GBPUSD is trading within a rising parallel channel .
Next week we can expect a bullish continuation from its support.
The next goal for buyers is 1.2425 structure resistance based on 618 retracement of a major leg.
what a short rally on GBPUSD on Friday!
the price has surely broken below a major daily structure support level.
now we will expect a further decline to the next major levels:
1.20 level is 2019's structure low and I truly believe that it is the current goal for sellers.
1.19 level is 2016's structure low...
DOW30 is Bullish - We look to Buy at 24350
▪️ The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
▪️ A higher correction is expected.
▪️ Previous resistance level of 24550 broken.
▪️ Signals are mixed but remain mildly bullish with a short-term timeframe highlighting an exhaustion count.
▪️ We look for...
DXY Weekly forecast for 24th-28th Febuary 2020
- Last week T1 was hit at @98.9
- Furthermore using this as support price went and hit target 2 @ 99.35
-Going into this week we can see price dropped back too target 2 area from last week, This move could be looked as a healthy pullback to previous key areas highlighted
- Only reason to be staying in sells and going...
In Oct 2007, Cooper RSI diverged from price, showed a downtrend.
This predicated us stockmarket crashing 9 months in advance.
In Dec 2008, Cooper RSI diverged from price again showing an uptrend.
This predicted the bottom of us market bottom.
DXY Weekly forecast for 3rd - 7th Febuary 2020
- Last week Us index hit target 1 @98
- Created double top at target 2 area
- Completed this double top with a drop thru my key levels @97.75 and used this area as further resistance to second key area @97.4
- Going into this week with many aspects to take into account other than tecnicals - like the coronavirus
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I am paying close attention to AUDUSD pair.
On a daily we have a nice match between projected harmonic leg and structure support on the left.
+ the market has recently formed a dodji formation so I think that we have a high chance to see a pullback from 0.685 level.
for confirmation, I will be waiting for...
AUDUSD is coming closer to a strong resistance area .
bulls are pushing the market within boundaries of a rising wedge pattern.
if you want to conservatively trade this setup, the best strategy that you can stick with
1. Let the market reach the underlined area
2. Wait and sell bearish breakout of...
USDJPY is currently retesting the recent market high.
It looks like the market may form a double top pattern.
Pay close attention to a rising channel and sell the market in case of a bearish breakout.
Stop will be strictly above the higher high.
Target levels: 109.3 / 109.0
*if the market goes higher and closes above the...
dollar index is close to a major trendline .
this trendline matches perfectly with horizontal support.
I believe that we can expect a bullish reaction from the underlined area.
Target levels are:
For now, the pair is in complete indecision!
The side of the breakout of the horizontal range will show us further market direction.
I will be focused on a bearish breakout to short the market and catch a pullback!
My target levels will be
We look to Sell a break of 8395
Last December investors were not treated to any sort of Santa rally. In fact the first trading day of the month last December was the start of a major sell off. Will history repeat itself? Is the Santa rally dead?
The medium term bias remains bullish.
Price action continues to trade around the all-time highs.
This week AUDUSD has broken below a key structure support level.
The breakout is considered to be confirmed and I expect bearish continuation next week.
Target levels are all in 20 pip range :