DzhuneytYusein

DzhuneytYusein

XAUUSD Analysis: Gold is still bullish until it reaches below 1100. After FED rate decision XAUUSD dropped from ~1160 to almost 1120. It couldn't break 1140 upwards despite the news of China capturing US drone in South China Sea. Still there are no sifficient bullish signs. After previous week's little retrace I expect GOLD to keep going down. Short from...

DzhuneytYusein

Can we expect more decline from this point? I believe so and here is why: Since it reached all time high, USDTRY was unable to continue that trend and started making lower lows if you look at the 1h graph. First real decrease happened in the previous few days and 61.8% retrace was completed with the pair unable to continue higher. RSI bearish, MACD pointing...

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Support became resistance RSI well below 50, MACD below 0 No indications for long Still believe weak JPY hurting Japanese economy

DzhuneytYusein

Expecting more downward movement for GOLD, at least until 14 Dec FED decision Within this trend since US Elections, failed to break 1200, or said otherwise, it is still experiencing election shock. Formation of a bearish 4h hammer. RSI mainly below 50, MACD below 0 Respects 23.60% Fib level since beginning of month Nothing suggests bullish GOLD. Set stop loss at...

DzhuneytYusein

Similar to CADJPY, NZDJPY reached resistance level. This level coincides with Fibonacci level which determines the likely end points of retracements. As you can see, since mid-2015 NJ has been in a downward trend and recent increase represents the retracement which is likely to be over (reached resistance and 50% Fib level). As argued in previous post for CADJPY,...

DzhuneytYusein

As shown on the graph, structure analysis could be very useful. Resistance line: Use maximums and connect them to draw a resistance line which means that whenever price comes to this line it cannot break it, ther is a strong resistance, forming a trend. Once broken, though, it is a good opportunity to BUY and profit from price increase. Support line: Similar...

DzhuneytYusein Updated 

Chart is self explanatory, upward trend with double top formation, failed to set a new high

DzhuneytYusein

CADJPY hitting resistance, tested unsuccessfully (could test again, watch out) Technicals: Fibonacci Level, structure and over-bought RSI suggest short Fundamentals: CAD gaining recently due to higher OIL prices (how long will that continue?), JPY's recent rapid depreciation (since Trump won elections) can generate capital outflows, so I believe JPY should be...

DzhuneytYusein

CADCHF reached a very important level! Pair currenctly hitting support line valid from 2010 Blue line shows important structure, quadriple top formation since mid-2016 Likely to go down, might be good short, but careful, OIL has been in an upward trend for the previous days, thus CAD increasing in the short term Wait for confirmation, if support broken, could be a...

DzhuneytYusein

Follow up on my idea about weak GBP in the last month of 2016: Major GBP pairs (GBP/JPY, GBP/CAD, GBP/NZD, GBP/USD) all experienced decline on Monday, 28 Nov, with most of them hitting resistance levels which are too strong to be broken despite the major GBP increase throughout November. With UK appealing against the court decision on Brexit, GBP could see drop...

DzhuneytYusein

Markets reacted pretty well to Donald Trump being elected as US President with SPX500 reaching all time high. Therefore, GOLD has tanked below 1200! With USD being over-priced and GOLD failing to break 0.2Fib, it could be time for to buy XAUUSD. RSI and MACD also bullish. Blue line also shows important previous structure with GOLD unable to break it.

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GBPJPY SHORT: Two strong resistance levels Fib Level aligning with resistance = very difficult level for bears RSI VERY VERY OVERBOUGHT MACD also reaching end of bullish trend However, if pair closes above 143 in the next few days, I would consider it as a clear break and will look for LONG Good luck

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Year and a half old support line 'Curve' structure from June 2013 never been violated yet Daily close above 0.7 Fib Level (start from June 2013) RSI and MACD bullish New Zealand economy healthy as main macro indicators show! Canadian dollar might struggle given uncertainty around OIL prices (OIL broke important support last week)

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EURNZD LONG: Previous structure broken only once for the past 6+ years, we're currently at a very important level; See blue and green lines + Fibonacci 0.2 Level

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OPEC proved it is not going to let oil prices plummet again, 618 retracement completed! RSI together with MACD and Structure analysis suggests a similar technical story. Fibonacci levels and Previous Strucutre will not let OIL go below 46. New highest for the year in December? Why not!?

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Bounce up from lowest point for 2016! RSI, MACD, Fib, Previous Structure (very strong influence), BB Good luck :)

DzhuneytYusein Updated 

Last week Supreme Court ruled that UK needs to have a parliamentary vote for Brexit REFERENDUM NOT BINDING Fundamentals give reasons to have faith in GBP again; strong yen hurting Japanese economy Close above Fib on daily and strong BULL till the end of the week, even in a longer term.

DzhuneytYusein Updated 

XAUUSD LONG: - Support line tested again - Fib + Previous Structure - All previous shocks unable to beat support (month, two) RISKY, Hillary win could result in a heavy bearish trend!