Trend line is broken and the divergence set up is in play. Expected correction towards 0.755 (rounded off). Sell on a retest of the broken support at 0.76710 (rounded off) levels.
Long on a pullback to 1.225/.2248 levels, targeting 1.24 and 1.255. Pitchfork shows price reacting to the median line. The most recent low saw a bullish reversal without touching the LML. ------------------------------------------------------- Better Set up when the pullback's low touches the median line and then rallies MACD histogram moves above the 0-line
Continuation to my EURAUD long term trade analysis Notes on chart. Conclusion Price is very likely to retrace to 1.40505 through 1.4141 level. Because the major trend is still down, I'll be looking to add to my short positions at 1.414 region, depending on how price turns out when it gets there. 1.435 is where my previous short entry is running so far.
Horizontal Support + Completed Divergence + Median line bounce You know what to do.
Just a fun play set up, going counter to the general opinion. Not a trade recommendation but rather a 'feeler' kind of a trade. Long target 1.08, with partial TP at 1.07. Basic premise is a test of the completed divergence at 1.05792 and break of trend line with a drop back to retest the break out. Small risk, and hopefully the trade will be quick and easy.
Early last week while EURUSD was attempting to threaten 1.1 level, it was in fact giving a very nice bearish signal. 1. Bearish flag: Occurrence of this is potentially signaling the end of consolidation. The downside target to 0.995 is the minimal/conservative target 2. There is no point to enter short now, unless you know what you are doing. EURUSD is fast...
The near double bottom sets its target to 100.89. Price broke the resistance without testing for any support at 98.66. There is further reaction to the trend line, which should ideally signal a test to 98.66. If 98.66 does test for support, then 100.89 could be breached and perhaps the Dollar will set its eyes higher. If price continues to rally, then 100.89...
And finally Gold. A retest to 1213 level is quite likely which should then complete the divergence. Targets are based on the ascending price channel, with partial TP at 1180 and then 1150. Either all three trades are likely to blow up or could result in some really decent profits. Good luck!
Based on a 1 month correlation, USDCAD long seems to match the AU shorts. Bullish divergence is in play and once the correction to 1.252 level is done with, price should be heading higher.
H4 - head and shoulders pattern followed up with a wedge near the right shoulder. Final target down to 0.733. Break of the trend line and test of resistance turned support at 0.77163 could invalidate the idea. For now patterns look favorable to the downside and offers a very decent RR. Could be a good hedge against EURAUD shorts, if you have entered a bit late...
I stumbled upon this few weeks ago. GBPUSD looks poised for a test to 1.52 levels (would be a nice area to short ahead of the elections if resistance holds or if consolidation forms. The measured move of the second box, targets the previous resistance (Box 1) that was broken tested for support and then broken on the way down. Upside breakout from Box 2 could see...
And here's the final chart, following up to previous USDX analysis. Not just divergence but also the fact that the spread has made a lower high. Check the 'reference' below: "LONG DOLLAR INDEX. SHORT 10-YEAR NOTES" where 13 months ago, the charts pointed to get long on the Dollar and Sell the 10 yr treasuries. Its now time for a correction!
So the rally has been rapid and strong. But, a much needed correction is around the corner. Expect a small rally in the Dollar before the correction start. Fed minutes this week: Will it be a reasonably confident, but cautiously optimistic? USD Long positions could see some more unwinding on the cards. Q1 GDP tipped to be lower, signalling a slowing down in...
USDJPY, bullish divergence indicated by Stochs. Price rallied to 119.877 and then flipped over. Obvious target is 118.515.
Divergence set up. A dip down to 1.08/1.079 is very likely.
Recent Aussie weakness saw the Euro rally furiously. Price is now back to the upper end of the price channel. Comparing to Stochs, there seems to be a 'Hidden Bearish Divergence' in play here? However, if price declines, 1.40505 is now a strong support level. If it holds declines, then EURAUD could push higher. I expect this to be tested next Tuesday during...
Measured move targets of the triangle + the rectangle range Bear flag targets of 127.2% and 161.8% Keep an eye on 0.7665. A bounce above this level will infer that this analysis is invalidated. A bounce back to 0.7665 on break out to the upside should result in exiting the trade at close to 0 loss. FOMC due on Tuesday, so apply money management and be aware of...
1. Price initially consolidated within a large triangle and eventually broke out 2. Price rallied towards 127.2% and in the process formed a rising wedge 3. Price often reverses from 127.2% back to 100% (You check my past trade ideas with flags to notice this common occurrence) 4. Price then forms a bearish flag at the 100% 5. A break out to the downside will see...