USDJPY cross is at the end its rebound from last week low at 107.30. Today as long as price will be below 111 is much better to open new short positions with 109.50 in extension. A daily close below 109.50 will open to more downside ahead. Bearish trend will expire only on a daily close above 111, in that case rebound will continue with 112.20 as a target before ...
The pair that that is always fair!
UJ weekly showing multiple confluences for rejection zone at around 109 level. If Sunday DAILY closes bullish engulfing we could definitely see lift off of this pair. But downtrend is still currently valid on higher Time Frames so be careful in swinging in any direction. My bias is just visuals of momentum switch on lower Time ...
DXY – US Dollar Index
Oh how the mighty have fallen!
The US dollar index fell for the third straight week in a row last week, closing at 93.974. At the beginning of the week we laid patient in ‘wait and see mode’ paying attention to how 94.00 would play as a level of support. First thing Monday price closed the trading day at 93.87. Verifying our downward bias ...
I am looking for a double bottom, without significantly breaking through the previous highs. The facts that it didn't touch (missed) the support trend line and that it didn't make break from the old resistance are short term bearish of the USDOLLAR. Also it is below RSI 50 and its momentum is clearly bearish.
When the indexs gets near 12260 and the RSI 30-35, I ...
Hello Traders,
The US DOLLAR, which is a basket of major currencies weighed against the USD, is showing signs of weakness after an explosive move to the upside. Here we have 3 potential targets. The first target, and highest probability target, is Geo's Off-Set Rule #3 at point 3, followed by Geo's Off-Set Rule #2 at point 4, and finally the 1-4 target line. ...
Just a look at how our count is coming. We did have an outside day with a new low on this count and a down close but it left us with a large wick as prices stayed in the trendline and hugged the lower fork line. Could just be a cycle churn but either way August 18 still looks good as the Stochastic is on slow decent to oversold.
Hello Traders,
In this Wolfe Wave I want to highlight the internal moves between the points.
Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on.
ab=cd
Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern. 2-3 is typically the longest wave in ...
The USDOLLAR index has broken its upward channel and now seems free to go to the next resistance level of 11855. This couls spell a short term rise un EUR and GBP v USD.
