Another interesting pattern has signaled an end of the correction. After the Island pattern, we can see now a symmetrical triangle, formed near the trend line and the lower line is in a very good demand zone. It was confirmed by a breakout over it's upper line. This might get the price back to the tops, especially that the triangles target is at 76.21. The...
Walt Disney's price chart looks bearish. The target of the triangle was hit right at the high point of the second rising wedge, marked with red on the chart. The volume has fallen during the formation of this last pattern. All this bearish signals are waiting for a confirmation in the price action. Targets for a possible fall are 52.50 and 46.66.
The price seems to be rejected again from the trend line. If it will go under the 1.2250 and close there then the outlook is quite negative. In this period the euro it is not bought. If this signals will be confirmed, then we might see a retest on the latest low.
A break over 1.0517 will get the price higher, first target at 1.0552 next at the resistance.
Looking at Apple's chart I've noticed a sudden fall in the volume on the second through. Putting the exhaustion gap, the volume and the resistance zone all together we might get a nice reversal pattern, Double Bottom. A very interesting pattern would be an Island. A gap over the resistance zone would create such price formation. If this theory will be confirmed,...
This chart looks so nice. The support zone at 94.90/95.00 it is very good, if the price will fall under, then we might see the Australian dollar at 91.27 with the Japanese yen (near the next trend line)
The EURUSD looks like it respects his patterns. We can see that on the uptrend he has respected very well the trend line, but it has 3 rejection lines depending on the speed of the trend. The trend line has rejected the price 4 times until now, and it is in place since July last year, meaning it is important. The price has remained a good period of time under the...
On the Starbucks chart we can see a pretty nice harmonic pattern - Bearish Bat. From the PRZ we might see a rejection back to 51.27. The 20 periods average volume is descending for the up move that got the price in the potential reversal zone, and this could be a good signal for this theory. A close over the marked zone would invalidate the pattern, and signal a...
I believe that the down move is not over even if the price rejected from the trendline. It might have a short rally and after that it will hit new lows, completing this way the abc pattern of the Wave Theory. After that it might continue the main up trend.
Last week, the price for the Amazon shares has fallen pretty good. We can see formed a Bearish Engulfing, right at the superior line of the channel, that might signal a correction which could retest the 242.28 support level. Another thing that is sustaining this theory is the down path of the volume on the uprising impulse of the trend, but also a spike on the...
EURUSD continues to amaze me. We can see two types of Head and Shoulders Inverted patterns. One that inverted the trend and one that is a continuation pattern. They have their target in the 1.3830 - 1.4 zone. The Non farm will be published today with the Unemployment rate. The market might react totally unexpected, so let's see what will be the continuation :)
I agree that the main down trend might have finished. Japan needs badly to depreciate the yen, but the easing will start in 2014, or July this year, still some months till then. If we look at the technical view, we can see that a new HH it was made, the 28 RSI might enter in the mega overbought zone this time, but we still need a HL to confirm the reversal. The...
I agree that the main down trend might have finished. Japan needs badly to depreciate the yen, but the easing will start in 2014, or July this year, still some months till then. If we look at the technical view, we can see that a new HH it was made, the 28 RSI might enter in the mega overbought zone this time, but we still need a HL to confirm the reversal. The...
Just looking at a simple wave count and using some Fibo extensions, i would say that 1.3590 - 1.3645 would be the target for this up move and after that 1.3450. A bold forecast, but let's see how it will go :)
If the price will go just a little lower, will trigger a buy for me. The fundamentals are again week, this might mean a new rally for the gold.
After this break out, i would say 1.3450 is the first target and after that 1.35. DAX broke 7800 and 2 minutes 2 IFO on Germany.
The yen is still strong for Japan's economy. Even though they said that the monetary easing, FED's style, will start in 2014, they still have to weaken the yen. Looking on the CHFJPY chart we can see a triangle consolidation right at the trend line. A close over the upper line could signal a continuation of the trend and the first target would be 98.20. On the...