After the almighty 100 level, held price action...again, we have witnessed a strong rebound that has broken the upper boundary of a 7 month long downward channel. My thoughts: after a quick correction to 103 we should expect resumption of the new trend high.
May the Market be with you.
As I previously posted two months ago, this pair it's in a well defined channel. I hope you rode the wave down from 1.16. You didn't ???? Well no worries amigos you might have another chance over the next two months. Big players in the foreign exchange make the big bucks because they know the market it's predictable and just repetition. if we look at price action...
Now that the hype about Yellen it's in the rear view mirrow, we should reflect in the technical picture. In my opinion last friday's job number has provided a correction of the recent down move and now we might be presented with an opportunity to short again and to give fundament to this theory we can see what happened last time we had a similar formation to...
After a shocking NFP number last week we have witnessed a much needed correction of the bull move of late. Now after reaching the 0.681 retracement level it looks like the Greenback it's ready to continue its way up. Looking at the big picture, price action it's within a down trend so we should probably ride the wave until it hits the top of that channel.
May the...
Even though price action found massive offers at recent monthly resistance (1.1612). I believe we should have one last impulse up to touch the top of the channel. As long as 1.1433 holds we should be ok to stay long. So I would tread lightly if I was a dollar bull, at least for the near term.
May the Market be with you.
Many times us traders trying to be successful at what we do we get to complicated with the details of the smaller time frames. Looking at the BIGGEST picture we can conclude that the Greenback it's in a downtrend and that probably will continue unless it breaks through the top of the channel. But in the meantime it's approaching a level that it's being pivotal for...
Price action in the last few months has carved out a pretty looking upwards channel. After some consolidation and a small correction, bullish action has resumed today and this is confirmed by a higher daily close today. I presume price will go as high as 1.1650 to the top of the channel and then correct down to the bottom towards 1.12.
Even though a multiyear support line was broken yesterday, price action found buyers again al 111.00. We should see a retracement back to that support line turned resistance or to the top of the descending channel. Either way I'm shorting this pair for the long run it's just a matter of time before we find entry points.
May the Market be with you.
Overall trend is down. It's been consolidating inside a bearish pennant for the last few months, it's should be a matter of time before downtrend resumes. Waiting for an entry point at the top of the formation or at the break of the bottom. Fundamentals (rate cut) supporting future move down.
May the Market be with you.
For the last two months we've seen a very strong rally on this pair. Price action it's been bouncing around a well-established channel. But is it over?. If we look at the bigger picture the long term trend is down and a retest of former support turned resistance at 0.7582 could mean resumption of the original.trend. Short at 0.7575. SL at 0.76. Target 0.7326.
May...
Even though fundamentally the USD it's posed for a decline in the long term, we should witness a correction to the top of the descending channel in the next couple of weeks. Price action this week supports my analysis. Double Bottom at 95.93 during yesterdays and todays sesions plus a perfect .786 retracement to C from the move A to B makes it a great technical...
After an impressive rally that lasted for over four years the greenback looks like it's on its way to the bottom of the rising channel. Fundamentally it has ran out of fuel with diminishing expectations of a rate hike and the Fed aiming towards a weaker currency. We believe that we should get a final thrust up before we see mayor support broken. Happy trading.
Pair it's at bottom of channel and on it's way to the top. When everything it said and done we could be looking at a 1800 pip trade. Trade safely very volatile pair.
This pair it's clearly in a upward channel but the fact that price action hit the top presents a good opportunity for a trip back to support. Bear in mind that this position will be against the overall trend so only small positions with a tight stop should be taken.
