Hello all, EURUSD might be due to a retracement after all that hard labour it went through. Should price head lower we will get a new pivot to draw a new pitchfork from. Cheers !
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This chart is based on Alan Andrews' Action-Reaction Principle. Price will tend to react up or down on the black diagonal lines. Also significant are the patterns. Notice how the bull market that peaked in 1980 looks very similar to the gold bull market that peaked in 2011. Given where the gold market is in the cycle - with a right shoulder formed - the market...
Be careful with this chart. It's just a projection that lines up very nice with some of the tools i use in my Analysis. Alltough i don't use hte Fibs, i was just courious how it could fit the highs & lows and well, i'm surpriesed so far. Pay close attention to the A/R Set and the projection (grey bars). It looks very promising. But keep in mind that this is...
The Fib Channel tool is a great tool to draw Action/Reaction lines to project future support and resistance lines. At the moment, Dax is facing resistance from two different sets of lines
Hi traders, As I just showed few minutes about the AUD/USD, I am looking NZD/USD to see a reaction at the line of the channel which has been in play since Setember of last year. Let's see if we can see a top in that area (blue square). Good luck! Thiago Duarte thiago@duarteinvestmentgroup.com @thiagotrader
The Dollar Index (DXY) is close to a zone of resistance around 92.88 which is also 0.236% fib. Is in this area that I am waiting for a long time to reach and we might see a short to medium term correction or even reverse if the greenback shows some worrying signs.