Now it's just a debate: if the current up fork is going to hold or fail, as price has crossed it from its upper parallel to the lower one with ease. This market is in a very-long-term down trend, found resistance above 94 and then even below that level. Now it is about to say, whether it's going to stay within the fork or not. It can either turn into an overshoot...
SCENARIO #1: The price has nicely reacted to 1.3851-1.3864 zone, which is just around the 61.8 Fibonacci level of the previous downswing. These two levels define a zone for shorts, so look for any kind of weakness there to enter short. SCENARIO #2: If the current lower range boundary is breached and the price closes strongly below 1.3789, it would be time for...
The EURUSD seems to be forming a strong bearish divergence with both the MACD and the RSI. I believe this divergence will reverse after it reaches the 1.3965 - 1.4000 price range. Technicals are signaling further continuation to the upside after the bounce off the 38% retracement as well as a bounce off a new support lvl (1.3820 - 1.3780) which was previously was...
Quarterly CPI came out soft and Aussie declined across the board + China Flash PMI despite an increase from 48 to 48.3 was still seen as weak. In line with this chart, next support is likely to come in around 0.912 - 0.92 levels. 6 days for NFP data before the next big move. Also on the same day (02/05) Aussie PPI will be released as well. Note that on 01/05 we...
There are two basic levels for short trade considerations. We have lots of news today, so let us see, what the market offers today. For further information about my trading style, live trading videos and analyses, subscribe to my YouTube Channel: bit.ly Petr YouTube Channel: bit.ly TWITTER: @FlexibleTrader E-MAIL: psuchanek@smbcap.com Blog: bit.ly
Long on close above trendline and 0.764 Fib. The pennant break to the upside is also a good sign that there is more upside to come. I expect the upside move to be equal to the pole of the pennant represented by the red arrow. Enter Long once the 1h closes above 0.764 and set TP to +140 pips of original Entry. TP 1 as usual is 55% of total TP
Chart setups: 1- Bearish acceleration after putting in a reversal candlestick-shooting start- drawn on April 10. 2- Slant negative divergence formed on MACD. 3- Breakout below SMA20. 4- Strong bearish reversal affirmed by Vortex. 5- Parabolic SAR signals a new trend coverage. Trading Strategy: Place a sell stop at 0.8535 with targets at 0.8320 -61.8% Fibonacci- of...
At the moment the long term technicals is showing that there is a bullish divergence in this pair. While price is posting lower lows, we are seeing stochastics posting higher lows. In my opinion, once prize closes above the 15ema, there is a probability that the pair might head higher, possibly in the 0.966 region.
I like these kind of setups very much: clear downtrend, confluence of support, key moving average level, at a Fibonacci retracement level, with confirming candlesticks. I'm not in this trade because I'm at max risk capacity already, but I'd be short at 8840, stop at 8872, target profit at 8697. This would setup a reward/risk ratio of over 4:1. www.informedtrades.com
USDJPY is in an uptrend channel. Several inside bars. Price action is pointing downwards. But only as a retracement. Main trend is upwards.
Looking at the weekly USD/CAD chart. There's a case to be made for a continued move to the upside. One cannot ignore the base formation that took 5 years. We are witnessing price moving at a higher angle. I'd like to see price hit the first relevant blue line (middle arrow) with price not piercing the lower line (lowest arrow) - should price correct / consolidate....
EU has been a relatively rubbish trade over the past year if you were looking for some trends. This sideways action has to break sooner or later. I prefer a play to the upside in line with the higher highs, higher lows and the trend line indicated.
Based on my previous analysis in Eur, I am short here. Let us see... Petr YouTube Channel: bit.ly TWITTER: @FlexibleTrader E-MAIL: psuchanek@smbcap.com Blog: bit.ly
Many erroneously believe that market targets cannot be known until a stock has been trading for a specified period of time. As our clients are well aware, we identify the relevant targets very early in the trading cycle, sometimes even before the first 15 min of trading on the date of the IPO. How is this possible? Contrary to what many are taught , the ...
So after a bullish unemployment data, the Aussie hit a high resistance level and is dropping lower. There are some important observations to bear in mind. 1. This could be a possible Cup & Handle formation we could be looking at. (Represented by the blue channel lines sloping down). Its still early, but this pattern is worth keeping an eye on. 2. Price quickly...
Today was a good opportunity for Buyers to re-take the Monthly Trend Line. However, everything dried up and Sellers are now seemingly able to either stop the Buyers i their tracks or hold the market before the next news event.
There will be some important announcements coming affecting the CAD/USD. It would be hard to make a prediction at this point but a buy stop or sell stop on either side could be a good idea. Time (April 16th) Country Event Importance 2 am (9 pm ET time) China GDP q/y High 2 am China Industrial Production y/y High 2 am China Fixed Asset Investment...
Friends, Last January 25th, 2014, I defined a bearish target as TG-1 = 18.815 - 25 JAN 2014, and offered the following note: ------------------------- #XAGUSD: Predictive Analysis / NEW Target | #XAG #XAU #Silver #Gold - For the record, chart annotated as: "xagusd - 2014-01-25 - h4- new TG-1 = 18.815 - 25 JAN 2014 - 4xquad forecasting" TECH-NOTE: #Silver...