Technician

Technician

The GBPUSD has broken below a key static(horizontal) resistance area around 1.66, in addition to closing just below the 50-days SMA today, we will probably head lower, first and initial support is at the rising trend line shown on chart, while a retest of 1.6260-1.6220 support area is possible in my view. Risk limit could be at 1.6717 key high....

Technician

The price is retesting the main short term resistance level and neckline for a double bottom formation, which is also at the descending resistance for the bearish channel. A break above that resistance at 99.20 could clear the way for a retest of the 200-days SMA as an initial upside target currently at 100.25 areas. Remember, this is not confirmed yet, a break...

Technician

Market Breadth: 52-week new highs: Stocks that are breaking to new yearly highs, which is another key breadth indicator followed by market technicians, when the numbers starts to diverge failing to make new highs, while the price index continues to grind higher, this usually indicates the lack of internal strength and concerning. Stocks above long term...

Technician

Update: A break below 8981 would confirm a short to medium term top for me, as price will also settle back within the main long term rising channel after breaking it earlier. My main target at 8140 major resistance-turned-support level twitter.com thefxchannel.com Earlier Anlysis( ): The chart is an illustration of multiple medium to long term potential...

Technician

Update: Failed short above my second target, closed second half at break even. Profit(pips)= +135 Update: Decided to close first half at 1.3763, second half running for full target, stop remains at breakeven Update: Reached more than 90 percent of first target, accordingly, I moved stop to breakeven. Speculating on a bearish wave, as European officials rhetoric...

Technician

UPDATE: within hours price reverses strongly, the bullish picture that was clear on chart is turning bearish as the day unfolds, the bullish engulfing candles are turning to bearish engulfing on the AUDJPY and a major Pin Bar on the AUDUSD. Having said that, * the bullish picture was negated for me. I will for confirmation to sell both. Unless price manages to...

Technician

AUD against USD and JPY is looking bullish, AUDJPY completed a retest to the 200-days SMA followed by a strong rebound and hammer candle breaking back above 93.00 resistance. We will probably retest the recent major pin bar high at 94.45. AUDUSD could be in the process of completing an inverse head and shoulders as price is approaching the 0.9085 key resistance...

Technician

Update:Trade Cancelled. RBNZ raises 2015 GDP growth to forecast to 3.2% vs. 2.8%. 2016 growth est. up to 2.2% vs. 2.1% previous RBNZ says it sees inflation reaching the 2% midpoint in Q2 2014. Head of central bank expects a 125bps of increases this year! a new tightening cycle starts Unexpected strong revisions, and therefore I believe there is new information...

Technician

Update: I cancelled this trade, entry outdated. Simple Long following strong rejection and trend line break. Overall trend remains bullish as well. twitter.com www.thefxchannel.com Trading Criteria: 1. Trades are taken in two units 2. First unit would be closed at first target 3. Stop loss is moved to breakeven 4. Second unit at second target 5. If 90 percent...

Technician

Update: More than 90 percent of target hit, following my rules I Moved stop to break-even Update: First half closed at first target. Stop remains at break-even Update: As price nears second target, I move stop loss from break-even to first target at 1341(locking 100 points minimum profit on the second half) Final Update: Full target hit, Profit(pips)= + 310 Long...

Technician

Update: Copper has been under heavy pressure recenrtly, managed to to break the ascending support for the latest bullish correctional structure, i am expecting a quick and initial move towards 2.985. Earlier Analysis ( ): Major long term bearish head and shoulders has a target around 1.5. Note: what i don't like about this pattern, is that it doesn't follow...

Technician

Major bearish action on Friday's session closing, as price retreats sharply forming a major long legged doji at 94.07 previous swing high in addition to the 1.271 extension level, i am looking for a bearish correction this week as volatility remains highs twitter.com www.thefxchannel.com

Technician

After working the way strongly higher above 87.37 main high and resistance level, the pair retreated and failed to close above that Resistance, forming a pin bar. We might see sideways fluctuations and bearish correction below 87.37 next week, for a possible retest of 85.65 broken resistance level. A break above that resistance is required now to signal more...

Technician

Update: The pair is at a key medium term juncture in my view, as price retest at key resistance leel at 0.9085 after failing to maintain a break below the support of the main falling channel, meantime RSI momentum is showing strong bullish divergence. Although there is some technical signs that hint a potential rebound, we should keep in mind that price remains...

Technician

Update: The price has managed to break 102.70 minor resistance, forming a Bullish Engulfing candle, Are we heading to retest the 61.8 retracement level again? So far the technical odds remain in favor of the uptrend resumption scenario. Earlier Analysis( ) : The price has started a corrective wave after testing a long term 61.8 retracement level at 105.60,...

Technician

The chart is an illustration of multiple medium to long term potential channels. Are we nearing a long term top? or will break higher and draw a new secular bull trend. DAX entered a period of sideways correctional bias following my latest update(), as price fails so far to decisively break the ceiling of the multiple channels, RSI is showing a clear bearish...

Technician

Multiple rejection at support level within the overall sideways bias, a bullish trade with a very attractive risk-reward twitter.com www.thefxchannel.com Trading Criteria: 1. Trades are taken in two units 2. First unit would be closed at first target 3. Stop loss is moved to breakeven 4. Second unit at second target 5. If 90 percent of first target is reached...

Technician

A bit late, but anyway the pair is in a bullish breakout mode. Bias to the upside as long as above 85.65 broken resistance-turned support now, pullbacks remain a buying opportunity for now.. Next target at 87.37 major high twitter.com www.thefxchannel.com