The US Dollar Index has been in a consolidation ever since its rampant (AND VERY THIN) price movement up to the 100 level.
Basic technical analysis suggest that thin trading voids usually get filled before a continuation in trend.
This simple fib play shows a simple fib play from the Sweet Spot Zone (62-79 fib zone) to the 1.27 fib extension.
This will signal a...
The technicals of the daily Eur/Usd chart hint at a larger price move upwards towards the 1.19500-1.20000 level.
the reasoning behind this is the accumulation of long orders which resulted in a spike to 1.17000. This has neutralised buy stops which were residing between 1.15000-1.17000 and gives way to a rise in Eur/Usd to fill the thin downward price movement on...
the 1.1450 level has been tested and held strong.
1.1200 has now become the short term resistance level which price could not close above.
price could trade back down to the lows of 1.0900 where previous support is found. if this level doesnt hold then the next taret will be 1.0700
The DXY look as if it is positioned for the next bullish move upwards thanks to last weeks disappointing NFP numbers.
we can see an ascending triangle formation being formed, with confluence of the 61.8 fib and bullish rsi divergence.
i have also highlighted the bullish engulfing bar which seems to have demand orders supporting price.
if we do see a slight move...
Great buying opportunity on TSCO PLC.
A double bottom has occurred around the 160.00 area and it has since bounce upwards and broken through the 200.00 psychological resistance number.
support of the fast moving average too.
target 1 300.00 which is support turned resistance.
will evaluate once it reaches target 1