Short term targets on the downside, however key levels based on the Monthly chart 1.2000 looks ideal. I believe price would reach 1.100 levels. If the trend line is breached then we can see further downside targets 1.0500 then lower. However, once my short term target of 1.10500 is met I would be then waiting for PA confirmation for the long set up to 1.200.
SPY - Technically extended - Elliot Wave, Fisher RSI
Additionally from a fundamental aspect, the rising dollar will continue to have negative implications for US Stocks. Lower oil prices will offset this partially, but marginally the dollar effect will remain dominant.
USD/CHF has broken out of a 25 year falling wedge pattern that began in 1980.
You must purchase high-quality historical data such as eSignal to see past price action on this pair as TradingView only allows day up to 1992 on USD/CHF. The lower trend-line has 4 high quality touches rather than just the two TradingView displays.
When the EUR/CHF peg was removed,...
Looking the aussie on monthly chart we can see that he is in a very interesting place which is serving (until now) as an area of support. But what don't make very bullish is that we might reach the 0.50% fib (2001 low-2011 high) which also another fib (connecting on 2008 low and 2011 high), 0.618% is there.
So looking the daily and we see a close...
Gold reached a 38.2% retracement from 52 weeks low, wich would be a Key Point to watch. Also it is struggleling or just above a Yearly Pivot Point, the blue Box'n'Lines are monthly consolidation resistance areas. I am watching this to develop further.
Edit: It also is at 38.2% retacement from 4 weeks high w/ Pivot Point 1st support at 1222.45 and Pivot Point 2nd...
The orange lines are horizontal resistance
Blue line is 1hr resistance
Black line is monthly support.
Looking for price action to return to the lower bounds of this range / consolidation period.
Stop is place above daily resistance.
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Looking at the monthly chart we see a strong support at 1180 USD forming the lower side of the descending triangle with the downwards trend line on top.
If the support at 1040 USD falls, lower targets get activated. 1042 could be a short stop an its way down to levels around 800 USD or even more likely 700 USD.
If price breaks through the upper trend line, higher...
It's been a while since I was here last. I like the look of the place and plan to stick around for a bit.
Right..A fairly rudementary analysis to start with.
We have a EURUSD monthly chart here going back all the way to the beginning!
Given that the fundamentals are stacked heavily against EUR, I am expectting some weakness to materialize in this...
Monthly Cup and Handle spells big gains into year end. Very Strong buy signal just came through with a bullish cross of the Tenkan-sen through the Kijun above the cloud. Other indicators bullish as well with Stochastics about to cross back bullish and MACD in Bullish Territory. Good support shown after a small secondary was announced for acquisition purposes....
Basically this is how I look at price action, it's a story being told.
However, like a story - the plot can change at any time. Which is why it's important to make the right interpretations and follow up on your ideas.
At this moment in time we assume price is trying to creep up. We have nothing but respects for our main trendline and hints of going higher from...
Price has been testing an M S&R zone in the past for two times. After the second test, price dropped down to more significant (weekly) S&R to accumulate more firepower for probably another test. More recently price has broken trough important W S&R zone, using the base+middle line as strong support for an upwards move. We also have a fairly strong...