The 1D Channel Up broke to the downside (Highs/Lows = -1.2329, B/BP = -1.8920) but managed to find enough support (RSI = 47.344, MACD = 0.570) for the moment near 70.50, which has high importance as a mark. First, it is the Higher Low supporting trend-line on 1D and second the 0.500 Fibonacci level. Our long term TP for USOIL remains 77.60, additional long taken...
The 1W Channel Down (RSI = 36.444, MACD = -236.700, Highs/Lows = -537.4643, B/BP = -1239.0620) eventually broke the 11,725.30 support and led DAX near its Monthly support zone of 11,200 - 11,400. Those levels are also a potential Higher Low array on the long term 1M (monthly) Channel Up (RSI = 45.274, MACD = 241.600) that started in March 2009. A moderate medium...
The index aggressively crossed the 1W Channel Up to the downside last week (RSI = 36.642, MACD = -236.100, Highs/Lows = -527.9643, B/BP = -1241.7760) presenting the first such correction on S&P since March. I has however found support near the 0.618 Fibonacci retracement level on 1M (monthly). Also the Monthly Higher Low supporting line is just below, indicating...
The long term bearish trend on 1W broke last week to neutral grounds (RSI = 47.647, MACD = -20.230, Highs/Lows = 12.0065) as the global stock markets pulled back and capital abandoned riskier assets towards Gold's safety. Technically 1D is a Channel Up (RSI = 65.112, MACD = 5.900, Highs/Lows = 22.9186, B/BP = 34.8019) but we can't assume yet that this uptrend is...
TP = 6,300 hit before today's extremely bullish fundamental spike broke every 1D bearish barrier on BTC and even crossed the 1W Lower High = 7,410.3 made in September. With a High so far at 7,704.20, the 1W candle has exceeded +20%, the strongest (though still early) since February. 1D is already overbought (STOCHRSI = 100.00, Williams = -12.030, CCI = 286.1593)...
The previous TP = 283.20 on USDHUF was hit and the pair has been trading sideways since within a 273.754 - 285.075 1W Rectangle (ADX = 17.489, Williams = -49.968, Highs/Lows = 0.0000). The most optimal approach is to long near the 273.754 Support (TP = 283.268) and short near the 285.075 Resistance (TP = 275.110).
Both TP =574.20 & 588.20 hit as the 1W Channel Up (MACD = 9.620, B/BP = 0.3280) made a 598.40 Higher High. It has since pulled back to make a Higher Low, which was most likely priced at 498.20. This commodity (Hard Red Winter Wheat) is on a very long term uptrend and we are now holding a long with TP = 569, 598 in extension.
TP = 11.7644 hit as the 11.4900 1W Support held, pushing the price to a new High. GBPSEK has now priced an even Higher High on this curve pattern, near the 12.1519 Resistance. 1W STOCH = 44.256 and the marginal Highs/Lows = 0.1156 suggest that a gap lower exists. Trade accordingly towards the two support levels.
NZDSEK made a Lower Low on the 1W Channel Down (RSI = 39.460, MACD = -0.025, Highs/Lows = -0.0723) slightly lower than its bands suggested but it still rebounded. On a 1D basis it will face significant Resistance at 5.9440 but if broken, should extend for the full 1W Lower High near 6.050.
TP = 0.84500 hit as the 1D Channel Down (RSI = 42.903) made a new Lower Low at 0.8324. With the 1W Channel Down intact (MACD = -0.015, Highs/Lows = -0.0163, B/BP = -0.0485), NZDCAD should rebound for a Lower High either at 0.85500 (1D Lower High - more likely) or 0.87500 (1W Lower High - less likely). Both are solid long term short entries. We will be taking those...
TP = 14.41427 hit as the 1W Channel Up (RSI = 56.437, MACD = 0.090, B/BP = 0.2883) rose to a 14.6150 Higher High. The price has since pulled back in order to price a new Lower Low, which should be near 14.200 (Highs/Lows = 0.0000). We will be going long on HKDJPY with TP = 14.600.
Omisego remains neutral both on 4H (RSI = 50.314, Highs/Lows = 0.0000) and 1D (RSI = 47.725, Highs/Lows = 0.0000) as it approaches the 1W Channel Down limitation. It will either be rejected towards 2.000 or bounce to the 0.500 - 0.618 Fibonacci retracement level. In both cases 1W is a strong sell (MACD = -2.179, Highs/Lows = -0.6889, B/BP = -28843) and should make...
DOGE is extending the recently emerged 1D Channel Down, declining but on a very low gradient (RSI = 51.012, STOCH = 27.092, Williams = -71.429). The bearish trend should be a very long process, unlike the aggressive rise of September. It does remain bearish though on the long term based on the recurring 1W patterns. Our short position on DOGEUSD is intact with TP = 0.0045.
The Binance Coin is trading just below the 10.66 1D Resistance which was marginally broken but appears to be rejecting the uptrend since (RSI = 51.974, Highs/Lows = 0.0000). If this is considered a Lower High on the 1W Channel (MACD = -0.305, Highs/Lows = 0.0000, B/BP = -1.3464) then a Channel Down should emerge towards the two support levels: 8.8857 and 8.2522....
NEM is following a Channel Down pattern on 1D with distinct Lower Highs and Lower Lows that has just made its latest Lower High (RSI = 54.758, Highs/Lows = 0.0000). Technically and always according to the underlying selling pressure applied by the 1W bearish trend (MACD = -0.081, Highs/Lows = -0.0056, B/BP = -0.0439), we should see a Lower Low on XEMUSD near...
Ethereum Classic is on a declining course on 1D (RSI = 41.548, MACD = -0.212, Highs/Lows = -0.0874, B/BP = -0.3829) with two Channel Down possibilities arising, one more aggressive than then other. If the price is rejected on the next 1D candle, then ETC will follow a more aggressive Channel Down that has the potential to cross even the support of the 1W Falling...
DASH has been trading lower after it broke the 1D Triangle (RSI = 42.214, MACD = -1.620, Highs/Lows = -2.9646, B/BP = -8.4359). The Lower High on the 1W Channel Down (MACD = -79.120) has already been made last week and as a Channel Down on 1D is emerging, the first support at 175.000 is being put to a test. This is expected to break fairly easily as 166.683 is the...
NEO has now exhausted the 1D Triangle's bands (MACD = -0.190, B/BP = -0.2168) as it touched the Lower High resisting line of the 1W Channel Down (RSI = 37.207, MACD = -11.878, Highs/Lows = -2.4020). A Channel Down on 1D is expected to emerge on a gradual pace and accelerated if the 13.55 support breaks. As a result we are keeping our short on NEOUSD with TP = 8.78.