After taking profits on our previous EURUSD short, the pair has rebounded off of resistance.
It carved a new low and now we can look to the upside in the mid to long term.
Buy on dips, with a long term target of 1.165xx to 1.17xxx.
Additionally, DXY has rebounded off of recent local highs as well, and is currently in a minor downward trend. This dollar weakness...
USOIL is now as cheap as it was at the start of 2018. In part, the past month or two of selling has been due to a massive increase in supply.
Both in the USA and from OPEC's actions.
I'm expecting that oil will recover and gain for a couple weeks. This could give strength to the CAD for a short time.
After that, it's a crapshoot. Keep an eye on the news.
DXY is currently at the top of its range right now, and with the current week filled with important events, it will be looking to make some big moves this week.
I am bearish on DXY in the short term, and expect it to stick in this range for another wave or two. However, if this week's CPI and retail data lifts the dollar up, then it is possible we see a...
Following a very bearish daily candle, we have a potential short for EURUSD should it break the trendline on the 4h chart.
If it does, then the next resistance is at the recent daily low around 1.13.
So supposing that it does break and move downwards, we may see another move back to 1.13, followed by further movement to 1.122xx.
Do your due diligence, best of...
Expecting Euro weakness and CAD strength in the next week or so.
EURUSD and EURCAD should see downward movements for a bit.
EURUSD to 1.122xx and EURCAD to 1.477xx
However, I expect both pairs to rally after that, and continue this sideways movement we've had on the weekly and daily for a while.
Do your due diligence, best of luck.
This pair has broken out of a several months long megaphone pattern, and is now proceeding upwards.
We can look for price to move towards the 1.845 area within the next several months or so. Likely not by the end of the year, but perhaps within 6 months.
NZD remains weak and we have yet to see if it will recover or fall further. It's my belief that the NZD will...
Short on EURCAD. CAD may be weak, but it will recover and trend along with USOIL prices. The euro is weaker.
There's a perfect doji on the weekly chart, in addition to several long wicks and downward hammers in the past few days of trading.
EURCAD can't seem to push past resistance, and the same goes for EURUSD.
Wait for confirmation of one or two bearish...
After 6 months of constant decline, the Aussie is ready to recover. We are reaching major monthly and weekly support here, extending back several years.
From a technical perspective, it's a good time to long the Aussie. If we check EURAUD, it appears there may be a potential double top on the weekly as well, dependent upon the strength of the Euro. Furthermore,...
This pair is showing a nice setup for a big downward movement on the 4H and 1D charts.
The price of oil has been bullish lately, which is good for the CAD, but make sure to keep an eye on it as it may start retracing pretty soon.
Conversely, the USD has also been bullish but we have not seen a ton of action in this pair in the last week. From this, we can conclude...
AMD long for the next few weeks. Expected movement to $13.00.
If it breaks down at the lower trendline, then we probably have a deeper correction in the stock market incoming.
Such a correction has been expected for quite some time now, long awaited by many investors in the market, but there's no telling if it'll be tomorrow or 6 months from now.
AUDNZD has hit a critical low point in the long term ascending channel and will soon be gearing up for a bounce upwards.
Additionally, NZD remains somewhat stagnant and may have some further sideways or even downside movement while the Aussie is ready to recover from it's two month long decline.
We can enter long on touches of the trendline.
Do your due...
Last week, Ethereum failed to push above the descending trendline, and instead moved lower to the 650 level.
On the first touch it bounced up, and had a period of consolidation before pushing and breaking to the downside once again.
What this means for us is that ETH will see a movement down to the 440 price level. It is very likely to bounce there and move...
Last week, Bitcoin broke out of its descending long term trendline. However, it couldn't hold above it. Upon moving back to retest the trendline, Bitcoin broke through to the downside and has re-enetered the channel.
The next stop is likely to be around the 6000 area, and should it not bounce there, then it may fall even lower to 5000.
Here's some more bad news:...
Unfortunately, Ripple has broken it's support at the ascending trendline on the daily chart. It will either retest that trendline and try to pull above it, or continue with it's downward motion.
Right now, crypto in general is in a downward trend. What this means for Ripple is that it will most likely move to the next support level which is around 0.55 - 0.56....
On both the weekly and daily charts, USDCAD has met resistance and been pushed lower. Furthermore, long term CAD strength may bring this pair even lower.
We are expecting a movement down to the 1.24xx area within the next 6 weeks or so.
Some things to keep an eye on are the Trump Administration's actions concerning NAFTA, which may effect the CAD and MXN in the...
Litecoin is currently in a consolidation phase and will likely move between the descending curve and the ascending trendline below it.
While Bitcoin and Ethereum have made downward movements in the past few days, Litecoin has not shared that large downward movement.
We can scalp on touches of the lower trendline and hold until price touches the upper curve....
Cardano has broken its support line, and will be moving back to baseline in the coming days. When it hits the bottom again, we are in long for Cardano.
After bouncing off of support at 0.11, we expect that it will make a move up to the 0.46 area. After that, it can either break upwards or be rejected and move downwards again.
Cardano is one of the crypto coins...
Bitcoin has passed through the descending trendline and is currently retesting (March 7, 2018).
There are a couple scenarios we're faced with now:
1. If it breaks back into the channel then it will likely perform another downward wave towards the 5000 - 6000 area.
2. Pending an upward bounce, rejecting the trendline, we may see Bitcoin in a long term uptrend...