This is my update for DXY.
Dollar index has recently broken below the support line of a rising wedge.
It is a very strong signal which determines a bearish sentiment.
We can expect a rally to 97.5 level and my midterm projection is bearish.
Hi, dear Traders!
Monfex is at your service and today we overview NEO/USD.
We obviously see the triangle formation which locally is in the bearish trend. Breakout of the triangle's support or resistance lines will be first sign for some actions(buy or sell), but for a more confidence we need to act by breakout the key levels.
The great volumes that are also like...
though we see some correctional movement on silver
my outlook is still bearish .
currently, the market is standing just beneath the major falling trendline .
I expect that selling volumes will accumulate and we will see a bearish breakout of a bear flag .
for us, it will be a perfect selling signal.
1W Chart shows that price is moving in consolidation in this triangle pattern and that the exchange rate is above the 200 EMA, therefore suggesting the current direction of price is still upwards:
-Price can exhaust outside of a resistance/support zone. It's not forced to stay exactly within restricted channels. I would...
I was asked to share my thoughts on nat .gas :)
on a daily the market has reached a key level of support:
conjunction of horizontal support with a falling trendline of a broken channel and rsi divergence.
I think that buyers will push the market to higher levels.
Key levels of resistance are:
very interesting situation on GBPUSD .
The pair is coiling around 1.27 structure resistance
and we see a clear rejection of this level.
The pair has just formed a double top pattern,
and there is a high chance of switching the sentiment from bullish to bearish .
Our trigger is the bearish violation of 1.255 structure...
Price seems to have reached a bottom but overall we are still in a downtrend and i do believe we have more downside coming for this pair. Nice head and shoulder formation forming on the 4H chart. We can see price break back into the daily down trend and continue down to 0.6500 before looking for long set ups.
-The 1W chart shows a re-test of the support TL on this triangle pattern. This shows that there is a lot of selling pressure and bears are in control.
If you look at price in the circled area, you can see that as price increases, the retracements are strong/deep; showing that if price were to continue higher, the bears will come back and drive price back down...
I was paying close attention to GBPCHF for a while
as it started approaching a significant level of resistance.
Finally on a daily RSI shows us clear divergence and very nice dodji.
The market also leaves clues on a 4H:
pair was trading in a rising parallel channel for more than two weeks
and finally, the...
on USDCAD there is a high chance to see a bearish continuation
after a pullback from 1.318 level.
the price has recently reached 1.324 level - significant level of resistance.
and we see a dodji formation and clear rejection.
target levels are:
T1 - 1.3205
T2 - 1.3180
Stop - 1.325