Due to the global turmoil GBPJPY broke the 4Y bull (blue) trendline. Also broke below the 2013 red trendline, pushed lower to the 2014 low and backtested the cross of the two bull trendlines. The brake and the backtest seem to be very orderly.
If risk-aversion aimplifies then GBPJPY is very likely to break below the key support level @ 163.70.
EUR/USD trades in a 1000 pip range since the beginning of 2015
Ttouched the top of the range last August and reversed to the long-term range low
Was recovering slowly and trades now at the very important 1.1030 / 1.1095 resistance zone
If the pair closes above the August 2015 - October 2015 descending trendline and the 1030/1095 resistance zone then the...
SP500 is testing an 18Y trendline. The index was above this resistance line only for 4 years out of the 18. This four years can be characterized by the irrational exuberance of the market, which sadly ended up in the dot-com bubble burst. What is amazing is that, investors have never anticipated the future as bright as that time ever since.
As the price has...
