Moving to middle of price channel...
Main downtrend was broken yesterday. Market started with breakaway UP gap => indicator of bullish power. Better to wait confirmation/ At least +2 days for forming 3-rd bottom. Look for bullish patterns between 68 and breakaway gap. Buy with target zone 70-71.8. Stop under breakaway gap
Seems like a good entry point beg.coming week. Not sure about the CAD so far, but the RUR seems very motivated to go up.
Punctured downward trend since 2011 and holds the above for several days
FXMM continues growth after breaking 1220 resistance. It is building a bullish 5-wave pattern unless it breaks below broken resistance point (dotted red). The bullish momentum can mark the start of the new uptrend that can last for several years and most likely complete wave 5 at 1.618 fib level(1301.09). A bullish breakout above this level could see wave 6,7,8,9...
Should we be concerned about the USD/JPY "BEARISH" Divergence?
Hi All, the correction in the markets has been long enough and it has now become a correction of one larger degree. This means that the subsequent moves will be of much larger magnitude than I had originally thought. Specifically for the holders of Russian roubles - my only advice is that those of you who have any spare roubles in the pockets should convert them...