EURUSD has been ranging between 1.1550 and 1.0305 since January 2015 (check out the weekly chart). Highlighted in red boxes are the key areas of (my) interest where I see price moving in the coming weeks/months.
ECB's Mario Draghi hinted recently that the Eurozone's economy was possibly now strong enough to consider raising the key interest rate, from its zero...
Gold could drop another $25 next before starting a fresh proper rally. I expect it to return to and breaking the 1240 level, which will continue its ascend towards the 1300 levels.
I will flip to short if it breaks and holds below 1180.
We are entering a crucial period for precious metals aka the safe havens. Personally, I am bullish on gold and silver, and not so much for USD, regardless of any time period because those are real money.
Comments, criticisms, thoughts, opinions, all welcomed.
DXY is indicating slight weakness (possibly just a retracement). BOC's Poloz speech put USDCAD on steroids last night.
I've actually shorted this pair from 1.33545, so I'm around ~40pips in profit at the time of writing. I expect the price to dip a little bit before shooting back upwards towards the upper trendline. However, if it breaks below the WPP (light blue...
Price is compressing in this little area. Despite gloomy outlook continuing post-Brexit, GBP bears have not really been able to take control on the back of good UK data last week. But as we run out of space, we can expect price to give in to downward pressure and flip GBPUSD bearish.
GBPUSD is seen going sideways in a 600-pip channel since the UK referendum in June. I placed EURGBP in shades of grey just for reference.
I had hoped the support level around 1.295 would be enough to push price upwards towards 1.35 (maybe not quite reaching it, but somewhere close). However, looking at today's candle, we might see it touchdown at post-Brexit lows...
Someone I follow (check out his ideas!) had posted a similar idea earlier and I'm building on it. Following up on my previous ideas. Watch out for the little retracement before going upwards towards the upper line of the channel trend.
Following up from my previous ideas (which followed beautifully down from the top of the extended pitchfork - I'm happy and still surprised by it btw). Who would've thought the Fed would be hawkish last Friday, eh?
Price is resting on the 0.618 line enroute to the median line. There's small chance of it bouncing upwards a little bit, depending on what ECB plans...
USDJPY has been ranging in this little area for the past few days now. There isn't any clear indication where it'll go to in the long run (overall, however, on the daily chart, it's downtrending - see my linked idea).
Here we see a triangle formed and if price were to break out below, I wouldn't expect it to go out too far from the box, but if breaks on the...
Once again, words fail me so I'll make this brief.
As I'm expecting EURUSD to drop significantly (possibly to parity in the coming weeks/months/etc), I'd expect the same movement for EURAUD - that is assuming AUD itself doesn't roll over and die too.
Looking at the daily timeframe , EURUSD 0.01% has been on the downtrend since May. Given current economic uncertainty, I don't see this changing anytime soon so I expect the downtrend to continue for some time to come.
Featured tool: Modified Schiff pitchfork
(I'm relatively new to trading so this is a kind of a revelation to me.)
Price is now at an important support level. Break this support would mean price may go down further towards 100.00 mark (or maybe even lower), but I'd expect the BoJ to spring into an aggressive action via an intervention (something which they aren't shy of doing).
Personally I'm inclined for USDJPY to go long from this point, but I'm not so sure since it has...
Price has so far respected the mini trendline but it's running out of space. If it does not break the trendline of the hourly channel, we can expect price to drop into the lower 4H trendline (or even below).