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Dark Cloud Cover on SBKA dark cloud cover has formed on JSE:SBK which is a top reversal signal, so we can expect a downwards move. A dark cloud cover follows a preceding up trend where a red candle opens up above the previous day's green candle and closes 50% below it's body. This particular pattern has formed on quite a strong resistance level which solidifies the signal. We will look at entering a short position if it trades around the 17200 level with a target around the previous support level of around 16000.
JSE:SBKShort
by RossLarter
September 5th?? Breakout Time?We have at least 7 hours left in this day candle and I have to give the bull a round of applause for holding up this trend with a lowercase "t" haha. The MAMA Bear is still in effect just taking a break drinking a RED BULL lol. She is about to head south fast really soon. The Bitcoin market is definitely stalling for that date. But currently the second hidden trend gem is holding the bull up and may be heading for $7500 which is also a .618 retracement on the daily chart. I am still bearish at 7250 anticipating a heavy move below $5000. Ultimate target $1100 a Bitcoin. Medium target: $2500.
BITFINEX:BTCUSDShort
by AlphonsoElliottJr.
6
USD/ZAR 1H Chart: Descending between Fibonacci linesThe US Dollar continues to lose ground against the South African rand in a large scale descending channel pattern. However, not the pattern, but other aspects are to be noted more importantly. Namely, the fact that the currency exchange rate is respecting the support and resistance of the various Fibonacci retracement levels that can be charted on the currency exchange rate. Moreover, various pivot points play important roles on the chart. Regarding the near term future, whether a surge or decline starts is dependent on whether the 13.31 gets passed to the downside or the upside.
Short
by UnknownUnicorn890690
USD/ZAR Large scale developmentsIt seems that everything previously drawn on the USD/ZAR currency pair’s large scale charts has become obsolete due to the recent fundamental events in the US. Namely, in a recent testimony to the US Congress the head of the FED provided the needed strength to the US Dollar to break long term resistance. Before the even the pair was heading for the lower trend line of a two year pattern. It was occurring in a junior pattern, and the move was about to be completed by the middle of March. However, two smaller scale patterns are still holding and indicate that the pair might trade horizontally throughout March.
by UnknownUnicorn890690
USD/ZAR 4H Chart: Started appreciating The US Dollar Continued to appreciate against the South African Rand after it reached the dotted support line near the 11.80 level on January 23. After testing the 50.00% Fibonacci retracement level, the pair started moving back in the opposite direction. This retracement can be measured by connecting the high at 12.55 and the low at 11.80. The pair are stranded between the upper boundary of the dotted line and the 100—hour simple moving average at the time of the analysis. Everything being equal, the USD/ZAR pair is likely to retrace south to test the weekly pivot point at the 12.00 mark.
Short
by UnknownUnicorn890690
USD/ZAR 4H Chart: Breaking massive patternThe US Dollar recently plummeted against the South African Rand. From a technical perspective the reason for the fall was the encountering of a Fibonacci retracement level, which is measured by connecting the high and low levels of the last decade. However, that move was not as surprising as the fact that the following decline broke the support of a massive scale channel up pattern, which represented the pair’s rebound of 2017. In regards to what the traders want to know, the pair is set to trade between two levels in the near future until it breaks to the downside and begins an approach of the 2017 low level at 12.32.
Short
by UnknownUnicorn890690
USD/ZAR 4H Chart: Reaches Dominant ResistanceAlthough the USD/ZAR pair is not that popular due to low volumes and fundamental moves, a review of the pair needs to be done due to a recent rebound against a dominant resistance level. The pair recently bounced off the combined resistance of a long term channel up pattern, monthly R2 and weekly R3 near the 14.30 mark. As a result of the meeting of the resistance level the pair has begun to decline down to the 14.04 level, where the weekly R2 is located at. Most likely that level will be reached and a short term rebound will reveal the most junior pattern. Meanwhile, one should take into account that there is still active the support line, which forced the rate higher during the last week.
Short
by UnknownUnicorn890690
BUY Samsung at market (866.50)Today South Korea's Constitutional Court removed President Park Geun-hye from office over a graft scandal involving the country's conglomerates. Park becomes South Korea's first democratically elected leader to be forced from office, capping months of paralysis and turmoil over a corruption scandal that also landed the head of the Samsung conglomerate in jail. (Reuturs source) So why buy Samsung? "The prospect of a new president in the first half of this year instead of prolonged uncertainty will buoy domestic demand as well as the markets" said Trinh Nguyen, senior economist at Natixis in Hong Kong. "The hope is that this will allow the country to have a new leader that can address long-standing challenges such as labor market reforms and escalated geopolitical tensions," he said. So a new brush for South Korea to sweep away uncertainty and corruption. This can only help the markets and South Korea's biggest company - we recommend BUYING Samsung.
LSIN:SMSNLong
by theforexportal
EURUSD: Up or Down?EURUSD broke the support at 1.1290 but recovered strongly and now being traded within the 1.13-1.13300 trange. My bias on this pair remains bullish but I don’t think the EUR could do that and head up back to 1.14+ in the medium-term. Therefore I set selling order at 1.1350+ with stop loss at 1.139+. When I was writing this post the EURUSD hit the 1.133 resistance and dropped down to the lower bound. However I don’t expect much moves today as today’s Monday with no important news. Stay tuned for more updates! Skype room: join.skype.com Twitter signals: twitter.com
by FxKool