Price action has been steady so far, moving to an eventual 106/102 region.. Maybe even 100, who knows. But now, a possible cup and handle pattern is being formed. So here's an alert to look for USDJPY price action near 106 - 100 level . For a move to 123.1 resistance, following a break higher could signal a strong move to 150. Good luck!
Price gapped up from Friday's close. A bullish close today could see some upside momentum in prices to $38 where an immediate pending resistance sits. Support at $35.27 without a break below Friday's low of $34.26 could see some favorable RR long set up. No set up yet, but will be looking for longs on a test to $35.27/$35.30 on a lower time frame chart, targeting...
Continuing the USDJPY long term analysis, the daily chart shows a rather interesting set up. For those who missed the previous shorts at 122/123 levels, the pullback, if support at 118.828 holds could see another opportunity to take long term short positions with an eventual likely target to 114.5 and 112.08 as the most prominent targets to the downside. In terms...
Definitely worth putting into the watch list if no position on GBPJPY. Left shoulder, Head formed. Price trading near a possible neckline. A weekly close higher above 175.83 could signal a move to the upside to form the right shoulder expected near 187.532 - 183.065 Confluence of the long term trend line as well could offer dynamic support to prices....
Potential short set up on a bounce back to 0.738 price zone to establish a short term resistance here. Price rejected near the outer median line. Anticipating a move on the Stochs too, to print a bearish divergence. Support at 0.723 is the most likely target. A break below support could see a move down to 0.709 - 0.706. Longer term, long positions near...
Price has been trending strongly on declining momentum and a top looks to have been formed for the moment. 1.52 - 1.516 is a key zone to watch for. More importantly, the minor support at 1.52 - 1.5203 that has been formed. If resistance is established here, EURCAD could decline down to 1.46. RR is very favorable, but due to thin trading conditions, exit only on...
Besides the intraday divergence, 1067 is a likely level to enter long for the medium term bullish sentiment. For now, a break below 1079 will see a test down to 1067 region. Equities are looking bullish today and it is likely that SPX will be pushing higher today. Risk off sentiment prevailing so far which is bearish for Gold. Trade invalidated on a close (not a...
Favorable risk/reward set up, with an eye for targeting 184.2 price zone. Divergence on H4 and on daily, a potential reversal near the median line. We could see an inside bar being formed on daily if price doesn't move above yesterday's high of 180.616.
Confluence of horizontal support with median lines. Potential resistance zone at 1.094 - 1.0935 region. Look for doji or bearish reversal pattern here near the outer median line. A break below 1.08168 will see a sharper decline down to 1.0632 region.
A fairly reasonable RR set up here with a Head and Shoulders pattern that was formed. price is dipping back to 1.08445 support, which if holds prices could see a move higher. Failure to support prices near 1.08445 could see a break down with a move lower to 1.0815. Long position invalidated on a H1 close below 1.0815.
Expecting a final push towards 2070 - 2100 region on SPX500 ahead of a decline towards 1900 eventually. Book partial profits at 2010 - 2000 and move to BE. On the flipside, as noted, only a 'CLOSE' above 2106 - 2100 will invalidate the short set up. Expect to see spikes to this level if price doesn't start its descent already ahead of the Dec 16th FOMC Meeting.
Updating view for 2016 from the old chart published last year. Price has fallen to hit the first target at 1085. Sadly Gold remains a 'sell into the rallies' Expect bounces towards 1150/1200 which are ideal levels to sell, targeting 1000/975. I doubt if 725 will be reached this year. Gold is practically telling that 2016 could be another year of deflation. A...
This is the updated chart for the year, from last year. Price managed to touch to the 123.1 level and there looks to be a move building up to the downside. A close above 123.1 on monthly will invalidate the set up. Expect a gradual decline lower to 106 - 102. Could take 2016 or next year Watch for break of the steep price channel. There could be a minor move...
Bearish divergence has been building up with the Euro rallying strongly on a short span of time. No proper support levels established on the rally. Break of the median line will like see a dip to 1.50 followed by an eventual target below 1.46
122.4 - 122.6 marks the previous support level that was broken which saw prices dip to the lower resistance turned support near 121.42 - 121.31. The bounce off this new support (121.42 - 121.31) is likely to see a retracement back to the previous support which could now be tested for resistance. If prices fail to break above 122.6, then another leg of declines...
Divergence and prices basing out near 2.24 levels. Favorable RR. Trade could take a few weeks to materialize.
Counter trend and goes against the momentum (Risky set up, but RR is decent) Expecting a retracement to 122.31 and maybe to 122.822 possibly. Price at support zone currently.
Possible inverted H&S pattern with neckline due for a break, targeting 2.3 - 2.2867 and bullish divergence to stochastics.