Broken symmetrical triangle &a retested breakout area. Powerfully sat at the pivot level now with all R levels visible within trading range on a near term basis IMO. Company released good news re project & more to come.
Fallen outside of the ascending triangle on negative divergence which is extending into all longer time frames.
This looks like it has broken out of the cycle low & then successfully backtested the breakout. RSI, sentiment all support the low being correctly identified. This looks like a good opportunity to sit on a long move upward.
Remains close to 2yr support & extreme Bearish positioning which suggests this is the low/bounce area. Would continue to buy weakness OR buy into the rise if it continues above the pivot area in orange (1.343).
Failure on Friday to move much lower than $1290 and certainly not even challenge the trending support despite the NFP data tells us the bottom is truely in. I think this is now an accumulation zone whilst we await FOMC later in the month. Will slowly trend up until then.
Very narrow range getting increasingly narrow. Extreme move coming. I'm looking at GOLD and Dollar for the clues & probably FOMC is the catalyst but Silver might be the trade to play rather than the other two.
3rd break was a false one as they often are, but not the 4th. Very clearly above the triangle and on the RSI. Expect some profit taking at 10p but hold for the highs now.
Best entry here for nearly a year. A buy & hold if ever there was one.
Looks a good long. Also decent set up for base metals...
4hr chart shows resistance at the R3 level which is also the same as the weekly pivot level on the daily chart & looks to have run out of steam here. RSI has also put in a divergence. Unless this moves immediately higher on Monday I would look for a short towards the R1 level at $2.675 (also the 200 MA is here).
This index has now corrected 5% and on the daily chart the RSI has floored. The price closed the week bank on the 34EMA which has been a broad area of support. Interestingly and what this chart shows is that the fall has closed a major gap at 25576 but we now have a huge gap from the start of this drop back up to 26435. BTFD still the underlying mentality?
Like EURUSD this is overbullish and over extended. With strength in the DXY we should see this pair take a breather. At the very least, this should pull back to form a flag shape for move higher with a target in the 140 area.
Failed at the bid for higher on Friday and moved lower with dialler strength. Good levels of selling into close so now looking for an overdue corrective move but still within the bullish green channel.
Bottomed in the channel and hitting an old weekly pivot & NFP data suggests a near term period of strength in DXY. Long dollar index. Looking for a revisit of 90.
The RSI on this 4hr chart has bottomed, we've seen it touch the channel bottom & I now think we will see a sustained push to break $1363 (black horizontal) which is the present resistance. With USDJPY looking set to head lower the conditions seem likely for a surge during the Asian session once we reopen after the weekend. Stay long to $1363, then buy more at the...
Dollar on the weekly timeframe still has room for lower on the RSI in my opinion. This is likely to lead to a retest of last weeks lows around 88, and possibly the weekly pivots on the chart slightly lower. My channel eventually takes us towards the 86 region but that's for later.