darcsherry

darcsherry

Since the price moved 250pips in our direction since my last publication on this pair; the USD/CAD gained downside momentum and is trying to settle below my Key zone at CAD1.3200. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic (AB = CD expectations) Observation: i. Breakdown of CAD1.32500 zone on the...

darcsherry

The British pound rallied significantly during the course of last week which happens to be driven by improving risk appetite. It is worthy to also note that the JPY crosses have been drifting higher alongside global equity markets as this stimulus continues to be a major driver of markets. This been said, the Key level @ Y136.600 will be my yardstick in the coming...

darcsherry

Running 90pips in the opposite direction of my last speculation; The euro surged to a new high against the dollar on Friday and looked to close above a key level that could signal further gains amid optimism about stimulus and President Trump’s recovery. Tendency: Uptrend (Bullish) Structure: Trendline | Breakout | Supply & Demand Observation: ...

darcsherry

Price moved 130pips in our direction before rejecting our previous key level ($1.28700) followed by an engulfing Bullish run in the later part of the week to negate previous bias (see link below for detailed reference purposes). Following the EU Summit on Thursday and Friday (a critical moment to reach a Brexit deal ), the Pound turned around during the week to...

darcsherry

With over 7,500pips in our direction since my last publication (see link below for reference purposes), Gold’s standing as a safe-haven became more questionable on Friday as price dipped despite President Donald Trump testing positive for the coronavirus. This development further hypes a risk for a decline in the following week(s). The expectation of a harmonic...

darcsherry

It is over 60pips in the opposite direction of my last speculation (see link below for reference purposes) as the price rejects my previous Demand level hereby increasing the further risk of a decline. The US Dollar came under pressure in the late Asian session on Friday and dropped below Y105.000; even though there was a mild rejection of this level, it is not...

darcsherry

With over 250pips in our direction since my last publication on this pair (see link below for reference purposes); Price experienced a Correction phase to climb back to our previous Key level @ $1.3000. Since the termination of the Impulse leg that began this month, the price has been moving sideways between $1.27000 and $1.30000. The optimism on Brexit coupled...

darcsherry

It is over 150pips in our direction since my last publication on this pair (see link below for reference purposes); The “risk-off” situation going on globally appears to favor the US dollar as the Euro rejected the Demand zone and fell during the trading session on Friday to close below $1.17500 (making this level a Supply zone as Selling pressure increases from...

darcsherry

The Euro appears to be gaining momentum after such a long time lingering in the background of a Bullish Franc as it begins to find her way a major Demand level. A bullish engulfing candle breaking out of Major Support/Resistance level last week is a sign that supports a Bullish perspective in the coming week(s). Tendency: Uptrend ( Bullish ) ...

darcsherry

The Pound bounced with a vengeance after seeing a Double Bottom structure on the weekly chart to continue her rally! A Breakout of N$1.93500 last week followed by a retest of N$1.94000 later in the week summons a rally continuation in the following week. Tendency: Uptrend ( Bullish ) Structure: Breakout | Reversal Structure ...

darcsherry

The dominant perspective that the Kiwi could suffer on new measures from the Reserve Bank of New Zealand brought forward on risk-off has a significant reflection on the chart as we experienced a Breakdown of Key level at $0.66000 after series of Bearish wave though the whole of last week. Tendency: Downtrend ( Bearish ) Structure: ...

darcsherry

The skepticism in the market in the last couple of weeks culminates in the limelight for the Bulls as Nasdaq-listed company MICROSTRATEGY recently bought almost 17,000 BTC within the last 74 hours. As the Breakout of Key level at $10,700 last week holds, we are beginning to find a "new" Demand niche around this zone as price consistently makes sharp rejections of...

darcsherry

The CAD continues to struggle through the first half of the month as the Yen looks to re-emphasize its dominance in the coming week(s). As I look forward to the Breakdown of Daily trendline, a correction/retest of this line might be a simple signal for me. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Reversal Pattern...

darcsherry Updated 

Weak economic data and pressures on the oil market are taking a toll on the CAD as it continues to find it difficult to raise the bar. The sharp fall after reaching a peak of 0.70000 appears to hold ground. Tendency: Uptrend ( Bullish ) Structure: Trendline | Supply & Demand| Reversal Pattern (Head and Shoulder) Observation: i. Even...

darcsherry

With over 150pips in our direction since my last publication (see link below for reference purposes); the pair remains range-bound between Support at 1.31350 and Resistance at 1.32500 with Breakout potential building considering the hold of the Major Support/Resistance zone on the weekly chart after the Bearish run that started in March 2020. Tendency: ...

darcsherry

With over 350pips in our direction since my last publication (see link below for reference purposes), we continue to experience tendencies for a decline in the coming week(s) as UK Prime Minister Boris Johnson agreed to compromise on the controversial Brexit bill. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Support &...

darcsherry

With over 250pips in our direction(see link below) before the correction, it appears we are in another opportunity to take a ride on the rally again. It is worthy to note the evidence of momentum building up at the Demand zone ($0.72500) as the AUD/USD pair recovered the ground lost at the beginning of the week on Friday, to settle and close above the Demand...

darcsherry

AUD/NZD is aiming higher within the broad range despite the announcement from Reserve Bank of New Zealand's governor Orr at the beginning of the month (September 2020) that the central bank is ready to deliver more stimulus. Presently, the pair is trading above the Breakout of the Bearish Trendline hereby closing the last week above the Demand zone @ 1.09200 ...