The situtaion hasn't changed in the precious metals, even though the last month hasn't given us any progress towards the long side, this market remains above the balance zone on the overall timeframes, which means there is only one direction to trade this: long. It's a patience game to wait for the continuation of the still ongoing uptrend, even though lower...
After a breakout had been hit into the overall trend direction (down) about two months ago, the EURUSD has not been able to continue this direction. Instead the pair traded on top of that breakout level, only to move higher towards mid of last week. Now it seems we are approaching the major resistance that EU has been respecting for more than one year now. We'll...
The USDollar did breakout to the upside about two months ago, but since then the index wasn't able to gain strength against the currencies it's measured against. Therefore we're seeing a continous correction wihtout much bull power. Instead last week closed below the balance zone and there is no reason anymore to try and long on this market. More patience is...
The British Pound, here shown in GBPAUD, is still a short overall. The weekly trend has been continously down and will most likley continue its bearish market direction. Another fractal down had been hit two weeks ago, even though price is trading sideways currently, there is no major support price is sitting on that could lead to a stronger reversal ending the...
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The Short has been triggered on the weekly for a while now, so far price didn't really get going in that direction, but they didn't stop you out either on trying to follow the overall trend direction. On Friday during the past trading week the EU went finally a little bit lower, after hitting a sell signal on the daily chart three days ago. Let's see if this will...
prices successfully zoomed thru weekly breakout zone and kept trading higher. So far there is no major weakness is the Indice markets: prices stay above the trendlines and it's anyone's guess where they'll finish. The past week has seen some bulls leaving the arena, but will that be enough to kill off the current uptrend? On the weekly, it has merely started! An...
After a long-term divergence sent prices into a major correction, this correction seems to over. A bottom was formed in May, July saw another bounce off of the 11650 level. After this failure to continue lower, prices rallied heavily to the upside and we now saw a successful upside breakout during the past couple of weeks. The very last trading week supported the...
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Gold still very bullish on this weekly view, despite this week closing lower. When following the longer-term trend, don't bother about each ind. candle, it's the underlying direction that matters!
Refer to Chart for Details of the Major Correction and Close at new ATH at the end of this week.
USDOLLAR has hit a breakout a couple of weeks ago. It occured in the overall trend direction (up!), but it hasn't been until this week that a stronger close above the b/o level at the end of the week showed. Let's see if this overall correction is over and this market picks up its old trend direction. Manage your risk on any entry!
Refer to Chart for Details.
No clear correction above the MAs (Balance Zone) is seen in GBPUSD, instead this market is only lightly touching the shorter period MAs, a sign for just an internal correction. Very likely more downwards action with new lows will be seen.
This FX pairs remains down. So far no significant upside correction. Only the last couple of days brought some minor (= internal) breathing into this market. Overall direction remains down, hold on to shorts.