motleifaul

Nothing else to say. Correcting from time to time the yen keeps rising.

The decline of the past 2 days has been retraced now and due to the still bearish trend a further decline seems likely again now.

After the steep fall we saw a retracement that could not be completed. Thus I assume that the decline will continue now.

With a stronger yen the retracemnt of the Kiwi may be a complete one.

With a little retracement we retested the MA. After the Friday good long red candle we may assume that the test may end in a further drop down.

With a new upward gap we started a new attempt to retest the upside.

All indicators used and the employed drawing elements as well are supporting the price here. It should rise. If it breaks through hoever, expect a steep fall.

The fall of gold, i.e. the rise of the dollar has been only interrupted by an attempt to correct the long way down. This correction seems to be failing.

I see this as an opportunity to short again because of we reached a resistance zone which held twice since the 9th of May. If we cannot overcome it again we shall resume the downtrend.

At least in the short run the pound gets momentum again.

The price didn't develop as I had expected. The attempt to rise through break down. And the rule is: If not up then down.

We are already higher than the previous May highs. It looks like breaking through to new highs now.

It has been looking toppish after the last 4h close as an almost cross. But with the higher opening this is void and shall be considered as beeing no top.

However slowing the trend is continuing. Due to the relatively long way down now, already, we may consider this to be more than a orrection of the previous rise, i.e. it is more likely that the decline shall continue.

On Monday the correction downspike had been filled and Tuesday it was followed by an engulfing pattern. The drop may continue now.

The bottom of the almost 1 year lasting decline seems to be found. Even if we may try another test down there shall be a retracement up finally.

The trend is still downward directed. I consider the recent rise as an upward correction and expect another decline soon.

The dollar is fluctuating at this level but holds above the MA here. I assume that the trend will continue soon.