To see the clear picture, one has to look at the historical charts of GBPUSD. But the next weeks GBP will be only falling, of course with some pullbacks.
Gann square projection for JXY. As you see, Japanese yen (JXY), just as DXY repeats the patterns from the past, each time doing a bigger impulsive wave. Its clear enough that we can kepp going short on XXXJPY pairs as JPY is going only to strengthen. There will be small pullbacks when you can go long on XXXJPY instruments but shorting XXXJPY pairs is much safer...
There are head and shoulders on weekly timeframe. So the bearish movement is going to be significant on daily. What we might be seeing now is a small pullback to Kumo cloud before price will continue to drop.
While looking at the historical dollar charts, I observed that DXY very closely follows the patterns it worked out in the past while moving in the downtrend channel. And if we apply Gann square, we see that the next move should be a steep run to the top of channel, from where it will bounce down into the minor channel. The ultimate destination is the bottom of the...
We have all elements in play - price below the kumo cloud, chikou span in the free and below the price (bearish signs). Bearish tenkan kijun cross. Future bearish cloud. Target - monthly trendline.
There should come an explosive movement after Bollinger squeeze. Know sure thing (KST) and ADX point to a bullish move. The same with Hurst channel. Heiken Ashi changed for bullish candles as well. I would go on daily long to previous highs.
While trading, it is worth knowing that Japanese Yen closely follows Gold, both intraday and on bigger timeframes. Both instruments mirror each other. So, XAUUSD analysis are valid for USDJPY, only in reverse order, i.e. if XAUUSD will move up a few ticks USDJPY will move down the same distance. Safe trading! The chart above demonstrates this correlation. I chose...
This summer and fall will be tough time for retailers and fuel consumers as crude oil prices are expected to rise in the summer season as well. But it seems that 92-93 will be the ultimate historical top price for the years to come as after that point oil prices will be declining next couple of years. It looks like 2021 (latest 2022) will be the time when crude...
Looking at the historical charts of British pound (since 1953) I noticed that it formed quite a fine complex head and shoulders with double top and multiple shoulders. This pattern is described in detail by Thomas Bulkowski in the Encyclopedia of Chart Patterns. The performance of this pattern in bear market is 8 out of 21. The breakout from neckline occurred in...
Swiss frank, one of the strongest currencies of 8 majors, if not the strongest (as it has been in bullish uptrend since 1960) has gone through a period of consolidation (with bullish inclination) during recent years. Now after it reached the bottom of its consolidation channel, frank is going to go bullish next weeks. And after it has been cornered in a triangle I...
Canadian dollar is one of a few major currencies which is strong (thanks to crude that has been pushing it up). It broke from its bearish channel in 2004 and turned bullish. It restested twice the old resistance which now became a support. And now we are about to start a long drive up which will last for months. Just for a few days CAD will be going down before...
NZD index (ZXY) is bullish long term trend since 1994. What we are seeing now is a small retracement which can last a few weeks more before NZD will shoot tothe skies....
DXY has been in a long term bearish downtrend since 1974 and the bearish tendency will continue to dominate next weeks....
After looking at euro / dollar charts since 1972, I realized that the most recent euro high was a pullback (backtesting) to yearly trendline which it broke in the end of 2014. The old yearly trendline became a resistance now. This thing is called the change of polarity. And now we are just starting to drop back from it down again. Expect a further bearish euro...
Japanese yen (JXY) broke from a big bearish channel and started heading to the skies. Now it pulled back to 200 EMA and horizontal support level (that was once a resistance). I expect a bounce off that level. It might test it a few more times penetrating it but the eventual route is up. The worst scenerio: it can drop down to the triangle trendline (in which it...
Its safe to short AUDCAD as it broke out both through monthly (at 0.96662 after a monthly shooting star) and weekly trendlines...Short when it makes pullbacks. On the top of that aud is now weakest while cad among the strongest assets nearly on all higher timeframes.
Once crude hits the expected target, forming a bullish flag on daily, further move upwards is expected as seasonal tendencies confirm bullish uptrend in the first half of May (from NY close on May 6 until NY close on May 11th).
British Pound has been in a free fall since 2008. A year a ago (January 2017) it started doing a retrace and pulled back to the fib level. It didnt manage to establish itself above the fib level forming a double top. Now it started falling again. Expect a significant drop (the size of double top formation - from neck to top) when it breaks through a yearly...