EURUSD may see continued downward pressure to 1.110 to 1.105 near term if the US comes out with better NFP and Unemployment rate nevertheless post data release expecting a swing to 1.13. Improving OBV negative readings may continue to support near term push towards next resistance of 1.13. Expecting to make money on the swing but overall still see no clear trend...
Seeing this bearish pattern for the USDJPY. OBV shows sellers still have control of this trade in the short term chart as well as well as in Weekly Chart. A break below the 3rd bearish flag will be devastating. I feel it's going to need an unprecedented reversal to shift my view and turn me into a bull for now.
Will be on the sidelines for this until clear direction is established. Price may find strong support on the green demand zone at 101 to 100 (potential reversal point); however, RSI, CCI and OBV is showing signs that there may be more sellers based on the weekly charts. Downward price action may not yet be over. OBV shows that sellers may still out trade the...
In addition to my near term trading view, weekly chart show long term inverse H&S pattern as well. RSI upward move remains intact. CCI now at negative readings points to oversold levels while OBV/price divergence signals move upward still has room to be materialized. Strong USD may not persist given FOMC rate policy continues to remain gradual.
Long term buy...
USOil daily chart showing an inverse H&S pattern. Price is closed at neckline of $42. Breakout above $42 with meaningful conviction may bring the price to next major resistance of $45 to $46. Momentum indicators like CCI and RSI still have room to support potential upswing in prices. OBV yet to show improvement. Failure to break neckline signals continuation from...
