Technician

Technician

Update: First target hit, moved stop to break-even,stopped at break-even. Profit/loss(pips)=60 The NFP is due, a major move either higher or lower is expected, ill take a bearish aim on the USDCAD as price completes around 1.0475, making it an ideal one. The resistance of the main descending channel should hold for the setup to remain intact.

Technician

Update: Closed at minor profit Profit/loss(pips)= +20 The price consolidation forms a perfect bear flag formation, a break below the flag support may signal the continuation of the bearish wave.

Technician

A nice drop from the resistance cluster at 1.3825, grabbing price all the way back to the bottom of the rising channel just above the 38.2 retracement for the overall rise from 1.2750 low to 1.3830 high. At first sight, the recent bearish action looks extremely bearish, however surprisingly there was no technical damage to the uptrend so far. as price remains...

Technician

Update: closed at break-even. The sell-off may have gone too far too fast, I am looking for a bounce here as price tests key support area. The main rising trend line for the whole bullish trend, the 50-days SMA and a horizontal support.

Technician

The recent parabolic run in price may have come to an end, as major technical weakness, reversal signals alarming for a potential top. -A classic trend line break -A classic head and shoulders reversal -50-days SMA break -Bearish momentum -First Bollinger bands break since February Add to that, the bubbly behavior of the shares in the past few...

Technician

The price has been fluctuating within a sideways range, here are two potential scenarios for the upcoming short period.

Technician

A downside correctional move lower is likely I believe, however the overall technical picture remains constructive over the short to medium term.

Technician

Update: Failure, stop loss hit Profit/loss(pips)= -17 A bit risky, but with a tight stop, looking for a minor bounce towards the broken hourly triangle formation. Note RSI lags price.

Technician

Despite the recent rally, GBPAUD remains below the broken ascending support for the recent sideways consolidation, price is heading for a retest of this area where the 50-days SMA resides as well. This potential resistance might be pivotal for price in the upcoming period.

Technician

Update: Closed half at 0.8295 Profit/Loss(pips)= +65 A long setup on the NZDUSD pair, as price prints a bullish reversal hammer candle at confluence of support level, the 200 and 50 days SMAs, and the broken neckline for the major double bottom pattern that was broken earlier. A break below this support area would be strongly bearish.

Technician

Update: cancelled, didn't trigger entry A major bullish hammer at horizontal support and 38.2 retracement, looking for a move towards the top of the range.

Technician

Update: Full Target hit Profit/loss(pips)= +40 The price has shown strong rejection at the 76.4 retracement level, and the top of this possible rising wedge, while RSI shows momentum divergence

Technician

Update: First target hit, moved stop to break-even. Profit/loss(pips)=85 A push towards 1.0510 area could provide a shorting opportunity, as price completes a harmonic AB=CD at the 78.6 retracement level for the whole decline, marking this area a confluence of Fibonacci levels, in addition to the descending resistance for the recent sideways range, which is...

Technician

Update: closed ahead of stop loss due to FOMC release Profit/loss(pips)= -15 pips A noticeable pin bar at 38.2 retracement level, and major swing low. Looking for a bullish rebound.

Technician

Update : First Target hit, stop to break-even, stopped at break-even. Profit/loss= +$11 Looking for a corrective move lower after a long upper wick candle just shy of key Fibonacci retracement.

Technician

Update: Failure, stop loss hit. Profit/loss= -25pips The price may have confirmed a short term bottom at the main rising trend line for the overall bullish trend, and at the 50-percent retracement level for the recent major bullish wave.

Technician

The price has landed at a major resistance area, where different short medium and long term resistance levels meet around 1.3850 area. The resistance of the recent bullish channel, alongside the 61.8 retracement of the long term bearish wave that started in may 2011 at 1.4935 to 2012 low at 1.2041. The 161.8 extension level of the latest bullish wave is at 1.3824...

Technician

In my previous post (), I emphasized on how FED's easy policy has created no other place for money to go but equities, as this pump of liquidity triggered a speculative bubble in asset prices, in this case bonds and stocks, as big institutions used this money to capitalize on an easy FED. I also mentioned that this easy money will probably continue for the short...