Eddied01

Eddied01

The next week could prove to be important in terms of direction for the next few weeks. The consolidation phase should come to an end soon and we could see at least a correction upwards if not the next big move up.

Eddied01

It does seem like an Inverse H&S has formed. If the pair could stay above 1.16353 we could see 1.19+ in the next week with a first target at 1.196 See below for a longer-term view

Eddied01

I am starting to consider that the Aussie can run to 0.78 after a small retrace. Below my previous posting which was the short view. With 3 days closing above the 50 day MA I have to consider that the pair has got more upside. A close above 0.768 should confirm. Either way at critical levels currently. With the dollar retracing the bull case for the Aussie...

Eddied01

We have seen the Dow test the 200 day MA, Will it head down to the 200 day SMA?

Eddied01

Head and shoulders formed on the 4 hour timeline Should see a retrace before we see new highs on the pair

Eddied01

The current setback should be corrective. Could see a potential inverse head & shoulders forming Bullish divergence on the RSI have been forming since early May and should play out in higher price soon

Eddied01

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Eddied01

I am expecting a healthy retrace before the FMOC meeting and rate decision on 13 June. The June rate hike is priced in but there are some doubt around another 2 in the year. A hawkish FED that gives confidence in another 2 hikes post the June hike will drive the bullish case. The trade wars have not been priced in over the past week and should that flair up we...

Eddied01

In the near term we could see a retrace and it does seem like the bounce of 1.15 could lead to 1.19 It is in oversold territory and the indicators point towards a retrace

Eddied01

The next big move should be up. It could be from current levels or 1282 could be tested again. A break below 1274 and it could go full bear mode

Eddied01

Does seems like this could be wave 1 of a bullish pattern and we should see a retrace that ends below 12.18 before it continues up. Alternatively - 30% Probability - this is part of a corrective wave and it will head for lower lows.

Eddied01 Updated 

Who said King $ was running out of steam? If this is a short squeeze like some analyst still believe then we will probably not break 95.15 New high today from low volumes with memorial day and the UK holiday. Not sure if wall street will be happy not owning the high so we could see another push higher tomorrow when they are back

Eddied01

We could have an interim bottom if 1.15 holds and 1.165 is broken convincingly

Eddied01

let see if the dollar gets resistance at the 200 week MA and retrace to the 200 week EMA

Eddied01

For the rally up since 2016 to remain just a corrective move it should remain below 75.If it breaks through it could keep running to at least 80. It is very possible that we can see one more move up and if it is the last push up it should fail below 75, most likely below 74 see below a longer-term view from a posting I did Oct 2017

Eddied01

Short as long as it remains below 12.7. Although the dollar index gained strength in the past week the rand also strengthened against the dollar which could indicate a very bearish sentiment for this pair in favour of the rand. It should go down to at least 12.1 and could go as low as 11.8 if the dollar starts to retrace. A break of 11.8 and it will go test the lows.

Eddied01

Longer term the dollar still looks bullish to me the question is just which path it will take to break the Jan 2017 high. Ideally it should remain above 86 should there be one more leg down. Below that it moves into longer term bear territory as it would have corrected > 20% from the 2017 highest close. Either way we should be in for at least a correction pretty soon

Eddied01

We should see the pair correct to around the 1.21 level and then complete the downturn around at least 1.15 and potentially 1.12