The primary trend of the USD/CAD has shifted at the begining of this year and switched its direction downwards. However, the last couple of months can be defined as a sideway movement, as the pair has entered a correction phase. Coming off the high of the Matrix and closing below the important supoort and test level of 1.3016 sets the trigger for this Sell Signal.
The negative sentiment over the europian continent is escelating. I predict further downside pressure, which should drive the EUR/USD all the way to the major support of the Matrix at 1.0757 - My price target.
AUD/CHF is pushing forward just as expected. Soon the pair is going to meet the important resistance of the Matrix at 0.7459. My estimation is that the positive sentiment on the AUD dollar will only escelate and keep driving the AUD/CHF towards its previouse high at 0.7600 - My price target.
The EUR/AUD has just hit my first price target at 1.4640 - Matrix level. Nevertheless, the weekly close below that level indicates for strong negative momentum hence, the continuation of the downside movement. My second and most important price target is still more than 200 pips to go, at the Matrix strong support level of 1.4300. Stay tuned...
The AUD/CHF is starting to pick up its pace going forward after a reversal phase. The current upside move is expected to continue all the way towards the previose peak around the levels of 0.7600 - My price target for this Buy Trade.
1. Stopping volume: The previous bar is a down bar closing at the lows of the bar with high volume, what this means? possible selling, but, look how the next bar respons, high spread bar, closing at or near the highs with greater volume, so, if the previous bar was a weak bar, why the market didnt go down? The next bar is a up bar with not excesive volume, so, it...
The GBP/AUD is moving in a perfect Elliott Wave formation, while recently had just ended the corrective wave number 4. According to the Elliott method, progressive wave number 5 should develop at this point with the potential upside movement towards the previous high, represented by the top of progressive wave number 3. The fact that corrective wave number 4...
The EUR/USD has just recently bombed against the major resistance of the Matrix at 1.1406 and quickly bounced off that level. My estimation is that this level may be the highest spot for the EUR/USD for the near future. Negative sentiment in regards to the continent of Europe is building up again. My price target is placed at the major support of 1.0754,...
A nice descending triangle with 7 touch points. My backtesting has shown me that often the oscillations get closer as the triangle gets closer to its apex, and we see here that this behaviour is very strong.
The key here will be the open of next weeks trading, where we will see whether it will break above the descending line and ruin the triangle or if the market...
Falling wedge with 6 hits (currently).
Looking for a 7th hit and will be watching closely for a breakout on the 8th. The length of this wedge suggest to me that there could be a strong breakout.
Getting prepared for a hopeful bullish cypher pattern to form here. 3 points of resistance against the line leading to our entry point, so hopefully we see a continuation of this short-term trend to form the cypher.
Unfortunately not the best risk/reward.
I'll be looking also to see if the RSI is in an oversold (or nearly oversold) position if the price reaches...
