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AUD/CHF short ideaCurrently watching AUD/CHF as I expect a downward move to break a multiple time tested trend line and 200 EMA. Price is forming an ascending wedge (bearish reversal pattern), MACD showing bearish divergence.
Still early to enter short, I will wait a break and retest of trend line and 200 EMA.
NZD/CAD setting up for a breakout to the downsideHello traders,
wanted to submit my view about NZD/CAD, as the current uptrend seems to be exhausted, failing now to close past 0.9550. Canadian dollar is getting fundamental support from recent oil surge. Weekly MACD showing bearish divergence, personally I will wait for a break and retest of the bull channel bottom trend line before going short. Wish you all good luck!
USD/JPY Trend Support/Resistance With the Italian Constitutional Referendum, the US rate hike, the Euro is most likely to fall from its support. The USD/JPY being parallel to US Dollar Index, the pair is most likely to rise more, after the market correction in the near future. In the coming week, I think the pair is most likely to fall 110-111 level and after that it would continue its bullish move. So its "short" in near future and "long" in the bigger picture.
$SBUX Follow-through $SBUX is following through on a great last two weeks of price action. On a down day in the markets overall, the stock is up over .5%. The next hurdle to get through is the year long resistance level at $58.10. If this can break and hold, the stock has nothing but clear skies ahead.
www.trendyprofits.com
Pound/Yen possibly reaching for July resistance.Expecting trend continuation to reach upper resistance at 142.214. That level was previous resistance back in July. I believe this is a Wedge Continuation type of move and will drop once reaching that resistance level.
There was some previous divergence seen in both RSI and MACD but it's become convergent over the last few days and now it appears to becoming divergent once again. I'm thinking this uptrend will becoming to an end soon and that's my basis for my opinion this pair will drop.