As shown on the chart, a H&S formation is quite plausible. If this scenario is realized then the area around 1.28-1.29 would be a fantastic point to enter long. There are some indications that the market is playing the H$S game. We'll wait and see. Note that the price is dancing around some heavy resistance zones (trendlines and resistance areas as shown on the...
Action at the Support Lines shown on chart will give a very good idea about the weakness thus direction in Oil. Oil falling will start a trend change in CAD, which is about to change it's course. Strength in rise of USDCAD will depend on how strong Oil behaves.
Seems to me that everyone is curious whether it is the right moment to enter the pair on the long side. My personal take on this is as follows 1- As I have mentioned on previous chart, I was expecting a retracement from 1.33 levels down all the way to 1.28-1.29 levels, which has realized. 2- The retracement, in my opinion is at the end of it's move but not yet...
Price currently at 1-touching daily trend channel upper line 2-touching weekly trend channel lower line from the reverse 3-touching daily resistance line 4-extreme overbought The points above increase the probability of a DOWN move. On contrary, -strong reaction from 1.29 -piercing the daily trend line channel indicates that the major trend is about to be...
We are in a very good position to buy this pair. 1-Price is resting on a strong Support zone (weekly) 2-Just completed a 1-5 wave count in down direction 3-A strong thrust already occurred 4-There is a Flag pattern which is a continuation 5- A strong thrust up from this point on will be a sign of a 3rd minor wave in the up direction Buy the Flag Breakout
Price at 1-At Resistance Zone of daily strength 2-Flag Formation after a sharp fall. Continuation with drop highly probable 3- Upper Trend channel touched Considering all 3 negative signs we may assume that there is stronger probability that the price goes down, rather than the other way around. Target is 1.28
1-At Fibonacci 0.618 2-Resting on weekly strong Support zone 3- A Japanese Candlestick hammer formation on weekly bar 4- A complete 1-5 wave count from the peak. Caution: The channel line (blue) strongly pierced down. I would recommend more signs before entering long this pair. Watch this pair closely in the following days and weeks.
All the way to the levels indicated. Choose your USD pairs wisely. Good Trades
1-Resistance Zone broken out 2- Trendline Resistance (cyan) broken out 3- A hammer piercing jap stick at daily 4- Strong bounce back from heavy support zone Target as indicated
Our previous analysis was pointing to a probable Trend turning point at around 1.33 range. Obviously we realized the target but the price did not bounce back and kept on falling, even though technically there was all kinds of indications that it might bounce back at this level. This is how the markets behave. It does sometimes exactly the reverse of your...
It is one thing to enter during Bull markets, and another thing to enter when you suspect that there is a Trend change. The latter is more difficult by it's nature, as you may still very well be into the current trend, thus making the risk much higher. Therefore, one needs to have more confirmation before jumping in, as we are trading against the main...
Fantastic opportunity on horizon. A bullish hammer+piercing Japanese Candlestick pattern at daily chart (very strong Thrust) at the long term trend channel lower line. On top of this price is at a significant support zone. Can not be better than that. A perfect storm for Bulls. BUY LONG
We are at a weekly resistance zone with a double top formation. My estimate is a retrace back to 36 dollar range as shown on the chart.
This morning we can see some thrust going on in the UP direction. This is, however far from being enough. One needs to see whether the Resistance area shown on the hourly chart above can be pierced through. If yes than this would signal a possible trend reversal. Also do not forget the rate decision tomorrow by the BoC. Volatility before major announcements are...