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WEEKLY OUTLOOK SHORT ON CADCHFHi traders: Almost 2 months ago I published my view on CADCHF long in the beginning of June that ended up having a 500 pips movement to the upside. Now, we could experiencing the downfall on CADCHF as it is currently sitting at historical key resistance area of 0.7700. On the daily chart we can see the price action broke out of the .7700, but quickly drop down afterwards, a potential false breakout. This week, we can confirm the bearish momentum on CADCHF by going to the intraday charts for a possible entry. I will be updaing this chart for any short entry on CADCHF. Thank you for your support and feedback.
Short
by jojofang0901
USD/JPY - Daily OutlookUSD/JPY encounters strong support level Contrary to expectations, the weekly S1 located at the 110.11 level proved to be a very strong support barrier. Namely, it managed to neutralize multiple attempts of the currency exchange rate to slide downwards, including the 34-pip fall that happened in the middle of the day, under pressure from the 55-hour SMA. As soon as the pair made a fully-fledged rebound, it started to climb upstairs, crossing the above 55- and 100-hour SMAs. Most likely, the surge will be stopped somewhere between the 111.00 – 111.20 levels, as they represent a location of the combined resistance level formed by the 200-hour SMA and the weekly PP. On gradual decay of the upside momentum also point out certain technical indicators, suggesting that strength of the uptrend is coming to an end.
by UnknownUnicorn890690
USDJPY Weekly Outlook | Seller Territory? |As we can see here on USD/JPY There's not really obvious trendlines so i'm playing pure price action here so the market already turn into seller's territory the price is keeping "breaching" so the next level is at yellow-ish horizontal line but that not scratch the possibility that the price can turn into buy territoty so watch out and happy trading (and one thing our price bounce off from 50% fibb retrace and probably gonna challenge 68,2% level and eventually a reversal)). i'll keep you updated if there any channel or range in play so like and follow and you won't miss a thing. DailyFx Forecast Trend is down Volatility 25% The news USD is netral JPY is Bearish
by fathi323172
Mixed Medium-Term Outlook for Wal-Mart (WMT)On March 29, 2017 Wal-Mart (WMT) crossed above its 200 day moving average (MA). Historically this has occurred 192 times. When this happens, the stock does not always continue to rise. It has a median gain of 3.407% and maximum gain of 36.667% over the next 15 trading days. When we take a look at other technical indicators, the relative strength index (RSI) is at 58.1906. RSI tends to determine overbought and oversold levels. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is neutral and looking for direction but slightly moving up at the moment. The true strength index (TSI) is currently 7.9533. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is up. Even though it is still a positive number, it is trending downward. The positive vortex indicator (VI) is currently 1.000 and just crossed over the negative indicator. The VI determines current trend and direction. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock is trending upward. Considering the moving average crossover, RSI, TSI, and VI levels, the overall near-term stock direction appears to be slightly trending upward. Based on historical movement compared to current levels and the current position in a downward trend channel, the stock could gain 0.71% over the next three weeks. The stock recently broke out of its most recent downward micro trend channel and appears to be using the old resistance as the new support which is common. Over the next few months the stock will approach the bottom of its major support channel that is pointing upward. For this reason, I do not expect much upward movement over the next three weeks.
NYSE:WMT
by StockSignaler
WILL TRUMP’S INFRASTRUCTURE PLAN INFLUENCE THE DIRECTION OF OIL?Hello Traders, In this short weekly outlook it is not about any trading setup rather than an opinion if Trump’s infrastructure plan will influence the direction of Oil prices in 2017 and beyond? First, if we look at the US Oil price we can basically see three phases so far. We will start back in 2014 as oil prices started to plump massively in Q3 of 2014 from around $120/bbl. down to around $50/bbl. by the end of Q4 2014. This was an impressive loss of around 58%! However, this was not the final depreciation of oil as it started to fall further in mid-2015 below the 11year low of $33/bbl. Beginning of 2016, oil found its current button and started to increase again as it currently trades in a narrow range of around $52-53/bbl. Technically speaking, after US president Trump won the election in November 2016, oil prices broke the significant resistance level of $52-54/bbl. ($54/bbl. UKOil) to the upside as it currently trades in a narrow range waiting for significant driver for either direction. Technically speaking, oil seeks to break out of the narrow range in near future as it creates bullish signs in lower timeframes. Target may be around $60/bbl. as it will face there the next significant resistance level. This price target may be the direction oil faces on the technical side for 2017. Now coming to all the factor that oil influences in terms of price movement and direction. After the US elections in November, 2016 took place and president Trump won for the republicans to run office as 44th president of the United States, the oil price rushed a couple days from $43/bbl. towards the major weekly resistance zone of $51.5/bbl. to flirt with that level. Just several weeks later oil formed a narrow range in which it currently trades. Let us break down the price movement of the oil and the current divers. We define 3 main drivers as significant for oil development: Demand/Supply Ratio and their effect on further oil gains Causes of OPEC Output Freeze Sector Development causing massively demand for oil US Policy plan – Infrastructure and border tax plan by President Trump In 2015 oil started to recover a little as it also shows our Supply/Demand Ratio stated to fall in the first half of 2015 to stabilize in the range of $50-60/bbl. However, in the second half of 2015 oil turned again and reached its current swing lows after breaking its 12-year low $33/bbl. and reached $27/bbl. During this time, global oil prices continued to suffer from the oversupply (shown in our ratio), the increased signs of a slowdown in the Chinese economy and a devaluation of price in global equity and commodities markets. In 2016 market saw some wide recovery as the Ratio started to swing towards bullish sentiment. Global supply gave hints of declining non-OPEC supply and efforts to alleviate the persistent supply overgorge. This is also shown in our ratio in our main article. Additionally, OPEC stated started to meet for a possible Output Freeze to bolster demand surplus to strengthen the oil price. This will affect many countries as they depend of oil development (eg. Venezuela, Russia and Brazil just to mention a few). (...) Obviously, we don’t know whether this will happen or not. This analysis could also be wrong. Keep in mind that trading is probably game. Nobody is 100%. With this analysis, we wanted to show you why WE think that oil COULD be supported throughout this year to reach $60/bbl. This is not a guarantee for accuracy and that is will happen. We hope this article clarified some of our objectives on the development of oil. As always trading is a probability game and nobody is 100%. And please do keep in mind that this is just OUR PERSONAL Opinion. Have a great Sunday. Your Secrets2Trade Team
TVC:UKOILLong
by secrets2trade