Antonio_trader

Antonio_trader

The DJI did not close below the 200 SMA on a daily timeframe since June 27th, 2016. This is a major signal, which could be one of the reasons Trump decided to ease the tensions with China, at least for now. Potentially expecting the Fed to back off the rate hikes to lower the dollar or make some announcement stop the drop in indices. With all the tensions now, a...

Antonio_trader

So, as expected, USOIL broke out of the falling channel on the upside on the impulsive candle, jumping up 2 dollars in 4 hours. Now price is stalling at the 50% retracement of the falling channel and, more importantly, 200 SMA. If you did not get into the trade on the break of the channel, there is potential to enter again on another impulsive move up. A...

Antonio_trader

With second earnings this year coming up on Thursday and a market cap of $118.35 billion, Nike is expected to have revenue over a $9 billion, last time they managed that was in September 2017. The company had exceeded expectations for several quarters now. On a technical side, the price tested level 76 for two days but got rejected from the overbought area. Now...

Antonio_trader Updated 

After testing $80 level for a few days, BRENT price has been in a falling channel, making lower highs and lower lows. Iran sanctions and rapidly escalating economic troubles in Venezuela create problems for the world oil supply, but Russia and Saudi Arabia seem ready to increase supply if necessary. June 22nd meeting in Vienna of OPEC should set the direction for...

Antonio_trader

After a great rally, Twitter price has been consolidating and now seem to have formed a symmetrical triangle. While second quarter earnings are not far away, a break on the upside would be a continuation signal to go long. Happy Trading!

Antonio_trader Updated 

Price action of JP Morgan Chase has been converging, failing to make new highs and now testing daily trend line for the 4th time, which is also in line with 200 SMA. A 38% retracement level is below, but major support is $102, where price previously gapped higher in November 2017. A break lower could be seen as a short opportunity or the price will bounce higher...

Antonio_trader

After completing the double top pattern, the audusd now formed a double bottom with good RSI divergence in the oversold area. The break of the resistance line would be a good probability confirmation to go long with first target at the 38.2% retracement, but price might stall at 0.7426 resistance. Most aggressive stop at 0.7411, or lower if you prefer a safer...

Antonio_trader

After news release that Starbucks closes 150 coffeshops, we had 2 big selling days. Breaking through one confirmed trend line and now testing another big one from the beginning of the trend. This could be a good buying opportunity to trade a bounce with a good risk-reward ratio, stop below the 50 or 49, 1st target at the previous trend line . Alternatively a...

Antonio_trader

After testing 12.79 for two weeks and retracing to 38.2%, GE seems to continue its sell-off, which started back in January 2017. Today, GE got kicked off the Dow Jones list and replaced by Waldgreens Boots Alliance, a drugstore chain. GE is the last company from the original list of the Dow, it was there for over a 100 years. This adds to the bearish...

Antonio_trader Updated 

The company is listed on London Stock Exchange shows amazing respect for Fibonacci levels. The selloff after reaching all-time high in December 2015 made 2 touches on the 61.8% retracement level. The retracement starting from the all-time high to the low of the selloff is now also showing the stock price respecting all Fibonacci levels. Making 3 touches on the 38%...

Antonio_trader Updated 

Tesla has been having the best month so far. Growth is spiking with barely any bearish days. Today price action breaks and closes above the $360 resistance level (3.53% up!) that was tested multiple times since October, 2017, opening the doors for higher targets. All-time high at $390 is the next major level. Investor sentiment is positive so far despite recent...

Antonio_trader Updated 

After yesterday’s dovish Draghi and strong retail data from US, we saw the dollar index sky rocket. After briefly retesting support yesterday, it shot up to test the 95 level again, a very strong resistance now. Today could be a day for retracement and some price action stabilizing. Mario Draghi seems happy to with weak euro, perhaps in preparation for trade...

Antonio_trader Updated 

After breaking through the trend line and 61.8% retracement last week, USDCAD is now testing a strong resistance area. With dollar strength last week (DXY is testing 95 level now again), a break above the current resistance area provides a good buying opportunity. Currently the pair is very fundamentally-driven. Trade war jitters between US and China will have...

Antonio_trader Updated 

After Friday’s massive sell off, precious metals including gold lost a lot of ground. Gold going from 1301 to the low of 1275. It also made a 3rd touch on the next trend line and bounced up, testing it today again. Trade war tensions brought back to the front of the world news play a decisive factor in the future price direction, check Trump’s twitter for updates....

Antonio_trader Updated 

After OPEC' announcement about global demand decreasing yesterday, it put downward pressure on oil. Canada being a major oil exporter have a very oil-affected currency. Decreasing oil prices usually weaken the CAD. ECB is expected to start decreasing their stimulus programme tomorrow, while keeping rates unchanged. Press conference after the rate will be the key...

Antonio_trader Updated 

After making new all-time highs with the recent bull run, technical side indicates that the price momentum is running out of steam. Divergence on RSI from overbought zone indicates a potential double top. Also, today’s candle forms a shooting star, but we need to see the close of the day. Taking Elliot wave into account, this could be the end of the 5th wave,...

Antonio_trader Updated 

Today despite the historic event in Singapore, with Trump and Kim signing the agreement for cooperation and denuclerisation. Sanctions remain so far for North Korea but it is a start. Market reaction has been muted so far, since we are waiting for FOMC interest rate decision and ECB as well in the coming days. EURUSD formed a symmetrical triangle after executing...

Antonio_trader

EURAUD pair tested a down trend line today, making it a 4th touch and highly strong. With markets in waiting for today's FOMC and tomorrow's ECB, the direction of the trend so far remains bearish, but ECB is expected to announce the reduction in QE, which should strengthen the EUR. a break of the trend line and latest lows should be a good buy signal for the pair....