On the currency strength chart USD devaluation continues steady and today some strong USD reversal signals are visible on the lower time frames,
The start of a bearish weekly candle is confirming my expectations for this week and first strong support seems to be 80 pips down.
welcome to another free signal!
Important: CORE CPI announcent today! Either stay out of the market or get rif of your risk before announcement!
Check economic calendar! #Riskmanagement
Target 1: 97,09
after a doubletop at the daily timeframe we will see more weakness on USD.
So be paitient if you hold AUDUSD and NZDUSD long.
The XXXUSD pairs will show more bullish movements next week.
Have a good weekend.
Your Stefan Forex
I have revised my downside target from 82 to 83 and have indicated three possible entry points (depending on timing and appetite).
I have added a trend line on the RSI that has not diverged clearly from the price trend, while higher highs have been set the RSI is showing a series of lower lows. While a lot of people don't trust or value technical analysis, RSI...
Potential bullish Gartley setting up. Correlates with apex of previous symmetrical triangle as well as previous support. Retrace to the 1.618 could result in a bullish crab pattern. Weak but maybe unvalid bearish div starting to show.
We try to start the week by reviewing the dollar to get a direction where most major currencies will go.
As can be seen in the graph above we are still in the pattern with support and resistance and the price of the dollar is relatively close to resistance which leads us to the decision to stay with a sell signal as we were last week.
The target is 95.90
Here on the GBPUSDcurrency pair i have reason to believe a long position will be very rewarding over the coming months. Based on my technical analysis price has rallied for the bears over the past 3 years and due to recent changes in the economy as well as inflation taking a toll on the DXY, the bulls have now entered the market. My technical analysis indicates...
Short on DXY taken on Sunday stops set at previous high as we have respected the fib resistance as expected with soft NFP data. with the recent daily closure i can see DXY coming back down to the ascending trend line for a chance at a Break or Bounce scenario.