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Trend-analysis

LONG TERM ANALYSIS - GBPUSDHi All, Been away from the charts for a while, but back with with an analysis on GBPUSD. As you can see from the chart my bias is pretty bullish on this pair. We're currently within a bullish channel, where price has broken an ascending wedge and printed a new higher low at the channel resistance (1.28 region), which is where I entered long on this pair using a setup on a lower time frame. Following that, we have now just broken above the psychological level of resistance at 1.3 and closed fairly convincingly on the daily giving the pair free reign to the upside. For upside targets I'm hoping to see this pair hit the recent highs around 1.32700 and then given that the -27 fib extension at 1.34500. Not really short on this pair unless it melts through the channel and even if it does I shall be prepared :) Hope this analysis proved useful to anyone reading, feedback is always appreciated..
Long
by akv93
USD/JPY Breakout Season! Didn't get to post an analysis last week as I was gone on vacation and wasn't very active in the markets. The analysis from two weeks ago called for a period of consolidation for USD after a long downtrend. The consolidation occurred between two major zones. Now that orders are present in the market the trend still looks to be down based on the higher timeframes (daily,weekly). This week I could see a breakout occurring either up or down (most likely). I have plotted my zones based off daily/ 4hr charts based on price action. Safe haven assets are on the rise as well as equities have dropped fairly recently, this has caused bullish momentum in Gold and the Yen. That being said I expect the negative correlations of USD/JPY drop for a rise in Gold; 1300 seems a fair target to the upside if all goes bad for USD expect price to break this level after it was tested earlier last week. Also a stronger yen will cause GBP/JPY to continue its trend after a brief consolidation period on the way down. However we could see price rise for liquidity before these moves take place. Fundamentally the USD has been weaker due to the recent FOMC reports and Fed decisions also geopolitical issues as well as civil issues.This week on Friday we will have the NFP report, last months NFP was positive and USD went up nicely and showed a bit of life in what was the continuation of a downtrend. This weeks NFP could be positive or negative based on the data. USD could melt possibly as everything seems stacked against it right now but we still have a weeks worth of price action to play out so it all depends on order flow. We will get a really good idea of where price is heading once this week is over as we should have a breakout direction with the added volatility of NFP week fundamentals.
by nick.trader4
Bitcoin UP! Out of bear channel! Now what?BIP 91 looks to be locked-in now. As hypothesized in my last post, this has given us enough boost to push our way through some MAJOR resistance points. Bitcoin's behavior here is extremely bullish! At the time of this writing, BTC is currently wrestling with resistance at $2599. Once through, it's on up to $2670 or the bottom of our bullish GREEN channel, whichever comes first. Once we get there, I am not sure how much energy the bulls will still have. If we do end up getting to the bottom of the bullish GREEN channel today, I don't think the market will be able to power through. My analysis today is that we either tap out at $2600 or somewhere around $2670. Tomorrow is another day but I don't see us breaking back into our bullish GREEN channel today. And, if you are a day trader (which I am NOT), these are excellent areas to short back down to the 50 MA or even possibly the $2420 support. Happy trading folks!
BITSTAMP:BTCUSDLong
by stewdamus
13
Litecoin continues to hold $45 and probably will continue holdNot surprisingly, Litecoin (LTCUSD) is holding it's $45 support today. While it is possible that it could go lower, my suspicion is that it won't. Instead, while Bitcoin (BTCUSD) continues to unravel until our Aug. 1 target date, I suspect Litecoin (LTCUSD) will bounce around in here between the $45 support and $50 support until our middle Bollinger Band or 20 MA comes up a bit to give us a boost. Once this happens, it may provide just enough steam to propel us back over $50 which is now currently acting as resistance. Then onto $60-$75 for Litecoin! Happy Trading friends!
COINBASE:LTCUSDLong
by stewdamus