Technical outlook: Bearish - Price exhausted at 0.99800 handle - Rising wedge indicating impending bearish reversal - Dollar weak and currently technically structured lower
Technical outlook: Bearish - Multiple rejections of daily resistance suggests bearish momentum may resume - Price may re visit yearly lows at 0.7045 handle - Initial USD weakness may see a retest of daily resistance prior to resuming downtrend
Technical outlook: Bearish - Price exhausted at trend line resistance, retained within current bearish channel pattern - 1.30 retracement level targeted (psychological, FR 38.2 from 1 Oct run, FR 61.8 from 16 Oct) - Dollar weak and currently technically structured lower
Technical Outlook: Mixed/Bullish - Confluent support found at 112 zone and March 18 trendline - Subsequent to the counter trend line break, price is now positioned for the next bull leg up to 113 zone - Price remains contained within bull channel and likely to continue past October highs (114.55)
Technical outlook: Bullish - Reversal off trendline support strengthening the dependability of the bullish triangle pattern. - Price anticipated a leg higher this week toward the 1.3250 zone - Dollar weak and currently technically structured lower
Technical Outlook: Mixed/Bullish - Reversal off key trendline support creating double bottom pattern - Price will need to break 1.1530 zone with momentum to avoid leg lower toward 1.1440 zone and 1.1330 (fib 1.27 extension level) - Dollar weak and currently technically structured lower
Technical Outlook: Bearish - Reversal off trendline resistance and 96 psychological level - Price will likely either consolidate or re test the 96 level prior to bearish continuation - Dollar likely driven higher due to preemptive positioning and/or short covering ahead of the FOMC minutes this week (hawkish revisions) in addition to EUR & GBP weakness (Conte...
Pending long: USDJPY - CTL break + reversal off TL support
- Price action pullback to key support turned resistance - Wedge pattern suggests bearish continuation - 50 fib retracement confirmed - 1hr re test of the outside wedge for short entry
Price action has now broken trend line, and reversed off the December 2016 bull trend line (daily doji reversal). 1.1615 - 1.1620 resistance zone will act as the initial target (50% fib retracement). Long position will be entered on pullback to 1.1510 support level.
As previously posted, our EURJPY trade has hit our target to the tee, we now look for long positions upon counter trend line break. We have also picked up an elliott wave pattern for a fifth wave in the formation and have highlighted a potential corrective wave upon pattern completion.
Technical analysis: Subsequent to price rejecting the 133 handle (bear engulfing PA), price aims toward the immediate 131 zone of support and bull trend line. We see two trading opportunities in this case, the immediate short to these support levels and the following CTL break for a long play back to the 133 handle. Note: we note Friday's daily close is a bull...
Technical analysis: Subsequent to failing to swing higher past the 1.18 level and price breaking the upward trend line post 1.1750 zone consolidation, we anticipate a minor retest of the 1.1650 zone (intra-day) prior to a bear continuation with a target of the early September lows of the 1.1530 zone. On a daily timeframe, excluding the mid-August dip and...
Price action has now broken counter trend line & reversed off Jan bear trend line, continuing in the direction of longer term trend. Entry for a short swing & trend continuation position upon PA pullback to 0.7225 zone.
Price action continues to reject 72.70 handle prompting short position (corrective leg) back to two key levels: 70.25 (initial TP) & 67.07 (secondary TP), prior to trend continuation.
Price action has now broken out of September bull run and has consolidated below fresh yearly high resistance levels - retracement anticipated.
Price action rejecting key level of horizontal and trend line resistance. While consolidative, price should continue in downtrend.
Trade points: Macro - Trade will likely be influenced by impending FOMC comments and may breakout/reverse outside of current range - Ongoing trade war comments & advancements Technical - 4hr candlestick confirmation required (close past CTL) - EMA crossover