adriel.arrasmith

adriel.arrasmith Updated 

NZDUSD just held a major support area a few weeks back at the 0.70 level where we have channel support, a previous resistance/support area and a .786/.886 fib level of the previous leg up. We then proceeded to break/retest the current downtrend line from 0.75 to 0.70. I am long targeting 0.75 then 0.77. 0.71 is a great stop loss and our first target will yield a...

adriel.arrasmith Updated 

The USDOLLAR is currently selling off across the board and setting up for the beginning of a bearish trend. The GBPUSD is in a classic triangle pattern from early this year. Once we break price should move up to 1.28 as the first target. We will be looking to buy once the break happens.

adriel.arrasmith Updated 

USDCHF just rejected the 0.995-1.00 area for the third time, while closing as a pin bar and completing also a potential ABCDE correction. Also, we're rejecting the trend line that started from late 2015. The USDOLLAR index also is closing as daily pin bar rejecting a key level/key fib area. This trade offers a risk/reward of about 9:1 if we hit 0.95. That's the...

adriel.arrasmith

I am switching my USDOLLAR bias from bearish to bullish for now. As we know November is a seasonably bullish USDOLLAR month especially against the Euro. The USDOLLAR Index has support right now and we're seeing gold sell off from the major $1300 area, which agrees with this. Clinton is currently leading the polls and odds are showing a pretty surefire win, which...

adriel.arrasmith

We have been expecting weakness across the board in the USDOLLAR and now the USDJPY among many other pairs have gapped. This a great spot to add to a usdollar short by setting a stop loss above 104.5. I am targeting the 101 area where we have the trendline.

adriel.arrasmith

Copper has been in a consolidating triangle pattern, since late last year and we now just broke out, which targets upwards to 2.50 then 2.90. With the USDOLLAR at a major area selling off then boosting metals this makes sense. A long with a stop below 2.18 is sufficient. Let's see if we get a big move soon.

adriel.arrasmith

Just based on the chart. Targets 1.66.

adriel.arrasmith

SIlver just broke thru a major support confluence of the 200 ema, the flag pattern, 2016 trendline, and a prior resistance/support area. Recently, we formed a bearish engulfing pattern rejecting this level at 17.800. This is a great time to sell with a stop loss above 17.800 targeting 16.00-16.2 for the 1st target and I would expect prices from there to rebound...

adriel.arrasmith

The USDCAD is forming an ascending triangle that is slowing breaking out of the 132.5 area. Currently, oil just hit a major resistance area of $50 meanwhile based on the crude COT report warns of further losses. Also, the retail crowd is heavy short the USDCAD, which points to gains. I just got long again yesterdays pin bar targeting the 1.36 area. This should...

adriel.arrasmith

Orange Juice has put in a weekly pin bar at the major level of $200. Also, on the daily chart we put in a evening star, which spells trouble for the future prices. We also are in an ascending wedge that if broken in the near term future targets $160. This wedge also has weekly divergence, which confirms this move. The next support level would be $100. Finally,...

adriel.arrasmith

From a technical perspective the USDJPY put in a bearish engulfing pattern on 7/21, which coincided with the channel trend line and major resistance area of 105.5-106.5. Now today we put in a 4 hour bearish pin bar retesting that same area. The retail crowd has also been adding to their longs recently, which now sits 59% long. Just more evidence that we're...

adriel.arrasmith

I'm not an expert at all on Elliott Wave, but I do see a potential here for a flat correction coincidentally with a pin bar. Also, AUDUSD is a critical support area and USDCAD at critical resistance pointing that the overall trend may resume here. My overall target has is still in the high 2.00s. If this does take off we shouldn't see any resistance till the 2.40 area.

adriel.arrasmith Updated 

CMG has sold quite significantly based on technicals and all of the past news of Ecoli outbreaks. The damage has been done and we have now based. We have held a major trendline, key area of $400, with a weekly MACD crossover, and then finally we have completed a C wave at the .886 fib level hinting to a future gartley or bat pattern more than likely. Buying now at...

adriel.arrasmith

I went totally wrong on AUDJPY yesterday after reanalyzing everything and should be stopped out very soon. As far as the USDJPY goes. There is a lot of YEN selling pressure right now that's taking out some key areas opening the door for a huge decline. Also, the USDOLLAR is picking up some strength ahead of the FOMC as you can see pin bar that formed a few days....

adriel.arrasmith

Technically, we're at a major trendline, 200 ema, and key resistance area. We are also retesting a small broken counter trendline. Stocks are also starting to turn, which at the same time the YEN is starting to gain some strength from a fundamental and technical perspective. At the time I think we could see some what of a sell off in OIL, COPPER, etc, which will...

adriel.arrasmith

The USDOLLAR has officially broken down, but currently in a consolidating period. XAUUSD broke out of a long term wedge and is now consolidating. The retail crowd is short pointing to further gains. From a technical perspective the wedge target would come around $1430, where there is a major resistance area, the 50% fib from the 10/12 high to the 12/15 low and...

adriel.arrasmith

This is a very predictable and classic pin bar pattern. We'e clearly rejecting the 0.76 level, which is also an EMA layer of support as well. Also, with the retail crowd being heavy short this is a great chance to buy. I'm looking to buy at market asap or maybe 0.765 if I'm lucky and targeting 0.803 (1.618 fib ext) into the 0.816 area.

adriel.arrasmith Updated 

CAD is at some major resistance currently and expecting the YEN to follow Gold soon. We just completed a bearish bat and a false break of the trendline. I am short at 85.4. Expecting to see a lot of weakness. The target is open.