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Long or Short Right?
If news is good for DXY (like Trump revealing tax reduction plans) USD will rise and continue bull inside overall channel. This would agree with USDCHF weekly chart indicating a retracement in a bullish direction much further than what is shown here.
Otherwise, usdchf will correlate with DXY may be forming a right shoulder and is also...
Head & Shoulders Pattern
Note current Bear Flag
Fundamental Exception: Trump to announce more details of corporate tax structure. These are expected to reduce taxes. DXY up, then.
USD Red Envelope news events will only be hiccups.
Consider these with your plays.
Good Luck on all your pairs next week.
have a good weekend
Perhaps the inner trendline is to become the upper channel trend line on a bearish chart.
GBPJPY respects the 100sma in this fashion historically. I anticipate a rise to it before returning down. This is technical, fundies might have different ideas. As always, wait for price action confirmation.
Here, we show moving averages have turned bullish against a weekly bearish trend.
IMO we are looking at a potential trend change.
Watching for a breakout over the 50sma and also that channel line along with price action to indicate.
For a bullish move, the next resistance is at the green dotted (inner cloned monthly trend line)>
We'll see what the dollar...
CONFLUENCES rounding bottom, cup and handle, high and tight
Yet, Resistance above is proving strong. perhaps fundies are influencing. I will wait for price action to show a break of resistance and buy into pullbacks.
I would not dare long this pair. Volatility is expected. However, I will short if the candle close below the 50sma.
The iffy Feds, Trump's Mouth and China being hacked off can contribute to an unstable trading environment (coorelated to DXY).
I am bullish DXY which gives me conclusion EURUSD is more likely headed for another leg down, but not without a...
Head and Shoulders
I am not well versed in divergence, yet. Price is at heavy resistance zone. Others indicate potential diversion which would tie into a head and shoulders pattern.
Of interest is the area below breakout where little support exists until about 0.8060
Great risk to reward potential. I'll short into any recent divergences according to price...
Of course it is a bear flag on the weekly and it's taking an incredibly long time to break. Will it break down? Nobody really knows since usdcad is smacked between a strong dollar and crude that wants to go up but cannot.
Sometimes needs to change. Otherwise, it will continue ranging. I hoe for another long term trend and 2017 might not bring it with...
USE A STOP LOSS.
I'll let smarter traders short this baby while I stick with the bullish trend by buying the pullbacks.
Responds to news!
Stagflation in progress. Use a stop loss!
They're doing everything they can to stabilize their currency.
It's just not going to help if Erdogan cannot produce stability. Opportunity arises! Sad for the news, tho. Make...
Peso has been Trumped by "Build the Wall". Mexico has conceded to work with US on Border "issues". Mexico lost Ford mfg to US because of Trump agenda and probably will lose more. Mexico hopes to arrange decent trade to counter effect.
Mexico Central Bank sold off dollars to stymie skid.
Meanwhile, speculators know that the Peso is squat.
I think the Peso is...
Nearing 1.3400 See text above. I know that usdcad consistently retraces, but this has a lot of support.
She'll most likely push down below the 200sma and bounce off heavy support zone.
I'm bullish usdcad, for now. Will would wait until the bounce and find appropriate price action before entering.
NOTE: My broker is closed. I cannot trade. GL