RamziAbouAbdallah-CMT

RamziAbouAbdallah-CMT

The pair is stuck in a bearish rising wedge since the beginning of December. A clear break of the lower trend line will confirm a down move to 1.25 and 1.247 in extension.

RamziAbouAbdallah-CMT

After hitting our first TP on Friday (1.126) the pair is back trading inside the triangle after it it has recovered from the bearish breakout which didn't last long and therefore lost its significance. The main reasons behind this large recovery are : 1- Markets expecting the Fed to deliver a dovish statement on its last meeting in 2018. 2- EU and Italy reaching...

RamziAbouAbdallah-CMT

I just spotted a rising wedge on the DXY weekly chart which started with the dollar uptrend in early summer. As concerns over slower global growth increase over time , the Fed may shift its forward guidance and turn more dovish on its last 2018 meeting in the next few days. Combined, this bearish chart formation and maybe a more dovish tone from the Fed might end...

RamziAbouAbdallah-CMT

EUR/USD broke below the symmetrical triangle it has been stuck in for around two months on the 4 hour chart following disappointing economic datas in Europe, which decreased the probability of a rate hike by the ECB in 2019. A weekly close below the highlighted area might indicate a continuation of the downtrend and a lower range for the pair. Next target for...

RamziAbouAbdallah-CMT

A head and shoulders pattern is almost completed on 1 hour time frame .. Target is the distance from the neckline to the head which is around 50 pips .. Sl just above the neckline entry below it on the breakout with a target around 0.987

RamziAbouAbdallah-CMT

The pair is forming a bearish flag pattern following a steep down movement on the 11th of December.. a break of the swing low will lead to a price target below 1.13 (1.126 and 1.12 in extension)

RamziAbouAbdallah-CMT

DXY trading in a well defined upward channel .. next resistance is 2018 high near 97.6 . Needs a daily close below the lower trend line for this analysis to become inviable

RamziAbouAbdallah-CMT

EUR/USD is again stuck in a symmetrical triangle since mid October which shows confusion in the market towards this pair.. Long if upper trend line is broken with a confirmation , sell if lower trend line is broken with confirmation. I'm neutral at the moment

RamziAbouAbdallah-CMT

USD CAD has been trading between two upward trend lines supported by weak oil prices and a less hawkish BOC statement on the 5th of December. Next target for bulls is the 1.34 figure and 78.6% Fibo retracement of the summer 2017 down movement which is 1.342.