Chart setups: 1- Bearish acceleration after putting in a reversal candlestick-shooting start- drawn on April 10. 2- Slant negative divergence formed on MACD. 3- Breakout below SMA20. 4- Strong bearish reversal affirmed by Vortex. 5- Parabolic SAR signals a new trend coverage. Trading Strategy: Place a sell stop at 0.8535 with targets at 0.8320 -61.8% Fibonacci- of...
At the moment the long term technicals is showing that there is a bullish divergence in this pair. While price is posting lower lows, we are seeing stochastics posting higher lows. In my opinion, once prize closes above the 15ema, there is a probability that the pair might head higher, possibly in the 0.966 region.
I like these kind of setups very much: clear downtrend, confluence of support, key moving average level, at a Fibonacci retracement level, with confirming candlesticks. I'm not in this trade because I'm at max risk capacity already, but I'd be short at 8840, stop at 8872, target profit at 8697. This would setup a reward/risk ratio of over 4:1. www.informedtrades.com
USDJPY is in an uptrend channel. Several inside bars. Price action is pointing downwards. But only as a retracement. Main trend is upwards.
Looking at the weekly USD/CAD chart. There's a case to be made for a continued move to the upside. One cannot ignore the base formation that took 5 years. We are witnessing price moving at a higher angle. I'd like to see price hit the first relevant blue line (middle arrow) with price not piercing the lower line (lowest arrow) - should price correct / consolidate....
EU has been a relatively rubbish trade over the past year if you were looking for some trends. This sideways action has to break sooner or later. I prefer a play to the upside in line with the higher highs, higher lows and the trend line indicated.
Based on my previous analysis in Eur, I am short here. Let us see... Petr YouTube Channel: bit.ly TWITTER: @FlexibleTrader E-MAIL: psuchanek@smbcap.com Blog: bit.ly
Many erroneously believe that market targets cannot be known until a stock has been trading for a specified period of time. As our clients are well aware, we identify the relevant targets very early in the trading cycle, sometimes even before the first 15 min of trading on the date of the IPO. How is this possible? Contrary to what many are taught , the ...
So after a bullish unemployment data, the Aussie hit a high resistance level and is dropping lower. There are some important observations to bear in mind. 1. This could be a possible Cup & Handle formation we could be looking at. (Represented by the blue channel lines sloping down). Its still early, but this pattern is worth keeping an eye on. 2. Price quickly...
Today was a good opportunity for Buyers to re-take the Monthly Trend Line. However, everything dried up and Sellers are now seemingly able to either stop the Buyers i their tracks or hold the market before the next news event.
There will be some important announcements coming affecting the CAD/USD. It would be hard to make a prediction at this point but a buy stop or sell stop on either side could be a good idea. Time (April 16th) Country Event Importance 2 am (9 pm ET time) China GDP q/y High 2 am China Industrial Production y/y High 2 am China Fixed Asset Investment...
Friends, Last January 25th, 2014, I defined a bearish target as TG-1 = 18.815 - 25 JAN 2014, and offered the following note: ------------------------- #XAGUSD: Predictive Analysis / NEW Target | #XAG #XAU #Silver #Gold - For the record, chart annotated as: "xagusd - 2014-01-25 - h4- new TG-1 = 18.815 - 25 JAN 2014 - 4xquad forecasting" TECH-NOTE: #Silver...
AUDUSD hitting some resistance levels. The 20min chart is also showing some signs of exhaustion. It would not surprise me if we see a bit of broader USD strength. Dollar volatility has been low... we could see a dollar volatility expansion in the near future.
AUDUSD hitting some resistance levels on the 8h chart. The 20min chart is also showing some signs of exhaustion. Check the 8h chart (posted subsequently) to better understand the possible dynamics
Chart Setups: 1- Bullish AB=CD formed with PRZ meeting 76.4% of the entire upside wave from 1.2335 to A point at 1.2525. 2- Slant positive divergence drawn on Stochastic. 3- Bullish candle "Piercing pattern" formed at the aforementioned Fibonacci confluence. Stop loss just 30 pips below D level at 1.2415
Friends, As a new week opens, a bird's eye view of the Forex market might be best appreciated if taken on the back of the US Dollar Index (DXY). SOME FUNDAMENTAL POINTS AND OPINION: At this point, fundamentals are expecting to carry the greenback upwards, on the general assumption that the Fed will continue to taper. We also discussed earlier weaknesses in...
Price has completed a full ABCD pattern from Sep 2012 and also a minor ABCD with 161 extended D-point. Since the price has been attempting to reach targets. First target was the full swing CD move of minor ABCD. The technical target hasn't been reached yet (1,0790). One scenario is more bullish. Since price completed the large ABCD prematurely w a fast latter CD...