DXY, EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD
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EUR/GBP has come into and responded to resistance from an internal trendline. Trade since November composes a possible head and shoulders pattern. From an Elliott perspective, trade since 2/25 sports impulsive weakness (5 waves down) and corrective strength (3 waves up take the form of an expanded flat). For details, more trades, and analysis, visit ...
time for a dip / thinking that weakness is now countertrend. visit www.sbtradedesk.com for trades and more analysis
see video here https://www.dailyfx.com/forex/video/daily_technicals/2016/03/03/DFX-Tech-Focus-Nikkei-at-Resistance-332016.html / basically looking for pullback here...implications extend to usdjpy / which we're short from a good level last night over at www.sbtradedesk.com
Trend lows for copper were made back in mid-January at a long term trendline (line that extends off of the October 2002 and 2008 lows). A view of the daily reveals a possible inverse head and shoulders pattern as well. There remains work to do but the pattern would complete on a rally above 2.14 and yield a target of 2.3435. Incidentally, this level is near a ...
didnt reverse at a random spot either / 2 legs down and long term median line
lows in august 2007 and august 2015, tops in dec 2007 and dec 2015, if this follows then selling intensifies into about 3rd week of january...
oh the irony!
NZDUSD responding to long term support. Climbing back to near unchanged on the week and slightly positive on the month (Sep open was .6337). For more, visit sbtradedesk.com.
watching 3.13 for resistance today
$XAUUSD $GLD $GC_F importance of last week's high accentuated when viewed in this context
Crude has declined for 9 consecutive weeks. The only other similar streak (since 1987) occurred in 1991 (10 weeks). Following the 10 week decline in 1991, a 3 month base formed that gave way to a 15% rally (from the breakout level…the rally from low to high over 6 months was 30%).
this is a good spot for sellers to step up in usdchf and the usd in general
USDJPY has completed a head and shoulders continuation pattern with an objective of 128.47. Whether the market makes good on this is unknown. The pattern can fail but reward/risk is asymmetric for bulls against 123. A drop below there would trigger a failed pattern…and a signal in the other direction (short).
Price action since December 2004 compares favorably with price action since December 1987. The 1990s USD bull move was interrupted by sharp weakness from August to October 1998. 2 of the 14 gold-USD non-confirmations were July and August 1998 and July 1998 is the exact distance in time from December 1987 that July 2015 (now) is from December 2004 (hint…look at ...
Has reached the line that extends off of lows in June 06, Sep 06 and October 2010. Parallels extended from the 2006 and 2008 high caught important pivots over a period of 4 years...most recently the December 2013 low. Downtrend support is also nearby. Would take seriously a daily reversal over the next few days.