The pair is back to the strong resistance level. Great opportunity for long and short trade.
A the moment we are still risk on, but watching the news because any event could switch it.
Looking for potential reverse patterns forming here, or trade a long break of resistance.
A lot depends on the non-farm data today as well.
Rising channel is about to retest 0.90 level after a clean break of the trend line.
Today CAD unemployment data is expected and non-farm data from USA. Break of the channel to the downside could trigger a good short trade to the low of the channel.
For now we have a risk on mood with markets getting higher and war with Iran averted, at least for now...
Friday of non-farm data and CAD unemployment. After touching 1.31, now we pulled back. Formed a double bottom, so can enter long again.
Expecting the price to be near 1.31 by the time of the non-farm data. It usually revolves near round number before data. Long again through 1.31.
If data fails, we can still make money on the double bottom trade.
Bitcoin is finally testing the trend line and price is consolidating there, confirming it. Now we can add more longs on the break of it.
As this year is the year of halving we are expecting a similar scenario of new highs. Check my analysis on halving.
If all goes right, we should see bitcoin sky rocket after halving.
Based on the price action, this could be one of the best years for platinum since 2007. A break of the confirmed downtrend line and close above it and 200SMA. For extra confirmation, waiting for the close above the $1000 level.
This could be a great long term trade for 2020, targeting $1700 at 61.8% fib level.
Commodities are very bullish at the moment due to...
The break at the low of wave 4 is going well and war tensions between Iran and USA are increasing demand and prices for safe havens.
So far no positive news is out regarding the conflict. Looking at the overbought shooting star candle at around $18 level, it would seem that a pullback could happen. So far still bullish on silver and gold. Waiting for new highs to...
Looking at the unfolding events so far between USA and Iran, it seems like tensions are escalating and the fear of war becoming more pronounced. Last week we saw massive gain in safe havens and news over the weekend are not reassuring.
Technically, we could start seeing a H&S pattern with RSI divergence. Looking at earlier entries here to minimise risk, since one...
After unprecedented attack from USA sanctioned by Trump the week turned into quite roller coaster. War threats with Iran have created a fearful first week in the market as safe havens surged with gold and silver gaining around 2.4% and 2.7% respectively since the start of 2020 as investors are trying to protect their capital from exposure in risky markets. JPY of...
LVMH looks to be potentially topping and getting ready for a pullback, risk-reward is good here as we try to catch the pattern at the right shoulder. RSI showing divergence.
More confirmation on the break of the support zone and trendline.