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SAFEHAVEN YEN Aiming to Test the Lower Trendline Of the Channel Looking at the main chart it can be seen that the price is confined in a channel which is in a current uptrend! However a small pause is likely to occur before the long term price finds the right direction to trend again. Looking at the above 4hr charts, there is a rough head and shoulders pattern that is present and a break of the neckline which also happens to be at the level of 4hr 50 EMA could signal a slight correction towards the ascending trendline of the channel. If a break does occur i will potentially wait for the price to breach both 4hr and daily 50 EMA before going short on this pair. i shall provide any update for entry criteria shall the technical and fundamental picture meet. cheers
Short
by FX618Analysis
NZDUSD daily review The New Zealand Dollar depreciated about 84 base points against the US Dollar on Friday. The currency pair was pressured south by the 50-hour simple moving average. However, the exchange rate bounced off from the lower boundary of an ascending channel pattern at 0.6789 during the morning hours of Monday’s trading session and currently testing a resistance level formed by the 50-hour SMA at 0.6818. If the currency exchange rate passes the 50-hour SMA, the next target will be near the upper boundary of a descending channel at 0.6864. Although, if the resistance level holds, a potential breakout could be expected within this session.
by UnknownUnicorn890690
USDCAD daily reviewThe US Dollar is trading in a triangle-like formation pattern against the Canadian Dollar. The currency pair tested the lower boundary of the triangle pattern at 1.3340 during Friday’s trading session. Currently, the exchange rate is trading near the bottom border of the pattern and could be set for a breakout. If this breakout occurs, the currency exchange rate will likely target a swing low of 1.3320 within this trading session. On the other hand, if the support level formed by the 100-hour SMA and the weekly PP at 1.3374 holds, the rate will move north towards the 1.3419 mark.
by UnknownUnicorn890690
Ripple: Back on track.Recently American Express tested Ripple’s xCurrent solution for cross-border payments and happy with the results. General managment of American Express admitted that the technology could speed up the international payments. American Express bets on the potential of blockchain technology and invests heavily in fintech research and development. Im more likely to believe, this is a huge step for Ripple. Currently, XRP/USD is trading at $0.3121, off the recovery high of $0.3081, at the time of writing, raised 0,42%. The second largest coin with is getting back on track and recovering well. The coin capped at $0.33 handle, followed by $0.3330 (SMA50, 4-hour chart). If it is cleared, the upside may be extended towards $0.3544 (SMA100, 4-hour). On the downside, the local support is created by $0.3100. Once below, the recent low of $0.2897 will return into focus. Have a good start of the working week guys, stay alert for market to rise ( I believe ) and trade on your own risk.
BITFINEX:XRPUSD
by Emily_Brown
ETH: Are we getting green? ETH finally was trading all green on Monday. Unlike the previous two weeks, this week seems to bring more good vibes for the coin as it has seen a massive surge in terms of price. According to CoinMarketCap, Ethereum was trading at $115.16 with a market cap of $11.91 billion, but by the time of publishing ETH has $11,076,611,882 market cap and trading at $107,7. Looks like bull’s side is overpowered by the bear’s side. The bear has the allegiance of MACD, RSI, and Klinger Oscillator from the one-day chart and the CMF’s from the one-hour chart. However, the bull is supported by the Parabolic SAR from the one-day chart.
BITFINEX:ETHUSD
by JaneParker
2
US Dollar Index At Support LevelFirst let's start by looking at the monthly candle. USD Index lost over 76% of its gains from the low 95.50. Although the month is not over, there's a question to be made whether USD peaked @ 97.00 level. As we look at the weekly timeframe, USD index put in a shooting star for the week prior, also what I considered a dark cloud cover pattern. It's tough to say what this week entail for US Dollar, or even next week. But unless we see a major bull run on these next few days of this week, it is bearish. Sell on every rise! - just my opinion. Happy Trading, folks! Cheers!
TVC:DXYShort
by Kav1ka
USD Breaks Above Monthly TrendlineTo start the month of August, our expectation was for the King Dollar to retest the highs before moving lower. That, however, wasn't the case as USD closed above the monthly downtrend line. If you have been following this analysis for a few weeks back, price levels and trend line hasn't changed a bit (except for a couple add-ons - update). Looking even further into price momentum, it seems as if the break of the trend line offers fresh new leg to more bullish price action in days ahead. Happy Trading, folks! Cheers!
TVC:DXY
by Kav1ka
Selling Yearly Triple-Top For September USD Index Futures (DX)Wednesday’s FED Announcements have produced bullish action due to the statements issued. For the intermediate-term, the USD Index is likely to grind higher in anticipation of a hawkish FOMC Minutes release and upcoming September FED meeting. The last three sessions have been big for September USD Index futures. Price has broken above topside resistance on the daily chart. For now, this market appears poised to test the yearly Triple-Top present in the 95.220-95.440 range. Here is the short trade: 1)Entry: Sell 95.220 2) Stop Loss: 95.505 3)Profit Target: 94.935 4)Risk Vs Reward Ratio: 1/1
DShort
by FXLeaders