This correction has been deeper than any previous one, which is a signal that we're going to see more of the bullish price action.
One of the strongest down trends currently. The sellers are kind of protected by the wide-range bar. The most recent up leg is equal in size to the prior one, legitimizing a shorting idea.
The GBPAUD is moving in an extanded flat correction, but the trendis still down. We've just had a double top pattern, which usually marks the end of the rally. However, if it is broken, there's another set of resistance areas awaiting the price: - the downsloping Median Line (ML), - the prior lows at 1.777, - the range between 1.80 and 1,82. The sterling has been...
Here are the key points for this chart of GBPNZD: - Trend. I find the trend still DOWN, although it's has lost momentum recently - the correction has come across almost the entire median line set - Fundamentals: the NZD is still strong or strong-ish, while the GBP is the weakest currency in terms of relative strength. The NZD is also relatively oversold. -...
...must go down. EURUSD failed to reach the bullish blue median line twice. Then is started to follow the bearish red pitchfork. It broke through the lower MLH's support and it's on its way down. It is likely to reach the dashed line, which marks the size of 'price reaction' extent below the new sloped balance line (being equal to the size of price action' above...
Perhaps not directly, but eventually GBPJPY may be heading for 100. It is expected to make it there by the end of Q1 2017. This is when and where price would meet the median line and double the range that was previously observed to the upside (above the balance line). Are the lows at 119 gonna be taken? It's a strong support, isn't it? Well, given the failure to...
CADJPY is in a nice down trend, so another oportunity to enter short may be developing just at the current resistance levels, somewhere around 82. Take profit at the prior lows, at about 81.
EURGBP is in a nice up trend, so another oportunity to enter long may soon develop at the support levels, somewhere between 0,805 and 0.802. Take profit at the prior highs, at about 0.81.
Here are the key points for this chart of XAUGBP: - Trend. I find the trend still UP, although it's been losing momentum recently. - Fundamentals: the Gold is strong, while the GBP is weak, in terms of relative strength. The Gold is also relatively oversold for a strong currency, whereas the GBP is well overbought. - Support. The falling price is expected to...
Here are the key points for this chart of WTI OIL: - Trend. I find the trend on weekly charts still DOWN, although the last leg up looks very promising for the corrective rally to continue. There are two major highs to be taken out (at 50.9 and 62.8) for the down trend to be over. - Fundamentals: the oil supply is still very high and at higher prices may be even...
Here are the key points for this chart of AUDUSD: - Trend. I find the trend UP - Fundamentals: AUD is very strong, while USD is weak in terms of relative strength. The USD is relatively overbought for a weak ccy. - Support. The falling price is expected to find support on the upsloping blue trendline parallel, which happens to be around the 23.6 retracement. -...
Here are the key points for this chart of XAUUSD: - Trend. I find the trend still UP, although the last leg up looks like an ending diagonal. - Fundamentals: Gold is strong, while USD is weak in terms of relative strength. The USD is relatively overbought for a weak ccy; Gold has been strengthening in recent hours, but it wasn't evident in this market. - Support....
Here are the key points of my chart analysis for CRUDE OIL WTI: - Trend. I find the trend down; the ongoing rally is corrective in nature. I expect price to move down to one of the support levels. - Support. I find the key major support at the last major lows, which coincide with the 61.8% retracement (29). Minor support: first at the 23.6% retracement (32), next...
Here are the key points for this chart of EURUSD: - Trend. Based on the impulse moves I find the trend still UP, although suffering from a deep and steep correction. - Fundamentals: both EUR and USD are neutral in terms of relative strength, but EUR is stronger than USD. - Support. The falling price may found support on the 61.8% retracement (1.0966), which...
Here are the key points for this chart of EURSEK: - Trend. Based on the blue pitchfork I find the trend still UP, albeit suffering from a severe correction. - Support. The falling price has found support on the 50% retracement (9.36575), which happened to be just above the prior high (9.35238) and a bit below 161.8% of the prior down swing's range size. The range...
Here are the key points for this chart of XAUNZD: - Trend. I find the trend up. - Support. The falling price found support on the prior sloping resistance line at about 1800. There are minor support levels on the lower parallel at about 1790 and on the black trendline, just above the prior major high and the Fib-38.2% level (about 1760). I find the key major...
Here are the key points for XAUEUR: - Trend. I find the trend clearly up; the breakout from the long-term bearish Schiff Pitchfork seems to confirm it. Price seems to have switched from the down sloping fork to the up sloping one. The deviation from the black trendline is a sign of trend's acceleration. - Support. The falling price has found support at the upper...
Here are the key points of my chart analysis for AUDCHF: - Trend. I find the trend down; the ongoing corrective rally is very steep and seems unsustainable. I expect price to move down to one of the support levels, esp. 0.70. - Support. I find the key major support at the prior major top (0.698). Minor support: at the 23.6 Fib retracement (0.70). - Resistance....