BitterSweetMarkets

BitterSweetMarkets

The 0.01530 level (area) is critical, the first red arrow shows the market respecting this level during June 2013, April 2015 the same story although we are now in an uptrend and the weekly trendline support (blue line) clearly shows this. But what's interesting is the behavior during February of 2016 as this level is tested once again. Inside the green shaded...

BitterSweetMarkets

As we finish this week in positive territory, we also approach the important weekly trend line. A pullback here is likely, until the dip buyers pile back in. A break and hold on the daily above the trend line would suggest further upside is imminent, thus being a buy signal. With minor resistance areas along the route we can expect to re-test 2015 May highs....

BitterSweetMarkets

A break and hold above 780.00 area would be a high probability Long trade. 1st target 840.00

BitterSweetMarkets

Cup & Handle pattern almost complete, from the highs of September 2002. A short position at 3.6250 would be a high probability trade with a target at 3.4000.

BitterSweetMarkets

USD/CNY Cup & Handle pattern forming over a 6 year period starting from 2010 highs.

BitterSweetMarkets

Possible Downside scenario.