1.15-1.16 is a weekly resistance zone in EURCHF and also the PRZ of a weekly harmonic pattern. The daily chart reveals few technical patterns to monitor: - Trading Channel - Triangle Pattern - 2 MA lines A breakdown and a close below these elements can trigger a bearish move that will drive EURCHF further down towards the harmonic target zones. Thoughts? You...
Call it impressive Call it insane Call it power Or call it market manipulation I call it reality. This is our market right now. N. Korea... Brexit... U.S debt....Jobs....Greece? Trust only price action. Hear nothing else.
XLK just completed its 3rd weekly Pinbar pattern inside the PRZ of the bearish Bat I've mentioned in my previous analysis. Although there are no clear signs of weakness yet... and we are in the summer...this still should be considered as a warning signal for the bulls and opportunity for bears.
The Cable was boosted last week by BOE. GBPUSD now reached the top of a weekly channel- The same channel that it crashed from its top after Brexit. Potential pullback to 1.3-1.32 (as long as the channel's top holds as support) 1.3-1.32 will be an interesting Buy Zone if GBPUSD will reach there. See reasons described on the chart
13,000 and the current trading channel in focus
Gold is testing the PRZ of a bearish Gartley. Last week Gold broke out of a trading channel... that's a bullish sign but GLD is still inside a resistance zone. If it will break higher, the next potential Sell Zone will be at the completion of a bearish AB=CD pattern (pink). In such scenario 130$, which act as resistance right now, will turn to potential support...
SPX continues to climb higher as we approach FOMC The VIX is pricing no surprise from the Fed or ECB this week. Contrarians trading scenario are shown
Oil is trading inside a weekly trading channel. The price is testing the bottom of the channel and a weekly uptrend line. The price was rejected by a weekly downtrend line Bearish Scenario - In case of a bearish breakdown, Oil can reach to the 61.8 Fib level to complete a bullish AB=CD pattern Bullish Scenario - In case of a bullish breakout, Oil will probably...
In my previous analysis, AAPL's price was near 145$ and my analysis showed that it had the potential to reach 160$ to complete a bearish harmonic pattern... two bearish harmonic patterns. That's exactly what happened. During August, as the buzz around iPhone 8 increases, AAPL enjoyed a bullish boost that drove it beyond the PRZ of the two patterns that you see in...
Draghi is still speaking and despite his address to the exchange rate, EURUSD continues higher... Is it just another squeeze? Feels like it... But, we are trading patterns...not feelings As long as EURUSD will stay inside the PRZ - Potential Bearish opportunity. If EURUSD will break higher - 1.25 is the next weekly structure zone.
Over the last few weeks everyone's eyes were fixed on the triple top pattern that was forming below 1300$ (XAUUSD) and its equivalent near 123$ in $GLD. Well... all those who tried that shorting opportunity got kicked out by last week's rally in Gold. Now Gold has reached the Sell Zone that I've mentioned to my members last week - The PRZ of the bearish Gartley...
Despite Friday's weak jobs report, DXY managed to hold above its 200 weeks MA line and held its weekly support zone. Focus now shifts to ECB and FOMC. Will Draghi downplay the Euro this week? What will the Fed members say this week? Will they promote the Dollar? The Dollar Bulls had their first victory in weeks last week - Can they push the Dollar even...
Draghi is scheduled to speak in about 30 minutes in Jackson Hole. Yellen, that spoke earlier today, has sent the Dollar Index back to test the 200 weeks MA line as support. A critical support zone is being tested...Again. Will Draghi deliver the counter punch in the in the global currencies war and revive the Dollar by playing down the Euro? Conor vs....
$SPY broke below a rising wedge pattern. Technically, the Wedge should turn to a reversal pattern now. But it is the summer...(lots of fake moves) And... $SPY is still above its Fast MA line (support). In the last two years August was the start of a correction wave in the markets. 2015 - 15% correction 2016 - 5% correction Will history repeat itself also...
Question (I know what I'm doing, but I want to read your opinions)... During the last month, EURUSD has been trading around its 200 weeks MA line. 1.17-1.19 was a potential Sell Zone that I've mentioned in my previous analysis. On one hand, EURUSD respects the Sell Zone. On the other hand, EURUSD has managed to close above its 200 weeks MA line for the last...
Where do you think NZDUSD is heading based on this chart?
Potential Buy Zone for USDCAD based on the weekly chart. Looking for a re-test of the uptrend line and the 200 weeks MA line
Update - SPX bouncing from support and moving towards the nearest daily resistance. Will test minor structure, trend line resistance and the 61.8 Fibonacci level near 2470