RamziAbouAbdallah-CMT

RamziAbouAbdallah-CMT

• Euro is trading in a bullish trend • Further signs of trend reversal are showing up everyday • First, the pair is trading above the 200 SMA for the second consecutive day • Bulls managed to break and trade above the descending trend line since March 2022 • Price confined inside an ascending triangle, a bullish formation • A break above the triangle targets 1.08...

RamziAbouAbdallah-CMT

• Rejection at the 200 MA • Double top pattern on daily chart with neckline around 1.02 • Bears are in control, aim the ascending channel and a break of the neckline • Resistance at 1.0480 • If neckline is broken successfully, market will test parity level again and lower

RamziAbouAbdallah-CMT

• Trading above ascending trend line • Symmetrical triangle on hourly chart, a continuation pattern • A symmetrical triangle forms after a strong move, indicating a pause before the continuation of that prior trend • Next target for bulls is 1.0480 • Bullish bias intact as long as the Euro is trading above the black ascending trend line

RamziAbouAbdallah-CMT

• Dollar index trend is bearish • Ascending trend line was broken with confirmation, re-tested and trend continued lower • Next target/support is at 105.30 followed by 104.70 • Bearish trend is supported by Fed shifting policy to a less aggressive one

RamziAbouAbdallah-CMT

• Upward channels on daily chart • First channel was broken, upper trend line was re-tested and is acting now as a support • Pair now targets the upper resistance line of the second channel at around 1.05 • First resistance at 1.0480 • Second resistance at 1.0790 • Bullish stance as long as support at 1.0350 is held

RamziAbouAbdallah-CMT

• USD/CAD risks of suffering severe losses if the 1.35 support breaks • Head and Shoulders bearish pattern in play, with neckline support at 1.35, where bears and bulls are fighting now • A confirmed and successful break of the mentioned level exposes the pair for a projected target around 1.31 (range between neckline and head) • Typically, a head and shoulders...

RamziAbouAbdallah-CMT

• Bearish picture still intact for the pound • Dovish BOE, recession risks weigh on the sentiment • Technical picture points towards weaker pound in the period ahead • Bulls and bears fighting around the resistance line dating back to Feb 2022 highs around 1.36 • As long as bears are able to defend the trend line resistance, they still got the upper hand •...

RamziAbouAbdallah-CMT

• Euro Dollar exchange rate advance as a result of diminishing bets of Fed aggressiveness and hopes of China re opening • Rally is more Dollar weakness rather than Euro strength • Markets await inflation figures in the US tomorrow • Technical rally points to a corrective move rather than trend reversal • Ascending channel forming, meaning pair is trading inside a...

RamziAbouAbdallah-CMT

• Crypto market is sideways since September, volatility and price action is null • Bitcoin trading within 18,000-20,000 range • Descending triangle, a bearish pattern, spotted on daily chart • 18,000 support is the last line of defense for bulls • If the above level is broken, we project the triangle's height to the breakout point, which leads us to levels near 10,000

RamziAbouAbdallah-CMT

• Dollar index chart is still bullish despite recent correction • Recent correction bounced at exactly the 61,8% Fib retracement mentioned in my prior analysis • The mentioned level also coincides with ascending trend line support • Symmetrical triangle can be seen on the daily chart, a continuation pattern pointing towards a breakout in the same direction as...

RamziAbouAbdallah-CMT

• Symmetrical triangle formation • This pattern is usually a continuation pattern, which means the breakout occurs at the same direction of the preceding move, in this case a break down resulting in lower prices • Sometimes, triangles can be reversal patterns • Traders better wait for the breakout to confirm the direction and the validity of the move • Price...

RamziAbouAbdallah-CMT

• Bullish trend intact despite recent fall • 0.8600 very critical in this scenario • The above level served as resistance from Sep 21 till the breakout in Sep 22 • After 5 failed tests of 0.8600, the 6th one was in Sep 22 when the breakout occured and prices rallied to 0.90 and above • As you know, resistance levels become support as they are broken and that is...

RamziAbouAbdallah-CMT

• US dollar finished the day in red following post U.S inflation figures rally • Accelerating trend lines on the chart • We are now trading inside a bullish ascending channel • Prices might correct down to the 111 level • Breaking the above level might expose lower prices for the Dollar • Trading now near the 38.2% retracement • Correction mode for the Dollar,...

RamziAbouAbdallah-CMT

• Stock market is bearish, falling following hawkish and aggressive Fed • Tsla is down more than 40% this year • Technically, today it touched a strong support near 207, which was touched 7 times since 2020 without breaking down • 207 level offers short term support, where buyers are found • Recent decline's retracement targets 38.2% at 248

RamziAbouAbdallah-CMT

• Bullish on hourly chart, buyers and sellers battling at key trend line support • Horizontal support at 0.9670, the last line of defense for bulls • If buyers give up at the above level, the YTD low around 0.95 will be exposed as a target for bears • CPI figures tomorrow will probably be the key event for fresh impetus

RamziAbouAbdallah-CMT Updated 

• Recently highlighted a descending channel on the Euro Dollar • Trading the channel is buying at the lower trend line and selling at the upper one • As shown, the pair touched the support line twice between 26 and 28 September and bounced from there • Bulls are now fighting to surpass a critical area between 0.99 and 1.00 • Best level to sell is the resistance...

RamziAbouAbdallah-CMT

• Bullish trend still in play and intact • Prices recently broke an ascending channel, showing signs of additional strength of the prevailing trend • Bulls faced resistance at 2017 high, the round level of 1.3800 • Next resistance at 1.40 psychological level and 2016 high followed by 1.4670 (2022 and 2016 peak) • Trading recommendations: • Might be reasonable...

RamziAbouAbdallah-CMT

• Pair advancing for the 6th consecutive session • Bulls need to break above 1.14 level to get the upper hand • Next resistance to the upside is the 50-day MA today at 1.1670 followed by the resistance line, today at 1.18