Now that the EURUSD has thrusted down out of the bearish triangle pattern, prices have fallen to the profit target and are near the Monthly S1 support level. Also, scroll out to a daily chart on the EURUSD (not shown). The November 7, 2013 daily candle drafted a very large wick to the downside which is another level of support near 1.33. What makes the bullish...
Hi people, It's been a while since I was here last. I like the look of the place and plan to stick around for a bit. Right..A fairly rudementary analysis to start with. We have a EURUSD monthly chart here going back all the way to the beginning! Given that the fundamentals are stacked heavily against EUR, I am expectting some weakness to materialize in this...
I'm long this one as price seems a long way from its equilibrium on the daily charts so I expect some form of mean reversion back towards the Kijun line at around 1.3523 but the first target would be somewhere around the 1.3440 (the underside of the kumo on the 4 hour chart. On this time frame specifically I have traded a set-up which is a form of a weak...
As you know I put out a buy on EURUSD on Friday. Market dipped and triggered my stops along with quite a few others I'd imagine. But with the support level holding on the daily chart I've decided to go long again. It appears like the USD may have gasped it's last breathe
The weekly timeframe still shows buyers and sellers battling it out within weekly demand at 1.34760-1.36314, while on the daily timeframe price still remains capped between daily demand at 1.34760-1.35265 and daily supply above at 1.37297-1.36879. The 4hr timeframe shows sellers broke the round number 1.36000 early Friday, with price being seen retesting it late...
Updating my chart. Yes it follows the pattern. Correlation pairs tend to cross each other
Note: I got rid of NZD/USD and USD/CHF. NZD/USD pretty much correlates with AUD/USD while USD/CHF correlates with EUR/USD, so I figured it was redundant to analyze both pairs. ------------------------------------------------- Interesting Pairs: AUD/USD - Bearish - Price tested the broken trend line last week and bounced down - Price retested the same price...
The "ECB hammer" failed to play out as a reversal and instead price has no sunk to recent support at 1.35. With the stochastic turning up a few positive days can move price above the LSMA and create a bullish signal. In the big picture price is trading in a broad range between 1.34 and 1.40 with minor levels of support and resistance in between. Let's see if...
Friends, A very quick note here highlighting both a long-term pattern development found in a wedge, which I have overlaid over the results of my predictive/forecasting model, whose targets are defined as: 1 - TG-1 = 1.43744 - 04 JUN 14 and 2 - TG-Lo = 1.40384 - 04 JUN 14. With ECB decisions coming up tomorrow (05 JUN 2014), the Forex community may or may...
Some possible support between 1.3400 & 1.3750 ? back towards 1.3800 and then sell it short again. Perhaps maybe. How do I get my "Reputation Score" up? Please give me a thumbs up when this chart works, and if you can tell that my past charts have worked. They're working for me. Thanks.
Sometimes, we do forget to focus on the forest and therefore on on big picutre, because we are stuck focusing on one tree. On the big picture, we see 3 inputs, which are QE1+QE2+QE3 and there effect on the market, the relaunch of it, the ending period and the effect on EURUSD. With the end of QE3, baring in mind that FED President Yellen is still keeping the...
On Daily chart it is is in uptrend since July 2013. After big, ignited, red candle on 20th of March it entered into range-bound market and bounced up well off major trend line. Till now it built series of lower high and higher lows (wedge) and gave opportunities to trade both sides (selling from wedge highs and buying support). On Friday when US job report was...
Friends, TRADE PROFILE: Only three days ago, I took the opportunity of a long entry based on a daily chart which confirmed support near the 87.350 level. A layered analysis comprising my prop predictive analysis and forecasting favored a bull directional bias with a series of bullish targets of moderate-probability quality. Despite being a technical analyst, I...
Daily chart still in major uptrend but it is more range bound market, so it makes sence to trade tactically both sides. After it failed above resistance zone pair established downtrend. Broke below previous low of the day means that sellers are interested in lower prices. Significant support zone 1.38509-550 where i can take some off from my short position,...
Despite continuous effort from various ECB members to talk it lower, the Euro remains strong. This led ECB President Draghi to state over the weekend that “the European Central Bank will ease monetary policy further if the euro keeps strengthening”. EUR/USD gapped 50 pips lower on the open as a result of this, but is now back above 1.3850. Traders have been...