InvestingScope

InvestingScope

Based on their correlation since 2002 we can say that EURUSD is a leading indicator for Copper. Especially since 2010, they both trade within a 1M Channel Down, with EURUSD however respecting the Lower Highs/ Lower Lows more. So with EURUSD on a long term bearish trend towards the 1.0358 support, we expect 2.000 long term for Copper. Technically Copper's 1M is on...

InvestingScope

What we should mostly focus on in this chart is the pattern of Bitcoin's Bull Cycles. Those have started with very sharp bull runs but decrease each time as BTC becomes asymptotic (diminishing returns). As for the Bear Cycles, although they started as sharply as the bull runs, they tend to stabilize and follow an identical structure. Applying the decelerating...

InvestingScope

The price is currently near the peak of an overbought 4H Channel Up (RSI = 76.597, STOCHRSI = 99.117) which is the Higher High extension of the 1D Channel Up (RSI = 69.418, MACD = 1.160, Highs/Lows = 1.8686, B/BP = 3.5340). The Higher High zone is inside 60.00 - 60.70 and as soon as it is priced, the 1D Channel Down should pull back to meet the inner (4H) support...

InvestingScope

Canopy Growth Corporation is on strong long term bullish price action both on 1W (RSI = 58.856, MACD = 4.873, Highs/Lows = 2.6189) and 1M (RSI = 66.122, MACD = 12.099, Highs/Lows = 7.3414). Since mid 2017 in particular, it has been trading on Higher Lows reaching +1000% in growth. Using the Pitchfork to identify the pressure zone, we estimate that the asset is...

InvestingScope

The MA200 is about to cross with the MA20 while the price has crossed the MA20 for the 4th time since the All Time Highs. The previous 3 times all resulted into a new Bottom. Will the MA200/ MA20 cross mark the end of those rejections and the bear market as a result? Similar studies: ** If you like our free content follow our profile...

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The price has entered the Lower High zone of the 1D Channe Down (RSI = 52.750, MACD = -0.002, Highs/Lows = 0.0004) and according to the inner/ outer sell trend lines, two short entries stand out: 1.13500, 1.13850. Based on the long term trend of this channel, the price should now reverse towards a new Lower Low below 1.12000. It is best however to structure a...

InvestingScope

Natural Gas is so far respecting the 2.530 support on 1W and since last month's bottom has been developing a bullish sequence on 1D (STOCHRSI = 75.364, ADX = 37.193, B/BP = 0.0580). Since it is still largely neutral (RSI = 52.420, Highs/Lows = 0.0000) there will be another chance to buy, for those who missed it, with a pull back within 2.750 - 2.700. Our target is...

InvestingScope

The Gold price has been very volatile this week (ATR = 4.4243) making Higher Highs and Higher Lows on 4H (RSI = 55.47, MACD = 1.390, Highs/Lows = 0.0000) as geopolitical factors (Brexit) and fundamentals (BoJ, U.S. reports) having been offsetting each other. The pattern that stands out from previous 4H sequences is that the 0.5 - 0.618 Fibonacci retracement levels...

InvestingScope

The pair is on a long term 1M Channel Down (RSI = 46.346, MACD = -0.067, Highs/Lows = -0.0252), which is trading on its inner resisting trend line. This 1W Resistance is waving a short flag (RSI = 47.484, MACD = -0.125, Highs/Lows = 0.0000) here and we are taking this long term short with TP = 16.420. ** If you like our free content follow our profile...

InvestingScope

The pair is on a strong long term Channel Up on 1W (RSI = 56.469, MACD = 0.047) trading on its Higher Low zone (Highs/Lows = 0.0000). Naturally, 1D is now neutral (RSI = 51.144, Highs/Lows = 0.0000), trading on its own Channel Up Higher Low, pricing a break upwards. The latter gives a buy signal with TP = 6.7000 (Higher High). The 1W Channel Up gives a buy signal...

InvestingScope

The price is trading on a 1D Channel Up (RSI @ 61.767, MACD @ 0.035), which has made this week a Higher Low (Highs/Lows @ 0.0000). The next Higher High is expected on a +8% rise but we are taking a more conservative target. TP = 3.03455. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes...

InvestingScope

The dominant long term pattern on USDMXN is a Triangle on 1M (total neutrality with RSI = 52.546, ADX = 27.968, Highs/Lows = 0.0000). 1D is on a Higher Lows sequence, which this 1M Triangle has show that it leads to a bullish break out. We are long with TP = 20.25000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily...

InvestingScope

The pair is trading on a long term Channel Down pattern on 1M which since February is trading sideways near the Lower High zone (RSI = 49.216, STOCH = 53.334, Williams = -48.705, CCI = 3.1294, Highs/Lows = 0.0000). This is a long term bearish signal and we are taking this on a double target, TP1 = 0.73200, TP2 = 0.72245. ** If you like our free content follow...

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The index is still on a long term recovery within the 1D Channel Up (RSI = 58.547, MACD = 106.300, Highs/Lows = 0.0000). This time however 4H is on a Lower High sequence with 11,400 supporting this fragile set up. With the price already rejected just below the 11,686 - 11,838 1W Resistance Zone, we are expecting a stronger correction if 11,400 breaks. TP1 =...

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XRP is posting a consolidation pattern similar with the 2015 - 2016 candle sequence, after which the 2017 bull market took place. Assuming the duration is the same and distance from the High to the break-out of the consolidation is 812 days, we can expect the new bull market to start on May 2020. The conclusion is that at the moment we are on an accumulation phase...

InvestingScope

This pair is trading on a 1W Channel Up (RSI = 56.066, MACD = 0.088, Highs/Lows = 0.0000) which is currently struggling to get past 8.8277. The danger of creating a Double Top rejection is valid and since we are inside the 1W Resistance Zone, long term investors should start considering a short. However until the Channel Up breaks we are targeting 8.8277 and...

InvestingScope

Gold has found support last Thursday and the decline on 1D is put to a halt. 4H is now neutral (RSI = 51.980, Highs/Lows = 0.0000, STOCH = 53.271) and will continue to be as long as the price is being traded inside the consolidation channel shown on the chart. As long as this continues to provide support, and it later breaks upwards, we will be targeting 1,330 and...

InvestingScope

The pair is trading within a 1D Channel Up (RSI = 52.233, MACD = 0.004, Highs/Lows = 0.0000). The candle sequence is repetitive inside the pattern and that allows us to make the estimate that the price will rebound on that (inner) Higher Low (maybe a near double bottom) towards a new Higher High. TP1 = 1.9600, TP2 = 1.9800. ** If you like our free content...