Crude oil for me is likely to move yet closer to $40 per barrel. However, this strong RSI divergence and high level of structure indicates an imminent pullback. Buy now and short later.
Trade opportunities opening up on the triangle on USDCAD. If your ballsy then buy now.
Following the additional stimulus of over 20 trillion yen announced early today by Shinzo Abe, I think that investor sentiment in the Japanese economy will be largely boosted, causing increased long positions in this pair, pushing up the price. Why now and why 110 yen? There has been a lot of choppy behaviour based mostly on structural moves recently, and I...
After the severe appreciation of the YEN we are likely to see it bounce back, especially given that there is a level of support in the form of a falling wedge. I think that it is likely to bounce up to the structural level of resistance as indicated by the horizontal black line. I see no fundamental reason for a prolonged period of USD strengthening against the YEN.
After these curves movements we tend to see structural movements at the top. I expect a move down to the support level indicated by the horizontal line.
Technicals Gold broke strongly through the resistance level drawn, before closing slightly above it and then pulling back below it. I have been long gold for a while and this 'overshot' pullback provides further buying opportunities. Fundamentals Following Brexit, we are likely to see UK, European and US stocks take further hits; further warnings from many...
Trading opportunities from a symmetric triangle, providing us with the opportunity to trade a break below or above the resistance/support. My opinion : Further downward pressure on oil will cause the USD to strengthen against NOK (Norwegian Krone) due to Norway's economic dependancy on oil prices. This will cause a break above the triangle and hopefully a profit...
This rising wedge indicates a number of possibilities for the next movement in brent oil. Could be a trigger for a bearish move down, or provide further momentum up to the mid $50s. I think that given the views of the new Saudi oil minister al-Falih and the possible beginnings of a market rebalance following Saudi Arabia successfully pushing a chunk of the US...
Falling wedge has been forming on the USDJPY pair. Given the high convergence of the last few hit points we could see a break to the upside at hit 8.
Strong sell signals on this pair. Has hit a strong resistance level on an uptrend with very strong bearish divergence on the RSI.
Very strong support level on AUDNZD, coupled with bullish divergence with the RSI falling into oversold territory. No significant fundamentals at play so a good opportunity for solely technical trades. Buy at the support.
The current political uncertainty in Turkey is what drove that sharp rally in the first place, and the current consolidation is, for me, a signal of momentum build-up that will cause another spike following further uncertainty in the country. The reason for this is that tourism could be affected, thus causing investors to stay away from the currency, buying...
Brent crude rally appears to be quite overdone, given that the fundamentals aren't particularly good. IEA announced that Iran have almost reached pre-sanctions production levels, fuelling a glut further and quite outdoing the decreasing in production in the US. $49 as a SL.
I don't usually trade these, but for anyone interested... Target based on previous structural levels and and SL based on the shoulder height.
Possible trade setups from the ascending triangle. Could wait for a break to the upside or watch to see if the triangle continues to play out and buy at a later stage. Profit target is based on previous structural levels
Crude oil has hit the resistance of a channel at a point where the market has previously met structural resistance. Alberta fire has been completely priced in now and caused a quite unnecessary rally in prices which is over. There is fundamentally room for a strong move down in the coming days.
Gartley pattern on the USDNZD has just completed with very nice confluence in the 1.272 extension and 0.76 retracement. Very choppy market at the moment on this pair which suits swing patterns like this. Also seems to be a bit of consolidation at a bottom, also good for a Gartley pattern.
Bearish divergence on the RSI, indicating a possible short opportunity. This is strong divergence as we are still in the overbought region. Seen a strong rally in the USDTRY recently over the political uncertainty in Turkey. We are seeing a consolidation at the top as the market gains some relief over the strength of the rally. This is a way to play that consolidation.