Crude Oil seems to be forming a bearish gartley pattern, as we go in to the Opec & Non Opec Producers April Meeting. Nevertheless, we are in Over-Bought territory, and expect a retrace to around 36-37 Leg zone.
Price on the daily has respected the 78.6% Fib Zone of a Bearish Butterfly Structure. We are currently looking to develop the B-C Wave. Price action of S&P500 is bearish and is losing steam and strength for further upside as in monthly chart too.
S&P 500 is looking for a steep down movement in coming weeks. We had a nice bearish crab formed, reaching and respecting every levels of it. Possibility of a drop between 1400 - 1700 Zone.
GBPUSD is currently in excellent pattern position, enabling traders to benefit from Long and Short if the bearish butterfly setup develops. Currently its a SHORT Setup from 1.4485 - enabling to give around 200-250 Pips to the downside. We are favouring some USD strength in coming days.
Dont let the Crab bite you. With a sudden Jump in EURO, and a steep fall in DOLLAR, something really is not technically understandable. After some deep analyzing, we have another pattern being grilled up - Bullish Crab. We still favour Sell on Rallies, and look EUROUSD to Fall Sharply in coming weeks. Its not a trade recommendation, but we have gone short at...
In the Daily Chart, we see the steam of upside losing and should be stalling at around 1.1310-15 zone. With coming in the over-bought territory, and a possible bullish butterfly formation, completing "C" level, it should hint a drop to the major support line at around 1.05500 Zone.
It appears to be a Bearish Butterfly in progress, as we reach at 78.6% Fib Zone, Price is over bought, and tend to correct, with RSI indicating to take slight dip. We shall see how it plays.
Crude Oil saw an uprise in the prices yesterday, with no such fundamental news, technicals in play. It seems there is not much support or strength in the rise of the prices, creating a bearish cypher pattern as well. Currently price just below previous Support now Resistance, touched couple of times. It appears price may see another down-leg. Let us watch.
As i am researching and putting more ideas to the Charts. They are communicating, and it seems we might see a Mirror (Duplication Movement) of the previous Structure, lets see. As well there is an Ascending Broadening Wedge, which we broke earlier, now pullback - tested the Resistance (previous support), as well the Hidden Bearish Divergence, all seems to give us...
As the market gets near to the March 10 - ECB Meeting, Technicals are hinting of weakness pressure building up. We have created a Bearish Cypher Pattern, along with Hidden Bearish Divergence. Earlier historical price strucrture with Hidden Bearish Divergence nature has always flushed down the prices. Would we see this time ? It surely looks like, with ECB...
AUDUSD seems to have completed Bearish Butterfly Pattern. RSI is also indicating for the movement to continue downside, being in the Over-Bought scenario, which is confirming as well on the completion of Harmonic Pattern - Bearish Butterfly. We favour Shorting AUDUSD, for targets 0.7050 zone.
At the moment EURUSD is hinting a completion of Bearish Cypher Pattern as well confirming with Hidden Bearish Divergence, all indicating Sell on Rallies is the Play here. We are looking at around 1.0750 zone.
USDJPY at 114 levels is looking to hit back down around 112 zone, before another up-leg. It is currently developing Bullish Cypher Pattern as well Bear Crab Pattern Completed. Looking to see a good DIP from here to 112 levels..
It looks like another down leg in formation, as it nears the resistance of the falling wedge pattern. Market seems to take it near 61.8% Fib Correction for the major up-trend basing at around 148 levels.
GBPJPY has recently seen a huge drop off in previous days. It is developing Bullish divergence and appears to create a short-term LONG opportunity.
NZDUSD shall see a dip towards 0.6498 Zone, before rising towards 0.6891 levels. From there market seems to push it back down, as it has previously 3 times, should be a great zone to Short at those levels, aiming at 0.6250 levels. Bearish ButteryFly Pattern on the 12 hour charts, indicating further downside.
Get Ready for a bigger dive in NZDUSD in coming days. See a bearish butterfly pattern being formed in 12 Hourly Chart. Slight 250 Pips upside, and than a good zone to short at 0.6880 - 0.6900 Levels. I am looking at a dive towards 0.6250 Levels in coming days/weeks.
Draw your charts. Paint them, the message will come to you. Daily Charts - AUDUSD, indicate a further drop to occur to the 161.8 Fib Zone at 0.6150 levels in coming weeks.. A move above 0.74 zone, would indicate a slight change of trend, but staying Neutral at that point would be healthy. Current situation is developing great for the SHORTS.