We could very will see a continuation to this tightening equilibrium pattern. 50 MA is acting as resistance.
As predicted: in a bullish environment for USD, with XAU/USD under big resistance, the SHS pattern breaks and gives a downward signal
SHS for GOLD. Either breaks its resistance on the upside or breaks the SHS neckline and goes back for another round of range under 1350. USD DXY on strong support level and reactive there. Fed tightening bullish for USD. Rumor on China unloading USD only bearish factor for USD.
At the same time we see: - DXY on massive support twitter.com - EUR/USD under massive resistance twitter.com - Gold under resistance: twitter.com - Quantitative tightening from the fed which should result in USD strengthening, and QE still going on in ECB, which should lead to EUR weakening.
+ Fed's quantitative tightening should be bullish for USD on a macro perspective. + EUR/USD under resistance multiyear resistance: twitter.com
LTC forming higher lows and lower highs in a tightening pattern.. IF we break 123.75 we should see continuation to the up side. Buy @ break of 123.70 Stop @ 115 Profit take @ 150-200 levels Use travelling stop loss.. increasing as LTC grows..
Loving the setup here, has to go one way or the other in the next few hours. Tightening channel. Position loading is a good idea right now in my opinion.
I expected USDJPY continue to drift upward today. Yesterday FOMC statement and Yellen's speech certainly helped a lot. Today is BOJ's turn and I really don't think they will reverse anything as their 2% inflation target is just still too far away. Actually since USDJPY strengthening, it helped push them toward their goal a bit closer and I think they will be more...
Gentlemen, we have a very compelling monthly signal in this pair. The targets are on chart, as well as the reccomended long term stop loss. This trade has positive carry, so, holding it will pay you interest based on the interest rate differential between the Swedish Kronor and the US Dollar. I anticipate one rate hike this year, which would accelerate the dollar...
Since the beginning of the year FED has gradually lowered its purchases of asset backed securities - QE3. Until it ended the stimulus program on 29th of Oct. It is interesting, however, to note that the corrections following the FED announcements has been more and more limited. It should be of no surprise as FED sends several upbeat signals to markets that it is...