THE TECHNICAL SITUATION: BREAKOUT ON Index still in bullish breakout mode, technically positive on most time frames. There is a general view -which I share- that a consolidation is long overdue. "Time consolidation" for now: Index flat while it works away its overbought condition. Valuation currently 50% > historical average... MANY POSITIVE INDICATIONS Still...
This is a zoom of the handle forming, after the 1/3 retracement for the (A) corrective wave ended, and now ahead of schedule this is the uptrend (according to my point of view) to form B (impulsive wave) and their possible targets in fib levels. I attach below the central chart
Good morning traders. USDJPY is finding some support in the 114~ area ahead of the strong support figure at 112.88. Expect to see selling pressure subside as buyers protect the 112.88 figure. Only a break below 112.88 will expose further downside. We can expect to see consolidation/upside off the support figure. 116.05 marks first key resistance to keep...
I don't usually trade equities, but a fellow trader told me to take a look at the Goldman Sachs chart... Price is currently consolidating near the 10 year high of $250.70, after a huge bullish run in the second half of 2016. For me, what I'd be looking for now is a break & retest of this $10 channel, with targets around $218.00 and $200.00 (good psychological...
hope you make good pips last week USDJPY need some consolidation, before next short decision tomorrow will have more clear picture
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening traders! Down move was quickly bought up off the 115.00 lows changing the bias from to the downside to neutral. First key resistance lies at 117.75. Only a break above the figure will expose further upside. A failure...
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening traders! Bias on this pair has shifted from upside to neutral after rejection at the 1.062 high. Short-term resistance now at 1.0575, only a lift above will put sights back up to 1.062 high and a break of the latter will...
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Bias as become neutral on this pair after sharp rejection off the .7357 resistance figure. Only a break above the figure will put pressure back to the upside. Buying opportunities are still preferred above .728 which marks the first...
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening traders! Holding the 1.22 support figure brought in significant buying pressure on this pair. Price took out the 1.2307 resistance marked in yesterday's short-term technical outlook and has since held as support. Spike...
On the one hour time frame we have a breakout of the corrective structure / consolidation period to the downside, however now we're touching a key support of 1.33600. I will look to see what PA does around this area to see if i can get an entry. If we bounce i won't take the trade long. However if we break below support, i will be looking for a retest before going...
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening traders! Price remaining below the spike high and key resistance at 123.86 saw the formation of a lower high and a swift move to the downside, however the 122.2 short-term support remains intact. A break below such...
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening traders! Spike through the 118.24 resistance figure mentioned in yesterday's was quickly met with selling just a few pips ahead of the 118.66 strong resistance figure. Short-term support at 117.2 keeps buyers in control...
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening traders! The attempt at the .6972 resistance level was quickly matched with selling pushing prices close to key support at .6862. With AUDUSD firmer in its' respective range the same may follow through on this pair given...
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening Traders! The .6972 resistance figure held almost to the pip at the end of the 2016 year printing a high at .6979. That high now marks key resistance to keep buyers in check and sellers in control. Below the figure selling...
These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening traders! Having held the .716 low toward the end of 2016, consolidation is to be expected on this pair until we manage to break to the downside. The .7246 resistance level will put pressure on the downside and as long as...