The EURJPY has been in this trading zone between the 122's and 124's for quite some time now. The question here is whether it'll break the resistance levels to go higher into the 124's or it'll break below the support levels as shown on the picture. As long as we keep in this zone advanced patterns will keep showing up just like this bullish bat setup.
The Red rectangle line : Supply
The green rectangle line: Demand
Arrows: Trend expected
Price will hit either level then a reversal would follow.Look out for confirmation such as chart and candlestick patterns before entering the trade. Enjoy the ride.(45-50pips)
Despite my overall bearish outlook on stocks, Gilead Sciences stands out as the 'Little Engine that Could' in the sense that it keeps chugging along despite being battered by the broader index just after earnings came out late January. On the fundamental side, most analysts think it's way underweight citing that it should be worth as much as 66% more as per the...
Data from the U.S. has improved by the barest of margins. The New York Fed Consumer Survey finds inflation expectations rising (by less than 1%) above expectations, and the ECB rate cut means lots of free cash to play with. Keep in mind we have the FOMC meeting coming up and their decisions will determine the direction of the markets for the near term. ...
• British Pound traded higher against the US dollar, and moved above the 1.4200 levels.
• There was a bearish trend line formed on the hourly chart of the GBP/USD pair. Which was broken by bulls.
Wait for re test on trend line then BUY!
As of March 3rd, Gilead earned a 'buy' rating from Citigroup as verified by the link. It is true that GILD should have performed better after earnings as has been historically demonstrated, but it took a beating with the overall index but failed to share in the rebound. Personally, I think this is a good thing, for you'll note from my previous post here previous...
There's been a massive short covering rally of near historic proportions in oil recently. As the OPEC circus continues to 'cry wolf' regarding freezing production, the market, once overwhelmingly short on the commodity, takes the opportunity to cash out some of its short positions.
There is really no fundamental reason for oil to rally so hard as the attached...
With the tsunami of data this week, it was really hard to sieve out anything stellar. At best, we had employment data that was above expectation on Wednesday, as well as a moderately improved ISM manufacturing index. PMI and Factory Orders left much to be desired. Central Bankers all over the world are scratching their heads and trying in futility to save face...
Were in a bullish trend here :)
-This daily trendline has held for our last EA Long so I think it will hold again
-FIB on here from most recent A to B wave watching the 0.618 as usual
-There is some AUD news coming out later this evening to bare in mind if we get it.
-So I'm looking for a good amount of rejection...some long wicks and reversal to...
Yesterday, Janet Yellen of the Federal Reserve spoke confirming expectations that the Fed would sit tight on interest rates. She even admitted today that the Fed is considering negative interest rates. Her ominous tone did not bode well for the markets as evinced by the abysmal market opening today here in the US. In fact, the world's markets are rearing from...
POTENTIAL TRADE OPPORTUNITIES
TRADE: POTENTIAL TRADE OPPORTUNITIES
Every day I come into the markets and do my analysis
accordingly. The best part about this, is if nothing comes
to fruition, then we simply start our analysis again until the
market comes to us, giving a valid Trade opportunity.
NOTE: These are potential trade...
1. Trend continuation
2. MA Above price
3. Test of trendline resistance
4. Support support turns resistance
5. 38.20% Fib Level expected to hold at that resistance point SL Just above
6. Looking for the market to make a LH From the previous LL
7. H_S Pattern formed showing we have the momentum to the downside to create new (LOWS)
Any hopes for a recovery this week were quashed by today's open and marked declines henceforth. There really doesn't seem to be any indication of a turnaround, unless some good data comes out this week, and there is quite a bit to anticipate. As the attached article notes, analysts are cutting their expectations for the S&P, and it would be good advice to any...
GBPUSD has pushed through Significant resistance. The moving averages have know crossed and price is above for the first time in a while. Looking to add here on a pullback at the 1.4550 levels.
Target 1 : 1.4800
Target 2 : 1.50