maccabean

maccabean

The Dow Jones Transports index is considered a good indicator of what the next move will be affecting the wider market. The reason for this is because transports are a good indication of economic health. Lower patronage and goods moving means lower economic activity. A few notes about the chart. The orange line is the DJ30. 1. Looking at the first green flag in...

maccabean

A few notes about this chart. The orange line is the unemployment rate. Black resistance lines are at the top. 1. There seems to be two drops of the unemployment rate before the market falls. This could be due to expectations in interest rate increases. 2. Assuming the unemployment rate falls another two times, the market will drop off sometime in...

maccabean

You would think the bombings in Brussels would send the euro plummeting. You would think the ECB reducing rates and more QE would send the euro plummeting. You would think the very idea of a brexit that threatens the EU concept would bring down the euro. You would think that political uncertainty in Germany and poor data would bring down the euro. This is my...

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Looking at overbought indicators and the resistance the Dow Jones is likely to face shortly. I'd say that it can't rise much further. This is a rally in a bear market. The bounce down off this resistance will be brutal. The fundamentals have not changed.

maccabean

The Swiss Franc has always been one of my favourite currencies to trade because it abides by support and resistance lines... except when the SNB intervenes.... ouch that one hurt. In any case, what you are seeing here are arrows point up from very strong resistance lines stretching back several months. The A arrow points up from the weakest support, the second...

maccabean

Well we must applaud the Aussie for showing some real strength against an overral declining Australian rate of growth, Chinese slowdown + depressed levels of commodities. However I think the spike will soon run out of steam, potential reverse from here to 0.77 and then fall back to minimum of 7.56. Possibly lower. It would be good to see some confirmation from...

maccabean

Added comments. 1. Price breaks below weekly support. 2. Price need hold below support. 3. Price is sitting comfortably between oversold and overbought with various indicators. Breakout likely in either direction. The Trade. Sell the currency if it drops below support range 0.77882 stop loss above 0.78692

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A few notes about this chart in point form backing my argument. 1. MACD crossover possible after bouncing below off the MACD trend. 2. Importantly Relative Strength Index which has been climbing even after the AUD has spiked downwards to the upward support has finally broken down AND may fall below the historical declining strength trend. On the other hand it may...

maccabean

In descending triangle, perhaps wait for confirmation with MACD crossover before buying. Overnight premium is very attractive.

maccabean

Thoughts on Chart. Although after a period of consolidation the price can go either direction, my bets are on a move down. Here are the reasons. 1. MACD crossover. 2. Downwards trending 100 MA. 3. All factors that have damaged the price have already been factored in. Unless war breaks out, I'd say a drop is likely. 4. Buying Turkish Lira pays very well. Great...

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A few arguments in favour of my call. 1. Divergence on major indicators. 2. MACD crossover. 3. Shooting star candle. On a fundamental level, ECB to introduce further QE plus recent oil gains should push EURGBP down.

maccabean

Looking at the price action, this is the most likely move.

maccabean

We are at a level of supply as indicated by the 200 day MA, plus upward trending support, plus long term resistance turned support. Could the level be broken? Possibly. The reasons according to many analysts is that the USD is not considered a safe haven currency. However I wonder if its because the dumping of risky assets in Europe turning the euro into safe...

maccabean

ON the hourly Could get a push by Yellen

maccabean

This could be a very profitable trade. The way I see it is that the price is oversold, dropping to fundamental support. Now, this is important, if the SNB anticipates larger QE by the ECB, they will drop the interest rate further into negative territory. This could be a huge event as the SNB believes the currency is already severely overvalued. The SNB will...

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I'm paying dearly shorting the EURUSD but I find the chart very interesting. 1. Price is extremely overbought with CCI reaching its most overbought level going back as far as I can on TV. 2. RSI is approaching overbought. 3. MACD momentum showing price has still some way to go. 4. Price busts out of long term monthly resistance. All in the backdrop of easing...

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The price has dropped to long and short term important support. Indicators show an accelerating momentum downwards. Target is yearly resistance turned support

maccabean

A few things to notice about this chart. 1. Price bounces down from 100 MA. Before November it was bouncing above from it. This line is key. 2. MACD shows price doesn't have a direction and has been consolidating since December. When the market decides EUR is going up or down, large orders will be placed in that direction. 3. There have been a serious of breaks...