I normally don´t watch local TV but fortunately saw the news last week while I was having a lunch. Spanish GDP is growing 3.2% since last year and I heard almost the same words that I heard in 2007: we are in front of Europe, the crisis is behind... and else, and else, and else... Just wanted to have a look at Ibex35 index, to see whether I missed some wonder or...
This is a very approximate forecast on what we could see of Euro and Pounds Sterling in the forecoming years. Both currencies will struggle to the US Dollar but, if this prediction is correct, Pound may face the toughest times in the history. And, unfortunately, Brexit does not have anything to do with it. I recommend to read this article to identify the reason...
Potential Bat pattern: 1. A-B retracement hit 50% retracement level of X-A 2. B-C retracement approaches 61.8% of A-B. If price hits 61.8%, then it should retrace to 88.6% of X-A, which is matching 161% extension of A-B Pattern is invalidated if: a. Price doesn´t hit 115.525 b. Price closes monthly candle above 122.781 Additionally: a. MACD shows...
I believe it is time fro SPX500 to correct after a huge bounce. In my opinion we are living a Wave 1 in a bigger 3 in a bigger 5. So, bulls no need to worry: this is only a small step back before a huge advance. My TP1 would be 2100 and TP2 at 2070. SL: 2210
Despite my wrong prediction on USDMXN, I still believe Peso should take some territory from the USD in the upcoming weeks. Wave 3 targets have been hit today and it is a good moment to fall down in Wave 4 of 5. Notice also a huge bearish divergence on Weekly Timeframe Will short this pair once DXY reaches 100 figures as per my DXY charts posted earlier. Will set...
Despite ZB1 can tecnically go lower, I will try to call a bottom here. Surely, Donald Trump´s election haven´t been a cause of today´s movement but indeed accelerated the things. Will long on opening, with a SL order set at 152. TP1: 170, TP2: 185 Notice bullish divergence on Weekly Timeframe and also bullish divergence on Daily Timeframe
ZB1 futures show that the T-Bonds are finishing the correction which started back in July and are ready for one more leg up. Also, it would confirm that there will be no rate hike in December abd bond market would rally to a new historical highs before a big crash. Will long at 161´21 targeting 182 ish in a term of 4-6 months.
It´s been quite fashionable to analyze the USDMXN pair since Mr. Donald Trump has become an official candidate for the presidency of the United States. All his promises had strong influence on the Peso and every time we have any news on Mrs. Hillary Clinton´s advances in the presidential race, Peso recovers strongly against the US Dollar. But if we check a...
I believe USOIl will hit 42 ish next week and that will mark a beginning of a nice bullish run. Eventually, we will not target only 47 ish which is the TP2 for a Cypher pattern but go beyong 52. The red line at 52 is a historical trend line which comes from the 90s. As you can see, market watches it closely so it acts as an important separation level between...
On EURJPY pair, price is currently stuck at the Daily 50 Moving Average (blue curve on the chart). There is a good possibility of bouncing up from here but I believe it will still complete a triangle and present a good option for buying with short SL. If a 50 Daily MA is broken and price moves down, that for me is a good sign for a triangle completion and further...
USDJPY bulls have their last chance to achieve something important. With DXY close to the top, there is a huge bearish divergence on Daily chart which should start working at some moment. Price above 107.5 would break this divergence but I seriously doubt this will happen Will start building shorts next week, hopefully from 104.5-105, targeting 95 as first target...
JPN225 arrives to a downtrend line valid since more than One year ago and now will decide where to go. A secure breakout would mean a road to the new multi-year maximums. Nevertheless, in my opinion, we will see one more leg down, which can long several months from now, and after that a run to these maximums will continue. I´m ready to short 17,500 zone,...
EURGBP pair is close to the absolute maximums reached by 2008. The magic of the Parity is strong again, specially, with the Cable dropping hard since recently. But GBP is, at the same time, at the lowest levels since more than 30 years to the US Dollar. Both currencies may start a bullish run but the Cable will have an advantage of a lower base. I believe EUR...
Looks like we will know the answer soon. I will try a tiny long at 1.0936. SL: 1.09
Potential Cypher pattern at USOIL which can end a speculative bullish run on oil and start a corrective impulse towards approximately 41.48 . Please notice also a possible Bearish divergence forming on a daily chart. If confirmed, I will short by market at 53-53.50 area with a SL at 54.50 and TP at 41.50 Closing a daily candle above 53 will invalidate the...
GBPJPY pair shows an ABCD pattern has been completed and should eventually start a short term bullish run. Will long by market SL: 120 TP1: 131.83 TP2: 136.18
Updated forks and an ABCD pattern: looks like somebody finally had serious problems and had to run into the US Dollar 0.79% . But the room for a run comes to an end... It´s been said that, after the Renminbi devaluation the chinese took 25 bln out of the country while normal capital movements does not exceed 4 bln. Regarding to a pattern itself, it ends at 99.11...
Possible Cypher pattern spotted on EURUSD pair. It is very important to notice that the pair reached an important resistance level of 1.1050 and may bounce from here. In my opinion, every dip should be bought as we may face a huge EUR rally from now moving on. I´m starting to accumulate long positions on EURUSD with a SL at 1.09 (below Brexit lows)