its now showing a tripple top which is a bearish signal along with the downtrend. Some technicals creates a buying signal however we see that strong selling pressure for the daily-weekly traders. Most of them holds bigger positions which can drive the market down.
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Brexit made the USD in a selling spree but now that it extended until December 2019, I believe the traders will be back looking at the technical until the deadline.
A buying opportunity signaled me to buy now and hold it for few days- months until the next Brexit drama continues.
Zooming out the chart, we see a long term uptrend.
After Brexit drama extending until the end of December.I believe the traders will resume following the technicals on the long run. GBPUSD is still in the downtrend. If you check previous months, it starts to test the previous high before down further.
As people get directions from the fundamentals for the next few weeks, I believe the traders will follow the technicals and invest in the USD. Until we see a clear path, the technicals will remain the key factor in regards to the direction of the market.
Based on the 4 hour chart, a short term bull will might continue as long as it holds the 50/200 emas.
Again this pair talks about brexit and how UK will handle it properly. I think that before the Oct 31 deadline, the market will play on the technical basis then may create a push up to cash in the profits while people will wait on the brexit deal. For now, I believe we play technicals and follow the trend. Simply down trend.
We observe the golden cross in the price however, we must consider the long term trend which is in the C wave. If you will also check the daily chart, it will be clearer to see
the direction of the price. On the fundamental side, investors are looking for stability in the market before they invest in risky assets. In such, we see that the BREXIT is still in the...
This is in the connection for my USDCAD Post. This chart shows an ascending triangle formation however, we need to remember that that down trend wave is still in the shawdows. Combining both theories, we can say that the
price might break to its resistance then return back to lower positions. The market might be looking for positive news at the moment.
Based on the wave theory, I believe there will be another 5th wave impulse before we see a continues downtrend to complete the major C wave.
In this regard, we may expect a short term uptrend as the market wait for good news to take the risk out of their trade. As long as there is no clear direction between US-CHINA
trade war, Bombing in Saudi and other...
This is clearly a long ascending triangle that took years to create this pattern. At its current price, it is strategically sound the acquire USD and hold it for a longer time period or wait for the break out and acquire it if it breaks the ascending triangle resistance. I think the traders are just looking for the right news to boost the pair higher. Just make...
Update from my previous post: USDJPY
After few days, the market started to hold on the said price. I believe it is starting to get a momentum to push the price higher in a few days. Wednesday will be perfect for swing traders to enter.
Maintaining this price until Wednesday may start a rebound on the said capitulation.
Feel free to comment on my post.
After checking my monthly chart, (please view my account to see the monthly analysis)
A strong capitulation might happen for the rebound respecting RSI signaling a buy signal. Even though there is a short term sell off, you might reconsider buying on dips.
as the risk -reward ratio is now on favor on buying rather than selling.
Comment below if you agree.
In regards to the pair. We want to see the main picture. Currently the short term sell off may trigger the long term buyers such as me to acquire and hold USDJPY further on the upside. Forming an ascending triangle which shows a strong bullish momentum.
Elliot Wave C: I am basing the trade due to Elliot Wave C
Crossed EMA on daily chart at 50/200 ema .
- The pair Respected the 10 year down trend which I believe triggers the bigger players in the market.
Putting Fundamentals on Factor.
I must agree, there are some reports speculating the slowing of US economy based on the...
Based on the chart we see that the recent lows in usdchf gives me an opportunity to enter in regards to the pair. A monthly range of 100- 200 pips can be established within the range of the pair.
Due to trade wars, Most people are still in USD compare to riskier assets. For me, I see the sell off as an opportunity to enter and stay for...