Selling/Buying Potential - I have left an alert to asses the quality of the previous resistance line (Dotted line), I want to check if it tests it and gets back on the upside or break on the down side to set an entry.
P.S - Keep an eye if its breaks or tests in either the 0.50%/0.618% Fibonacci line for a close or to still hold unto the move.
Looking to short when price rises to just below the previous swing high. 2 short orders placed with the same stop loss but varied TP, confident the resistance level will hold and the long term downtrend will continue due to lower low on the previous swing.
Non farm payroll has kept me away from the USD pairs as this pair will be very volatile and unpredictable in the way it moves however I have still analysed it. On the 1 hour window im expecting price to keep moving within the side trend for now and potentially come down to 1.31403 and break below down to1.31073, if not it will come down to around 1.31403 and then...
Selling Potential - Its been struggling to break through the 23.6 Fibonacci levels for more then a month. If that level gets tested and broken I can expect it to rally & hit the trend line. Keep a good look at it to check if the breakout is not fake when alert occurs.
Buying Potential - You can see a consolation being formed which was around for about 3 days. If it breaks through it on the upside it could rally to around the resistance (Red colored)
If it breaks the support (Orange Colored) expect it to hit around the 1 month + old support (Blue Colored).
It has hit the lowest level in recent years and the last time it hit those levels it was in 2013 and there was a rally on the upside.
The trend line is also showing evidence that its getting tighter if it breaks that trend line expect a huge rally on the upside. I will leave my order above the current bar and hold this position till it reaches the 61.8% Fibonacci level.
Looking at a potential bearish Advanced Gartley Formation setting up here on the EURJPY 0.00% . LOOKING LEFT at the predicted "D" completion price you'll also notice that this level has recently been respected as both previous structure support and resistance .
The "A" leg of the Gartley Formation also represents a break and close below previous...
Traders - do not be fooled, the recent bearish movement of eur/nzd is purely a retracement following the pair's 2015 move - classic bull flag stuff. On daily chart, the pair closed above the falling trendline that has been in force since mid July, signalling further bullish action for the pair.
I suggest longing upon retest of falling trendline following...
Pair’s inside day candle pattern followed by a bearish break below Friday’s low of 1.2994 and a drop to 1.2960 suggests the pair is likely to head towards August low of 1.2865 levels over the next few days. This is purely a chart based view and a dovish Fed could of course trigger correction.
Retreat from the previous day’s high of 503.00 t o today’s low of 492.00 suggests the rebound from the low of 473 (Sep 12 low) has run out of steam and the prices could test head and shoulder neckline level of 474.
Moreover, we have had an inverse head and shoulder breakout failure…and that adds credence to the bearish view.
Burberry shares are up almost 3% and are the top performer in the FTSE100 index.
A day end close above 1377 (Aug 24 high) would mark a bullish break and open doors for 1468 (Mar 3 high).
However, check the volume… the three-day winning streak (including today’s gains) is accompanied by falling volumes. Hence, bulls should observe caution as there could be a...
Current trade set up - entry at 1.33074. Looking to add another position around this 1.32569 (Red line) just waiting for the US trading session to start off. Will TP from the first position around the green fib line and continue 2nd position
Friday’s sell-off if followed by a failure to hold above 100-DMA of 2120 today would open doors for a further drop towards 2095 (rising trend line coming from Feb low and June low).
On the higher side, breach of resistance at 2147.6 (Aug 2 low) could yield a further retracement to 50-DMA around 2164.
However, the index appears a sell on rise trade unless...
Despite the three-day losing streak and drop to 1.3235 earlier today, the pair retains bullish bias, given the rising trend line on the daily RSI and price chart has remained intact.
A day end close today above 1.3279 (Aug 26 high) would add credence to the bullish view and open doors for a re look at 1.34 handle.
On the downside, breach of rising trend line...
Despite the rebound of monthly 50-MA support in July and a positive August candle, the subsequent failure to hold above monthly 5-MA this month coupled with a drop below monthly 10-MA amid bearish indicators suggests the stock is likely to re-test monthly 50-MA support seen today at 2615 levels.
Shares gaped lower today and extended losses on reports the...