I'm no pro, but as Forrest Gump says "stupid is, as stupid does!" Waves come in, waves go out, the carousel goes up & down(as does temperature), etc.,etc.. We may get a little "sideway action" for a while, but I suspect a continued move up!
**This is an idea! As with all investing, Forex involves risk! This is in no way financial advice, & I cannot be held liable...
Given all the recent charts/info from various sources(market makers), I can't help but wonder what's really going on. With all the embellishment on not just our economic status, but around the world, I can only see one thing coming, a world economic down fall(I'm not a "doomsday prepr"). You can only patch things up for so long, before it's actual integrity will...
We all new it was coming! I just hope this isn't the beginning of what we saw back in 2008-2009! Happy trading!!!
Disclaimer- I have no open positions in the S&P 500, nor will I, I trade Forex(no offense).
We reached resistance twice(double tops) around 1.3800. I look for a run down to about 1.36 -1.35(FIB levels & old support(around 1.361), before returning back to the up trend. Happy trading!!!
After the 2 "indecision" candles(days), then price move above on the next candle(day), that started this up trend, it appears the trend will continue. Looking at the last 2 candles(days), which have broken through resistance, they form an "inside" candle price action(when the 2nd candle(and wicks) is within the range(body & wicks) of the previous candle), which...
After yesterday, I took a look back on the daily, weekly, & monthly charts. The "key resistance"(spoke about by many) at 142.000, I believe may cause a small retracement(if any), but trend should continue in an upward move. Looking back a year ago(yellow highlighted circles) almost exact same pattern(even with MACD) Also, movement still above 10,20,50,100, & 200...
It appears that EURUSD has reached resistance at 1.38000 and is starting its way down. Looks like it may reach down to around 1.36000 - 1.35500(.382 - .50 FIBs) before rebounding back up(looking @ wkly/mnthly charts). Going short, for now!
Evening doji/star, shooting star, trying to form, all of which are bearish signals,. 6 days ago there were conflicting reports about JPY & there are no more real "significant" reports coming out the rest of this week. However, the news now is that JPY is gaining in strength, although a few days ago the EUR trio was gaining. UGHH!!!! Is this typical of what happens...
The hammer is a bullish pattern candle if it occurs after a significant down trend. MACD & RSI also show confirmation of an upward turn. Going to take a ride to around 0.92 looking at FIB levels.
According to the weekly & daily chart/MACD/RSI, there is still some upward movement left in this pair. It appears that it should move up to around 1.37500 before starting its downward move. I am long this pair for now!
