BOE is the only other central bank talking about rate hike and so for me GBP is the best candidate to fight against the USD strength. Technically we have been range trading since 2009 and at the moment we are in the lower part of the range, furthermore my eyes see a good reversal pattern forming, not yet confirmed.
Morning everyone! The wedge did a pretty good job. No I can see that the rally took a break. On a very short term I would say that there is a good chance for the price to break 1.1240 and reach for 1.1260/65 resistance. Don't forget that there are some important economic indicators scheduled for today from US ad some for EU.
EURUSD is trading sideways. 1.1180 proved to be stronger than I was expecting. A break below the local support would signal a drop towards 1.1070, while a break above 1.1140 i believe would signal a rally to 1.1180.
Background: Price found enough demand to halt its current downmove @1.46300 where the current minor rally broke the (red) supplyline indicating that demand outweight supply at this moment , the rally stopped near the current high @1.5552 which can bee seen as current resistance which needs to be overcome in order to speak for returning strenght to the market ,...
USDCAD seems to be in the process of doubling the range. Here's why: 1) the CAD has been the strongest currency, whereas the USD - one of the weakest in recent days, 2) every next correction (move up) was smaller than the preceding one - weak demand, while the swings down get bigger, 3) market seems unlikely to stop and reverse in the middle of nowhere - it's...
DAX IN A NICE UPTREND BUT WE'VE RECENTLY STALLED CAUSING THE DAX TO CONSOLIDATE FOR ABOUT A WEEK. WE'VE MANAGED TO BREAK OUT OF THIS CONSOLIDATION CAUSING THE TREND TO CONTINUE. PRICE IS NOW PULLING BACK TO A LEVEL WHERE THERE'S GOING TO BE BUYING INTEREST. TARGET AT 12500 WITH STOPS AT 11974
LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES...
Based on a possible wave count, AMZN is currently in a channel that could eventually continue the intermediate bear move
Update on last published chart (see bellow)
Trade ideas are based on my anticipation of an inverse head and shoulders. This should atleast help gaining some orientation for price action and time windows. Make sure to check out my other charts for more information. Feel free to leave comments or questions bellow and upvote this chart if this is usefull to you. Cheers : ]
hey Guys, AUD/USD just had a nice bullish move according to the weak Dollar after Mrs. Yellen had a nice little talk. What do we see? - We are approaching 0.7900000 -> Round Number and Range Trade Area! - RSI overbought conditions - Coming in 1.272 extension of prior moves Targets will go to .0618 Retracement - IF Target 1 is reached, stops of the other 2...
This is a WEEKLY chart of NFLX. Did you realize that Netflix was in a range? You may not have if you didn't step back and look at a Weekly (or longer) chart. It is amazing to me how things seem so much clearer when you step back and look at the big picture. NFLX has been in this range since late 2013. Since then, when the stock comes down to the $320 area, it...
3 SIGNAL FOR UP TREND THA.T IN CHART EXPLAIN WILL
After two harmonics pattern, the $USDJPY is ranging to gain momentum before its next big move. In which direction will it break? The 200 SMA line will act as resistance in any attempt of upside breakout.
Maybe a little labour intensive for some but a safe way to book profit without much risk. Buy and sell in 2 units at support and resistance. Move stops to protect positions. Take one unit profit at either support or resistance. Wait for break out in either direction. Repeat until breakout. Or leave it alone if it looses it's neatness and starts getting...
Can the Cable finally recover from its free fall? The $GBPUSD reached the bottom of a weekly trading range. We have an hourly pattern that may trigger the reversal. See this setup and more in this week's Weekly Markets Analysis newsletter: marketzone.tumblr.com Subscribe so you won't miss a thing!
Hi traders, GBPUSD still in a boring support zone which started on the 8th of January. 1.5200 is resistance and 1.5050 is support. PLEASE; dont buy at the top of this range or sell on the bottom, wait for the break or buy at the bottom or sell at the top so your risk will be smaller. I am long right now from 1.5080, SL right now is at positive at 5085...
There is a marked long trend tendency with similar resistance and support lines. Inside that, we can see how the bullish price is strong and has had a retracement of 61.8%. Both fibonacci are exactly the same, and as we can see, the story seems to repeat. We can also see how both range have exactly the same % with very similar price unit ranges.