So, we bounced before and on the 4th as expected. But now we're up against that $2600 ceiling again and can't seem to close above it. As we continue to struggle with these upper levels, it is becoming increasingly clear that the market is not willing to do much more here before BIP 148 on August first. I've said all along that I'll remain bullish as long as we...
This could be a perfect example of a inverted cup and handle. This because it has been hovering under the first resistance line and is making an arched. Probably will drop till the first support and worst case will drop to second support line. So if you like swing trading, this is it! Short than long.
Possible right shoulder formation if resistance is strong enough to push the pair down.
BUY AUDUSD, USE A STOP LOSS .76000
I was thinking ; Europe next year ? nice vacation perhaps ?! Clearly downhill is not gonna be easy ride and Definitely Europeans have to raise their spirit to handle the gravity of it. I mean... Never mind. Just Look at it!
If counting is correct I guess there a little decline here. Short when price escape down from rising flag.
I expect a C wave down to complete the Zig Zag. Wave (A) five waves down, wave (B) three waves up and waiting for the next (C) five wave down.
With the dust of Brexit still settling there is much uncertainty as to the direction of the world economy, we saw a significant drop in the GBP. As the U.K stabilizes itself with the injection of £250 Billion from the Bank of England (www.independent.co.uk) coupled with the threat of other EU member states considering there own exits (France & Holland) this will...
Earnings beat est and production guidance is very ambitious. After market pop up as high as 235, waiting for tomorrow's open and pre-market action. Waiting for breakthrough or re-test @243 (1st Resistance/Support). Searching for formation, OBV and DMI signaling bearish tendency, but RSI indicates short run upside. TSLA could consolidate in a downward or upward...
EURUSD DAILY CHART ANALYSIS - TECHNICAL SIGNAL www.cambodiaforex.com
EURUSD 4 HOURS CHART ANALYSIS - TECHNICAL SIGNAL www.cambodiaforex.com
GOLD XAUUSD DAILY CHART ANALYSIS - TECHNICAL SIGNAL www.cambodiaforex.com
CAD is continuing it's strong upward rally, helped by the recent dive in oil prices. Short positions are not an option at this point. I will continue to buy into dips.
This count might not be the preferable count for many traders. It is ugly, hard to see for the inexperienced eye but, its probability is increasing. A lot of traders are expecting the British Pound to head south including us but the chart has been giving us lots of 12 12 12 waves to the downside with no impulsive wave 3 of 3 of 3 which is worrying. That's why I...
EUR could be at the top of a Larger Wave 3. If this is the case we could start to look for a correction. This will also be useful to know to help predict any trend changes is the EUR cross pairs.