About meGary Christie is a senior technical analyst who heads the North American Research desk at Trading Central. His team provides market coverage, risk management and market direction on equities, options, FX and commodity futures to retail clients, hedge fu
USDCHF has done an impressive reversal. The pair finally broke away from its short-term consolidation between 0.899 and 0.9185. We have been watching for a break of the rectangle pattern for quite some time. 0.9185 has now become key support in the rebound. Look for a continuation higher towards targets of 0.9375 and 0.9515 in extension.
The USDCAD has started to rebound after breaking above its 50-day moving average (In Blue). As long as 1.3035 remains support, look for higher price action towards 1.3505 resistance in what could be the start of a major rebound higher.
The pair broke a key rising supporting trendline in place since March lows and is now testing overlap support at the 1.275 area. A break below 1.275 would put further pressure on the pair down towards 1.251 and 1.2245 in extension.
On Thursday, Applied Materials (AMAT), the global leader in materials engineering solutions for the semiconductor industry, is expected to post 3Q EPS of $0.94 compared to $0.74 last year on sales of $4.2B vs $3.6B a year ago. The stock has an expected move of 5.2% and dropped 4.4% after the last earnings release. The stock has 22 buys, 5 holds and 0 sell...
Looking at a daily chart from a technical perspective, the stock remains bullish as an uptrend is starting to take shape. In the short-term, prices have been in a consolidation zone between $152 and $121 since the last time the company reported earnings. Look for a break in either direction. A break above the consolidation at $152 would call for a resumption of...
Price action is trying to remain above a rising trend line in place since the March low at $7. The preference is for a rebound towards 19.30 if the earnings loss is better than expected. If $12.50 doesn't hold, look for a retest of the $7 March low.
Square has been in an uptrend supported by a rising trend line in place since March lows. Recently, the stock broke above a symmetrical triangle bullish continuation pattern. The measured move of the triangle breakout is at $160. If earnings are a miss, a break below 116.85 support could signal the end of the uptrend.
Looking at the chart, prices broke above a declining trend line in place since January of 2018. The 0.618 Fibonacci retracement level from the swing high of 0.814 and swing low of 0.551 is being tested as resistance. A break above could have strong bullish implications towards the next major resistance area at 0.7365.
A cup and handle continuation pattern may be forming. Price action has been consolidating since the prior uptrend took a pause. A break above key resistance at 1.1423 (Green line) could pave the way for a momentum trade towards March highs around the 1.1495 level and could signal a resumption of the uptrend in the EUR/USD.
Looking at a 4-hour chart, the AUD/USD remains in an uptrend supported by a rising trend line. Prices just broke above a classic symmetrical triangle continuation pattern. As long as support can hold near the 0.69 level, look for a continuation higher towards 0.708.