RamziAbouAbdallah-CMT

RamziAbouAbdallah-CMT

• First descending short term trend line was broken • Second descending long term trend line is the next target (near 1.2780) • Before that lies the 50-day moving average near 1.2750 • USD picking up pace after strong retail sales data • Long positions should be short lived since the CAD is supported by rising oil prices

RamziAbouAbdallah-CMT

• Small channel breakout • Heading towards the upper trend line of the wider channel • Pair looking for 129.00 and above

RamziAbouAbdallah-CMT

• Inverse head and shoulders on hourly charts • Bullish pattern • Neckline at 1.21500 • Recommendation: Buy above 1.21500 with SL at 1.20800 (right shoulder low)

RamziAbouAbdallah-CMT

• Suggested eliott wave on EUR/USD • If assumption correct, we are in corrective wave (B) • B usually corrects 50-61.8% of A, which is between 1.2150-1.2200 • Then comes wave C, which extends to 123.6-161.8% of A, takes us to 1.1700

RamziAbouAbdallah-CMT

• Resistance became support at 1.37500 • Uptrend remains intact as long as above 1.34885 • Potential next target at 1.40700

RamziAbouAbdallah-CMT

• Inverse head and shoulders(bullish) on daily chart • Explains the fact that a head and shoulders (bearish) pattern is spotted on EUR/USD chart • Testing the neckline around 92.00 • Next move depends on the failed or successful test of the neckline

RamziAbouAbdallah-CMT

• Inverse head and shoulders on daily chart • Bullish pattern • Neckline around 0.89200 was broken with confirmation • First target 0.90500 followed by 0.9100

RamziAbouAbdallah-CMT

• Head and shoulders on daily chart • Bearish pattern • Neckline was broken with confirmation at 1.20500 • Pair is testing the neckline • After testing, continuation downside with first target 1.19000 followed by 1.17500

RamziAbouAbdallah-CMT

• Ascending channel • Needs to clear strong resistance near 1.37600 for further upside • Next target is 1.40 and beyond

RamziAbouAbdallah-CMT

• Main trend is bullish • Ascending trend line supporting the pair • Multi year descending trend line limiting further gains • Pair needs to clear 143.100-200 for further upside

RamziAbouAbdallah-CMT

• Head and shoulders bearish pattern on daily chart • ECB hinting at further rate cuts • Risk aversion supporting the US dollar • Break of neckline support exposes further downside

RamziAbouAbdallah-CMT

• Ascending channel on daily chart • Main trend: Bullish • Pair has to clear 1.3740-50 for further upside

RamziAbouAbdallah-CMT

• GBP/USD nearly 2.5% down in one single day • Catalysts behind this move were Covid-19 new strain • Brexit talks hit deadlock • Pair is still trading inside 2 ascending channels • First channel (short term) support is at 1.31900 • Break of this level exposes the second channel (long term) support at 1.30700

RamziAbouAbdallah-CMT

• Rising wedge on daily chart • A wedge is usually a reversal pattern • Rising wedge signals bearish reversal • Lower prices expected • A break of the wedge's lower bound increases chance of reversal • Target of a successful breakout is the weekly gap in the mid 1.3200's

RamziAbouAbdallah-CMT

• 2008 crisis comparison with 2020 pandemic • Increased volatility during this year, even more than 2008 financial crisis • Can be concluded just by looking at the candle sticks bodies • V shape recovery priced in the markets, unlike officials reports

RamziAbouAbdallah-CMT

• Comparing 2017's move with 2020's • Almost same moves repeating • If assumption is correct, next target is 2018 high around 1.2500

RamziAbouAbdallah-CMT

• Trading inside a descending channel • Lower prices expected

RamziAbouAbdallah-CMT

• Broke above descending channel • Next target is 1890 • After 1890 comes 1965