Index has failed to close above the Kumocloud and was now rejected by the Weekly PP/Kumocloud/Daily R1 confluence, hinting a ST top may be forming. A close above 2045 is needed to break the contraction and bearish trend (price below kumo). Still, Monthly S1 has held support, suggesting further consolidation or renewed upward trend. Oftentimes Index needs to test...
Index In Consolidating Triangle Pattern after a test of the Kumo Cloud and breach of the Kijun Sen and Monthly PP. The steep kumo wall ahead of price increase chances of higher volatility short term, as price try to escape the contractive net. A breach and close below the Kijun sen (white equilibrium line) and the Weekly PP at 9635 may trigger a drop towards the...
The pair completed a perfect AB=CD at 122 on weekly timeframe and has been struggling to break that level. The target of this pattern stands around 111 (Minimum target , i.e 3/8 fib of CD leg). On the Daily chart price has made a second bearish Kijun break in a week, closing below the Monthly PP after retesting the broken trendline from below. Next level to the...
The pair has declined sharply this week along with with equities and is approaching important key support around 139,50 which is a confluence of kumocloud and lower Pitchfork channel going back to beginning of 2012. It seems unlikely that such a strong support level will give in at a first test, but if it is breached on a closing basis we likely will see a test of...
Just to add to the importance of current level in UsdChf, is the sloping trendline, which is tested now. Could be the neckline of an somewhat ugly H&S. They rarely look perfect anyway. Target of abcd stands at 1,1590 and 61,8 at 1,0480. Also note that 1,0140 is the 50% fib of the CD leg, which add resistance here. UsdChf is oftentimes a good approximate and...
Price has reached the top of a well defined Pitchfork channel and at the same time testing the Weekly R2. The question is if price will manage to enter overbought territory above the channel, aiming at the Monthly R2, ahead of fridays NFP. A breach and hold on close basis will ofcourse be another sign of the strength of current bullish trend. A retracement from...
Price has reached the 38,2 fib resistance of the large 2002-2008 bearwave. Considering that a recent bullish kumobreak is in play along with strong bullish momentum, shown by the faster CD leg in the AB=CD pattern, may put in question any respect of this level (1,1775). Also 1,1625, the 61,8 of CD leg was breached without hesitation, points to a completion of...
Price has reached the completion point of the large ABCD pattern starting in July. This is also the lower band of a Pitchfork as well as the 76,4 fib of the july -13 july-14 bullwave. This may call for caution to short right from this level. But if it breaks and hold, the next significant support stands between 1,48-1,50 / previous low and Yearly S1.
May Bounce At Strong Resistance from Kumocloud, Monthly S2 and horizontal resistance of previous highs.
move up from the Monthly Pivot Point and stands now at the top of the cloud which is a flat, defined resistance at 119,65. An upward bounce from the trendline and a break of the kumo may expose Monthly R1/Weekly R1 pivot confluence at 120,85. Support stands at 118,70/118,20/117,70-90 with emphasize on the latter (sma200-Kijun Sen-Monthly PP)
Price stands at the top of a defined channel and is pushing the Kijun line (white line) for a break. A close above the channel and daily R1 at 0,8205 may trigger a deeper correction towards R2 at 0,8250 or Kumocloud at 0,8270 and monthly S2 at 0,8278. On the downside, watch a breaching of the triangle and daily pivotpoint at 0,8160 for a test of the low at daily...
Price plunged yesterday after a rather hawkish FOMC and is now close to the bottom range that has been in play since five weeks. Retail Crowd has again turned net long EurUsd (since yesterday) which as of today has increased (Alpari positions). This along with the PA itself warns of further losses and possibly a test of 1,22 level. Critical right now is the Weekly...
Price has entered a long term strong support zone between 0,80-0,82. A minor ABCD is completed with a minimum target at 0,8430. With a major ABCD completing at 0,8020, price may overshoot from here though. Strong fibonacci confluence support stands at 0,7925-50
Currently at Support A close below the Pitchfork and SMA200/Daily S1 may expose the Daily Kijun at 1,2422 and Weekly pivot point around 1,24.
Price is trading within a Pitchfork channel with resistance from the Kumocloud. The sharp move up today was firmly rejected just as in the beginning of the Pitchfork. Price is behaving as it wants to continue down and has closed below the Kijun line again (White line). Chances are price will make a new attempt to breach the Monthly S2 that gave todays bounce. If...
Price is attempting to break out of the Kumocloud after intraday breaching of the trendline going back to mid October. A close below the Kumocloud and the Monthly PP at 9700 would signal further losses.
Price failed by the confluence of horizontal resistance, Monthly PP and Daily R1 along with the Weekly R1. After good US data price tumbled to the lower Kumo Cloud and a test of the Kijun (White line) which has held support this far. A daily close above the Daily S1 is preferred for relieving direct downside pressure for tomorrow. A close below Daily S1 at 1,2389...
Bearish TK cross, kumo cloud still supporting. A close below may be the starting point of larger correction. Note that the Kijun sen (White line) held resistance . Blue bar is the bias from yesterdays close. If price breaks above the Kijun line, we may see another run at the high or Monthly R1. On Weekly timeframe the large ABCD has been completed pip to pip...