Price has pulled back to key support clearing the way for bulls to come back in and take control of Gold to new highs. A counter trend line break would add additional confirmation the bulls were taking back control of Gold. Targets are set as the next two key resistance areas to the upside at 1,358.10 and 1,375.03 respectively. Further declines in the USD Index...
Price has pulled back to a key confluence area of the horizontal support area and the upward sloping trend line opening the door for longs up towards the target highlight in the chart.
Price has bounced from the bottom of the range highlighted on the chart and has broken the downward sloping trend line forming a sideways corrective pattern (rectangular formation) clearing the way for longs to the first target at the top of the range.
Last week saw bullish momentum coming into the NZDUSD causing price to begin forming an Inverse Head & Shoulders pattern signalling a potential rally soon in the NZDUSD. Price is currently still in the correction phase of the right shoulder and a break of the neckline will clear the way for longs to the target highlighted on the chart which is both the technical...
Price has been correcting the overall uptrend since the 1st of August with a channel to the downside. Last week we broke this channel and price is now consolidating above the counter trend channel with the possibility of an A,B,C corrective pattern being formed. Whether or not the C wave completes, price is indicating a possible resumption of the overall up trend...
Price has made a downward sloping Head & Shoulders pattern with a test of the neckline. A break below the neckline test will clear the way for shorts down to the Head & Shoulder Target 1 and Target 2 at the next key area of support highlighted in the chart. The formation of a downward sloping Head & Shoulders pattern however indicates the possibility of even...
Price has been consolidating above the key area of support highlighted and is testing the upper downward sloping trend line. A breakout of the consolidation pattern clears the way for longs to the next key areas of resistance in the EURUSD.
Last week Oil failed on a breakout of the upward sloping trend line and traded back above the key support level at 47.28. Price is now consolidating above both the key support area of 47.28 and the upward sloping trend line pointing to an impending rally in Oil - The next key area of resistance and test for the bulls it at 51.70.
NZDJPY has pulled back to a previous resistance area and is in the process of forming a Head and Shoulders pattern. A break of the neckline will provide an opportunity for shorts to the 79.200 which is the Head and Shoulders technical target.
Price looks to be in a 3rd wave with the 4th wave just completing in an ABC Zig-Zag pattern and a re-test of key support - Clearing the way for a 5th wave up to the next key area of resistance highlighted on the chart. A rally in Oil should have a positive affect on the Canadian Dollar.
The GBPNZD has been trading in a well defined range and has once again found resistance at the range top. This clears the way for potential short positions down to the range bottom and target highlighted on the chart.
AUDUSD has pulled back to a key level of support and last week broke out of the downward sloping trend line. Price looks to be making an Inverse Head and Shoulder pattern and a right shoulder forming on a pullback and re-test of the broken downward sloping trend line could provide a great opportunity to initiate longs up to the next two key areas of resistance...
Price bounced at key support putting in a Bullish engulfing candle in the 4h chart which broke and closed outside of the minor downward sloping trend line - Next week provides the opportunity to initiate longs on a re-test of the broken trend line with a view to the 1.31400 level as the next key area of resistance to the upside and the first significant target for...
