Price made a decent 5 wave down which has already ended at 1.2795. Ideally, cable may temporarily rise towards its 61.8% retracement at 1.4165 area before downtrend resumes.
As long as euro price is contained inside its corrective channel, price might still push up towards 1.1225 area. But a break below 1.0910 may confirm that the trend is once again bearish.
USDMYR 3.9552 is a strong Daily Support, Let's see how market movement in this few days. Happy Trading Day !!!
following a break and close below a near term trend line A close below 0.97790 on the 4 hour chart could lead us down to 0.96800.
Don't lose out, don't try to get too clever. The direction right now is DOWN to fill the void of the recent spike. Will the UK stay or leave? Don't know, don't actually care. All that matters is that we monitor and FOLLOW the patterns of price. Should the UK remain hit the reverse upward trend as of tomorrow when the referendum is done. Should the UK leave keep...
Hello Traders, We have a potential BAT pattern If price can reach 1.4094. Today CPI Inflation figures came out less than expected at 0.3% which has helped pushed price down close to our level of entry. This area has confluence of support and trend line support. There seems to signs of indecision in this area too. If we can continue to put in higher lows this...
And yes, based on our last analysis, Crude Oil almost managed to touch the 48.00 area we are waiting. Price is already starting to rally, but a confirmation beyond 50 area must be seen first.
USDJPY was not able to break below 105.54. Instead, it created new highs for the past trading days. If price rally above 108 area, it suggests that bulls are in control once again.
We may still see cable move upside temporarily. But overall trend of GBPUSD is still down.
Still waiting for EURUSD to break away from its bearish channel (red) to confirm bullish move targeting 1.1375 - 1.1495.
As we've stated in our previous analysis, we expected AUDUSD to continue rising towards its 61.8% retracement level. But price declined to as low as 0.7330. We still anticipate aussie to rally to 0.7570 before trending down. A break from its bearish channel (red) would give us a clue.
Unlike Gold, Silver may still move one step high reaching 17.55 before turning bearish.
Gold hit previous targets at 1263-1265. Upside movement could be limited towards 1288-1290 areas. Break of previous high of 1304 might suggest that a bottom has been achieved already.
Cable was not able to move up to our target from our previous analysis. Instead, it continued moving down, which tells that a top has been formed already. Price has room towards its 1.618% fibonacci level at 1.4055 before it corrects up.
Gold is currently bullish, with 1263-1265 as target.
Hi Traders, I don't typically trade this pair but I like the setup to say the least. Impulsive short move (a), followed by the current corrective price action (b), while i'm on the side lines waiting for the beginning (0.7660/700) of a possible (c) wave to the downside. Risk/Reward for this trade seems like it will be very good. Stop Loss, depending on how close...
EURUSD like other currencies paired against dollar, is still contained inside a bearish channel. Upward movement is seen as a correction which may reach 1.1216-1.1242.