The dxy has traded up 7 days in a row, the first time since October 2018. On the chart I've noted the other previous occasions this has taken place. I notice on the occasions where the rally kept going strong (Jan 2015, November 2016) RSI was firmly in >70 territory. Having ended last week at 60 (a resistance level if the break of consolidation pattern holds)...
After largest daily move since February 2018, litecoin has cleared the median line in this pitchfork formation and is close to its 200DMA. With the RSI breaching 70 for the first time since 2017, will momentum shift the trend?
The 4h pitchfork formation has perfectly pivoted price action in this near-term uptrend,...
The spike in btc ran right into key median slope resistance. Along with the median slope is the 50DMA & 38.2% fib retrace off Dec-Jan slide. A break of this level and a potential run to test previous highs @~$4100 is possible. Rejection, and we stay in this channel between the median line & 38.2% slope.
After a steep decline through February so far, the euro has pushed into this trend line that is taken off the low set in Jan 2017. Along with this key trend line we again sit on the 50% slope of this decade long pitchfork.
Dxy double top 61.8%:
Last week to end the month the kiwi spiked into it's long term 38.2% slope setting up a short opportunity. Also coming off trend line resistance (pink dashed) & shifted back below the median line in this upside pitchfork. Also an RSI trigger break below trend line supports a move lower.
The similarities in price movement of the late 2017 explosion, steep decline into a range throughout most of 2018 & then spectacular collapse late in the year are remarkably similar to the price movements of 2014-2015. Also notable the the slip below 30 RSI in January 2015, also matches with the dip in December 2018. The question is are fractals a pointless...
Crude pushing to the top of this channel formation after easing through the pivot resistance of ~$54.55. 38.2% retrace of the 2018 decline & 50% slope of long-term slope in focus. Also note the RSI divergence in this channel.
30 min chart:
Following the trend of £ pairs nearing key levels, the GBPCAD has moved to the median line in this pitchfork formation, also coinciding with the 50% retrace of March - August move lower & also the key pivot level post brexit vote.