EURCHF broke out monthly ceiling Camarilla R4.
OBV did retest of its 50 ema and is pushing up so is the case with AD.
We trade long from Cam R4, Biannual S1 , Quarterly S1 and 200 EMA - all at same area, very strong support level. Stop below monthly Cam R3.
TP1 - monthly Cam R5, TP2 - monthly Cam R6.
Price was unable to break the yearly resistance (Camarilla R3) being rejected with a pinbar on daily.
Chaikin Money Flow shows institutional sell off - decisively broke through 0 level and now at -0.15. We should see a bear market phase next days.
TP1 - Camarilla monthly midpoint
TP2 - yearly pivot S1 (0.62739 = unmarked yellow horizontal line) - price is likely...
I believe EURUSD will continue to drop to yearly S1 where we should see a real reversal (yearly bottom). Price is likely to break below yearly S1, make a swing there (two three touches) and then its gonna continue in uptrend. Right now the vehicle is still in heavy bear market - below all pivots - yearly, half year and quarterly. Current resistance - half year S1...
Price just above yearly pivot - yearly support. Price opened above September monthly pivot, broke up the weekly pivot too. AD Bullish volume divergence on 4 hrs. Price is gonna shoot up at New York open, as for now USOIL used up only 38 percent of its daily ATR which is 170 points (some points above the target). Stop below September month pivot.
Yearly pivots are very precise and solid levels that have strong predictive power.
1. Price broke through Camarilla R4 - bullish breakout confirmed, usually price does a retrace (often to Camarilla R3) before the major breakout
2. Price hit yearly classic pivot R1 resistance - a reversal level. From R1 price usually goes back to yearly pivot (coinicides with...
1. Today NZD hit the bottom and its bearish ride is over - quarterly pivot S2 at 0.63234 - it pierce through it but didnt close below. I expect it to close above that level by 21 gmt
2. RSI 21 is in extreme overbought and is likely to reverse up
At the moment, dont sell any NZD pairs - you can be trapped and your account wiped out if you sell with no stop.
1. RSI 14 and RSI 21 overbought and in divergence
2. Price rejected from yearly middle pivot MR1 (didnt plot that) - classic middle yearly pivot is a major pullback level
3. Price rejected from yearly Camarilla pivot R3 (H3) - major reversal level. When price reverses CAMR3 next target usually is central (in our case yearly) pivot
4. Price hit a trendline...
Yearly pivots are major REVERSAL levels and as you see price did start to reverse at yearly S2 = 128.175. The next long traget would be middle yearly pivot 131.072 and S1 at 133.968. BUT there is a major resistance coming from 2011, former support which price BROKE. Price has to BREAK BACK UP that trendline before it can start going up. It attempted to break it...
Price usually moves within Camarilla pivot range, also on weekly. Price opened in the middle of weekly camarilla pivot range, went to the top...now we should see a drop.
TARGET - central weekly pivot (79.608) and at same zone is today's new daily central pivot (79.570).
EURGBP - ZOOM IN - If price breaks through trendline and closes above Camarilla R(H)4 and weekly central pivot it will be a sure BUY to Camarilla R(H)5 (didnt plot that) or weekly R1. If price is rejected at trendline + CAM R4 + WCP it will be sure SELL - what is most likely scenario as there is a trendline. Actually I already opened a sell position as stop is...
Sell from monthly central pivot which coincides with Camarilla daily R3 resistance. That would be nearly perfect entry. EURUSD is gonna drop even more down, all the way to yearly S1 at 1.09217. If price BREAKS UP (what I doubt!) that level will be from about 12.286. At any case watch what price does at that area. It is gonna be there today.
Right now its a buy but price might also break the trendline (what will be very hard, strong support - see to the left). At any case we are at important crossroads here. We might also see a range along MR1 as a year ago.