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BTCUSD – Rising wedge formation coming to an endBulls are pushing the top 1-week resistance line to break above, below EMA50 is the support.
Rising wedge formation is ending as bitcoin finds new buyers each time at a higher level.
A break above the resistance might trigger the next spike.
EURUSD – SHS formation to close at 1.17201.1850 was critical yesterday, and the price bounced back from this level down to 1.17s.
An SHS_top (1.1720 -1.1850 – 1.1960) shall form in case today's selling interest drags the price back to 1.1720.
EURUSD – Need to watch buying interest around 1.1850Both FOMC statement and Yellen speech was encouraging in my opinion, but the market seems not satisfied with these.
Technicals are turning a bit bullish (maybe the payback for bad US CPI_figures).
1.1850 will be critical today. A reaction from this level may drag the price back again to 1.17s, or further buying interest might lift the price back to November highs at 1.19s.
EURUSD – cannot find buyers above 1.1800Correction seems limited.
Bias is bearish as far as price stays below 1.1850.
Gold – Sharp break at MA200 and cycle low intersectionMA200 (daily) and cycle low (of 2017 rally) intersection support was broken last week, and the price extended down to 1245 again.
Having declined $50 a week, the price action is too stretched now. A correction seems to follow before the next short opportunity.
Also to be noted that the break might be a “bear trap”, break not confirmed yet.
I booked profits for now, and looking for either of the following points for a possible short entry.
a_ In case of correction, a reaction from 1260-1265 band from above
b_ In case the price continues to decline further, just below Fibo 78.6 level (1239)
Staying below MA200, and extending down below 1239 (Fibo 78.6) shall confirm a long-term bearish trend in my opinion.
BTCUSD – Price action trying to make 90-degrees angle???Still waiting for a pullback to catch the next opportunity…
AUDUSD – Back again at channel bottomPrice declined back to the 2-year channel bottom again, which completes (abcde) zigzag pattern.
This point also coincides with 78.6% Fibonacci retracement level of 0.7330-0.8120 uptrend (May to September rally).
If channel bottom support is broken, this will be a confirmation for a strong bearish flag formation.
From a fundamental point of view, AUD_ is under pressure as RBA is dovish on further rate hikes. Meanwhile the sharp drop in gold_prices also put additional pressure on AUD_ last week.
The currency pair mostly depends on USD_ strength now. This week’s FED meeting will determine the direction: either a break or bounce from channel dip.
EURUSD – Seems like EMA200 break downwardsFollowing the EMA line series:
EMA25 – EMA50 cross pushed the price down to EMA200 level yesterday.
Now it seems that EMA200 line is being broken, but not confirmed yet.
Today we have Draghi speech, during which I do not expect to hear anything new.
Following yesterday’s ADP NFP figures coming “above expectations”, USD_bulls were motivated for tomorrow’s NFP data.
I remain short as usual, waiting for 1.1730.
BTCUSD – Critical test point on previous (broken) support lineCycle low line broken during the weekend, even down to 5500s. Malheureusement I missed it :((((
Now the price climbed back to the broken line, let’s see whether it would work as a resistance or not.
Uptrend might resume by sustained break above this potential resistance.
EURUSD – Sharp reaction from 1.1680 is on the wayHoney comb is broken, and the bear tasted the honey… I remain bearish…
A busy week is to come with critical events. Any event resulting against Euro shall drag the parity down the way to 1.1430. But in contrast, I don’t think that the events supporting Euro will carry EURUSD significantly higher.
SHS neckline level 1.1680 is broken (undersigned by ECB), and in my opinion this level will be a long lasting resistance level in the coming months.
EUR became the weak side. Any signs of USD strength shall move the price to a lower low, and in case of USD weakness I expect no winner but just a consolidation.
Gold - Still consolidates, direction not clear yetThe price is stuck in 1270-1280 band since 20th October, which is unusual for gold_ market. Neither bulls nor bears are strong enough to push the price out of the band.
The limits of consolidation zone seems to work quite better than other technical indicators.
Basing on the market expectations on USD strength, I remain bearish as long as the mid-October high level_1305 is not broken.
Gold_price could not break above _1290 even after the disappointment on US Senate tax plan last week, instead we saw a sharp reaction from the latest supply zone.
This week is full of economic data and speeches from Central Banks. I hope we can see the expected volatility during the week.
Themis tries to bring justice to the market, but this is not the way gold_market works…
BTCUSD – Cycle low strength to determine directionWednesday’s pin high level (on 4H chart) ~7900 was the signal for correction. Price rebounded back to cycle low level ~6400.
I think the reaction from cycle low line will be under test during the weekend. Neither direction has been confirmed yet.
Need to follow and confirm rejection from the cycle low or break of this line before taking position.
BTCUSD – Looking for one more upward moveFollowing the higher high level (5800) of last Friday, I expect the price either to retrace or consolidate before making the next move for +6000.
The bullish momentum is still active, but needs to breathe for the next spike. I will be watching for the possible dip points to long, no clue until now.
The ballerina shall make an elegant sauté …..
Gold – Lower high series continueGold_ price could not climb further above the Monday peak of 1306.
If it was able to reach above 1313_ level, that would be a bullish signal by a new higher high. But rebounding from 1306 level forms another lower high.
Lower high series starting from 1357 continues, and the bias is still bearish in my opinion.
EURUSD – Short days are to beginSHS_ formation moves to almost completion.
The price faced a strong reaction from MA200 on 4H chart and bounced back downwards.
Downtrend signals becoming more obvious as time passes, maybe it’s the time now to see a lower low on the right side of the chart.
BTCUSD – Consolidation band 5400-5800Following 4200-5800 spike, the need for a consolidation or a correction was obvious.
Price seems to consolidate within 5400-5800 band, 5800 level acting as a tough resistance for now.
Watching which way the band will be broken, and still looking for a long opportunity for the next spike.
Eucalyptus just above 6000…
Gold – Seems bullish again but still to be confirmed(1) Gold price retraced back from Fibo 61.8 and broke also Fibo 38.2 retracement. In my opinion this picture is a bullish signal as far as it stays above Fibo 38.2.
(2) On 4H chart, EMA200 broken upside. But MA200 still resisting.
(3) Red resistance line active since September.
(4) Orange support line may work as a resistance line.
1300 psychological level was broken easily??? This makes me feel uncomfortable about a possible bull-trap.
I will consider to take long position only if the price breaks all the resistances noted above and stays above 1310 (blue point on the chart). Otherwise, staying out of the game seems safer.
EURUSD – Too fragile around 1.1800SHS_ formation became more apparent. EUR waits just for a finger touch to shake it and direct it downwards.
Then we will have a lot of support levels to discuss till next spring.
BTCUSD – Price action over-stretchedSince last Friday, bitcoin prices spiked from 4300 to 5800 high of last night, making a range of 1500$. The price seems over-stretched and maybe needs to breathe a bit.
(1800-5000-3000) Fibo extension level 0.786 was reached at 5400, even broken up to 5800. This makes a new higher high.
The higher Fibo extension level 1.000 around 6000-6100 seems to be the next target for the bulls, but a consolidation or a retracement is required for a stronger uptrend.
Today’s US CPI_ figures shall be watched before taking position.
