DVtheTrader

DVtheTrader

Once again the market has been in a range this week with rejections higher of last weeks close. On the daily chart I can see the market has formed a double top and Fridays movement was to fill in previous support become resistance. This leads me to believe the market is in favor of the USD and untop of that fundamentally the hawkish stance of the FED including the...

DVtheTrader

DXY remains in consolidation. Despite this strong move reaction from the FOMC and NFP, DXY couldn't break the strong support level and is in confluence with a Flag pattern just like EU.

DVtheTrader

This is a Daily chart i am analyzing. At the time off doing this analysis EU Has reacted of the top of the bear flag. Its still similar to my idea from last week. The Bulls couldn't pass the bear flag pattern or break the top, and is now going down again. My LONG TERM bias of EU is the dollar will remain bullish. The green level is a strong weekly support level....

DVtheTrader

Welcome to my simple EU Analysis. EU remains in a bear flag, this week i am bias to anticipate a breakout of the flag pattern. With dollar being a safe haven, Over-powered U.S Eco. growth overall, and December nearing which is when consumers spend the most i believe EU will go down and quite possibly, NOV.1st the fed will increase rates higher than expected.

DVtheTrader

We have the EU right on the trend line. What are your guys thoughts? I am in a mixed state at the moment as the momentum for this pair seems to be heavily bearish, but other economic factors bet the EU may get stronger against the USD. Will EU be able to bounce back up this upcoming week?

DVtheTrader

On here i see EU going up. Bear candle has touched what was once powerful resistance and now it can act as support. Small reaction occurred before market closed. If broken, my bias is still bullish as it can fill the yellow line previous resistance turn support for completion of a "W" pattern. COT Data is bullish EUR as well compared to USD which institutions have...

DVtheTrader

Bias is Bullish DONT BE TRICKED. Daily candle got rejected to the upside, uptrend structure has not been broken. On the daily timeframe, it appears to be a double top, however, the candle still rests at the support neckline level, therefore its not 100% bearish reversal yet.

DVtheTrader

After completing the double top on the previous years, now we are testing a powerful level again of what used to be support may now be resistance. Month of February gave us a rejection to the upside, so far we see a rejection as well on the MONTHLY chart. I can only speculate we may end this month bearish.

DVtheTrader

Here we see OANDA:USDCAD 4 HR CHART on support neckline of possible inverse head and shoulder formation. All we need, and wh at ill be observing is for a strong bullish confirmation candle.