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Where’s the Bottom? The first level of support for SPY is $261~$262. We believe this midpoint of 2018 high to the low trading range will offer a fairly strong support level for the SPY to attempt to set up a price bottom. Below that, the $234 level (the lower range of the 2018 trading year) would provide very clear support for the SPY. The same type of price theory and expectations are at play on this chart as with the YM chart above. The YM has already reached our first level of support, yet the SPY is still $12 away from this first support level. This would suggest the YM may begin to set up some type of price support while the SPY may continue to trail a bit lower over time. If this first level of support does not hold, then we would be looking for the 2018 price low levels (near $234) to become the next target for support. Ultimately, the price must either continue to attempt to break previous low price points as it attempts to establish “new price lows” or, at some point, it will fail to break past lows and that is where it will find support. The midpoint, often called the “belt line” (a Japanese Candlestick term) is used by technicians for two reasons: first, it represents 50% of a defined price range and, second, Japanese Candlestick theory teaches us the BeltLine is “the center of control” or price. Once price breaks this level, then further trending may continue.
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by CeoCodes
Bitcoin Finally Finds Support at the $4,000 Level: What's Next?Bitcoin just had a liquidity moment. Perhaps it is related to liquidity issues and selling as discussed in Bond Market Dislocation: What the Hell is Going On? There is every reason to believe Bitcoin has more liquidity moments ahead of it. Bitcoin briefly fell below $4,000 then started a rebound. Where to from here? I managed to catch a screenshot of Bitcoin right after it crashed through the $4,000 mark. At that time it was down over $3,718, about 48% on the day. Buyers then stepped in pushing the price back over $5,000, a rebound of over $1,000 in a matter of minutes.
CME:BTC1!
by CeoCodes
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XAU/USD, “Gold vs US Dollar”After forming a downside continuation pattern around 1638.98 and broken it downwards, Gold has completed the descending wave at 1555.55. Possibly, today the pair may form one more ascending structure to reach 1594.22. In fact, the instrument is expected to start a new rising wave with the target at 1768.50. Gold prices have fallen sharply amid a massive market panic, that pushed everything lower – including the normally safe-haven precious metal. How is XAU/USD as a mad week draws to an end? The Technical Confluences Indicator is providing good news for gold bulls, with strong support at $1,581, which is the convergence of the Simple Moving Average 5-4h, the Fibonacci 23.6% one-day, and the Fibonacci 23.6% one-month.
OANDA:XAUUSD
by CeoCodes
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USDCAD Chart — USD to CAD RateUSD/CAD corrects from multi-year tops, slips below mid-1.3800s amid rallying oil prices The USD/CAD pair dropped to fresh session lows, around the 1.3825 region in the last hour and eroded a major part of the overnight gains to over four-year tops. The pair witnessed an intraday turnaround and retreated around 120 pips from the Asian session swing highs to mid-1.3900s amid a goodish rebound in oil prices, which underpinned demand for the commodity-linked currency LEVELS Previous Daily High 1.3961 Previous Daily Low 1.3708 Previous Weekly High 1.344 Previous Weekly Low 1.3315 Previous Monthly High 1.3465 Previous Monthly Low 1.3202 Daily Fibonacci 38.2% 1.3864 Daily Fibonacci 61.8% 1.3805 Daily Pivot Point S1 1.3767 Daily Pivot Point S2 1.361 Daily Pivot Point S3 1.3513 Daily Pivot Point R1 1.4021 Daily Pivot Point R2 1.4118 Daily Pivot Point R3 1.4274
by CeoCodes
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OIL PRICE WAR..Saudi Arabia/U.S/russiaThis weekend Saudi Arabia dropped the oil bomb. It not only cut its forward crude price to Chinese customers by as much as $6 or $7 per barrel but is also reportedly looking to raise its daily crude output by as many as 2 million barrels per day into an already oversupplied global market. Look out below. The move by the Saudis is both a market share grab and a loud signal to Moscow that it’s done playing games. The dramatic action is in response to a contentious and ultimately failed, OPEC meeting in Austria on Friday. OPEC members laid out a proposal to further cut oil output quotas by as much as 1.5 million barrels per day. OPEC itself was aligned on the deal, but non-OPEC member Russia said “nyet,” effectively killing it. A source inside the negotiations tells me that as the two sides worked out production cut plans, in the end, the “red lines weren’t even close.” The source added that the Russians “definitely don’t want to continue to support shale” at least in part because the Rosneft sanctions were still “too raw.”
OANDA:BCOUSDShort
by CeoCodes
FTSE China A50 Index | FTSE RussellThe Index tracks 50 of the largest and most liquid companies in China. These equities trade on the Hong Kong Stock Exchange (SEHK) and are weighted based on market cap. Hong Kong's Hang Seng index slid 3.8 per cent and China's Shanghai composite fell three per cent. '£130bn' wiped off FTSE 100 as oil stocks ... The FTSE China A50 Index is widely viewed as a primary barometer of China's economic performance. It is traded via CFD, ETF and standardised futures ...
