FXAutomate

FXAutomate

Last week saw the EURUSD pulling back towards the previous resistance zone from where price action clearly dictated rejection. At this stage, a move challenging the previous lows @ 1.170 is very likely. If price were to find support from the Monthly Pivot @ 1.179 then a move back to the resistance zone @ 1.190 is likely the most probable move.

FXAutomate

The ZAR has seen significant gains against the USD over the past 3 weeks resulting in a test of the 10-year diagonal support line @ 14.08. From here the probability for a reversal and pullback to at least 14.60 (38% Fib along with the Daily 100 and 200 SMA's) or 14.90 (61% Fib) is significant. If the price gets rejected and closes below Friday's low this will be...

FXAutomate

NZDUSD has seen a strong rally over the past 2 weeks but I would argue with momentum grinding to a halt amid strong resistance from the 0.717 there is a good chance for a pullback to at least 0.708 (23% Fib and also the Daily 100 SMA). If this level holds a move back to resistance at current levels would be likely. However, if it fails a deeper pullback to between...

FXAutomate

The USDZAR has been exceptionally tricky to analyze since breaking below strong support @ 14.60. But it does now finally appear to be finding support from the area between the Daily 100 SMA and point of control based on volume. This area also acts as the 2nd re-test of the slanted inverted head and shoulders neckline. From here I expect a move to between 14.60 to...

FXAutomate

The USDZAR has seen consecutive bearish candles every day since it tagged resistance near the top of the bullish diagonal channel. It has now entered into an area of multiple levels of very strong support which includes the Weekly 200 SMA, Daily 100 and 50 SMA's, Diagonal & Horizontal Support. So from 14.60, it provides what is probably one of the highest...

FXAutomate

Having recently explained my new 5-phase trend evaluation method I have identified the start of phase 3 (breakout and re-test) for EURUSD. This means we are expecting the market to re-test the MA's (i.e. 50 SMA or 100 SMA) and continue breaking lower as the trend reaches the maturation phase. For now, this means that a re-test of the area near the 50 SMA @ 1.188...

FXAutomate

Danone SA has completed two classical charting patterns over the past 12-months with the bottom signified by a complex inverted head and shoulders followed by a 5-month period of consolidation (rectangle). The current breakout sees a target of at least 65 with a likely bullish trend to be established over the coming months. The current pullback to 62 following the...

FXAutomate

Dip to ~36k followed by a rally to ~45k followed by another dip to ~42k and then either a large rally to ~50k or sell-off to ~32k

FXAutomate

Bitcoin has now been rejected near the top of its 2-month trading range with price now trading back under the daily 100 SMA. There is strong support from the yearly R1 @ 37500 but a pullback to the 50% Fibonacci level @ 36000 is also very likely. From this level price is expected to move back towards the top of the range @ 41000 pending a possible breakout to 45-46k

FXAutomate

With the Chinese crackdown on tech stocks and the latest announcement banning for-profit education, Tencent has seen a significant impact on its latest share price. The latest move has seen price rejected all the way to the Monthly/Weekly S3 @ 490 which is considered very extreme from a technical standpoint and ignoring fundamental factors for a moment will...

FXAutomate

Bitcoin is currently at a make-or-break level. The trend is still clearly down as price currently trades right up against the upper boundary of the 2 standard deviations linear regression channel. What makes this level extra significant is the fact that it is also the current monthly pivot and 40 daily SMA, both of which have seen price getting rejected in the...

FXAutomate

AMD has been trading within a well-defined rectangle for the past 12-months with the horizontal boundary acting as strong resistance at the 96.00 level. Currently, price has pulled back to the Daily 200 SMA near the centre of the trading range partly due to the wider market sell-off. Considering AMD is expected to report earnings on the 27th of July, this could...

FXAutomate

USD strength has seen the pair break below major horizontal support as can be seen on the weekly chart with the next level of support @ 1.345 (also a key fib level). If this level fails I expect a move lower to where the weekly 100 and 200 SMA's converge at around 1.316.

FXAutomate

After the break of the bullish channel, we have seen a swift but aggressive sell-off followed by a relief rally which has now tested the breakout level coinciding with the weekly pivot. This presents a good risk to reward opportunity for those looking to short the market. Stops can be kept tight at just above the weekly pivot with the initial target near the...

FXAutomate

The DXY has broken diagonal resistance and is now heading to what could be the possible double bottom neckline @ 93.30. This level also coincides with the July R1 Pivot and weekly R2 pivot. If we see a break of the neckline there is a very high probability for a move to the Yearly Pivot @ 94.00

FXAutomate

Bitcoin has not been showing a lot of strength lately with the daily 365 SMA @ ~30500 one of the final levels of support before a move towards the yearly pivot @ ~20500 becomes the most probable scenario. Looking at a 2 standard deviation linear regression channel from the ATH gives us a glimpse of the current bearish channel. In order for a recovery to happen,...

FXAutomate

Silver has now successfully tested diagonal support of the symmetrical triangle formation and based on typical breakout patterns the final test should occur around two thirds to the apex, which it has. The expected move is now back towards the upper diagonal which coincides with the current monthly pivot @ 27.91. Form here a breakout will see a new bullish trend...

FXAutomate

Over the past 3 months, the USDZAR has formed a classical inverted head and shoulders bottom with the current neckline at the Daily 100 SMA. If the price breaks above this level the targets would be 15.00 followed by 15.50. If however it fails to break the neckline and breaks below support @ 14.25 a move back to the 10-year diagonal support @ 14.00 can be expected...