RESISTANCES BlueSky BreakOut @ 146.82 Tenkan-sen Resistance @ 143.11 SUPPORTS Kijun-Sen Support @ 140.41 Nice Bounce off Fib .382% @ 139.76 ^^^If supports cant hold Use Lead Span 1 & Lead Span 2 AKA cloud as support area
Just days before Germany's much anticipated third quarter gross domestic product (GDP) data is released, business leaders and policy makers warn that euro zone's largest economy has lost its competitiveness and is on the brink of recession. German Stock Index DAX is grinding high for the last 3-4 weeks after a sharp down move. It is building nice consolidation...
We've arrived at heavy demand area. Pair should reman consolidated until we encounter a solid reason to break through this level or bounce up. Seems like situation will be simillar to the one when we were at this price level previuosly /yellow square @ Feb 2014/, yet the outcome might be opposite. I'd suggest playing it safe&technical now = from support to...
- Euro area pick up has stalled on the second quarter of this year as three of its biggest economies failed to grow. Consumer prices still fail to grow to meet the ECB's target rate, Ukraine is still at risk of increasing political unrest due to the Crimea crisis. Economic sanctions imposed by European countries on Russia and blocked trade agreements between...
Goodrich Petroleum close to bottom resistance of the upward channel. I propose long entry at about 14.85. First stop is quite aggressive at 12.50 (small position) and 2nd stop less so at 11.54 (bulk of trade). History shows that ETA to 2nd profit target is about 100days from entry date.
GBP/USD felt to really important level if there's an chance that it will conitnue the uptrend that we might be just getting to the entry point at the moment. There's an confluence of green marked Demand zone, 50% Fibo retracement of last swing up (1,669-1,719), daily trend line and the previous smaller leg up low at 1,685 level (red circle). Todays down move was...
1D Chart: My first prediction of GDP news is that it will hit down to 1.669 and back up to 1.680. If we do see the market hit 1.680 we could definitely expect a bounce down in the market. It should not go lower than 1.5306 - 1.5261. After this move down it should go up to 1.5377 - 1.5404 area - near this time though we will be nearing mid-next week.
Norway's GDP readings have come in better than expected. Y/Y @ 3.9% and Q/Q @ 0.3% up from 1.1% and -0.2% respectively and both beating estimates. On H4 charts, the retracement to 5.96074 looks like a prime target to short from targeting 5.83130 (for now). Alternatively, wait for the resistance to be confirmed at 5.96 and sell at the most recent lows in the run up.
A break above resistance at $28 may mark a reversal in trend, though we have a minor resistance level at about $26.50 to pass through first. Be patient and wait for a bear signal on volume.