Technician

Technician

-The overall long term rising channel continues to confine price action -The price has broken out of the shorter term falling channel -The price entered a period of sideways consolidation following the breakout of the channel -The price settles above the short term 50-days SMA and the longer term 200-days SMA -Accordingly, the bullish givens outweigh the bearish...

Technician

NZDUSD completed a bearish breakout below key support levels, The price has broken the key juncture i mentioned in my previous analysis, please check related links below - The price has taken the 200-days SMA - The main rising trend line was broken -The key horizontal support at 0.8400 - the 61.8 retracement level for the bullish wave -The price maintains a new...

Technician

Technical Analysis The upside is favored in the near term, as the price has managed to take 37.00 resistance level, and settle back above the 200-days SMA. That could be within the context of forming a rounding bottom or cup with handle pattern. I am targeting initially 41.70 level, a breakout above 41.70 would confirm the bullish continuation to the major long...

Technician

Technical Analysis After breaking the minor falling channel ( I mentioned in my prior long term analysis 8 months ago, check links below)the price headed to retest the top of the main long term rising channel, but Price failed around the major high at 102.22 again. And that keeps my overall bias bearish, a break and weekly closing below 92.20 may give further...

Technician

Technical Analysis The share has completed a bearish reversal behavior, the price has completed an inverted head and shoulders top pattern over the weekly time scale, suggesting bearish action likely in the upcoming months. - Breakout below the neckline of the head and shoulders -Breakout below the long term 52-week Average -Violated the rising trend line for the...

Technician

This is an update to a sequel of price action analysis posts, please check previous below. Its not an actionable trade setup, but intended to be more of price action insight, and educational post on how to interpret price action over the long term to extract short term trade setups. The pair failed at 100.75 support level as expected in my previous post, but the...

Technician

There is not much to say as i outlined the key short term levels to trade among on chart. I believe the price may consolidate in a sideways bias among key two levels 1.3100 and 1.3300. I think the price has gone extremely oversold in the short term, and thus selling rallies and buying dips is my favored approach for now, but taking into consideration that a...

Technician

AUDNZD has reached a key long term resistance level, which you can clearly spot if you zoom out to the weekly chart. The price has shown signs of hesitation and a bearish shooting star candle at that level, and also around the 1.271 extension for the latest major bearish wave as spotted on chart. A slight bearish divergence is also seen on RSI...

Technician

Update: The trade is active now Update: Target Hit --------------------------------------------------------------------------------------------------------------------------------------- The share is showing recovery, however the bullish rebound could provide an opportunity for another short. -The price has tentatively broken the double top formation -The price...

Technician

Update 2 : I just closed my second unit at 1.1065. As i see strong bearish signs, a bearish shooting star candle at latest resistance, and a bearish divergence on RSI. I will look for short signals now. Profit(pips): +120 on first half + 205 on second half = +325 Update: first target hit, moved stop loss to break-even. Profit(pips)= +120 for first half, second...

Technician

In my view, the chances that the EURUSD has finally topped over the medium to long term are high. Lets assess whats going on, -The weekly chart suggests multiple bearish breakout - Bearish breakout and completion of a long term head and shoulders top pattern - Bearish breakout and completion of a rising wedge bearish pattern -Bearish breakout and stability below...

Technician

-EURGBP completed an inverse head and shoulders bottom -Bullish engulfing candle breached the neckline of the pattern -Falling Trend line was taken -50-days SMA was taken -Bullish divergence on Momentum I am looking to long near 0.7990, targeting 0.8080 as an initial upside target, followed by the dynamic target at the falling trend line, with a stop below...

Technician

Definition: The Bump and Run is a reversal pattern that forms after excessive speculation drives prices up too far, too fast. The first phase is a uniform bullish trend with a trend line slope of 30 to 45 degree, then a period of excessive bullishness with a trend line slop of 50+ degrees, and finally the Run phase which is a period of sell-off. I am looking for...

Technician

This is a quick view on the EURJPY pair, the price has hit a key long term support at 136.22 in addition to the support for the main falling channel. We might see the bounce extend further towards the shaded resistance area. However, watch carefully if we reach there, as we might see renewed bearish pressures and potential shorting opportunities. A break back...

Technician

My earlier forecast :Nikkei Futures: Failure to hold above the major resistance area around 15450 threatens for a new bearish wave, probably we may see the price head towards the bottom of the sideways range once more. Note the bearish divergence on MACD as well. Update: The price reached below my first target for previous analysis(see related link below), but...

Technician

The NZDUSD was under very strong pressures, and reached all of my downside targets which i mentioned in my earlier forecaste for the pair, see related link below. Watch-out, the price is a key technical juncture: -Retested the long term 200-days SMA -Retested the main rising trend line for the overall bullish trend -Formed a bullish hammer at this key support...

Technician

Nikkei Futures: Failure to hold above the major resistance area around 15450 threatens for a new bearish wave, probably we may see the price head towards the bottom of the sideways range once more. Note the bearish divergence on MACD as well. The chart explains it-self, with targets and risk limit outlined on it. Good luck , join me at twitter.com Also at my...

Technician

Micron has completed a topping formation, hinting a potential deeper bearish correction. -The price has completed a minor head and shoulders pattern, by breaking 31.80 horizontal support level, - In addition to breaking the 50-days SMA. -Strong volume levels on breakout -The price attempted to regain the upside, but today's action was bearish, as price failed to...