DAX is approaching our first support at 11425 (horizontal pullback support, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our first resistance at 12547 (horizontal swing high resistance, 50%, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching support and seeing a bullish divergence and we might...
ASX bounced off its support at 5731 (50% & 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 5963 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) bounced off its support at 2.9%.
Key levels to look out for DAX. Please refer to our 4hr chart for a strategic view!
Nikkei is approaching our first support at 22205 (horizontal swing low support, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our first resistance at 23066 (horizontal swing high resistance, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support and we might see...
Key levels to look out for Nikkei . Please refer to our 4hr chart for a strategic view!
Last week's resurgence in EUR buying led to the first hourly cycle since Sept 24. The current setback should be seen within the context of a developing upcycle. The next decision point to potentially engage in buy-side conditions include the area of 1.1520-1.1480. Remember, as a rule of thumb, the 50% fib retracement of a cycle should be the minimum area to...
The pair trades vulnerable at an area of macro interest circa 112.00, where sizeable bids are expected. The market structure in correlated assets such as the SP500 -0.35% (hourly downcyle), US 30yr bond yield (hourly downcycle) and the recovery in the DXY 0.10% (still within hourly downcycle but far from lows) does not bode well for Yen shorts. A downward...
The breakout of the ascending trendline has come amid increasing tick volume ahead of this week's crucial Brexit summit. If you are going to trade the Sterling, be aware that you will be facing a headlines feast, with volatility to pick up significantly. The breakout of the trendline is only validated by the lower moves in the UK-US 10yr yield spread and DXY...
ASX is approaching our first support at 5577.4 (horizontal overlap support, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 5976.5 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is approaching support and...
Key levels to look out for ASX. Please refer to our 4hr chart for a strategic view!
SPX is approaching our first resistance at 2792.6 (horizontal overlap resistance, 38.2% Fibonacci retracement, breakout level) and price might potentially drop below this level to our major support at 2699.0 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with...
Key levels to look out for SPX. Please refer to our 4hr chart for a strategic view!
The currency remains supported as optimism over a historic Brexit deal sustains. On Thursday, UK PM May briefed her cabinet that the main sticking point of the Irish border is close to being settled. Next week, European Union leaders will meet to discuss a possible Brexit deal with Britain over dinner in Brussels on Oct. 17, and that will take center stage. For...
When analyzing the EUR/USD , the shared currency has survived the test of the ECB minutes with fortitude. Even if the central bank noted risks in a potential deceleration in growth, in their views, the slowdown does not yet justify a change in the monetary policy outlook. The hourly upcycle in the pair continues its course, with rising tick volume and the German...
The increasing volume to the downside in the CL contract and lack of bounce is worrisome. However, it’s trading at a critical juncture near $71.00, which is the 3rd touch of an ascending trendline and also happens to align with a major horizontal support area. Since the last cycle up was a legitimate one in terms of expansion and speed, this is certainly going...
SPX is approaching our first resistance at 2792 .2 (horizonal overlap resistance, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 2699.0 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with...
Key levels to look out for SPX. Please refer to our 4hr chart for a strategic view!
Key levels to look out for. GER 30 has broken past its major support. Please refer to our 4hr chart for a strategic view!