I expect USDJPY to top around 120 but for the short-term I can see a pull back towards 115-114 area as wave 4. I prefer to be short as there are also chances of the entire rise to be complete and we do not see 120. 114-115 is key support area.
Gold price is expected to make a pull back towards $1,150-$1,190 in order to complete wave 2 down, before the resumption of the larger bullish trend that has started. This scenario gets canceled if Gold price breaks below $1,045 or if the rise from $1,045 turns out to have a corrective pattern.
EURUSD could make one more final higher high towards 1.15 to reach the rectangle target area BUT bulls need to raise their stops and protect their positions as we have bearish divergence signals that could push price back to 1.1250-1.1150. However a break below the blue TL will open the way to re-test the 1.05 lows.
With Stochastic oversold on the weekly chart and turning lower, price got rejected at the 78.6% Fibonacci retracement and targets 833$. This scenario has more chances of success if price breaks below the weekly Kumo (cloud support) around $1,200. My stop is at 1387$
Weekly chart shows price testing weekly Kumo (cloud resistance) and the downward sloping TL as stochastic has entered overbought levels. Bulls need to be very cautious as we can test support at 104$. If broken I would expect more selling to push price towards February lows.
Despite better than expected EPS announced yesterday, price action was bearish as price is being rejected once again at the upper trend line resistance and the bullish flag breakout pattern does not get a confirmation. The only positive signal is the fact that the weekly candle touched cloud support and bounced. ...
The weekly chart in CSIQ is a bullish flag. Current price action shows that price is near breaking out above the flag. Conservative target is 50-55$ while an equal leg upward to the previous upward move can bring the share price towards 60$. The sideways consolidation in CSIQ is most probably over. Short-term ...
Prices open with a gap up today and back test the broken trend line at 1670. We expect prices to move lower towards new lows near 1635-40. More trades and analysis for our Trading2day subscribers at www.trading2day.com
Short term trend up as pattern of higher highs and higher lows continues. Strong horizontal and channel resistance at 472-476$ price area. If prices get rejected and break below 470$ and out of the short term upward sloping channel, then we should expect a move down towards 450$ at least. Confirmation of this ...
Breaking below 486$ will push prices towards the 38% Fibonacci retracement. Support at 470-465 could prove critical for the continuation of the up trend. Resistance is found at 500-510 that is critical for bears.