Here are the key points of my chart analysis for XAUUSD: - Trend. I find the trend clearly up; the breakout from the long-term red bearish channel seems to confirm that. Price seems to have switched from the down sloping channel to the up sloping one. - Support. The falling price has found support at the upper border of the down sloping channel. I find the key...
Here's the summary of how I see the current situation in financial markets (as of 14.02.2016, 20:00 CET): The strongest currency: JPY (currently weakened, relatively oversold). The weakest currency: GBP (currently a bit stronger, slowly stepping into the overbought territory). The leading markets: - XAUGBP - trending up; - XAUUSD - trending up; - XAUAUD -...
In EURCHF we've observed the former supporting trendline turn into resistance. Now it's expected to correct down to 1.1. But first a small move up to 1.11 is probably in the offing.
The trend is "quiet up" and the bulls seem to be strong in this market, but it also looks like it's hit resistance and at least some correction might ensue, It's really hard to say, because the EUR is one of the strongest currencies now (somewhat reflecting the gold's strength) and I believe this market won't stop rising until it reaches 1.14 (a 100% size of the...
CADJPY has bounced off of the lower border of the upsloping channel to stage a large rally. Now it's hit the resistance coming from the lower border of the downsloping pitchfork, as well as the prior lows of Aug 24th. Given that, some correction back to 85 seems to be justified.
GBPJPY has taken out one swing high to the left, but failed, so far, to take out the second one. The down trend is very strong and I expect its continuation. The bullish price action we've been observing in recent days is corrective in nature, with a mild slope. We can easily expect this market to test its lower boundary once again.
AUDCAD may be worth looking to enter long close to the trendline. Unless the demand dries out, it may be heading for the parity.
As far as I can see it, EURAUD is about to complete a corrective rally. I find it very likely to give in under the pressure of resistance, which is spread horizontally at the level of prior lows. The rally is very steep, so it may be hard to maintain much longer, given the preceding down trend. I also find current strength of the EUR a little bit overstretched, as...
Unless this bounce off of the lower median line parallel fails, the gold/euro exchange rate may still have a potential to reach 1030. It looks to me like the price is going to make another rally before it abandons the up fork altogether. So I remain bullish about it.
GOLD/EURO very oversold, at the potential support. Is it about to find some bottom or continue even lower? A week ago it was one of the strongest markets trending up! Incredible!
If this pair fails to close above the upper MLH, I'd expect a move a down. A declining MLH, coupled with the horizontal resistance from the range to the left may be a strong enough force to start a more pronounced correction to the downside.
NZDUSD may be on its way down to the upper MLH, but as soon as it is reached I expect a bounce and another move up to 0.6779. This currency pair is in a relatively strong up trend, currently oversold, so a bounce off of 0.66666 and a subsequent trend resumption seems to me to be very likely. ----------- Disclaimer: There is a very high degree of risk involved in...
GBPNZD may be in the process of shifting channels - from the blue one to the pink or red one. I'll looking for support around 2.40. The up trend's been losing steam, but the odds are still with the buyers. The GBP is still stronger than the NZD. The last swing down consists of many small overlapping swings, which seems to reflect the recurring efforts of buyers to...
I think this market is going to make another rally and hit 1.79 once again. The EUR is still relatively strong and the NZD is the weakest one of the majors. The pair's been showing some signs of weakness though, as the resistance at 1.8 proved to be very strong indeed, not allowing price to penetrate this level. Caught in a range, it seems to be drifting to the...
Now that we're again at the trendline, can we expect the price to bounce off of it again? And can we not? The euro is still one of the strongest currencies, whereas the CAD is relatively weak. The trendline provides an opportunity of fresh entries for buyers. As the rule says, the trendline always works until... it doesn't. Or in other words, beat the trendline to...
Gold has strengthened against most currencies, following the Fed interest rate decision. The rally against the USD has been particularly impressive, given the US dollar's weakness in response to the "no-rate-hike" decision. Now, I wonder, if we're going to see a correction down to 1125 or is it going to be a short breather, before price of XAUUSD continues higher...
NZDJPY - a current combination of the weakest and the strongest currencies, has been trading in a range, an energy coil, as if gathering energy for another big move. The trend is clearly down, but it seems to be trapped between support and resistance; also sort of lame due to the apprehension that can be felt in anticipation of the late Thursday Fed interest rate...
This recent rally, being actually a pullback in a bearish trend, has been pretty strong. On its way up price has managed to stack the range of 94 pips twice on each other. But the most recent price action has shown some weakness. The failure of price to reach the upper border of the blue channel is the information that the rally has decelarated and it's also the...