This coincides somewhat with the correction in the USD I just posted about about. Bloomberg reported that confidence in the Euro is increasing, hence it might be the right time to consider a long position. Note the increasing slope in lows here followed by increased buying pressure on the EURUSD.
The DXY has been rallying like crazy the past few days. The higher lows indicated over the past week or so indicate a solid uptrend. The MACD and RSI illustrate that we still aren't over bought yet, so if you haven't gotten in, there still appears to be time. Profit targets can be garnered by the levels of support and Fibonacci levels anchored at the yearly...
I'm still short TS, even though as we can see, its really ripping right now. Its basically just mirroring SPY, which is really taking off. Notice there is a strong level from three days ago that it seems to have rejected.
It looks like the DXY has gained some momentum and this morning and has 'bounced' off the support point around 96.60. Looks like we could be due for a major retracement from yesterday's bearish momentum. Take the Fibonacci retracement illustrated to set some intermediate profit targets. A word of caution, however, that all eyes are on the FOMC minutes, so this...
The USD looks strong this morning. Notice the nice wedge pattern forming. Although it looks like it briefly rejected that level at 0.65 or so, the higher lows indicate it still has some gas left in the tank. Also note the MACD/RSI are in the zone and OBV suggests strong buying.
We see a nice wedge pattern forming, plus all the technicals are there. MACD/RSI are in the 'sweet spot' and the On Balance Volume suggests net buying pressure. Looks like a great breakout waiting to happen.
We see a nice wedge-ish pattern forming and we've already seen it break past 113.68, the level of resistance from back in August. The indicators suggest its a touch overbought (intraday), but the On Balance Volume indicator suggests there is a ton of buying pressure behind it.
As the price of oil falls, we expect Oil ETF's to fall in line with it. Note this chart pattern indicates a breakout imminent either way. The Fibonacci levels give some intermediate profit targets before the point of support around $30.
Nice bullish flag pattern for Gold. We have a very strong uptrend which has consolidated nicely. It looks like a breakout may be imminent. In fact, due to the tumult in the market and currencies, I am surprised we have not seen it earlier. Perhaps it will capitulate at 2PM tomorrow with the FOMC minutes.
Tenaris looks like it still has some room to fall. Note the nice level we are forming at around $25.32. But we have a series of lower highs, indicating it cant quite cut it. Looks like smooth sailing to that Fibonacci level around $24.80. Looks like a good profit target.
I was underwater in my long position on DIS for a bit, but I figured it was a brief retracement. Today proved me right with a solid open drive up day type. If it can test that high around $114, I'll sell half my position, and let the other half ride out to $130.
From low interest rates to more quantitative easing all over the globe from Europe to China to Brazil, fundamentals really boosted SPX last week. It absolutely crushed the upper levels, set by both the relative highs and by Fibonacci analysis. Monday, RBA minutes come out, and assuming they are dovish (which they have no reason not to be), we can expect SPX to...
After taking a big hit early August, which set off a bearish period for DIS, they really started coming back with a vengeance. They've been all over the news, from the new Star Wars movie everyone is going nuts about, to a new streaming service which may compete with NFLX in the UK. Note the technicals: beautiful channel pattern with a breakout to the upside. ...
Its already slid below IPO levels, but after the Morgan Stanley downgrade (see the link) you can expect it to slide further, as evinced by its pretrading moves. Note that recently it was really trying to make a comeback, with significantly higher momentum and higher lows, but it still could not break that level from 7/29 around $33.20 or so.
Enter trade when vol appears outside of 2 std deviations of the difference in last consecutive minute bars for a period of n minuts. exit trade near the middle boll band.