it hit support zone and now we are looking for buy setups, you will wait for it to go up for a conforming a uptrend market. as you can see it broke the trend line and now it is retesting it and also hitting the fibonacci level of 38%
i like to see it hit the 50% and then buy! risk reward on thid trade is 2.40
Global Dow GDOW
Same thing here.
Testing resistance, in fact it's now sitting just a couple of points above the next line at 2930.
It's going to push back up to 3000-3003 sooner or later, just over 2% on this chart.
Look to buy SPX or any major market either on any retest of the rising dynamic if we get to see it- or on further strength above 2935 on this chart...
If we keep getting lower highs and neutral lows , It is likely/plausible that we might develop a bullish bias
as long as we hold the 6k support line , its looking good gents
if the 6k support line is broken we should continue a bearish bias/trend for a few more months more unfortunately
DXY Dollar Index: Consolidating recent gains
The dollar is consolidating recent gains after reaching a high at 94.06, some 14 points shy of the medium target here. My
bad and not a fault in the chart, as there is old resistance at the 94.03 level from the end of last year, as the chart clearly
shows. Sorry for that.
Anyway DXY (and USD pairs) look like they...
21st May EURUSD Week Ahead
EUR has reached the medium term downside target at 1.1721
today after a low at 1.1718.
Although it's rallied away from here as London opened as it
should do, it's not likely to get very far, though.
The first resistance potential is here at 1.1763, then a minor
level at 1.1786 and then heavy at 1.1821-1.1836.
It will need...
S&P 500 Index: SPX
Same problem as as the Dow - risen to fill the gap and now
retesting near term lows at 27330 - The first real support lies
at 27130 and it looks likely it will be tested soon. Failure to
hold here will signal further near term weakness back to
26687 and potentially, if this level fails, back to 26007
Gold and the Dollar XAUUSD and DXY
The dollar's decline is close to finishing. Likely to be one two spots outlined below - so this is likely also to be a big week
for gold, oil, and across US pairs too. Look for buy set-ups on dollar pairs and sell set-ups on gold, silver, copper and oil...
As DXY tries to climb and hold above a little dynamic that underpins...
Gold Dollar XAUUSD and DXY
The dollar's decline is close to finishing. Likely to be one two
spots outlined below - so this is likely also to be a big week
for gold, oil, and across US pairs too. Look for buy set-ups on
dollar pairs and sell set-ups on gold, silver, copper and oil...
As DXY tries to climb and hold above a little dynamic that
DXY Dollar Index
We've been aggressively bearish of the Dollar since that first
break below 98.5 back in early May last year. Down another
11% since then it's coming time finally to think about reversing
back long again soon. DXY has already hit and bounced from
the support line at 88.44. Below here lies a long term dynamic
support line which has...