UJ.H1. Breakout & Ascending Triangle formed. Potential breakout 112.50 lvl, but take note that overall trend is still toward down.
Pattern: Double Top ****************************** UJ' buyer power weakening as it unable to make new high.
Ringgit had traded between 4.40 ~ 4.50 for weeks.
Descending triangle broken at 115.30+/- Target Support at $112.
Pound continue to go weak since BREXIT Referendum in June 23rd, 2016 - Flag Pattern identified, indicating a bear is coming.
USDMYR: USD continue to rally against MYR. The rally is strong as it stay above Daily EMA20 since 2 months ago. The first sign of recovery if it break below EMA20 - Major event ahead in US is Election on Nov 8th, 2016, and possibility of rate hiking in Dec2016. - Msia just announced Budget for 2017. Total spending increase from last budget, significant an...
Visa is trying to make fourth test to break and close above $82 on weekly chart.
Crude Oil ------------------------------------------------ # Trend reversal signal appeared. # Break above previous high at $35 (But with low trading volume) # A minor pull back from $38 to $34 - $35 considered as healthy phenomena. Note: Commodities based on demand-supply. Price wont go far high unless world oil producers willing to negotiate. # Next major...
NKE Long Signal based on SNR and Trend line. Good Risk/Reward Ratio.
# SLV is downtrend & has no reversal sign yet. # Good margin of safety as the price is low. # First sign of trend reversal is when SLV make a "higher high" by breaking above $15.50, second sign is "higher low", which is above $13. # (if) Pulling back to new uptrend line is considered as healthy. # Early Buy Entry: Point A, 2nd Buy Entry: Point B
GBPAUD (GA). H4. Price break below Uptrend Channel after it unable to make new high.
recovered steadily since Crisis Low @ $26+. Key resistance $50 to $52 have broken and tested. # Foresee a healthy pullback. # Overall Trend is up. ***Do not trade against the trend. # Not a good EP at recent price. Wait for pull back for Buy Entry.
Since Donald Trump's election, global bonds have lost over £1 trillion in value during a significant investor sell-off. They’ve started moving their capital into equities, believing that Trump will create a domestic framework which is very pro-business.
Buyer power decreasing as the price unable to make new High after several attempts. Price break uptrend channel and retested new resistance, continue to go south now.
Potential reversal signal forming. Early EP is now at near $56.50 with tight Stop Loss. Wiser entry is to wait reversal signal to form/or after price rejected the support /ascending channel at $56.50
VISA: Critical Support Level. Price unable to make new high after several attempts. Potential for bullish reversal, but chances to break below channel is there. # However, do not short Visa as it is Strong Fundamental Stock. Overall performance is uptrend since IPO. Enter for long position if price break above R=82, SL level set below S=75 or below uptrend channel.
USDMYR: USD spike up since Trump elected as US President. The rally is strong and broke above up trend line. - “Global investors are favoring conditions in the U.S. market - Offshore investors pulled money out of emerging Asia into U.S. Treasury, regional currencies were walloped. Malaysian ringgit dove 2.7%, according to FactSet. - There are significant...