RamziAbouAbdallah-CMT

RamziAbouAbdallah-CMT

• Dollar index in a bear trend • Broke ascending trend line since 2010 • Next target for bears is 89.69 (2009 high) • Second target is 88.80 (2010 high, 2018 low) • Means higher prices for EUR/USD, which aims to 1.25 now

RamziAbouAbdallah-CMT

• Trading inside a long term ascending channel • Broke above a short term descending channel • First target on the upside is the 2020 high at 1.21777 • A successful test of that level exposes 1.22

RamziAbouAbdallah-CMT

• Trading inside an ascending channel • Pair tested the mid level of the channel at 1.20770 • A break of this level might expose 1.20500 and lower (the red trend line)

RamziAbouAbdallah-CMT

• Trading inside the orange ascending channel • Might retest previous resistance turned support at 125.150 then up again • A break of that level might expose the lower boundary of the channel in the mid 124's

RamziAbouAbdallah-CMT

• Ascending channel long term • Descending channel short term • Short for day traders • Long for swing traders

RamziAbouAbdallah-CMT Updated 

• Inverse head and shoulders on hourly chart • Bullish pattern in the making • Neckline/resistance around 125.00 • Break above this line exposes higher prices • Right shoulder is being done

RamziAbouAbdallah-CMT

• Ascending channel on the long term daily chart • Overall trend is up • Pair broke above the short term descending channel • Next target is 127

RamziAbouAbdallah-CMT

• Ascending parallel channel on daily chart • Pound almost hit the resistance line today and retraced

RamziAbouAbdallah-CMT

• Sterling move for the day • Rally began in the Asian session, almost 100 pips. • Pair erased almost all gains in the European session. • After touching day lows, pair started to rally again testing the 61,8% of the daily move. • Being able to break above that level, pair continued to rally and tested the daily tops or the 100%. • After a successful breakout...

RamziAbouAbdallah-CMT

• Broke above the descending trend line • After breakout, retest of the trend line then higher highs • Broke above the horizontal resistance/turned support, retest of the horizontal line then up

RamziAbouAbdallah-CMT

• Breakout from 1.16-1.20 range. • Broke above the 2018-2020 descending trend line. • Next target is 1.20775. • Once 1.20775 is cleared, next strong hurdle is the area between 1.21175 and 1.21440. • That area is very critical since it is the 50% Fibo of the all time rally of the pair, and the 78.6% Fibo level of the 2018-2020 slump.

RamziAbouAbdallah-CMT

• Bear flag breakout last Friday • Decline from 1806 to 1774. • Corrects to 38,2% at 1790 then down to 1764, the 50% of the 2020 rally. • Broke below 200 day moving average.

RamziAbouAbdallah-CMT

• Double top at 19500 • Market entered correction • Hovering around 23,6% • Next target for sellers is 23,6% at 17183 followed by support turned resistance at 16440 and finally the 38,2% at 15788

RamziAbouAbdallah-CMT

• Inverse head and shoulders on daily chart • Right shoulder in the making • Neckline/resistance at 0.92000 • Right shoulder can be completed anywhere between current level and 0.90300

RamziAbouAbdallah-CMT

• Critical support at 1795 • Next potential target to the downside is 1795 (Fib 123,6% and 200 MA) • A break of 1795 will lead to 1764 (50% Fib of 2020 rally)

RamziAbouAbdallah-CMT

• Dollar index broke major support • Next swing low at 91.73 • Break of 91.73 exposes the index for a fast drop to 91 level

RamziAbouAbdallah-CMT

• Ascending trend line on hourly chart • Buy while above the trend line • Stop loss at 1.3300

RamziAbouAbdallah-CMT

• Descending trend line on hourly chart • Short positions below the trend line • Stop loss at 1.1880-90 • Buy above above 1.1890 with target at 1.19150