I think AUDCAD is about to complete the recent advance, whose overlapping swings indicate it's been corrective in nature. Price has been oscillating in an upsloping ideal channel, until several hours ago the channel was broken with a decisive bearish candle. In horizontal terms we can also see the recent price action has been developing in two equal ranges; given...
I expect a resumption of the down trend in AUDJPY. First a return to 84, next we'll see. For the last two weeks the AUD has been the weakest currency of the majors, while the JPY the strongest one. The recent correction was developing in lockstep with the equity markets, as AUDJPY often does. It's been a nice pullback presenting some shorting...
The S&P's price wasn't admitted back to the blue fork, which means the bearish trend is quite strong. It has also failed to reach the red median line nor 38.2% of the prior swing's down, which adds evidence to the bearish scenario. If it keeps climbing higher though, I'd expect a bounce off of the red upper median line parallel. ----------- Disclaimer: There is a...
EURUSD has been falling down as fast as it was going up. Currently it's sitting at an inflection point: if it continues lower, it will probably break through the 1.1 level and test the lower border of the channel. However the support coming from two intersecting trendlines, after some vacillations, may give it at least a temporary stop, allowing for some...
It's been a huge correction, retracing 52,8% of entire move down. Now, let's see, if resistance at the lower median line parallel holds. If it does, I'd expect a decline at least down to 1950. If it fails, and price zooms through 2000, it may go up to the very median line, ie. 2040. ----------- Disclaimer: There is a very high degree of risk involved in trading...
AUDJPY has just failed to make new minor lows. Is it a failure that would result in a breakout to the upside or just a pause before it resume downwards? I subscribe to the latter option: the downtrend is strong and its coninuation hasn't retraced by 61.8% yet. The JPY is the strongest currency, while the AUD is the weakest one. So, I believe good shorting...
Just based on the size of the prior four corrections we may assume that the ongoing one will probably die out between where it is now and the 1.073 level. Next, unless no new buyers show up, I expect a rebound back up to the 1.08 area.
So, price broke out and up it went to test the prior high at 1.08. The EUR is still strong, and the CHF is relatively weak. The up trend is expected to continue for some time following the regular blue fork. The correction may get a bit deeper, but I still believe this market is on its way to test the pink resistance level of 1.08. ----------- Disclaimer: There is...
Another correction can stretch down to 1.48 area - that's where the best buying opportunities may develop. Until then I'll be waiting mostly on the sidelines, with the exception of the 1.50-level, which may attract some buyers, The EUR is the strongest currency now, while the AUD - the weakest one, so the EUR/AUD's trend is up and pretty strong at that.
The down trend is very strong, so I keeping looking for an opportunity to go short. I believe that this low of the wide range bar is going to be retested next week. I also believe that gold is not done falling until its 'final' low is immediately rejected at new levels by strong buying & profit taking. ----------- Disclaimer: There is a very high degree of risk...
GBPNZD is finally likely to find bottom at the lower border of the channel. The GBP has been the strongest currency, while the NZD - the weakest. The up trend is very strong and I expect it to continue at least to about 1.2842.
Give me just another bare shadow (wick) of a candlestick (for an entry), and we should see the price go down again to test the middle line of the channel. The NZD is the weakest currency and the JPY is not particularly strong either. But the market is trading at very low levels compared to what we saw in early June, so the trend is clearly down. I'm bearish here.
I believe another swing up is in the offing. The trend is up - the bulls haven't stop their dance yet. The GBP is the strongest currency, whilst the NZD - the weakest. This channel roughly ilustrates the recent price action.
It's a pretty strong bear market here. Short positions are still favored, esp. if we see another "pin bar".
This pair has been trending up within a channel. Its slope is quite benign, but up for sure. :-) The pair is also in a long-term up trend. The euro is the strongest currency, whereas the aussie - one of the weakest. So it should work. However, if failed, a breakout from the channel would bring the pair down to the 1.444 area. The best of luck to all of you!
The GBP is the strongest currency of all the majors, although the CHF is not particularly weak. But the GBPCHF pair has confirmed, with its low on May 19th, that it's following this up sloping fork. Short-term it's showing a robust up trend. If momentum is maintained, price is likely to reach the upper median line parallel (a continuation of an Andrews'...
The AUDNZD pair keeps moving in horizontal ranges while advancing higher within a channel. It looks like another leg up may be in the making. First, probably toward the resistance around the 0.8 level. The AUD is still relatively strong (on the verge of being neutral though), while the NZD is the weakest currency of all the majors.
The GBP is still strong (long-term), it's getting oversold, so its recent weakness should be overcome soon. The NZD remains the weakest currency and is overbought. The GBPNZD pair is in a strong short-term up trend, likely to find support at current levels and continue higher. The caveat - in the long-term, the pair is trading in a range, found resistance at...