EURUSD had a bumpy ride last week with a very interesting turning point. Let's have a short review: lower than expected German ZEW, Euro touched a new low in the beginning of the week, but gained all and even broke 1.37 barrier. This rally was mainly triggered by the very good flash manufacturing and services PMIs and low US economic data. Nice, but look on this...
I see that there are some bearish signals, from the Shooting Star, candlestick pattern, to the negative divergence. A drop under the local support could confirm this theory. I am waiting with a sell stop just bellow.
The EurUsd finally draw something a chartist can use. A rising Channel with a pretty interesting middle line (nice future from TradingView). A break above 1.3560 would signal another retest on 3580, while a break bellow this trend's line would be a bearish signal and the first target for a fall could be 1.3500.
Loos very nice, doesn't it? At this point I am pretty tempted to think that EURUSD is going to confirm this Double Bottom pattern which could signal a rally. BUT, I will not be surprised if the price will make a false breakout, followed by a fall, will just have to wait for the proper signal.
This pattern is not that often met on the charts, but it gives pretty nice signals. An Inverted Head and Shoulders on the rising trend means that there is a high probability for the trend to continue. A break above the pattern's neckline could trigger another rally for the US dollar, targeting the 105.40 high or why not even go further to the full target at 106.81...
Wohoo! Nice Shooting Star there. Created on high volume, in a new price high. Divergence on the 24 RSI...a lot of good signals to short. I am aiming for 86.70 at least.
The short term tendency remains bearish, but I thing that the Euro really struggles. A Falling Wedge started to emerge but bulls will need a strong signal to start buying the single currency, Next week's highlights could be the German ZEW economic sentiment and Flash PMI for the Manufacturing sector, in what concerns the Euro Area and the Housing Starts and...
DAX30 seems to be signaling short. I don't have big expectations, but I believe that the price could touch 9612. You can see the full analysis of this chart on www.investazor.com
The price just broke a Broadening Wedge. If we take into consideration what the theory is telling us, after a close (on a 60 min. chart) under the lower line we should expect a 0.38% drop all the way to the 1.3545 support are.
I would say that the price of Gold is now under some bearish pressure. The Dollar is gaining and the technical reasons are already here. Trend line broken in 14th of January, RSI pushing on its trend line and the 50 level. A break under 1234.04 would give a higher probability for a drop.
As I said yesterday in my analysis, 1.3630 was a good support area. This bounce my end up testing the next good resistance at 1.3720, especially if this hourly close will be above 1.3685.
Looks pretty nice, even though it is in a range. If this proves to be a continuation pattern then a break above the local resistance could trigger a rally to 1.3720 or higher. On the other hand, a drop under 1.3654 support could mean that the bears are pressuring for a retest on 1.3630/10
From July 2013 to present the price of Apple's share has drawn a beautiful 4 wave pattern. Going with Elliott's Wave Theory we can expect for the price to draw another up move wave - the 5th one. At 525$ the price met a pretty good support area which might be good enough to create a bounce. A daily close under the trend line or the 100 EMA could be a negative...
After a bumpy week the Euro managed to gain in front of the US dollar. The Non-Farm Payrolls dissapointed the markets with a 74K reading and send the EURUSD to 1.3675 resistance. On the 60 min. chart we can see that the price ha moved lst week between 1.3675 and 1.4560. Now there is a small Pennant right under the Key Resistance. If the price will break up then I...
The signals are pretty bearish on the short run for the EURUSD, from my objective opinion. meaning that another drop of the euro could be done near 1.3560 again. But my hunch tells me that it is a good chance for the Euro to break today 1.3630 and rally towards 1.3670/1.3700. We will have a better view near the NFP, and the best after the publication of this...
I am thinking of a short drop of the GBP to 1.6420. It met a good resistance area here and the RSI has drawn a pretty nice divergence. Only a close above 1.5475 would trigger a rally from my point if view.
These are some pretty interesting bearish signals. Shooting star on H1 (several minutes before confirmation), the price hit the resistance area and a trend line and the 28 periods RSI has his a resistance zone. I would say that it is quite probable to bounce back to 1.3580, at least. Only a close above 1.3630 would change my mind now.
The USD is forcing the upper line of the symmetrical triangle. An hourly close above, and especially above 105.00 could trigger a rally to 105.40. I would, though, be attentive at a false breakout. I saw USDCHF falling. If a false will be confirmed than i would expect a strengthen of the Japanese yen.