Friends,
A very quick note here highlighting both a long-term pattern development found in a wedge, which I have overlaid over the results of my predictive/forecasting model, whose targets are defined as:
1 - TG-1 = 1.43744 - 04 JUN 14
and
2 - TG-Lo = 1.40384 - 04 JUN 14.
With ECB decisions coming up tomorrow (05 JUN 2014), the Forex community may or may...
GBPUSD has another hammer forming off support today, and so I've re-calibrated my unfilled order accordingly. Whereas I had initially planned to go long at 6703, I moved the entry order up 30 pips to 6733, and moved my stop up to 6673. My target profit remains at 6985. I'm risking 60 pips to gain 252, which gives me a reward/risk of 4.2.
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Gold is about to rally for the seasonal trade so it should boost the Aussie up one final level. Nugt gold miners etf has Institutional support at this liquidity level. I'm looking for a stop hunt below all this liquidity to get the rally started tonight.
Friends,
Last March 12th, 2014, I defined the following preliminary targets:
1 - 1.11998
and
2 - 1.14694
These targets remain in force and in sight, based on a combination of technical validations, namely:
PROS:
1 - A potential Elliott Wave Wave-4 completion of a diagonal triangle
2 - Added validation of a long-term channel at recent rally point
3 -...
Some FOREX pairs's future are really in between the lips of CB's President either ECB for EURUSD or FED and Yellen for USDJPY.
Having said that, the future of USDJPY is in the lips of Yellen.
there might be a technical correction on the pair in favor or JPY towards 101.5 or even a little bit bellow, but on a long run, particularly of FED increases its interest...
We are at 12 candles sticks before ECB PResident Mario Draghi makes its statement with regard the interest rate.
In both cases, lowering interest rate to -0.25 or keeping the interest rate as it is will not give an impetus to the market because European Banks own savings will not go to investment or to facilitate the credits line for SME's, and the private...
Investors are holding the support at 1.3585. Inflation dropped at 0.5% (0.7% estimate) and unemployment rate dropped at 11.7%. From the TA perspective I saw an descending triangle. A break bellow the support would clearly be a negative signal for the future price action.
For the moment I am still waiting for stronger signals - When in doubt, better stay out!
0.8500 is the strong support which has now turn into resistance. I am looking for a deeper pullback to 0.8540, the 38.2% FIB retracaement, before initiating a short position.
The main risk to this technical picture is another RBNZ rate hike in June/July. If RBNZ raises interest by another 0.25% to 3.25%, the bearish TA could be negated.
Short NZDUSD...
The USDJPY weekly chart shows the following signs:
The pair is under the Tenkan Sen and the Tenkan Sen has cross down the Kijun Sen but all of them are over the KUMO. So we have a weak short sign here and we will wait to see strategic is the most appropriate. At 10/2013 we had the same situation as you can see in the diagram.
If next week the pair crosses...
The future of USDJPY pair is in the hands of the FED. BoJ made its announcement in the past week and decided to put an end to the Quantitative easing. On a very long term basis, USD vs JPY fight should end with USD being on the winning side. The "Historical" trading range of USDJPY is between 99 and 104 when the market is not distorted by Central Banks action...
Price has tested a sliding parallel of the slope( that dates back to 05-22-2013) multiple times and couldn't close above it. Additional reasons for entry can be found on the chart. Good Luck
The General trend is downward.
And there is lower high , and lower lows.
In a closer look the uptrend from early 2014 is broken.
And there is a good support @ 0.92
If it break the 0.;92 I'll go short .
But if it break the upper side of the falling trend. It could be a
continuation pattern and I'll be long.
Really liking this AUDUSD chart. First the nice red channel downtrend, followed by the blue upwards chart : our first sign that price was possibly rolling over to the upside.
We had a couple resistance rejections (red line) but no follow through to the downside... There's a new channel developing : the green one. Notice that the RSI dipped into deeper oversold...
USDJPY is floating in a large band between 103,5 and 101 since JAnuary 2014. It was an easy trading. Around 103 you short and at around 101 you go long.
After BoJ announcement of the tightening of the monetary policy, and the tappering, the balance and the swing would have been almost the same with a rising trend in favor of USD.
But there is a new situation...
For a few weeks I was writting about the Trend of EUR and making some daily updates sinceApril on twitter and since I am a member of tradingview.
Therefore to recall, since Early April , The first part of my trading plan was to enter a long on EURUSD from 1.37until 1.40.
We didn't arrive exactly to 1.40 but 1.3990XXX And then, the move down with a...
