kwaziphungula

kwaziphungula

It doesn't look good for the US Markets. Whoever ends up winning the elections won't be treated kindly by the markets. A major megaphone pattern is about to complete after which the markets are expected to crash and never come back for a long time. All the market gains under Trump would be reversed. Gold is a good alternative under these conditions. Hope this...

kwaziphungula

I expected a short term reversal to 1.1380 and a bounce to some where around 1.1510, it will be prudent to get out at 1.1500. All of this is supported by Fridays fundamentals which was 1 positive news for the currency (Non Farm Employment Change) vs 2 negative news (Unemployment rate and average hourly earnings m/m). Please be careful around Wednesday and Thursday...

kwaziphungula

This is a short term sell to 0.7510 where I expect a violent rally to 0.7664 after that.

kwaziphungula

This is a very good trade where both the technicals and the fundamentals are in alignment. The technical indicates a short term sell to 1.3350 followed by a temporal bounce and then a major rally downwards to somewhere around 1.3164. The fundamentals are solid as well the unemployment rate fell and the employment change increased on the Friday report which...

kwaziphungula

The EURUSD is preparing for a short. You can enter at 1.0425 and exit at 1.0330

kwaziphungula

EURUSD Up Target 1.0695

kwaziphungula

I have taken a bold step to try and project how the EURUSD is going to move over the coming week. Obviously it might not be exactly this but I do believe the targets I have indicated will be hit in the order I have stated them.

kwaziphungula Updated 

I don't trade this index, however the patterns and resistance lines are screaming to be noticed. I am now thinking about getting in the action when the reversal is confirmed. This seems to be a bear that will last several years. Check my other assessment of the Long term view of the EURUSD which seem to confirm this position. The market is likely to rise to 2078...

kwaziphungula Updated 

There is a support line (the yellow dotted line) coinciding with 78.2 and 88.6 area of a fibonacci zone which should provide support. A triangle pattern seems to be forming a wolfe wave since the 5th wave has gone outside the triangle support lines. I have put two entries, a normal entry and a conservative entry for traders who don't like risk, and again a...

kwaziphungula

A nice double bottom pattern coupled with a pennant pattern that has been broken to the upside confirms an earlier long term forecast I had made about the EURUSD, that there is no way but up for the currency pair. I have put a conservative target at 1.2300 however I think it is easy to see that this currency pair will continue much further than that to reach even...

kwaziphungula

A temporal bounce is currently underway, however I expect the downward momentum to continue until around1.8000 to a reversal to the 1.8800 zone. However if the 1.7700 is reached without ever reversing then trade short till 1.7350.

kwaziphungula

Buy around the break of 1.1330 and close position around 1.1450 because there is a strong resistance at 1.1462. Still need to confirm this but around the 1.1462 zone look for a short sell to 1.1333 - 00 before a long continuation to 1.1583

kwaziphungula

There is nice confluence of resistances at the a fibonacci zone, Ready to short here and put stop at 1.0895 and exit some where around 1.0636 area

kwaziphungula Updated 

The right shoulder is not complete yet but I expect it to be a double top before it moves to 1.08234 which is a neckline area which coincide with the daily S2 support and Fibonacci extension of 1.414. On the way down to this support ,I expect a bounce at the 1.8077 - 1.8084 area before a short lived rally to the daily pivot of 1.0912 and after which I expect it to...

kwaziphungula

A confluence of Fibonacci and support line around a harmonic pattern spells a long opportunity. The price may try to reach a Fibonacci level of 127.2% at 85.76 but fail since it is seriously oversold. For those who can't wait for the formation to complete as indicated on the chart, wait for at least 87.5 to break set stop a few pips below 85.76

kwaziphungula

I am not a long term trader however it is often good to know the prevailing market bias so that we don't make huge short term projections against the prevailing market bias. When you take a short position in 2016 it would be a good thing to be conservative with your targets as the EURUSD is going up. Once the 1.1059 break happens I see an area of resistance at...