Price couldn't break above 38% retracement. Couldn't stay above long term down trend. Short term uptrend also broken.
NZD was the only currency gaining strength in feb while everything else was falling.
I expect usd uptrend to continue and NZD to start going down.. I think we might get there before we think.
Curious case of $EURGBP - Update 5
As you might know, I have been following this pair for last couple of weeks. Last friday I took two trades based on the following..
1. Remember, our large big trend is still down, untill unless we break the 50% retracement from last years fall. This 50% came around 78.70 area. ...
$UK100 or FTSE100 is retracing back to the trend line. This is an aggressive market, and I would like to take a sell only at 61% fib at 6108, which also co-incides with trendline. With a very tight stop loss.
Copper and gold miner Freeport-McMoRan Inc. (NYSE: FCX) announced Monday morning that it had agreed to sell a 13% ownership stake in its Morenci mine for $1 billion to its joint-venture partner in the Arizona mine, Japan-based Sumitomo. The transaction is expected to close in mid-2016. subject to regulatory ...
Beautiful Head and Shoulder pattern on Daily chart. Broken the neck line, and shorts taken at 3743 , target 2850/2900. stops should be above 1.40 , but I will be a bit more conservative then that.
All the money we paid to apple over the years, perhaps time is coming to get some of it back..
After breaking major head and shoulder neck, this is I am expecting to see.. sell order at 104 , initial target 75, if that plays out add to the short around 90 again targetting 55 ..
Looking at the short term $ger30 chart I see a push up towards 9525 area where the new trenline comes in play with 38% fib level for recent moves.
As we all know prices don't always go down in straight line. It usually retraces 38% or 50% before continuing towards dominant trend.
I have a sell order at 9520 ...
$GBPNZD beautiful technical buy setup !!
Very simple.. we see the price formed a double bottom on 61% fib line . Now if we break this channel, I am expecting this pair to move to previous high and beyond !! Either buy on the break or buy at the re-test..
What's next for $GBPUSD ? 1.50 next ?
Looking at the weekly chart its evident that $GBPUSD is retracing from it's recent lows. Is this a change of trend or is this just a retracement ? Answer is we don't know.. We can look to find the sweet spots where we think it might turn if the trend continues down. Or if USD ...