SPY 195.66 – neutral – Forms a 2-week triangle SPY has been consolidating within a 2-week triangle since the sharp fall to 182.40 (August 24, 2015). An upside break above the 199.47/199.84 resistance zone (September 9/August 28, 2015 highs) would confirm a bullish triangle breakout and prime bulls for further retracement towards 204.11 (July 7, 2015 range low)...
AUDUSD 0.71112 – Short-term Bulliish – Scope for 0.7153/0.7205 resistance zone near falling channel AUDUSD rebounded off the .6945 reversal low (September 10, 2015) to offer scope for the 0.7153/0.7205 (September 1/August 28, 2015 highs) resistance zone near the falling channel upper bounds (from June 18, 2015 lower high) (as shown on the daily chart). The area...
GBPJPY 185.72 – long-term bullish – Carves out a consolidation zone with uptrend intact GBPJPY staged a sharp reversal off the 180.34/180.47 minor double bottom (September 4/7, 2015 lows) to approach 187.49 (September 10, 2015 high), retracing near 50% of the 195.24/180.34 fall. The 3.5 year rising trendline remains intact (as shown on the weekly chart). While...
GBPUSD 1.5416 – Short-term bullish – Approaches the 1.5507/1.5566 resistance zone GBPUSD staged a sharp reversal off the 1.5163/1.5170 minor double bottom (September 4/7, 2015 lows) to reach 1.5475 (September 10, 2015 high), retracing near 50% of the 1.5818/1.5163 fall. While the 1.5338 support (September 10, 2015 low) near the 200 day moving average holds dips,...
EURUSD 1.1286 – Short-term bullish – Approaches the 1.1331/1.1395 resistance zone EURUSD rose from the 1.1086 swing low (August 31, 2015) to reach 1.1309 Friday (September 11, 2015 high), retracing near 38.2% of the 1.1713/1.1086 fall. The pair is approaching the resistance cluster including the 1.1331 lower high (August 31, 2015) just beneath the...
EURUSD 1.1267 – Short-term bullish – Rises towards key weekly resistance cluster EURUSD rose from the 1.1086 swing low (August 31, 2015) to reclaim Tuesday’s 1.1230 high (September 8, 2015) and the 200 day moving average to suggest return of strength near term and open last week’s 1.1331 lower high (August 31, 2015) just beneath the February/May/June trendline...
AMZN retraced over 38.2% of the 285.25/580.57 upleg (as shown on the weekly chart) to reach 451.00 (August 24, 2015 low) before carving out a consolidation zone. While the 452.65/451.00 support area holds, reclaiming 544.95 (July 27, 2015 weekly high) would signal return of strength towards the 580.57 record high for a retest (July 20, 2015). However, a deeper...
EURUSD broke below a 3-day rising wedge support to suggest a lower ceiling at 1.1230 (September 8, 2015 high) could be in place, offering scope for further weakness towards 1.1211 (September 7, 2015 low) then the range support at 1.1086 (September 3, 2015 low). Below would extend the current downleg from the 1.1713 spike high (August 24, 2015) to open 1.1016...
EURUSD extends the rebound off the 1.1086 low (September 3, 2015) to retrace near 61.8% of the 1.1331/1.1086 fall, and form a 3-day rising wedge. A rising wedge in a down move typically resolves bearishly. A breakdown below the 1.1153 support (September 8, 2015 low) is needed to confirm the bearish pattern and extend losses towards 1.1086 next. However, an upside...
EURCHF cleared 1.0960 (August 12, 2015 high) to post a new YTD high at 1.0969 on Tuesday (September 8, 2015). The series of higher lows including 1.0873 (September 8, 2015 low) and 1.0800 (September 4, 2015 low) should underpin further upside. Sustained strength above the 1.0969/1.0960 area should propel the pair towards 1.0999/1.1014 (August 29/September 5, 2011...
VXX rallied strongly to break above 7-month falling wedge resistance (from February 2, 2015 peak), suggesting basing over the 15.48 low (August 5, 2015) and prompting further upside towards 18.87/19.77 for gap closure near term. However, a close below the 16.77 area (August 20, 2015 low) would signal bullish momentum stalling and re-focus on the 15.71/15.48 wedge...
EURUSD staged a strong rally following the triangle breakout to retrace 76.4% of the 1.1436/1.0807 fall. The strong momentum favors further strength towards the 200 day moving average currently at 1.1334 next. The immediate support levels are 1.1216/1.1214/1.1189/1.1151 which should contain a potential pullback ahead of renewed push towards the 200 day moving...
CTRP weakened towards the 63.00 4-month range low area (near 50% the 40.74/87.62 rise) and the 62.13 higher low (May 1, 2015). Given the bearish MACD, it is possible that the stock may break down further towards the 200 day moving average at 60.00 and then 57.59 support (April 1, 2015 low) near (61.8% of the 40.74/87.62 rise) which may provide support for the...
FB pulled back from the 99.24 YTD high (July 21, 2015) towards the 91.19 range support near 38.2% of the 76.79/99.24 rise and 90.99 (July 15, 2015 high). The bearish indicators suggest it is possible to risk a deeper setback towards 89.40, near 50% of the 76.79/99.24 rise and the 3-1/2 month rising trendline (from May 13, 2015 low) which should hold the correction...
HLF pulled back from the 61.95 new YTD high (August 10, 2015) towards the 38.2% of the 49.00/61.95 rise at 56.93. Potentially a swing low could form near the 55.86 area (June 25 12, 2015 range high)/55.42 (50% of the 49.00/61.95 rise)/54.11 (near 61.8% of the 49.00/61.95 rise) ahead of the next upleg towards 61.95. Outlook: Short term: neutral Long term: bullish
EURUSD found support at 1.1016 (August 18, 2015 low) near the former 2-month triangle resistance, now support, and 50% of the 1.0847/1.1213 rise. Subsequent strong rebound signals basing and shifts the focus to 1.1213 for a retest. Clearance above there would challenge 1.1277 (near 76.4% of the 1.1435/1.0807 fall) ahead of the 1.1385 area (near falling trendline...
HLF reached the 61.95 new YTD high (August 10, 2015) before consolidating. A potential swing low above the 55.86 area (June 25 12, 2015 range high, near 38.2% of the 27.60/61.95 rise) remains expected ahead of a rebound to test 61.95. Clearance above there would accelerate the 8-month uptrend toward the next target at 69.69 (as shown on the weekly chart). However,...
FB reached the 99.24 record high (July 21, 2015) before consolidating. While 91.19 (August 12, 2015 range low, near 38.2% of the 76.79/99.24 rise ) holds, scope remains for a rebound to test 99.24. Clearance above there would accelerate the broad uptrend toward the new targets at 102.03 and then 106.85 (as shown on the weekly chart). However, a break below the...