C
by CeoCodes
Wall Street Might Bleed-out On Corona FearMajor U.S. stocks closed mostly lower on Wednesday. The Nasdaq closed up 15.16 points or 0.2 percent at 8,980.77, the Dow slid 123.77 points or 0.5 percent to a four-month closing low of 26,957.59 and the S&P 500 fell 11.82 points or 0.4 percent to a nearly three-month closing low of 3,116.39. On the economic front, the Commerce Department's Durable Good Orders for January will be released at 8.30 am ET. The consensus for new orders is a decline of 1.2 percent, while it was up 2.4 percent. Gross Domestic Product for the fourth quarter will be issued at 8.30 am ET. The consensus is for an increase of 2.1 percent, unchanged from the prior year. GDP price for the quarter on quarter is expected to increase 1.4 percent.
NASDAQ:NDXShort
by CeoCodes
DAX Index Overview / Germany 30 Prices DAX 30 | CLINGING ONTO SUPPORT The DAX fails to escape the equity carnage as the closes the week with losses of 2.9%. After the Fed provided an emergency cut, all eyes will be on the ECB as they look to announce a series of measures to aid the Eurozone. On the technical front, the DAX remains weak with bounces proving short-lived. That said, 11,500 has held thus far for the DAX, although with risks remaining tilted to further declines, eyes will be on the July 2019 lows. Name S3 S2 S1 Pivot Points R1 R2 R3 Classic 10168.69 10297.61 10403.52 10532.44 10638.35 10767.27 10873.18 Fibonacci 10297.61 10387.32 10442.73 10532.44 10622.15 10677.56 10767.27 Camarilla 10444.85 10466.38 10487.90 10532.44 10530.96 10552.48 10574.01 Woodie's 10157.19 10291.86 10392.02 10526.69 10626.85 10761.52 10861.68 DeMark's - - 10350.56 10505.96 10585.39
XETR:DAXShort
by CeoCodes
CNYEUR Chart, Rate and Analysis — TradingViewCalculation For Trading: Resistance Level: 7.955 Resistance Level : 7.891 Resistance Level : 7.846 Support Level : 7.738 Support Level : 7.674 Support Level : 7.630 If you are looking for Forex pairs with good return, EURCNY can be a profitable investment option. EUR/CNY rate equal to 7.787 at 2020-03-03 (today's range: 7.747 - 7.802). Based on our forecasts, a long-term increase is expected, the Forex rate prognosis for 2025-03-01 is 7.799. With a 5-year investment, the revenue is expected to be around +0.15%. Your current $100 investment may be up to $100.15 in 2025.
Short
by CeoCodes
USD CHF Chart - Dollar Franc RateAn additional signal in favor of the growth of the Dollar Franc currency pair will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower bullish model «Wolfe Wave». Cancellation of the growth option USD/CHF will be a fall and a breakdown of the area of ​​0.9445. This will indicate a breakdown of the lower boundary of the model and the continuation of the fall of the pair on Forex with a target below the area of ​​0.9175. Confirmation of the growth of the pair in the current trading week March 2 — 6, 2020 will be a breakdown of the resistance area and closing of quotations above the level of 0.9995
by CeoCodes
Trade Gold (XAU) / Invest in Gold DIAMOND LEVELS For charting weekly support & resistance DESCRIPTION & HOW TO USE THE ALERT: Diamond Levels automatically derives live Support & Resistance Price Levels & shows a graphic signal above or below price on the chart. A directional long/short alert can then be set from the chart indicator to give a live notification of price crossing these price levels. These Support & Resistance levels are derived from live p Diamond levels can be used alone for long/short signals or used as a visual aid to assist in identifying levels on the chart. This alert will show Support & Resistance levels for the weekly timeframe with the current level clearly highlighting possible price turning points or breakouts. Diamond Levels allows easy determination of levels than can assist in identifying trade entry, profit, target or reversal levels for chartists. Advantages: Alert displays forming support & resistance levels Limitations: If market price breaks the level it will give a new signal at the next level. Disclaimer: Past performance is not indicative of future performance. No representation is being made that any results discussed within the service and its related media content will be achieved. All opinions, news, research, analyses, prices or other information is provided as general market commentary and not as investment advice. CEO.CODES, their members, shareholders, employees, agents, representatives and resellers do not warrant the completeness, accuracy or timeliness of the information supplied, and they shall not be liable for any loss or damages, consequential or otherwise, which may arise from the use or reliance of the CEO.CODES service and its content. © 2015 CEO.CODES CEO.CODES indicators are built for TradingView. CEO.CODES is on no way a part of TradingView.rice which means the indicator will give a new level once the previous level is broken. By visually laying out Support & Resistance levels on the chart with red & green diamonds, this indicator allows complex live Support & Resistance levels to be identified and used correctly.
OANDA:XAUUSD
by CeoCodes
EUR/USD Exchange RateEUR/USD Exchange Rate Once you start getting used to the signs of breakouts, you’ll be able to spot good potential trades fairly quickly. Breakouts are significant because they indicate a change in the supply and demand of the currency pair you are trading. This change in sentiment can cause extensive moves that provide excellent opportunities for you to grab some pips. This indicator will show Support & Resistance Levels for the trading strategies with the current level clearly highlighting possible price turning points or breakouts for price action trading. EUR/USD's decline extends to as low as 1.0793 so far and broke 161.8% projection of 1.1172 to 1.0992 from 1.1095 at 1.0804.
by CeoCodes
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