This chart has recently projected the rate of interest rate cuts very precisely. In case the chart analysis is correct, it predicts an additional 3x FED interest rate cut. This may be a rising factor for the euro. Therefore, I expect the current appreciation of the euro to be the start of a longer process.
Potential to long EURAUD and keep riding the current bullish trend.
Consecutive higher highs and higher lows being made. The bottom trendline has held strong with the 4hr 50EMA
Looking for a new higher high and targeting the -0.27 fib extension for target profit 1.
If this level breaks then the larger fib extension could be reached for over 5:1 RR
after a massive buying reaction last week we see that GBPUSD is slowing down.
rising wedge formation is a very good indicator of weakening momentum.
More the market contracts within the pattern, higher the chances that it will break to the downside.
I am waiting for a bearish breakout of the wedge to short...
We're still following the down trend. The negative US news launched our precious metal high during NY session, but at the end of the day the market always goes back to it's trend. We can see how it went over the 1491 resistance and then went came back down to settle under the resistance again to continue descending.
This could be a great opportunity for a...
This is my update for DXY.
Dollar index has recently broken below the support line of a rising wedge.
It is a very strong signal which determines a bearish sentiment.
We can expect a rally to 97.5 level and my midterm projection is bearish.
This is the more detailed entry for my long position. I shared this set up previously and was waiting for the sell off down to my buy zone.
All analysis is on the chart.
TP 1 is the previous resistance and fib -0.618 extension
TP2 is longer term at 0.66
descending triangle formation on AUDJPY.
Pay attention to a horizontal support of a triangle!
Bearish breakout of support is a signal to short the pair.
We don't know how long the pair will be trading within the triangle,
but when it breaks, set your stop above the last lower high!
target levels will be: