We are currently in a long sideways phase that has been exited only briefly in a little over a year. Within the price range of approx. $53.00 – $63.00, the value is oscillating in sometimes larger, sometimes smaller movements. Since the beginning of December, a clearer downward trend has now formed. The value of the stock is showing rising volume in the downward...
After breaking to new lows, price has retraced to test previous support
Another test of the recent swing high around 119.800 alongside the potential bearish divergence could offer a short opportunity and chance to join the trend.
Likely targets are the recent lows at 118.600, although if new lows are set 116.00 could be the next turning point.
Note of caution:...
Tweezers pattern at the 61.8% Fib level of the recent breakout suggests bullishness. I would look for opportunities to get long intraday.
This instrument has been ranging for some time, so I would be conservative with targets.
The 38.2% Fib, the recent range highs and then the last swing high would be areas to watch.
bit.ly
AUDCAD still looks very bullish in structure. We appear to be inside the start of a wave (iii) of 5 of II of a possible larger Y which technically speaking is a very bullish signal. Nevertheless, we await a daily candle close above 1.01345 to set pace for 1.03663/1.04365 target zone. More aggressive entries could be after the daily close of current candle...
After a steep fall in price in today's session price has found support between the 50% - 61.8% Fibonacci levels.
With all the recent sideways action, it is harder to predict the moves in this market, but I would tend to go with the direction on the lower timeframes in these markets.
It looks like there will be a little bullish relief going into tomorrows session.
Silver, like its sister Gold, is bullish for the moment as long as it trades inside the channel (yellow). Goal is around 18.200 area.
Happy trading everyone!
Because it's still contained inside a bullish channel (red), we are expecting for the price to go up. It might target the 1270 area, which is the 100% equivalent of the previous uptrend. If in the event it will break outside the parallel line, the price may automatically go down.
Happy trading everyone!
uk.tradingview.com
Our outlook for EURUSD in the bigger picture is cautiously bearish. The pair seems to have traced or is tracing out what seems to be a large A-B-C pattern with the final leg of wave C still unfolding as shown above. However we are attentive to the clear bullish divergence on Weekly MACD as shown in chart above (red lines).
