Fundamentals point towards a bullish Yen and with recent Non-Farm numbers showing up lower than expected, we should see a rally in the Yen and a decline in USD pairs. It may not happen suddenly and take time before we see this happens, perhaps towards the end of the month, but if my technicals give me a signal before the news hits, then I am in. Anything can...
With recent news on Facebook's encryption scandal and more rocky fundamentals, I do have a bearish view on this stock. As a trader I cannot marry my bias so I will only trade what my technical's tell me in the end which is why I am neutral in this analysis. If price breaks above 206.00, then I will enter long to the next resistance around 240.00. If price falls...
In the times of crisis, it has been recorded in history that people stock up on Gold in fear that their economies are crashing or some global event is taking place. Gold has been rallying for over a year now and I do not see momentum slowing anytime soon. I will enter long shortly, but waiting for a solid break above 1550.00 before entering. If price falls below...
I am seeing a potential inverse head and shoulders pattern on the 4 hour timeframe for this pair. I will have to wait for the completion of the left shoulder for confirmation. So far the pair has been showing bullish signs and had a recent break of its down-trendline from September 19, 2019. Price has been holding highs within a range around 1.3200. Once we see a...
Normal technical analysis is not as effective in volatile markets, and with President Trumps tweets and outrageous calls, the global markets have been experiencing very volatile times. These are great times to play more defense and survive the markets. I hope to see things get back to order and markets trending like they used to, but there are no guarentees. This...
The fundamental bias for this pair is still currently down. As this year commences there will be a lot of uncertainty as the EURUSD reaches a fresh new 3 year low. There are no guarantees of an up move just yet, but the declines are getting weaker and it looks like the bears are running out of steam. In my previous analysis (link below) I posted that the pair will...
With the recent Fed rate cuts this week, it is clear this pair is going up. I will add short term confluence by identifying an inverse head and shoulders setup on the short term timeframes. This is a powerful and reliable long term pattern that when gets broken, should project price to its next highs around 1.1120.
It is no surprise that oil prices have been rising. With the recent attacks on Saudi oil reserves it is very clear indication that Octobers oil prices will be higher than the past quarter year. As an active Day Trader I believe in technicals first and the price looks like an excellent inverse head and shoulder setup for the near future. Before we see an...
Bitcoin is about to take off. I am waiting for a break of 11148.3 resistance before going long. Price has been inconsistent with its bear moves and that is adding certainty to my analysis. We will have to wait and see what happens as this year ends and people start waking up to the corruption of their system. Anything can happen though so I am prepared for the...
This shouldnt be no big surprise. The S&P 500 is at an all time high, testing its previous all time highs made end of last year. Here we can see that if price gets rejected by current resistance, it is not looking soo great for this market. I am waiting for a break below 2955 before initiating a short position. I am out of longs as it is too risk-seeking. History...
“Buy the dips, sell the rallies” is how the saying goes. Here we have EURUSD currently declining, which is attracting sellers to the market. It is almost a perfect time to enter longs, just waiting for a confirmation with a break of 1.10300 resistance. I will take price up to weekly highs of 1.1160 before seeing if it breaks out to fresh monthly highs. If price...
USDCHF is currently above last months lows around 0.9700. The short term bull trend needs to break 0.9950 resistance before we see another rally. Until then, the market is still bearish. I will initiate a short position below 0.9800 because the sentiment will have shifted towards the sellers favor. I will be looking to take a long up 300 pips to my intermediate...
GBPJPY is finding minor support around 1.3200. I will be looking for a break 1.32065 resistance before initiating a long position to 1.3600 and beyond. If the current rally fails, then the pair is looking at least a 2% decline to this months lows.
The pair has been losing momentum for the past 3 months. It is finding support around 0.9200 which if respected would result in a potential rally towards 1.1100 highs. If last weeks resistance gets broken then we are looking at a bullish week with high probability of price reaching and potentially breaking 1.3500 highs. If price falls below 0.9200, then we can...
Price is testing 0.9950 resistance. If this holds, then I look to see price decline to 0.9700 support for the first target, then to 0.9600 lows if 0.9700 support holds as resistance.
USDCAD has broken major structure support and is on its way down to the next level of support around 1.2980, old resistance now acting as support. If price breaks 1.2980 support and it holds as resistance, then we should look to see a further decline to 1.2590 support . I am following the path of least resistance and using price action to get my confluences.
Looks like a good time to buy. Confluences line up, price is currently at major daily support. A break of 1.276 resistance would indicate further upside movement. Stop placed below for a reasonable R/R ratio of 1:1
Today, European President Draghi was due to testify about the economy and monetary policy before the European Parliament Economic and Monetary Affairs Committee, in Brussels. To sum up what he said in his speech, he clearly stated that the European economy is stabilizing from its draw-down in the 2007-2008 financial crisis. This is why we have been seeing the...
