Pioneerfx2014
It can break up ...it can break down... I favour the upside since Trump is in Town!
SPX 500 within a critical zone. I do favour longs. However it has broke the TL so could break through and head south to 38.2 fib% (trade safe).
I do favour long trade from the position highlighted, tapped 61.8 and could push higher from there :D
Retraced from midnight.... could possibly go for another run up ;) Happy trading
AUDUSD ANALYSIS - TAPPED 61.8 BANG ON RETRACEMENT. NOW BACK UP ON RESISTANCE SHOWING PLENTY OF BEARISHNESS BROKE OUT OF RESISTANCE RETESTED AND NOW HEADING TO 50% FIB TP1
Details shown on chart :D Happy Trading !!!
GBP showed signs of weakness from the end on last week, which has brought the price down which met 127.2 fib extension. GBP average earnings higher than foretasted should strengthen GBP. Retracement now over-due await for further PA first TP 78.6% TP2 61.8%
GOLD TOUCHED WEEKLY FIB @ EXTENSION, PRICE DUE TO RETRACE THEN HEAD TO SECOND EXTENSION !! GOLD HAS BEEN RANGING FOR THE PAST 3 WEEKS! FORMING A WEDGE ON THE DAILY POTENTIALLY PRICE COULD BREAK OUT IN BOTH DIRECTION HOWEVER I DO FAVOUR LONGS! SET SELL STOP @ 1363 & BUY STOP 1449
EURUSD looks bearish, await retest of daily TL. If breaks Weekly TL then further movement southside. I favour shorts for this pair.
1) Double top formation on 4hr gives an indication of price rejection 2) Bearish engulfing formation 3) Once PA has broken 4hr trend line price to retrace down to 38.2% fib as TP01 thereafter 50% fib TP02.
DXY - MINOR PULLBACK INTO CONSOLDATION AREA LONG TERM BULLISH
Analysis.... to head south...Market exhaustion (Slowing Dowwwwwwn) its been so many consecutive days EURGBP has been heading upwards, a retracement is due for further manipulation within the market.
Head and shoulder clearly formed..... wait for further price action for break!! into Green Trend Line & BOOM! fib retracement target first target 1.32459 second target 1.32897.