KOD is an abbreviated term for 'Kiss Of Death', against resistance that is. We'll see what happens! Happy Trading, folks! Cheers!
A steady increase of momentum is shown based on moving averages, which indicates that crude oil may be heading towards a break of the bullish channel. When it does, we could see another impulse move towards $77.
Today we have seen this pair push well below our trendline which indicates a lot of selling pressure from the bears. After yesterday's daily close (indecision) and today's rejection off of the low 1.1690, the scale slightly favors the bears. With that said, we are looking at the Bearish Gartley pattern. I don't trade these patterns often but feel free to correct...
On the chart, clearly, we've seen the break of the downtrend line. We are now seeing the euro pull back and whether it continues lower or it bounces off the trendline will come down to Draghi's speech today. Happy Trading, folks! Cheers!
Here we look at the USDJPY daily chart, and although it appears to have broken above the trendline, the RSI reading did not. The daily bullish candle could be an exhaustion bar, or it may not. Only time will tell. Happy Trading, folks! Cheers!
Honestly, I'm not sure what this means. Feel free to leave a comment below and let me know your thoughts. Happy Trading, folks! Cheers!
It took almost a whole week for this pair to fall. Which means buyers are still holding (in my opinion). We'll see if it breaks the trendline and continue higher. Happy Trading, folks! Cheers!
Lately, the Aussie Dollar has been picking up steam but came short as it hit the downtrend line. The rally on the Aussie may have been exhausted, or it could be taking a break. We'll wait to see what happens. Happy Trading, folks! Cheers!
Here we look at USDJPY on the weekly chart and notice how we have broken below the trend line. The question now is where is USDJPY heading from here? On a lower timeframe there is still bullish momentum pushing USDJPY higher. If for some reason may get a squeeze higher it'll probably halt at 113.00 level; Otherwise, it's going deep south!
Today we saw one of two things, a selloff on the dollar or profit taking. At the moment USD is resting on support trend line. However, on the daily candle (evening star), there's a possibility that starting next week we'll be seeing more of 'Redback' for King Dollar. Leave a comment below if you agree or disagree. Happy Trading, folks! Cheers!
Will the Euro continue higher? Or is this a false break of the trend line? Interesting to see how this week will play out. Happy Trading, folks! Cheers!
Yesterday president Trump tweeted his negotiation with King Salman of Saudi Arabia to increase oil production. Later we discovered that it was all a lie. So we take a look at the technicals and so far, momentum is quite bullish. It is so bullish it could reach $77 per barrel. But, we'll wait to see how the market reacts from that tweet. Happy Trading, folks! Cheers!
Here we see this pair breakout and shot up to the moon. As it gets closer to the breakout point, the question is will it bounce back up, or will it continue lower? Only time will tell. Happy Trading, folks! Cheers!
Planning for weeks ahead, we look at the technicals to anticipate where the market may be heading towards in the near future. In this weekly chart, we have seen the dollar failed to break above major resistance line. Although too early to say if it's heading lower, next week will give us a better look, or the following week. Happy Trading, folks! Cheers!
Crude oil continues to fall after we saw a squeeze over $70, the question is how low will it go? Today we look at the technicals and so far, still more downside to go. Combine with a monthly candle, the break of the downtrend line may be a false break, or it may not. Only time will tell... Happy Trading, folks! Cheers.
USDCAD walking on tight rope. It won't be long before we start to see those bears.
Dollar finds support at the 94.20 level. We should see a retest of the low and possibly bounce up for a retest of the high. Happy Trading, folks! Cheers!
EURUSD approaching what could be a strong confluence, resistance level. Would it be a bearish cypher pattern? Also 1.1730 level should complete the abcd from the low 1.1508. We'll see how the euro reacts when it gets near! Happy Trading, folks! Cheers!