A near term top was called last week in NZDJPY but something bigger may be underway. The rate has seen its deepest penetration of 2 year trendline support. The line, when extended from the June 2012 top, exerted influence at tops. As such, the action at this trendline is a major development.
Near term, there are characteristics that make the current situation...
NZD has been really strong lately but it's starting to show signs of fatigue. The assenting channel near structure gives me the indication we will likely see a break down. Not to say a news event won't blow things up but the chart reads weak.
I shorted this pair based on the rallying I'm seeing on NZDJPY across the board, and based on the triple doji that is information at resistance as well. Price is below the 50 SMA and we do have a pattern of lower highs. I had placed a similar order yesterday that had not gotten filled; in light of the candlesticks, though, I revised this order to enter at a lower...
Friends,
Today, I tweeted several signals and commentaries on this pair, looking at a smaller 4-hour timeframe, compared to this bird's eye daily view - Here is the original signal: twitter.com
The interest in the first 4-hour timeframe had to do with the development of a bearish Kiss-of-Death, which carries a high rate of success in moving in its intended...
Friends,
CHANNELS:
I have defined several times before the difference between the standard channel and the momental channel. The most important distinction between the two is the survivability of the latter over the former. In other words, momental lines, when projected in parallel, will remain capable to bracket price action throughout the entire life of the...
Price is current supported by demand level @ 87.15-50 handle, but however with my previous analysis & current flat bottom triangle pattern suggest more downside in play, however the key price to watch is 87.15 handle...price breaking downside of this level & stabilizing below it will lead more downside.
