Clear horizontal resistance area here, that may provide a trading opportunity. Watch for a breakout or a reversal.
Note: A breakout would complete an inverse head and shoulders.
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A good level to watch for trades for short term traders, watch for a rebound or breakout.
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Looks like EURJPY is testing a key resistance here, watch out for short term bearish bounces. A breakout above that resistance more precisely the top of this resistance region at 1.3667 may also signal good long setups.
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1.4100 has been a critical level, so far the price fails to close a monthly candle below that support level.
We also have the rising trend line that started from August 2011 major bottom.
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I've been doing this analysis by hand since April 28, 2015 in a spreadsheet at Google.
4/28/2015 1:30 PM 46.70% 53.30% 18111 17960
4/29/2015 9:44 AM 40.00% 60.00% 18083 17975 PFE, MRK reported
4/29/2015 2:26 PM 46.70% 53.30% 18055 17975
4/30/2015 9:55 AM 46.70% 53.30% 17968 17970
4/30/2015 10:47 AM 43.30% 56.70% 17930 17977
Aud/Usd Remains in a downtrend but we found support @0.75600 ish level and price found balance,
we formed a minor range between 0.7560 support and 0.7914 resistance , where price broke thru resistance
but price traded back into the broken resistance, however its not over for the bulls as the up channel is still intact
and if we find buyers we may...
We are sitting on a prior consolidation level (230-235).
These are the possible outcomes:
235 holds, we break up, inverse H&S resolves, target 280-290
235 breaks resulting in a meassured move down to 180
Last time market retested such a major consolidation level from above,
OBV was in a downtrend, thus price continued the downtrend.
Rightnow we have a similar...
The next potential key resistance area to watch for the NYMEX light sweet crude over the near term.. watch for a reversal or a breakout. A good trade could be at hand soon.
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