UnknownUnicorn200545

UnknownUnicorn200545

Danske Bank Technical Update Hover mouse over Indicator on top of the chart.

UnknownUnicorn200545

The USD/CAD has seen a recent bull rally since BOC cut rates on January 15th. From 0.75-0.5%. This is following a BOC rate cut back in January 21 from 1%-0.75. Which we saw a 700 pip run up on the USD/CAD by January 30th as a result. One reason for the Canadian Rate cut was to lower production costs to oil manufacturers offsetting decreased profits from low...

UnknownUnicorn200545

I am looking at a fibinoccie retracement from our 2014 May Highs. We have retraced testing the 0.23 Line which confirms our fibinocci sequence. Also I have drawn trend lines to mark the foretasted path if the EUR/USD continues its correction. Greece Debt settlement and US rate and Q2 GDP decision will play into short to mid term trend confirmation

UnknownUnicorn200545

I want to start off by talking about our daily chart, before moving into our 4hour chart which is pictured above. On the EUR/USD daily chart, price action has been slowly moving upwards off March 2015 year to date lows, since falling off May 2014 year to date highs. If we draw a Fibonacci line from the May 2014 highs, to March 2015 lows, an initial retracement...

UnknownUnicorn200545

With a Fibonacci retracement line, from May's high to Junes low. We have slowly moved up the channels. As price actions came to the 0.76 fib line, bears pushed price action down to the 0.38 line. Shortly after, bulls rallied to the 0.76 line. If price action trades above the 764 fib line I will be opening a long position. In the mean time, I am short on the...

UnknownUnicorn200545

In the big picture, we may be seeing a corrective wave from last months highs. In the smaller picture, price action is testing the support line, of our upwards channel. This is a technical bullish set up.

UnknownUnicorn200545

Looking at the USDJPY, a purely technical analyses, shows me a potential for a short, if price action begins closing downwards. -The MAC, D has crossed down. -Williams %R shows overbought with downward momentum.

UnknownUnicorn200545

Starting with our daily chart on January 16, we view technically what could be a forming triple dead cat bounce. This may prove a confident entry for day traders. One tool we will utilize in interpreting market behavior is our Fibonacci Retracement Line. Starting with January 16th highs, connecting to February 2nd lows You will notice that below the February...