terencetrading

terencetrading

Simple continuation pattern forming up nicely right now. Also note that the ceiling around 0.7450 is providing a strong resistance, and together with the short-term uptrend line, means that NZDUSD prices will either break upwards (thus continuing the retracement move up), or break downwards (thus starting the next downwards move). Hence, DO NOT sell now yet,...

terencetrading

Continuing from our long positions that we have executed. We are now approaching the short-term bullish trend line as seen from this hourly chart here. I have also drawn in the mid-term bearish trend line here, which nicely forms a triangle which the EURUSD price is converging towards. Thus, still following the same train of thought from the previous idea...

terencetrading

If we were to measure the EURUSD long-term downtrend move from May 2011 to Jul 2012, and clone this same move to the downtrend that started on May 2014 just below 1.40, you will find that this move could have potentially ended when it touched just below 1.11 just hours ago. Once touched, the support level held and EURUSD rebounded to the current level of about...