$EURUSD used USD weakness to climb above its 200 SMA line again, closing below the important 1.14 resistance zone. $DXY (Dollar Index) is sitting on top of its daily 200 SMA line, a support line that will decide whether USD will resume its strength or start a deeper correction move. Thursday's Fed's announcement should determine the fate of the USD for the near...
$GBPNZD rallied 500 pips last week after touching the 2.4 support zone. It came real close to complete the bearish Butterfly pattern shown in the chart but failed to trigger my short entry as it was stopped by the 61.8 Fib level (from August's spike) The 2.4 support zone was recognized as last week's focus zone on last week's Weekly Markets Analysis newsletter....
$SPX managed to close the trading week above the 1950 support zone, having its best week since July. I get a lot of questions asking whether the latest S&P bullish move is a correction wave (to its August declines) or whether August's bearish move was the correction that the market was waiting for and we are heading to another bullish wave that will conquer a...
$GBPUSD managed to climb above its 200 SMA line before Rate decision. It is still below 1.55-1.56 (the bottom of a weekly trading range) and below the Fast and 50 SMA lines. Although I do think $GBPUSD is due to rally, I think it may still has one more bearish wave in it. The short term potential upside is to reach 1.55- 1.56 and re-test the weekly structure...
2000 was the target level for my bullish setup on $SPX. Not that it has reached that level (very close to it) what are the options? 1. Bearish correction towards FOMC - Potential pullback towards 1970 and 1950. 2. Bullish breakout (maybe $AAPL will push it forward today) - Continuation towards 2040-2060, which is my final target level for the pullback...
This oversold stock is trading inside a clear trading range for about a year: 2.8-.2.4 with bottoms near 2.2$ The Head & Shoulders pattern shown in the chart was triggered during August but the price ended up creating a False Break to the neck line (assumed to be the 2.4 support zone). If that's a False Break, we may expect $ZNGA to breakout on the other...
Since it latest decline from the bearish Gartley pattern, $DXY managed to recover some of it losses and in fact completed a 61.8 Fib retracement. $DXY is just below its 50 SMA line and above the Major structure zone near 97 and that could be a zone to start looking for counter USD setups. But.. During the last two trading days (last week), $DXY was able to climb...
$USDCAD is slowly but surely grinding its way up towards the Crab pattern's PRZ. Despite intraday up and down swings, $USDJPY managed to stay above its Fast SMA line and maintain its trend. Two bearish scenarios for $USDCAD: 1. Completion of Crab pattern near 1.34-1.35 (see risks and potential rewards in the chart) 2. Breakdown of the Fast SMA line could lead to...
$SPX managed to close above 1920, which was last week's support zone (1900-1920). During the week, $SPX touched 1900, rallied to touch the resistance near 1980 and ended up closing below the important 1950 level. I still think that $SPY and $SPX will stay above 190 (1900) and continue higher towards 200 (2000) but.. if they won't, there are two patterns I'm...
Since its peak in 2011, $XAGUSD (Silver) is on a clear downtrend that only accelerated since the second half of 2012 (only minor pullbacks as sellers became more aggressive). On November 2014, just as QE ended, Silver touched the PRZ of a weekly bullish Bat pattern (notice that B point didn't reach 61.8 to make it a Gartley). Despite the light pullback that...
The pullback I wrote about in the Weekly Markets Analysis ( goo.gl ) maybe over as $EURUSD rallied back to the 200 SMA line and found resistance. Now, we have potential short term bearish setup as I expect EURUSD to reach 1.11 or 1.1 which are this week's buy zone. 1.1 is still a major structure zone and that's where the price will meet also the new uptrend line...
$EURUSD's summer rally ended up with a weekly False Break to the 1.14 resistance zone and to the two harmonic patterns I mentioned in my previous analysis. The price already reached first target zone of the bearish Bat and bearish Butterfly and the price could continue lower towards 1.11 and 1.1 The price is still above the Fast SMA line and we can see some...
Last week's sell off in $GBPUSD pushed the price back below the ascending trading channel I mentioned in my previous analyses. The price found support on a daily support zone and also on its 200 days MA line. 1.55-1.56, the bottom of the weekly trading range is now a resistance zone and a potential target zone for possible pullback. 1.56 will also mean a...
$SPY's aggressive pullback pushed the price all the way up to close just below 200$. The price is inside a daily structure zone between the 50 and 61.8 Fib levels. As long as the price is inside the zone there's uncertainty regarding future price direction. A breakout above 200 could lead $SPY towards the final target of this pullback - 204-206$ (according to...
The bullish Crab I traded recently in $GLD reached 2 out of my 3 potential target levels. The third target was the 200 daily SMA line but with the price closing last Friday below the important 110 structure zone and below its 50 days MA, I'm not sure gold will be able to reach there in during the current bullish wave. As long as the price stays above 106$ it...
A small bullish Gartley managed to stop yesterday's decline and push $SPX higher to meet with the same line that he couldn't deal with yesterday. If $SPX will close above the 50 SMA line, it could probably rally towards 2000 to meet the 200 SMA line and the 61.8 Fib level. That's the final target level of the Bullish Gartley setup I've tweeted last night - twitter.com
Previous entry near 1.565 is up about 150 pips and $GBPUSD is 50-100 pips away from final target level - The completion of the bearish BAT near the weekly 200 SMA and a weekly downtrend line. 1.585 is the potential sell zone.
JETS Bat pattern that I posted here few week's ago reached beyond target levels as markets collapsed My blog post about $JETS setup - goo.gl