Price was playing within a range-bound market environment and I assume that if bulls overall dominate the market for the remaining days of this week. If price breaches through the upper band of this range-bound market with intensive volume then buyers may prolly lead price around the previous swing high ( Light Blue Line ). If It ends with a bullish bias...
We already know Brexit deal has somehow affected EURUSD upward bullish momentum which was good enough earlier days before the vote in the UK but not it's not the same as it was in back days. Talking about volatility EURUSD has an average of just 9.4 pip per hour comparing to GBPUSD it has around 26.6pips within an hour which is quite a great amount of volatility...
Look for the SPX to trade rangebound between 2960 and 2880 for 2 to 3 weeks, followed by a significant move either to the upside or downside. Its too early to tell which way the move will resolve, so be watching closely. My bias is towards the downside, specifically towards the trend-line at 2790, but considering the amount of liquidity the Fed has already...
Another Forex Snack. Here we are just before the FOMC rate decision and the EURUSD is positioned at the middle of a recent range. A repeatable event in moving towards middle ground just in front major news releases anyway. My reddish box is the battle ground between Buyers and sellers. A break in either direction for me would point towards a longer term move....
Yes I know my earlier post was about wanting Sell this pair around the 1.2300 level. However, with this impulsive and sudden move higher and taking into account of some potential dollar positive news on Friday ( tomorrow / 8/23/19 ) I can see a run up in price based on a EW 5 wave setup I see on the hourly or 30M charts. I know they are short term charts, but this...
It's quite clear that consolidation is happening inside the triangle. Here are the reasons why it will most probably break up and not down: - we have strong support from previous top (possibility of a false break down) - support is stronger due to additional Fibonacci levels, that worked nicely as support before (colored lines) - convergence on indicators is...
That was an abrupt fall on BTC, but good thing it quickly found a support on the SMA 100 that also coincides with the top of previous consolidations which acts now as a new minor support around $6550. MFI also shows an oversold market in the 1hr chart which gives us additional assurance of the price pulling back up in the next 24hrs. Targets are around $6700 and...
XRP made a high of $3.31 on Jan 4 2018 after which it sold off with price appearing to bottom on Feb 6 2018 at a price of $0.59. The downtrend line is marked on the chart to show the bear move between the prices mentioned above. A curve has been used on this chart as well to show the bottom action of price in Ripple (XRP). It appears to be a complex, inverted...
During a time of correction phase, is a good time to find prospect for long term investment, while that's is happen, is a good time to pick up some short term trade for a day or two. The charts indicates the the price action has bounces of 50% fib and now crossing over 38.2%. Indicator on the other hand as suggested by MACD recent crossing and RSI shows plenty...
USDJPY is now in a strong support zone so I just enter with a long position with TP and SL shown in the chart. Also in the Daily chart we have a long-trend confirmation Heikin Ashi candle :)
Break of the ascending trend line may be a start of a new dollar rally. The trade is risky taking into consideration the lack of momentum during Asian session.
For this pair I have two possible scenarios that I am looking at. If this corrective structure on the 1 hour chart holds we should see another push up towards 1.3170 primarily and if that short term resistance folds an attack of 1.3270 is likely. If this corrective structure fails (orange arrows) I expect buyers to step in around 1.3080-1.3085 with targets at the...