justatrader

justatrader

S&P500 - After breaking out from the medium term resistance near the 4170 - 4195 level has managed to highs of 4446. If the current retreat is confirmed by a break down below 4362, the retest of the 4170 - 4195 level is likely. This should make for a good retracement ahead of what could be a rally that can very well break past the recent highs of 4446.

justatrader

Its been quite a ride for cryptos these past few weeks. Thanks to Dimon's negative comments and China's actions on exchanges and ICO's. ETH has slipped to the support level of 258 - 240 making a good level to enter to the long side. The next focus will be on the upcoming fork for ETH which should help to bring some optimism back. The cup and handle pattern in ETH...

justatrader

That is the question to ask. With the hard fork due late in September, ETH could possibly move back into the range. Will be looking to buy the dip to 258 - 260(if it can make this big a correction). Need to be careful if ETH breaks the resistance that could potentially be a fakeout. Either ways, September should be interesting for ETH no matter what. A dip to 258...

justatrader Updated 

USDCHF has been in a bearish decline after breaking the 0.9900 support level. This came following the larger descending triangle pattern. The downside target was 0.9500, but price action is showing signs of a reversal. The reversal patterns comes on the descending wedge which is still evolving. So far, three contact points have been made. Expect a near term gain...

justatrader Updated 

Ethereum could see some short term gains following the bounce off the support at 229 - 224. The trend line break also suggests that near term rally will retest the resistance level at 295. A reversal off 295 will signal a move to 229 - 224 support and possibly to 206 - 198. A bullish close back above the trend line & resistance at 295 will signal further...

justatrader

Bitcoin has been consolidating in a broadening wedge pattern. The lower high that was formed after reaching to near 3000 suggests a short term decline. Break down below 2426 could see the declines extending lower to 2099 - 2100. Long positions above 2600 could see another go at 3000 highs. Below 2100, next lower support is seen at 1838 - 1800.

justatrader

Targeting 1.0520 from a reversal off 1.03800. Invalidated on a H4 close below 1.0350.

justatrader

Latest GDP figures threw a surprise with Q3 GDP showing a 0.5% contraction. With inflation staying weak, the prospects for RBA's rate cuts, as early as January cannot be ruled out. Technically, AUDUSD has formed a bearish flag pattern with resistance seen at 0.7450 region. A continuation to the downside will see a test to 0.7330, 18/11 close followed by a move to...

justatrader

EURGBP is shaping up its upside counter trend move. Price is likely to retrace the declines, with 0.8900 likely to be the end of the correction. For now, there is a 4-hour inverse head and shoulders pattern, with a min. target to 0.862, further upside could come above this level. Watch for a retest to the neckline support at 0.854 level.

justatrader

EURGBP Fundamental Outlook EURGBP could be one currency to keep an eye next year. For all the speculation that Brexit will hurt the UK, speculators could be proven wrong big time. There are a lot of worries in the Eurozone, with French/German/Dutch elections. This could potentially hurt the euro, while the UK seems to have gotten an ally from Trump. From a...

justatrader

USDCAD is currently seen falling back to 1.3200 support level, which was previously the resistance level of the ascending triangle pattern. A reversal near 1.3200 - 1.3100 will signal further upside for a minimum objective towards 1.3800 (1.3900 target of the ascending triangle).

justatrader

The daily chart for gold closed in a doji yesterday and this could signal a near term pullback in the declines. The 1-hour chart shows a potential inverted head and shoulders pattern in the making with the right shoulder yet to be formed. Expecting a reversal near 1170 - 1167.50 region. If this happens, gold could then rise back to the neckline at 1175 followed...

justatrader

XAUUSD looking to make some gains today. Buy the dip to 1184 - 1181.50, targeting 1207. Invalidated on a close below 1174

justatrader

DXY could see a pull back if the current 8hr candlestick will close with a doji or a strong bearish engulfing. Either ways, support is seen at 100.88 - 101.00 . Only a break below this level could see price correcting to 99.00 .

justatrader

Just simple plain TA. Buy on breakout above 116, for 127 with stops at 113.50.

justatrader

Previous short set up in GBPJPY failed as price continued to push higher. However, the momentum is clearly showing signs of weakening and this could signal a correction in the near term. Look for how today's price closes. A doji or a bearish close below yesterday could spark the correction. Targets of 132 and 130.

justatrader

Hourly chart for Crude Oil futures shows a correction to the recent uptrend after failing to clear above $46 resistance. Watch for short term support at $44.50. A break below this level will see declines extending towards $44.50 (rounded off). This is the short term view. In the long term, the dip to $43.50 could potentially mark a renewed uptrend as November...

justatrader

1 hour chart time frame for gold. Any upside should be likely limited to the 1250 - 1260 handle. Anticipating a hidden bearish divergence near this minor resistance which will see gold fall back to 1228. If there is a bullish divergence here with the Stochs making a higher low, it would be the right signal to go long, targeting 1270.