Supply pocket has been hit on the 1hour EURJPY, has broken the trendline that price had been trading along and looks to be coming for a retest before selling off lower. If price builds momentum and starts making lower highs this could be a good short opportunity. You can plug in a 20MA and wait for price to close below it for better confirmation.
Dow Jones has started a strong uptrend since hitting the 394.09 level. The ascending triangle pattern indicates a possible push higher if resistance is broken in the 445.90 area. This level is also where the 200MA is also looking to be tested. If price closes above the resistance and the 200MA there could be a continuation of the uptrend.
Clear head and shoulders pattern formed on the Daily chart followed by a strong break of the neckline. Price however stalled at 1.34682. This might be a corrective more or retest of the neckline before price pushes further up.
On the weekly chart we see an ascending triangle. Price is stuck within a range but as of recent has been continuously challenging the 1.00968 level. From my point of view two things can happen.
The buyers will exhaust the orders of the sellers at the resistance level and breakout of the triangle to rally higher, possibly up to 1.16829.
The buyers will become...
EURSEK has been forming a double top pattern since last week with additional confluence of rsi divergence and has started trading lower. If the sellers can gain momentum and break the neckline area we could be looking at a very good short opportunity.
Price has been trading within the ascending triangle shown on the chart. We could look for a break to the upside of the pattern and possibly have a strong bullish run. There have been false breaks before so we might see one again too. Lets keep watching the price action and see how it plays out.
This pair has been having a very strong bullish run which has broken to the upside of the flag pattern. When we zoom in or move to lower time frames we see a retest of the horizontal line broken which means price might continue to push up.
SPX had reached a key resistance area and reacted to the downside with rsi divergence breaking out of a narrowing wedge. There are a number of areas that price could react to. We're already seeing a reaction to the 2728.28 level, this could be a temporary corrective move before price moves lower. If it does move lower, the 2639.39 level might get a reaction too.
This pair has been ranging within the monthly levels 78.536 and 72.593. At this point we can see a bearish flag pattern formation. Price has however found support on the 200MA failing to push lower. If we see a high momentum candle breaking the 200MA to the downside it will be a good opportunity to sell, while using the flag pattern for better trading.
The EURSEK has reached the monthly level 10.63053 again and we're seeing a strong rejection at this point. A double top pattern has formed with a higher second price peak and RSI divergence which could indicate a very good sell opportunity this week. More conservative text book entries can be made near the 10.46734 level. Be weary of market manipulation when...
The Euro Dollar has been tanking down the past week and has formed a short corrective wave. Price has formed a double top and the 20MA has been broken on the 30min timeframe. We also see the last candle formation being a bearish pinbar. We could anticipate a potential drop back to the 1.11777 level after seeing what happens on Monday.
On the weekly and daily charts we can see the formation of a descending triangle, along with both the 200MA and the 50MA sloping downwards. The Ozzie Dollar has tested the 0.70433 support three times. A break and retest of the level will initiate a selling bias.