AUDUSD has shown some weakness in that it failed to reach the Median Line (ML) of the blue pitchfork. That's why I expect it to fall to the most outer sliding parallel. This is where I'll be watching if market finds support and presents a new entry opportunity to go long. The AUD is still quite strong, although it's getting neutral and oversold, whereas the USD is...
If EURUSD continues rising above 1.15, it will mean it's bullish indeed, taking out the second major high. In this scenario we can expect price to retrace by 38.2% of the nine-month decline. On the other hand, this market may find strong resistance at the upper median line parallel, and give in just below this second major high. The odds are with the buyers, as...
I expect further correction to the downside. The NZD has been getting stronger in recent hours. Is it going to have strength enough for another corrective wave against the euro? I think so. Price is being rejected above 1.5279. So a short trade with a target above prior lows seems to be a low-risk idea, unless the EUR gets abother boost of power...
USDCAD seems to be in the process of doubling the range. Here's why: 1) the CAD has been the strongest currency, whereas the USD - one of the weakest in recent days, 2) every next correction (move up) was smaller than the preceding one - weak demand, while the swings down get bigger, 3) market seems unlikely to stop and reverse in the middle of nowhere - it's...
Price broke out of the middle channel of the broad triple-channel formation. The down trend has weakened as bulls have taken control. I find it likely to see price reach the outer border of the upper channel. That's where we may expect some horizontal resistance, as in down trends supply usually waits around the prior swing highs. Price has been rallying for some...
This has been a very nice rally. Market has just found support at the prior high and the median line. However, given the long-term context of a down trend, I expect a further decline - at least a retracement of 23.6%.
If price finds resistance at the downsloping median line (as it often does), I expect a further decline towards the prior lows at 1.311. Otherwise price is going to test the prior lows at 1.3242. The EUR is very weak, whereas the CAD has grown recently to be the strongest currency of all.
New shorting opportunities may arise, if price finds resistance right after the breakout from the bearish channel it's been following since early Feb. The euro has been the weakest currency since the beginning of this year and the kiwi the strongest one since last Friday, when the US dollar weakened. The EUR is getting overbought, so betting on its weakness...
After a long rally CADCHF has finally found dome support at the median line of a downsloping pitchfork. The Swiss franc is no longer as strong as it used to be in the second half of January, but the CAD remains relatively weak. It looks to me like this market could do with a bit of correction: probably down to 0.77, but if it gathers bearish momentum, it might go...
Here's the common slope (an up slope) that price has been conforming to (on weekly bars) in recent years. How come even the surprise SNB decision stopped the price exactly at the point (in price & time), where the up slope was marking the resistance? Next? Well, even though the USD is one of the strongest currencies, the CHF is even a stronger one, so I can't help...
The SNB, or the Swiss Negative Balance, event has left the ccy markets shaky und unstable. The NFA delayed decision to hike the margin requirements has probably stifled volume in the CHF markets, which is expressed in a lower price range. Notwithstanding that, CADCHF is in one of the strongest down trends of all the majors and is in the process of making a...
This currency pair has been following the downsloping channel and has reached its median line. However, it doesn't seem to be done falling. I think we're going to see it decline down to new lows well below 0.7 level. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or...
Now that EURCHF is free again, it may be heading for 0.9 or even for the lower border of the channel. Currently - the strongest trend of all the majors. The old down trend resumed. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted...
As the sloped support gave way, price seems to be headed towards the lower borders of the red channel. A retest of 1.5 is very likely. The EUR has been the weakest currency recently (even weaker than the AUD), whereas the NZD is the strongest one. The momentum still favors short positions. ----------- Disclaimer: There is a very high degree of risk involved in...
The currency pair currently in one of the strongest trends. Very likely to reach the sliding parallel (SP) at about 1.16, and then perhaps 1.11 as well. This market may soon retrace to the large-scale 61.8% level. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or...
AUDNZD has been following (very nicely) the dark blue up fork during its recent correction. If this correction is about to complete, price may return to the pervasive down trend and dive not only to reach the bull trend line (at about 1.0452-1.0454, i.e., Ret-0.528), but also get deeper (to Ret-0.764, at about 1.0436). The aussie continues being the weakest major...
I find this pair being in the process of completing a strong correction, as it is probably about to reverse at the median line of the channel, which would coincide with Ret-23.6%. The aussie has been showing a lot of strength in recent hours and it's pretty overbought now. The swissy, just the opposite, has been weak and reached oversold levels. So a new downward...
Clearly the strongest trend in fx majors now. The AUD is getting overbought, so another leg down is likely to develop. Is the 0.8 level going to be hit? Well, I don't know, but 0.805 is possible, if bearish momentum grows. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading...