docibby

docibby

If this was simply a technical uphrust above the range we should see selling as hidden intention......watching.

docibby

Stalling before correction lower, could be too early to sell, but watching...

docibby

Price having touched the Median Line again - could initiate a correction ( Tuesday reversal :-) )

docibby

This could by a removal of demand = preparation for price drop.

docibby

Wtach out for correction lower - we need a higher timeframe confirmation if this is going higher.

docibby

Some of you have suggested going short and the chart pattern looks good - but as long as the news situation in WTI Oil is so difficult I will not enter short. Some piece of news can come out and let the oversold OIL situation get better,, yes, this would justify a USDCAD short. Even if a short gives some pips it can suddenly stall or reverse. Waiting.....

docibby

Im Falle einer erneuten Abwärtsbewegung in den US Indizes sollte sich das auch in USDJPY zeigen.

docibby

No strength of buyers yet, price could retest lows below 1.1000 ( see structure on the left side of the chart ). News like Coronavirus etc. and a general risk-off environment could temporarily strengthen the US Dollar.

docibby

Looks increasingly likely that price will retrace back to lower levels, wait for clearer entry levels.

docibby

Clear difficulty rising above this 96.00 overhead resistance. If we do see a retreat, all the USDXXX denominated FX pairs and XAUUSD should have more substantial support for LONG.

docibby

We could see an attempt to break above the sideways range, wait for a break down below this range ( preferably on Daily and Weekly ) before going short.

docibby

EURUSD bulls might have to exercise patience, especially if the Dollar DXY does indeed move higher.

docibby

If we see that price holds above the cloud then a further bullish move higher could follow, see targets on chart. This might be bearish for EURUSD, Gold and Silver.

docibby

If we do see a recovery after the selloff then today would be an opportunity. US Indices show similar recovery mode.

docibby

You can see the down sloping trend line capping price and a very important horizontal area. Note how there was already 1 attempt to break higher ( sign of strength ). I will be watching this area and wait for confirmation.

docibby

Watching this area, if the recent rise was just corrective we could see significant downside until Sept / Oct. Cautious investors might wait until Earning release on August 1st.

docibby

We can see that price bounced from this ascending trend line, but I still expect a Summer correction - watch the growing bearish divergence and signs of weakness ( watch weekly chart as reference ).

docibby

Just a big picture look at the recent weekly action - despite the bullish engulfing candle you can see how price fails to make new highs. We might see an end of trend developing here, but I would wait with going short until the current candle turns decisively bearish ( red ). I am looking for a summer retreat to first target 12.400,00 approximately. Wait for confirmation !