This pair has been on a daily uptrend since end June 2017. This maybe a retracement from the early September highs. Look for confluence of support around 1. Horizontal support level 2. 50 D MAV 3. Donchian 20 D low. 4. S1 monthly Pivot Ideally oscillators should lend support for the long 1. The MACD to remain above the Zero Line 2. The RSI either above...
The current move in the British Pound is a counter trend to the July 2015 - July 2017 downtrend. Price is at at 52 week high ( DC upper band). Potential upside targets include the .5/.618/.786 fib retracements. Suggested trade on chart . " Buy High - Sell Higher " & " Sell Low- Buy Lower "
Looking for a minor rally for this downtrend to enter short ENTRY - between Monthly Pivot and DC10 midpoint. STOP - Above the 55 EMA TARGET - the Monthly S3 ( and just above the MAY 2015 swing low )
With the strong NFP print yesterday, Gold moved impulsively from 1270 to 1254. The later US session finished with a corrective move. The recent price action on an intraday chart , with lower highs and lower lows, suggests in the near term the market is moving down. The medium term averages 21/55 support this view. Price momentum has slowed and likely the...
US Oil has been in a range from 42-52 for some time now. If range continues , then an oscillator such as RSI may be predictive. Currently on the intraday chart the RSI is oversold. This is not of primary interest. Watch for a potential bullish divergence of this oscillator within the OS zone. Combine this with price action support around the minor supporting...
USD weakness to see GOLD appreciate over the next month. Look for price to break the Monthly pivot next week and then proceed to 1. Fib .618 of wave b and the Monthly R1 at 1280 , to break the wedge at this point. 2. Fib .786 and Monthly R2 Pivot @ 1320 3. Retest origin of B wave at 1378
USDJPY moving down in price in a possible beginning of a minor wave 3 , in an overall C wave . The 114.50 may be the top and looking for price to move down to various targets 1. S1 monthly pivot @ 109.80 2. Fib .50 of wave B @ 108.80 3. S2 monthly pivot @ 107.30 4. Fib .618 of wave B @ 106.50 5. S3 monthly pivot @ 105.60
DXY moving down in a 5th impulsive wave, has arrived at the S2 monthly pivot. Likely the movement next week will continue down with the following targets 1. S3 Pivot / 200 W MA around 92.30 2. Trendline support @ 90.60 a few weeks away. From those targets , we would be looking for signs of a trend reversal to the upside.
EURJPY may be making an ascending barrier triangle. Consider a long scalp , with trade idea on chart.... :)