We have detailed our bias more on our website:
But a couple of key technical point are that there is a nice falling wedge pattern in the long term view, coupled with a recent breakout of this wedge.
USOIL: LONG bias
1. Forming a large monthly inverse H&S
2. NEW bullish trend
3. Forming a Daily inverse H&S
4. Pulling back to value area
5. Key Line support area
6. Trend Line support area
7. Fib 0.5 - 0.618
Here we see the chart looking a bit more bearish than bullish as a clear rising wedge pattern has occurred.
MACD has been diverging for over a week now.
A break and close the 4hr 50 ema would be a confirmation this has a high chance of heading lower.
FOMC announcement may take this lower if its nothing great and ...
We have the USDJPY in a massive over exhausted downtrend on the daily.
Daily bullish wedge.
VERY long term trend line rejection after Brexit
VERY key support line from 2014
Deceleration, failure to break brexit lows
Doji candle on Friday 8th July
Along with these excellent technical's there is also a ...
This is a Monthly chart of USDJPY, this one has caught our eye the most as it has broken out of a major long term downtrend back in 2014 and since hasn't looked back until now, this lines up perfectly as a potential value zone where big money may look to step in.
1. Break and retest of a ...
1. Daily Inverted Head and left shoulder formed
waiting for right to be formed for confirmation.
2. VERY bullish MACD divergence and clean
3. Key supportive line @ 108.000 - last touch was sep-oct 2014
2014, historical support going to 2007-2008 and 2003 - 2005
4. Fib 0.5 level and 108.00 align ...
This has been on our watch for 2 months watching and waiting for clear decelleration + technical confluence to look to get lon, and this weeks finish looks to have completed that, breaking out of the Bullish wedge upon many key confluent areas as highlighted on the chart.
This all stacked together looks like a ...
AUDUSD has been in a massive bear market for over almost 4 years, the FED has been kicking the interest rate can down the road and has got quite tiresome to say the least, USD on the DXY look very bearish now.
We are looking at this as follows:
Pullback to value, get long on good technical signal.
This has been on a relentless selloff for nearly 2 years, oversupply is currently in place, but if that changes with OPEC etc then demand may return (albeit temporarily), to start up a mini bull market for oil but we doubt it will go much higher that $45.00 in the near future and in fact maybe lower lows.
Our bias is currently Neutral but until the 4hr 50/60 ema is cleanly broken and re-testest as new resistance then its in a neutral stance, IF however the prior mentioned happens then the stance will be bearish.