Price in the short term is in a bearish decline, while the medium to long term trend is bullish. Price has declined to a key area of previous resistance and potentially support on the Daily timeframe. Based on price action I believe this could be a key area where price could reverse to test previous broken support. I don't expect price to hit this target till next week.
USDCAD has for the long term been on a bearish decline, however price has struggled more recently to break below an area of support, rejecting this area on two prior occasions. Based on the close of Fridays candle we can see that price seems to be rejecting this area for the third time. Having broke back above an intraday level of resistance on the 1 hour, I would...
After an initially bullish surge on the daily I can see that price retested and rejected the 103.00 - 104.00 region. On the 1 hour timeframe price also created what seems to be an inverse head & shoulders pattern, with price then breaking above minor resistance at 103.655. After a rejection of resistance at 103.860 price seems to be retesting the previously broken...
The TVC:SPX gained another 3.01% last week. Our view last week was that there was the potential for price decline to 2800 which would be a good area to go long. However the Bulls are clearly still very aggressive in this market and so we did not get that retest. More importantly price was able to close above the important level of 3000. I believe we may get a...
The TVC:SPX rose 3.2% last week finally closing above the last previous high at around 2940. This indicates to me that there are still a lot of buyers in the market, the likelihood is that price will continue to make gains in the following weeks. If there is a decline in price, a good buying area (depending on price action) to jump onto the trend will be around...
Price has been range bound now for the last couple of weeks and I wouldn't be surprised if we move lower in the coming week, falling into the 2700 handle as The TVC:SPX failed last week to create new highs. I think the market needs a strong catalyst to break the most recent high around 2900, however I wouldn't add a any new positions until we break the 3000...
with FX:EURCHF there is a double rejection of resistance. This and other factors have meant I have decided to go short. Lets's see how this plays.
FX:GBPUSD price has been making Lower Highs and Lower Lows and is now at an area of resistance. Shorts to next support level
FX:GBPUSD Structure still favours a short so re-entering at a higher price. Second trade on previous position was stopped at b/e.
Been triggered into FOREXCOM:EURGBP . after price has struggled at previous resistance.
1. Double bottom on historical s/r 2. Rejection of 61.8 fib 3. Bounce of bullish trend line. 4. Weekly double bottom