Week 49 ended with no significant price movement during NFP, I did not enter long, however, my view was NFP is going to bring USDJPY and USDCHF upwards.
From my analysis, it seems that USDCHF has broken down to level 2 from its level 1 zone, which reached a high back to level 3, M reversal zone. That did paralysed my outlook for a while because it made me...
Fibonacci numbers on the way up were spot on. Use them on the way down for small gains.
This bump started when the Euro bulls got over excited at testing the November Dip. So I expect a retest of previous bottom at $5400, with another big bounce from the Dollar Bulls.
Watch for further indication from the RSI Daily dipping below 30%.
Caveat : I am not a...
After the US jobless claim news was negative (forecast=231 vs 239K) the EURUSD quote made a rebound at the .618 fibonacci retracement to keep going in a sideways trend between 1.16643-1.1694 (resistance zone) and 1.15739-1.15660 (support zone). As this week haven't seen too much volatility at the FX market my recommendation is to wait until the quote touch the...
I miss this trade this week
I see it break trendline and break High.
I think it will go up around 61.8 of previous week leg, so will try to buy on 1H (stop in 1H at red candle LOW)
i think it will retrace some days.
EUR/HKD 1H Chart: Descending Triangle
The common European currency is trading against the Hong Kong Dollar in a descending triangle pattern . An existence of the figure became evident shortly after the currency pair failed to slip below the 9.1466 level multiple times.
In the early Monday morning the currency rate made a second rebound from the triangle’s...
GBP/CAD 1H Chart: Pennant
The British Pound is trading against the Canadian Dollar in a pattern similar to pennant that started to form after a six-hour depreciation of the Sterling by 0.69%.
Traditionally, pennants themselves are made of symmetrical triangles, but this time it made of an ascending triangle.
From the triangle’ point of view, the...
EUR/SGD 1H Chart: Pennant
The common European currency is advancing against the Singapore Dollar in a little pennant pattern that formed in the result of announcement of information on the US CPI last Friday.
Since the pair is moving in a continuation pattern, then breakout is expected to occur in the northern direction.
The length of the subsequent...
GBP/CAD 1H Chart: Channel Up
The British Pound is trading against the Canadian Dollar in a short-term ascending channel that formed in the result of a 78-pips appreciation of the Loonie three days ago.
At the moment, it consists of two reaction highs and two reaction lows and, thus, might cease to exist already in the first half of the next week.
AUD/SGD 1H Chart: Channel Down
The Australian Dollar is trading against the Singapore Dollar in a short-term descending channel, which consists of four reaction highs and three reaction lows and, thus, might be broken already by the end of the week.
Historically, the currency rate made multiple attempts to break to the top.
However, each time these...
Strong Bearish Trend!!
1: Testing the 100 EMA resistence
2: Stoch overbought
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