Weekly charts represents series of data points where each data point is comprised of the price movement for a single week of trading.
This chart type has been used for a long time by traders and typically applicable for long-term trading.
Amma telling you lot - get ready for PLATINUM!! Avoid dithering. Look at the crazy structure level and support. Yes - price could fall out as well as it could break north. Nonetheless this is an opportunity for a controlled loss (aka stop-loss) on a lower time frame e.g. 1H to 6H. No guarantees - no predictions - no bull! LOL.
Is Ripple fully loaded?!
On the chart showed a potential scenario in the long term but possibly we will witness a full XRP reversal very soon.
We are getting close to a strong support level so let's see will it bounces up for a long-awaited uptrend.
Many have been watching NSDUSD. In this analysis I spot and evaluate where the bearish pressure is coming from. There are opportunities on 1H to 6H time frames, depending on reasonable risk tolerance relative to account size.
on the weekly and daily, I have seen price is in a ascending channel with price retracing to a support zone inline with the fib retracement of 0.618. On top of that, an inverse h&s appeared as well which is inline with the analysis as well.
CFTC data shows YEN bears were at extremes a few weeks back. They have started to unwind their positions and thus accelerating Yen's upside.
Nikkei225 which is in close inverse-correlation with YEN is tracking lower too.
We expect market participants to continue unwinding YEN shorts from over -$12bn short to -$7.5bn, which would transcend into a 2-3 handle move...
If we look to the DXY idea we expect USD weakness. The DXY is made up of 58% EURO. Which is why there's a heavy correlation between the Index and the currency pair.
If we expect USD weakness we must expect EURUSD to move higher, price is currently sitting at the key support much like the DXY sitting at the $95.00 resistance level. If price holds at this key level...
EUR weakness proving a consistent theme across some of the longer timeframe charts.
EURCAD has almost fully reversed the Jan-Mar ascent and with startling symmetry. We saw price pay the upmost respect to the 2016 high with a few wicks breaching the level before sellers drove price south.
For clues as to where this pretty choppy pair might head next it is worth...
Looking here at the Swissy, a pair not long added to my watch list, I'm already short USDCHF from the open earlier today. For me the this could perhaps be one of those times where the fundamental analysis and the technical analysis seem to match up rather nicely. IMO the USD will continue to weaken over the coming weeks, and paired with a nice rejection candle...
The Euro took a beating over the last several days but the game is not over! This is just hotting up. I refer to some key areas for possible reversal on the lower time frames.
EURUSD is a ratio of two currencies. It is important to look at the USD, which on the world stage has actually been weakening. In the video of the weekly chart I look at the strength of...
Taking a step back from the intraday/intraweek stuff here and looking at a longer term position idea on the GBPJPY. If we close out this weekly candle below the trendline then I would be looking for this pair to continue on a bearish move towards the potential target area on the chart between the 50% & 61.8% fib levels. Righ where we intersect with a monthly...