Daily Update 1 hourly Battle between bulls and bears at 100 MA (bull won thanks to Merkel comment) Minor support at 200 ma 94.91 4 hourly 50 MA is acting as Resistance at 95.47 but break above then Dollar target 100 ma at 96.05 38.2% Fib from June high to June low at 95.62 (resistance) Break and close below 20 MA at 95.00 then dollar target to fill gap at 94.60...
Yesterday 1120 high was a good entry to short and we may have miss it. However, we believe that the market will let us enter again albeit at a less favourable price. Remember, we wait for price to hit 20 dma as confirmation and only once it fail to close of 20 dma then the big size short is warranted. Therefore, it pays to be patience and wait for all of the...
Entry@ 1177.5 +/- 1 (100 ma) Stop@ 1173.5 (slightly below 1175 which was previous breakout zone) Target@ 1191 (previous high) Target@ 1201 (this is 100 dma which often prove strong resistance) Target@ 1207 (end of the CD) US dollar rally this morning was due to RBNZ cut and there is a gap to be filled by the dollar. If the gap filled and dollar continue its sell...
Broke out of the Downward channel line and retested the breakout at 1179. Strong Support at 100 1176 which help to push prices higher. This is the swing long price action. Minor Support at 200 1182.50 20 and 50 ma are playing catch up and rising higher - both have crossed above 100 which is bullish and RSI is confirming. Resistance now at 1189 level which...
See box 1 compare to box 2-there is a strong resemblance here and key is 20 DMA. A retest 1120-1126 levels is possible and only a break higher will invalidate this short. Otherwise, we are aiming for 1025
Technicals: - 4 hourly shows a Double Top - RHS forming here? Since price did not cross above 76.4% at 124.72 which came from the head (see chart) Fundamentals: - BOJ did not mention additional stimulus Entry@ 123.70 Stop@ -50 Target@ 100
Fundamentals: - Dependant on US NFP data Technicals: - AB - CD could play out to target 50% Fib of previous swing high to low - 4 hour chart shows double bottom
Price action is still in a downward sloping channel. Current price hit resistance - creating a double top 1.5432 levels. A break below the organ threaded line may suggest further selling to complete Wave 5 Fundamentals: - Better NFP data that will trigger more selling in Cables - Need Impulsive selling for wave 5 - A few targets should this kick off - 1.50784...
A double bottom in the dollar as it found support at 61.8% - 94.86 - created a strong hammer reversal. Better NFP data will give the dollar bulls momentum to rally higher and retake 20 ma - 95.49 and if possible mount an attack on the 100 ma at 96.00. It will be very impressive if it can break above 50 ma and close above it at 96.50. Bad NFP data will give the...
Just highlighting key support areas for a potential bounce-failure to bounce those must be treated as resistance then (see purple line) Resistance (see green line) are the very first few to crack before we can even contemplate any sort of reversal.
Platinum oversold - could retrace higher from here? Enter here with a tight stop target 38.2% and 50% retracement from here.
USD rally has retraced below 50% and currently forming a bearish wedge. Fundamentals: - USD bull continues as long as Fed hawkish commentary - A good NFP will give USD a boost and warrant a long above 96.63 - A bad NFP will drive bulls out fast as it could affect June FOMC statement to be dovish Technically: - looking to retest minor support at 61.8% fib...
Scalping opportunity and to test if the bund is ready to play ball and retrace in minor support region. Tight stop as our preference is to get long in major support region.
Fundamentals: - BOJ has not express additional stimulus despite pressure from other central banks - A weaker USD due to economic data Technically: - Yen and Nikkei at 2015 high so pullback is healthy - 4 hour is showing potential H&S formation - RSI has rooms to fall - From the breakout level, Fib of 38.2% is a healthy and viable target If Head & Shoulder...
Break below 1177 all hell let loose to aim for 1155 Need a miracle or something really bad to rally here?
Bullish Engulfing & Bull Flagging - need to close the day on the high in order to have more gains - need follow up buying on the next candle - need to break out from this flag with a strong candle - daily price to close above 50 and 100 ma will be very positive AB - CD if bull flag is valid. Enter @ 0.7820 Stop @ 0.7750 (risk 70) Target 1 @ 0.79300 (resistance...
149.67 is 50% Fib from 2014 low to 2015 high 147.00 is 61.8 Fib from 2014 low to 2015 high Pullback on Bunds to short?
It is worth noting that a rising Bollinger Band in Silver price action seems to suggest another leg down is coming. See the chart as we are highlighting that should price hit the top of the BB, silver retraced heavily and this time might not be so different. Should this play out, we have 15.77 as the potential price target. The RSI also seems to suggest that...