FX_IDC:USDJPY completed the handle of the Inverse Cup and Handle pattern and its now testing the previous daily low. If FX_IDC:USDJPY breaks down then it should retest the daily support turned resistance as the 200MA Daily, 50/200 MA Weekly, 50/200MA Monthly Moving Averages should provide support for the price to bounce. If it bounces from here then it needs...
Currently, the sentiment of the pair seems to be clearly inclined to a down movement of the price. But we should rather wait until Friday to find out more about what will be the real direction of the pair. Note that the US is strongly considering a hike in interest rate which can cause the USD to grow much stronger. However, the France is currently on crosshead...
After breaking out of the bullish triangle, FX_IDC:XAUUSD shot up to the 1260 level. Its flight was halted because of the previous support turned resistance that was broken after the Trump Victory and not only that but 3 Moving averages from the Daily, Weekly and Monthly time frames. In my opinion FX_IDC:XAUUSD will have difficulties breaking this level so...
A nice pattern has been forming for a month on FX_IDC:XAUUSD . Time will tell if this is a bullish sign.
FX_IDC:USDCHF suddenly shot up and stopped my previous short. So far it indeed got rejected at a daily forming a nice reversal bearish candle. Same parameters as previous trade. Previous Trade Idea: Entry: 1.0967 SL: 1.105 TP: (tp1) 1.005 (tp2) 0.9999 (tp3) 0.991 Any feedbacks are appreciated!
FX_IDC:USDCHF looks like its having difficulties breaking through the 50MA so it looks lika a good short opportunity. Entry: 1.0089 SL: 1.0105 TP: (tp1)1.005 (tp2)0.99997 (tp3) 0.991 Any feedbacks are appreciated!
After it broke and consolidated above 113, FX_IDC:USDJPY is looking to be another good long. Let's see if it can challenge the previous high at 114.8. Entry: 113.251 SL: 113.2 (Changed to break-even 113.3) TP: (tp1)113.9 (tp2)114.45 (tp3)114.8 Any feedbacks are appreciated!
FX_IDC:EURUSD broke through the daily support at 1.0587 with high volume so I suspect it might retest the previous low at 1.05474 before reversing or continuing its journey downwards. Entry: 1.0585 SL: 1.059 TP: 1.0548 Any feedbacks are appreciated!
FX_IDC:XAUUSD formed a double top and failed to retake the 1240 level after. Lets see how low can it go in the meantime. Entry: 1236.36 SL: 1238 TP: (tp1)1229 (tp2)1222 (tp3)1216-1214 Any feedbacks are appreciated!
After looking at the daily timeframe for quite sometime, I just noticed the possible Inverted Cup and Handle. Let's see how this forms
FX_IDC:USDJPY has been trying to break the previous support turned resistance at 113. As long as it consolidates in these levels then we can expect a continuation of its descent to at least 112.5-112.3 but if it manages to retake and hold above 113 then we can talk about possible long reversal. Entry: 112.95 SL: 113.1 TP: 112.5-112.3 Any feedbacks are appreciated!
With Janet Yellen's testimony in front of Congress keeping USD pairs trading within a rather conservative and cautious range, the game plan moving forward relies heavily on the "post-Fed trend" that occurs once tensions have eased and money starts changing hands again. Since then, Trump's comments on immigration reform, protectionism, and heavily manipulated trade...
With the current USD political uncertainty the AUDUSD pair is likely to move down in a zig zag formation.The expectation is of a FED rate hike in March but due to the Trump administrations criticism of the higher interest rate the speculative community is uncertain about the direction of the pair.
The usd has lost a few points after Yellens grilling in the Congress.This gave the speculators a sign of a loss in confidence of the March rate hike by the FED. The resistance trend line is at 0.7720 and it should fade away to the short term support line at 0.696 Prior to the House of reps testimony the usd gained an edge on the aud with the positive economic...
Last week in my update on US “dollarindex” I mentioned the expectations of a recovery bounce towards 101.80-102.20 to cover the immediate losses before starting its next leg downside. Since then Dollar managed to bounce and reached our targeted range. Pressure remains on the downside as fundamental outlook for Dollar remain uncertain despite “Janet Yellen” gave...
Daily Harmonic View on Long Bond in 2nd Day of Yellen Testimony tending long here with stop below 149'30
Gold closed up 3.1 points on Tuesday but that was basically a move sideways. There was some volatility in the morning when Fed Chairwoman Janet Yellen began her testominy. But while the DXY dollar index had a strong move up, Gold stayed basically flat. However, it is clear on the chart that Gold is still trading under the 6 and 8 day moving average so my bias is...