Opportunity explained in the chart itself.
Norway's GDP readings have come in better than expected. Y/Y @ 3.9% and Q/Q @ 0.3% up from 1.1% and -0.2% respectively and both beating estimates. On H4 charts, the retracement to 5.96074 looks like a prime target to short from targeting 5.83130 (for now). Alternatively, wait for the resistance to be confirmed at 5.96 and sell at the most recent lows in the run up.
Following up from the previous analysis, the downside objective was achieved at 1.67418. In the run up to the CPI release, it is likely for GBPUSD to go back to test the previous level of 1.6925. While the bias is to the downside, for now, an upside move could be likely. Not recommended to take a long position now, or if taken make sure the risks are minimal with...
GBPUSD triggered a short signal today based on our proprietary pattern which delivers us a target at 1.6700 (nice even number). To enhance our odds, we can find multiple support factors for our setup like a bearish head and shoulders pattern and a major uptrend trendline break that is now being re-tested. This re-test to the broken trendline should offer us...
USDJPY has bounced of the 200 Day Simple Moving Average and is currently resting on an area of support populated by several previous lows. Buying at current levels with a stop below the lows offers a good risk/reward opportunity for long positions.
This morning 9 AM CET( central European Time) , the market went up and down and the race between bull and bear appears to end at that stage in favor of the BULL. The twist of the trend has started. In Early hours with a 1H and 2H Ichi, the signal were clear but was not confirmed at H4. Now there is a initial move on a 4H basis but it needs to be confirmed and...
It Says It All On The Chart... Great Points Made By Jason...Japan Has Stated They Are Going To Do Whatever It Takes To hold There Currency Up...Watch For False Break To Downside...Followed By A Move To The Upside...
The Captions on the chart say it all. Simple Trade Setup if it happens. IF Euro rallies to 1.3800 major Resistance Level for a Move To The Downside.
This chart was posted a few weeks ago. We have hit resistance a few times. Price did not manage to pierce the red channel... observing for now the price action at those levels. 20min charts still showing signs of price strength : one more attempt to overcome resistance is in the cards.
For the moment I believe that this bounce will continue towards 1.3800, especially if 1.3730 will fall.
Price has plunged lower through its Action line and its newest Median line. So far, price is failing to make it back to these lines even though Support came into market on the 3rd visit to 1.3678. With 4 settlements above this level, the probability increases for price to retest lines.
Update from the previous chart for USDNOK, we see three patterns confirming the target of 5.83530, Risks: 20/05: Norway GDP release forecast 1.34%. Prev 1.1% y/y | forecast 1.52%. Prev -0.2% q/q 22/05: Unemployment rate. Its been stable at 3.5%, so any downside reading could pose some threats to this trade.
After the sell-off from almost 40, EU ended close to 37 handle, failing to create new low. Same happened beginning April after the rally to 396, EU failed to close below 37. The PA is in the lower half (below median channel line) of the channel and possible completion of bullish gartley. Conclusion: The 37 handle has been a strong S/R level in 2014. Now, close to...
In my view, political agenda , economic agenda and the behaviour of EURO against USD will give the direction and the impetus for USDJPY. On a purely mechanical point of view, BoJ is still printing a huge amount of Yen comparing to the calendar of FED where Yellen is still sticking to the tapering. On the Other hand, ECB President Draghi, will make his statement...
Friends, Predictive/forecasting model is bearish on $Gold, having defined significant R/S levels as follows: 1 - Strongest resistance within the 80.94/81.63 range 2 - Moderate support with reversal potential at 74.50 3 - Strong support with break-thru risk at 74.04 Also, model defines the following conditional targets, provided breach of 74.04: 1 - TG-1 =...
We are on a crossroad, although, indicators shows that the move in on the downside against Euro. If 1.3660 is broken, i.e we can consider this chart as a double bottom formation, therefore neckline is clear and to move would be toward 1.3560. It would also mean that the market starts to feel the first effect of tappering as well as the statement of Draghi as a...
With all the talk of a possible rate cut in June, EURUSD technicals paint a different picture. What would make the EURUSD to rally to 1.4 - 1.41 levels? Better than expected EMU data or a weaker USD or ECB's actions not convincing enough for the markets? Only time will tell. Regardless of what the media says, USD fundamentals weren't that impressive post Winter....
I am publishing this as an alternate numbering of the waves, which I published yesterday. Looking for some informed comments..