Please look at the channel between Solid RED line and Solid Green line. The blue line is a temporary support.
1.618 ext at 1.0876 is support. Break gives way to gartley with 5-0 still in play to target 1.11.
Even with the disappointing unemployment claims release today, the overall trend of unemployment claims is on a downwards trend which supports continuous jobs creation and thus the case of a rate hike by the Fed in December. The dollar rally is likely set to retest the yearly high at 12,300.
We are already in longs in this pair, from lower, and we had taken a shorter term long before, but booked profits. We added to longs a bit lower, but you can still join this uptrend now, with a wide stop for the long term. Risk a drop under 7.9250, to reach 11 or higher in the long run. We're above the monthly mode and I expect to get monthly confirmation in the...
FX:NZDUSD Using the last kiss method this trade. Price level testing Resistance at 0.72350 Stochastic RSI pasted the "80" over-bought level
SHORT DOLLAR AT 12169. MAJOR RESISTANCE LEVEL. STOP LOSS JUST ABOVE THAT LEVEL.
-Long term resistance broken, now acting as support which we are at NOW. This current support withheld even volatile markets around Brexit! -At 0.618 fib support level -Double bottom -RSI heading backup after oversold -Stochastic oversold (no signs of bull yet) -MACD showing some early signs of bulls Safe and Successful Trading!
Updated forks and an ABCD pattern: looks like somebody finally had serious problems and had to run into the US Dollar 0.79% . But the room for a run comes to an end... It´s been said that, after the Renminbi devaluation the chinese took 25 bln out of the country while normal capital movements does not exceed 4 bln. Regarding to a pattern itself, it ends at 99.11...
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...
USDCAD 4h: Let me explain a little bit about this chart. The white lines are support and resistance. The green line is a trendline and the red line is a second trend line to help me identify more clearly where the market will go. If you see the last resistance you will also see that there was a lot of volume, making the the resistance zone more valid and harder...
As we see there has been a break on Daily channel. I believe price action will go down to next major support key level 1.3134.