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Medianlines

The EURAUD AnalysisPrice has stalled shy of the first resistance level (1.4615) and bounced off the median line, continuing corrective sideways price action. The down trend is still firmly in force. The EUR is the weakest of the majors, and the AUD has been quite neutral, so the outlook is bearish. It is quite possible that it's on its way to the level, where the size of the entire move down will be 161.8% of the prior 2013 big correction. However, as price gets closer to the 1.4 handle, the demand should get stronger, so I wouldn't expect to see new lows beneath it. Rather, finding a secure place for a stop beneath the low at 1.4045, I'd expect buyers to get bolder and stall the 2014 decline somewhere between 1.42 and 1.43. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Short
by ForceFollower
EURUSD Short-Term UpThe two weakest currencies, EUR and USD are oscillating within a range, largely located above the strong support of the level 1.3510 and below the key resistance of 1.3735. No particularly strong trend. Recently market has found support at the quartile of an up fork that well describes the corrective nature of the June-July price action. It is quite possible that the next thing we see, will be a retest of the blue median line as well as of the prior minor highs (1.3642). But the general outlook is still rather bearish than bullish. The rally retraced by 61.8%, which means it's not particularly bullish. As price tends to follow the path of least resistance, I find the support levels much weaker than the resistance ones. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Long
by ForceFollower
CADJPY In An Up TrendAs this market is approaching the strong horizontal support level (the range to the left), I expect it to bounce back up again. The outer sliding parallel should help contain price within the regular Andrews pitchfork. The CAD continues to be very strong and it is oversold now, which may give an extra wind in the sails. The JPY - on the contrary - neutral/weak (so let's call it weakish) and relatively overbought. So, nothing wrong in looking to go long around 94.8. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Long
by ForceFollower
4
GBPUSD Buy OpportunityThe cable is approaching the potential buy area: a bounce off the median line at the prior high. 1.733 as a target is still in sight, maybe not in one shot, but the trend seems to be up as long as it hasn't been tested. Stops below 1.7. The GBP is still very strong, whereas the USD is weak. However, both currencies are relatively oversold now, so it is going to be a matter of their relative strength, not just the favourable phase of detrended momentum cycle. If current support at 1.7065 fails, the next support is at 1.694 and even at that point the outlook will be bullish. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Long
by ForceFollower
GBPNZD Ready For a RallyGBPNZD has been following this navy blue Schiff Median Lines' set. Lately fell out of it, but the odds seem to be with the buyers. It may go up, but there's strong resistance up ahead at 1.9755, so I wouldn't be surprised to see it fail to reach the lower MLH and stall at that resistance level. If failed though, another leg down may form. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice.
Long
by ForceFollower
4
AUDNZD In the RangeAUDNZD may be heading for the 1.091 multipivot level once again. But first another test of the magenta median line. The AUD is getting stronger, much more so than the NZD. Found support above the prior major low, broke the basic bear trend line and is ready to make another leg up in this trading range we've seen it since the beginning of this year. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice.
Long
by ForceFollower
3