dmelchiades

dmelchiades

This tutorial looks at the Daily chart main technology index in the World, NASDAQ. When evaluating its prices, NASDAQ has been down-trending in the past 8 months, in a steep decline. It started from its All-Time-High (ATH), when it held the 16700s level on the 21st of November 2021, sinking over 34% towards the 11300 level on the 16th of June 2022. However,...

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The USDJPY pair is reaching a very important level, at 50% of Fibonacci @ the 110.00 area. This level is important not just because of the Fibonacci level but also because there is a downtrend since the beginning of November last year, which exerts its function as a support around the 109.90 - 110.00. Therefore it is important because it could generate 2...

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Since July 2014 that GBP is bearish against the USD. It fell from 1.6800s to the 1.1800s in October. The Uptrend from October was broken today (15/12) and it could lead to a fall towards the next short-term support area, over the 1.2100s. Short Position 1.2550 Stop Loss - 1.2630 Profit 1.2350 to 1.2100

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Since the 3rd of May 2016, the USDCAD is holding an uptrend line tested 3 times. Looking at the bigger picture, this trend is a pullback that had its high on 14th November 2016, when it found resistance at the 1.3312 area, where there is a 50% Fibonacci from the near 5 months free-fall that started in January 2016 when the USDCAD was 1.4689, hitting 1.2460 in...

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USPJPY reached to a 2 year resistance area, around the 61% Fibonacci from the 388-days downtrend from June 2015. Although the rally USD demonstrated against JPY - 98.78 to 116.12 in just under 6 months -, seems promising, there might be an opportunity of going short for the short-term due to a retracement that could lead to the 112.00 10 months support area and...

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The EURUSD pair on the Daily chart is in a key support area, around 1.0510 level which has been tested in March 2013 and December 2015. The pair has been trading within a range from 1.0500 to 1.1600 since March 2013. From this Key Support Area, a bullish trend can confirm the continuation of the sideways trade. On the other hand, a Bearish trend would break...