Expecting continuation of a USDJPY Short to meet the weekly trend-line before heading up, it is the natural progression of this market structure. But ultimately it is in a demand zone and could also move up, Break Even at the 38.2 / Counter Trend.
If it can break here its an easy route to the next Fib Confluence but we should really be looking back to the top if it isn't dumped on the release of Callisto...
Controversial approach to the USD Outlook for the Year. Obviously affecting how we approach Makor pairs.
Price has posted a Lower High and retraced back to a prime selling position, up-move is limited thanks to a Weekly Fib Level & the downtrend line.
XVG posted a huge Bullish pendant which has now been broken with the creation of a beautiful flag. Potential for a %200 up-move.
Will be interesting to see if it breaks the 61 & 38 confluence to confirm MA Death Cross, potentially a good buy from the bottom of the cloud.
Obvious Flag is exhausted looking for an imminent drop off the 50% or 61.8% Supply Zones / Fib Confluence
Multiple areas of support here, expecting a rise to the summit.
Expecting continued downwards momentum now the Weekly Trend has been broken. Wait for the pullback.
We see a Weekly Trend-line has been broken and is awaiting a re-test. Im looking at Bearish Divergence in the current Supply Zone and Range High looking for the drop to the Power-point, Trendline Cross Section with Demand and Fib Confluence.
Fairly obvious Short against the Trend-line at the 61.8, we bought it on the way lets get it on the way down.
Do not buy now - Unless price breaks $1000 fully. Until then it is Alt Buying Time as a retracement to the 38.2% / 23.6% confluence is likely
Assume to be a Large Bearish Flag until it breaks the 61.8. Posting a Bullish Pennant on the 30 min chart currently but there is a powerpoint on $15000 with multiple support tools so if it drops look for the reversal into a further up move. As it is now it is Alt-Buying time. The 61.8 is our area of supply to worry about, although the Bullish penant being created...
NFP could push DXY into Oblivion tomorrow if it wanted.
EA completes H&S Formation - & Breaks MA's if you are not in this yet wait for the break of the Trendline and look for a retest of the Daily / 61.8 this is potentially a major trend reversal for a long-term trade.
No Trade Now - Bearish Outlook above Demand Zone. Wait for break of Line or a fall below the 38.2 Bearish below 50/100/200 EMA & Trendline after completing a 61.8 retracement but now approaching strong Support at the 38.2% of the entire history (For the 4th Time) Potentially Bullish off the support area with help from the Bollinger Band Outer but be warned price...
Looking at simple reactions on support confluence of the Trendline & the BB (50) Median to push out of this short but large flag.
- Demand Zone - Fib Confluence - Channel Bottom Looking to buy this once more until it reaches the 61.8 of the Daily move, before a big drop.