fxtrends

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About me Technical Analyst/Independent Trader
Joined usa fxtrends
Markets Allocation
33 % forex 33 % commodities 5 % stocks 29 % other
Top Mentioned Symbols
SPX 19% | 4 EURUSD 14% | 3 GC1! 14% | 3 DXY 9% | 2
fxtrends fxtrends USDCAD, D, Long ,
USDCAD: usdcad at key trendline
35 0 5
USDCAD, D Long
usdcad at key trendline

if you notice last week there was a reaction to a trendline projected from a series of lower highs months ago, which marked the 3rd point and confirmed relevance. USD/CAD has started the week quickly rebounding after last week's shallow pullback,putting the trendline in focus. A clean break would expose key retracement levels

fxtrends fxtrends DXY, D, Long ,
DXY: DXY forms neckline of big inverted H&S pattern
46 0 5
DXY, D Long
DXY forms neckline of big inverted H&S pattern

The US dollar index has pulled back, forming the neckline of an inverted head & shoulders base. So far 38.2% has been retraced, but notice that the projected right shoulder coincides with the 50% retracement. Look to BUY @ 92.625 for 1/2 Target @ 94 & 1/2 Target @ 96, Stop-loss @ 92.075

fxtrends fxtrends DXY, D, Long ,
DXY: DXY forms a small inverted H&S within a larger one
39 0 4
DXY, D Long
DXY forms a small inverted H&S within a larger one

The Dollar Index is attempting to complete a measured move since confirming a small inverted head & shoulders pattern. The objective is not too far away but coincidentally intersects with a potential neckline of a developing (larger) inverted H&S pattern. Check out my blog for updates and more timely analysis.

fxtrends fxtrends CL1!, D, Long ,
CL1!: Breakout!! Buy oil on trendline breakout
85 0 0
CL1!, D Long
Breakout!! Buy oil on trendline breakout

Crude oil futures are probing through key trendline resistance and is poised to close above the above the psychological 50 threshold.Sustained strength targets 52 then 55, while back under 49 signals a bearish reversal.

fxtrends fxtrends CL1!, D,
CL1!: Crude Oil At Key Juncture
60 0 0
CL1!, D
Crude Oil At Key Juncture

Either way you draw it, Oil futures have reached crucial trendline resistance. Connecting either a series of peaks from February or May, price-action has clawed its way to 49.30. Even on an intra-day chart there's evidence of a near-term reaction with these downward-sloping trendlines, which typically confirms relevancy. If broken, it would clear the way towards ...

fxtrends fxtrends GC1!, M, Long ,
GC1!: Gold Next Seeks Test Of Critical Resistance
94 0 1
GC1!, M Long
Gold Next Seeks Test Of Critical Resistance

Gold futures have enjoyed follow-through strength after holiday weekend, continuing August's key breakout From a long-term perspective, Gold is trading within the upper portion of a year-long range that looks like it could extend towards 1500. If the July 2016 peak (1375) manages to cap, however, it could raise longer-term red flags for the latest 20-month ...

fxtrends fxtrends GC1!, 240, Long ,
GC1!: Small double bottom base emerges ahead of key Fib
36 0 1
GC1!, 240 Long
Small double bottom base emerges ahead of key Fib

After suffering the worst day in 6-weeks Gold futures have stabilized ahead of key Fibonacci retracement (61.8% of latest minor range). Also, a small double bottom seems to be forming on intra-day technical charts. More importantly, from a bigger perspective, Gold futures have seemingly held up the month of August after breaking long-term (monthly chart) trendline ...

fxtrends fxtrends GC1!, M, Long ,
GC1!: BUY GOLD!!!  You'll thank me later!!
126 4 1
GC1!, M Long
BUY GOLD!!! You'll thank me later!!

