which broke out and retested the trendline.
however enter at your own risk as NFP is due on a Friday so anything can happen.
The announcement of the Federal Open Market Committee (FOMC) Fed meeting results was the main event. As we expected parameters of monetary policy were left unchanged. As for the comments, the Fed has been extremely positive about what is happening in the US economy recently. At the same time, the Central Bank noted weak inflation indicators, which were perceived...
After a successful short yesterday, it is now time to go long on this commodity.
I have 4 entry zones and already have met 2. The more entry zones met the bigger the move to the upside will be.
Risk management is key on a trade like this.
Trade safe and good luck!
Techincal analysis is always my first port of call and as you can see I have highlighted a Invese Head and Shoulder pattern which looks to be forming which essentially is a trend reversal pattern. Fib has also help me uncover support regions in which to trade from for entry and taking profit, this along side support and resistance from top level analysis will also...
GBPUSD has recovered greatly since the flash crash early in the Asian session on 2nd Jan. From a technical point of view we came and tapped a big psychological resistance level at 1.28000 before coming right back down and breaking through the ascending trendline. Upon a break we look for a retest to sell & we have that here. along with this we have may confluences...