S&P500 is trading within a Triangle on the 4H chart (RSI = 53.651, MACD = -10.000, ADX = 26.709). The price is now testing the 4H MA50 and if broken we expect it to reach the Lower High trend-line. The RSI broke above a 20 day bearish trend-line so we are expecting a break above the Triangle towards the 3,168 Resistance. ** If you like our free content follow...
EURUSD is trading on a medium-term Channel Down on the 4H chart (RSI = 46.504, MACD = 0.000, ADX = 23.436). After making a new Lower High (red arrow), it broke the dashed Higher Low trend-line confirming the tendency to make a new Lower Low. Be mindful though for a reversal on the 4H MA200. If it doesn't happen, we expect a Lower Low near 1.11000. ** If you...
Gold is on a Bearish Megaphone pattern on the 1H chart (RSI = 56.741, MACD = 0.270, ADX = 27.361) with 1,776 the Resistance and 1,764.30 the Support. It just got rejected near the Resistance so we are expecting a decline back at least to the Support. Watch the 1H MA200 for a bottom as last time it held and gave way to a strong rise. If broken, look for the Higher...
Natural Gas is trading within a Channel Down (on the log scale) on the 1W chart (RSI = 45.584, MACD = -0.111, ADX = 31.401) since 2009. This pattern provides very accurate Cycles, bullish when a Lower Low is made (green arrows) and bearish when a Lower High is made (red arrows). At the moment the price has just made contact with the Lower Low trend-line, making...
EURUSD has formed the first Golden Cross (1D MA50 crossing above the 1D MA200) since May 2017. With the 1D chart neutral (RSI = 53.756, MACD = 0.005, ADX = 23.279), the current technical candle framework appears to be similar to that of the last Golden Cross. Right now EURUSD is still within its 2 year bearish trend (Channel Down pattern) but if this Resistance...
GBPUSD is trading within a +2 year Bearish Megaphone and since April 15th has had a double rejection on the 1D MA200 (RSI = 47.993, MACD = 0.001, ADX = 26.766). Even though the 1D technical action is neutral, this is not an encouraging development and since the 1D RSI can't get past the 5 month Resistance Zone, we are taking this as a bearish signal. Our medium...
EURNZD has been trading inside a Channel Up on the 1W chart since late 2012 (RSI = 54.285, MACD = 0.025, ADX = 24.737). In late March 2020 the pattern made its Higher High and has been declining since. The MACD is making a bearish cross-over so we will be taking this opportunity to go short. Our Target Zone is as seen on the chart. Recent signal: ** If you...
The pair is on a strong bullish leg since the March 19th bottom on the 1D chart (RSI = 68.147, MACD = 0.007, ADX = 52.319). However on the wider 2 year scale this is just the Lower High leg within a long term Channel Down. This bullish leg pushed the 1D RSI inside the Resistance Zone (which always delivers a drop) for the first time since September 2019. This is a...
Safehold Inc is trading on a long term bullish Megaphone that is intact even during this pandemic crisis. It appears that the stock is surviving the market swings within a standard (but of course volatile) Triangle on the 1D chart (RSI = 48.416, MACD = -0.300, ADX = 28.460, CCI = -1.2586). Since the start of 2019, each time the RSI hit the 35.00 level, a new Bull...
The pair is trading near the 115.830 Support and as seen on the chart has bounced within the green zone 4 times already since March 9th. This keeps the 1D chart bearish but more towards the neutral zone (RSI = 39.014, MACD = -0.520, ADX = 45.239) indicating that we are near a Support. The price is under a Lower High trend-line since the January High, so we will...
DAX is trading within a Rising Wedge on the 4H chart which started on March 23rd when the previous bottom was made. Despite the fact that today it broke the Higher Low trend line, the technical indicators are neutral (RSI = 45.750, MACD = 8.800, ADX = 19.431) as the Support Zone hasn't been broken yet (10,225 - 10,165) and the 4H MA50 is intact since March 24th....
USDJPY is trading within a Channel Down since the start of 2017. So far it has made 3 clear Lower Highs and 2 Lower Lows. We are expecting on the long term to attempt the third Lower Low. So far the price is borderline neutral on the 1D chart (RSI = 45.445, MACD = -0.200, ADX = 32.097), a Death Cross is close to taking place (when the MA50 crosses below the MA200)...
The pair turned lower again after getting rejected on the 4H MA200 and as long as this holds as Resistance it will remain bearish. Based on our latest trading plan, the 1.06500 Target is still intact: The bearish trend will be enhanced if the 4H MA50 holds but if broken we expect a minor rise to the MA200 and then back below 1.0800 again. Short term Buy/ Sell...
Oil is trading sideways on the 1H chart (RSI = 47.613, MACD = -0.080, ADX = 28.589) as it is consolidating on the 19.20 Support. The MACD on the 4H chart just made a bullish cross and if the sequence of March 31 is repeated then we can have a rebound towards the 29.20 Resistance. That would however break the 4H MA200 (orange trend line) which hasn't been testes...
The pair is trading within a Bearish Megaphone on the 1W chart (RSI = 36.000, MACD = -0.990, ADX = 37.728) since the January 2018 High. At the moment it is consolidating below the 0.382 Fibonacci retracement level following the Lower Lowe made in early March. You can see that every Lower High made after a Lower Low, broke the 1W MA200 (orange trend line) and...
On our last trading set-up we mentioned the potential that the Channel Down could be wider and since the 4H MA50 broke, the pattern would fill in a Lower High near the 0.618 Fibonacci retracement: Right now we use the 1D chart (RSI = 52.588, MACD = -25.640, ADX = 24.177) and see that the recent stochastic run is being exhausted (STOCH = 83.359, STOCHRSI =...
XAUUSD is trading within the Bullish Leg (black channel) of a Channel Up pattern. This bullish leg is essentially a Channel Up on the 4H chart of its own (RSI = 67.955, MACD = 21.920, ADX = 58.206) and until it breaks we can't consider selling and of course neither buying as we are on a Higher High. Technically once this Channel breaks into the green Triangle...
The pair is on a 1W pull back (RSI = 59.803, MACD = 0.022, ADX = 45.865) following its rejection near the 1.4700 Symmetrical Resistance. The pattern is similar to that of early 2016 when after a rejection on the 1W Symmetrical Resistance, the price was sold-off aggressively and found a bottom on the 1.24700 Symmetrical Support. We are expecting a similar...