We are halfway through the month of August and Gold futures look to be maintaining a key monthly trendline breakout. At the current low of the month, price-action tested the (now broken) trendline, leaving behind what technicians call a potential throw-back. Moreover, Gold prices have been strongly correlated with the Japanese yen, which also looks technically ...

fxtrends fxtrends EURGBP, D, Short ,
EURGBP: EUR/GBP: 4th- Wave of triangle complete
76 0 0
EURGBP, D Short
EUR/GBP: 4th- Wave of triangle complete

The 4th-wave of a large triangle has either been completed or nears completion. Daily RSI seems to be comfortably in range, indicating room to go before breaking-out. The 5th-wave in triangle patterns often fail to the reach the opposite side of the triangle. The 50% retracement at .7919 should provide an initial cap, while the 61.8% retracement could be where the ...

fxtrends fxtrends BABA, D, Long ,
BABA: BABA bioyed by 50/50
30 0 0
BABA, D Long
BABA bioyed by 50/50

Alibaba found support today at the 50-day MA and a key 50% retracement. The solid reaction exhibited in the mid-101 region highlights RSI divergence and a bullish engulfment or outside up-day. The move from the bottom of the range (82.87) to the top (120.00) was roughly 20 trading days. The current pullback has taken half the time and stalled exactly at the ...

fxtrends fxtrends EURUSD, D, Long ,
EURUSD: EUR/USD: Long-term trendline supports for bull wewdge breakout
69 0 1
EURUSD, D Long
EUR/USD: Long-term trendline supports for bull wewdge breakout

A trendline dating back to mid-2010 has given the EUR/USD traction. Yesterday I observed (http://fxtrends2015.blogspot.com/ ) that retail trading activity had hinted of a near-term base. This has been complimented by Monday's price-action, which highlights a falling wedge. Typically, these type of formations are bullish and with "big speculators" short positions ...

fxtrends fxtrends EURUSD, D, Long ,
EURUSD: Bull hammer signals pause in downtrend
507 3 3
EURUSD, D Long
Bull hammer signals pause in downtrend

It appears that the Euro decline has come to an end....at least for a few days! With weekly chart RSI at record oversold levels, the appearance of a daily bull hammer should signal a basing phase or the setup of an accumulation pattern. Moreover, daily RSI has come off a base and is now showing positive divergence. This is occurring while the top end of price ...

fxtrends fxtrends EURUSD, 240, Long ,
EURUSD: Set to correct, but don't expect much..
216 0 2
EURUSD, 240 Long
Set to correct, but don't expect much..

The EUR/USD is at a record oversold weekly RSI condition after breaking down to fresh cyclical lows on Wednesday. The 7-period weekly RSI is registering a sub-10 reading, which is very rare for the Euro or any major currency pair. This alone should limit further downside, but subsequent rallies are expected to be shallow due to the weak fundamentals and low market ...

fxtrends fxtrends AUDJPY, 240, Short ,
AUDJPY: collapsing towards key 50% retracement
28 0 0
AUDJPY, 240 Short
collapsing towards key 50% retracement

Aussie looking vulnerable with commodities, equities and yields all dropping..

fxtrends fxtrends SPX500, W, Short ,
SPX500: Don't tell me I didn't warn you!
108 4 0
SPX500, W Short
Don't tell me I didn't warn you!

Typically, elongated rising wedges ( like the one seen in the SPX500 right now), tend to resolve to the downside. Also, over the past few weeks, bulls have failed to reach the top end of this wedge. And, in the past 48 hours, the SPX500 is threatening to leave two major false - break patterns and a dragonfly doji pattern. These are characteristics of a either a ...

fxtrends fxtrends AUDCAD, D, Long ,
AUDCAD: Dragon-fly doji hints of basing
36 0 0
AUDCAD, D Long
Dragon-fly doji hints of basing

Monday's dragon-fly doji at severely oversold levels suggests a basing phase could be underway. A confluence of two major Fib's also hint of possible accumulation. A clean break of .9740, however, would embolden bearish momentum, triggering an extension below .9700.

fxtrends fxtrends TYZ2014, D, Long ,
TYZ2014: Ten-year Futures (z14)
6 0 0
TYZ2014, D Long
Ten-year Futures (z14)

10's

fxtrends fxtrends CLX2014, D, Long ,
CLX2014: Crude now starting the final corrective thrust (C-wave)
22 0 2
CLX2014, D Long
Crude now starting the final corrective thrust (C-wave)

Typically once 5-wave moves complete they tend to correct back into the previous 4th-wave. Look for the C-wave to finish in the 95.46 zone. Alternatively, a failure to clear the 94.12 (wave a) high would refocus the key 90 region.

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