Technician

Technician

Since July 2012 bottom, EURNZD has been trading higher, with some major corrections though, but the overall bias has been bullish, as price broke a long term falling wedge in December, which was followed by a successful retest of the wedge before heading higher again, completing a double bottom pattern by breaking above its neckline around 1.60-1.6200 area. That...

Technician

Failure , stop loss hit Profit/loss(pips)= -25 A quick intraday short with a very tight stop of 15-mins false break and 78.6 retracement level

Technician

Short term bullish rebound scenario would be more likely on a break back above 1252.00 latest swing low and potential falling wedge, that could push for further upside to 1290.00 and probably 1306.00. On the other hand, settling below the main descending support colored in pink and 0.786 retracmeent level may confirm a retest of 1208.00 and the the major swing...

Technician

AUDUSD may be heading to resume bear trend, as price fails at the 200-days long term average, and 50 percent retracement for the whole bear trend. Forming a bearish head and shoulders reversal pattern. The price has confirmed a breakout of the pattern today below 0.9280 key support. Further downside within the context of the new bear channel is probable. Looking...

Technician

Bearish chances remain there, as price is struggling as 1.6116 horizontal resistance, marked by a series of pin bars, for a potential retest of the bottom of the range floor at 1.5893 key swing low. Note that we remain in a sideways market, where successfully taking 1.6116 may push to the range ceiling at 1.6260. While taking the range floor should signal a major...

Technician

The Major monthly double top pattern has a measured move target of $386, which points to $1140.00 level, 1140 resides near the main long term rising trend line for the secular bull trend. The recent pullback completed a retest to the first-tier broken trend line before moving lower, supporting the bearish resumption scenario.

Technician

Update : First target hit, moved stop to break-even, stopped at break-even Profit/loss(pips)= 100 Am giving a short a shot here, as price is retesting the main broken trend line, meanwhile, forming a bearish rising wedge pattern and approaching the key resistance area among 1.3520-1.3550 area. Trade may provide an attractive reward compared to...

Technician

Update: Firs target hit, moved stop to break-even, stopped at break even. Profit/loss(pips)=40 Looking for at least an intraday bearish scalp on the retest of the broken support area, as price has shown some hesitation through multiple pin bars at the main broken trend line and horizontal support at 0.9830

Technician

Update: closed ahead of stop at 1.4412 Profit/loss(pips)= -48 The completion of the bearish double top pattern near the top of the range hints a potential run towards the bottom of the range, RSI swing failure also indicates a bearish reversal.

Technician

Update: Closed near entry, ahead of weekend. Simple long setup based mainly on candlesticks and support and resistance levels in the direction of the short term bias

Technician

Update: closed near break-even ahead of weekend. Potential for another bearish attempt towards the recent lows.

Technician

Watch for a breakout of consolidation pattern, a break above 95.35 would be first positive sign, a confirmation through breaking the multi-month descending channel would target the 200-days SMA at 98.60 area.

Technician

Update: Touched first target without triggering entry, trade cancelled. A major rejection at the descending resistance within the context of the bearish wave that started from 0.8544 high, another test of the major support among 0.8200-0.8160 is likely.

Technician

Update: Didn't take this trade, But anyway it wasn't a successful forecast. In my earlier posts, I presented my rational behind being inclined to the bearish side on U.S. equities. Now, I am presenting the mechanics of my first shorting attempt. There has always been a good positive correlation between short term WTI Crude Oil and the S&P500 OVER THE SHORT TERM....

Technician

Cisco shares breaking higher, as price may be heading to resume the overall long term bullish trend. After testing its main ascending trend line, price has broken a classic falling wedge bullish pattern, key horizontal resistance around 23.40, 23.40 is also a neckline for Adam and eve double bottom pattern. Targets and technical notes outlined on chart.

Technician

Update: Failure Profit/loss(pips)= -90 A potential move lower as price respects the confluence of Fibonacci levels, and on the completion of an ABCD wave at the top of the channel.

Technician

There are occasions where central banks policies diverge, either by one being hawkish the other being dovish, or by one being less accommodative while the other leans to provide further easing, in general these diverging moments are cyclical habits of markets, they come in various and actually unlimited ways and tastes, where the divergence of central banks...

Technician

Update: First target hit, moved stop to break-even. Closed second half at 0.8637, ahead of full target Profit/loss(pips)=163 Yesterday's price action was really exciting, all gains were erased later on the session as price forms a major shooting star candle at this key resistance area. Hinting a potential resumption of the bearish trend. Be careful though,...