theforexportal

theforexportal

Potential Fibonacci reversal on BITCOIN at 9750. More on the website

theforexportal

The relentless march of the EURO continues and shows no sign of relenting. Eventually SELLERS must enter this market if only to relieve topside overbought conditions (W1 (79.2) D1(71.2) H4 (81.5) H1 (86.9) and M30 (91.0) M15 (82.1) A reversal is coming but where will it happen? A possible target is the double 50.0 Fibonacci between 1,2131 and 1.2164. These are...

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The last 3 weekly candles on EUR/JPY have all touched the 200sma and failed to break through. This looks a tough barrier and the first candle of the week is heading south. TDI on the WTF suggests we may be moving lower with the RSI read down to 68.4 from higher levels. 130.64 is the WR1 key pivot resistance so a STOP above there at 130.70 gives a 100 pip STOP from...

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Some months ago I notice a strong Fibonacci pattern on the SPX500 that suggested there may be a top at 2486. Its difficult to predict exactly where this top is so it could be slightly higher. It will be interesting to see if the pattern conforms to the Fibonacci template as it has so far. The fundamentals suggest that this level will be breached and 2500 will be...

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Some months ago I suggested that there could be sellers of the SPX500 at 2486 (area). This was a technical suggestion based on a Fib. projection as shown. We are edging ever closer to this level. It seems highly likely we'll see a move away from this highly significant level but whether we see a mini collapse in the index remains to be seen. RSI studies are...

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An extended line drawn from the high of August 2015 to the high of May 2015 is now within reach . With ever increasing overbought conditions on the higher time frames this is now an area of increased interest. The fundamentals remain very BULLISH for the EURO so it will be interesting to see what happens if this level is hit (difficult to be exact but 1.1470...

theforexportal Updated 

If the UK wasn't holding a General Election tomorrow, the GBP/USD looks a banker SELL from a technical standpoint. Price has spiked through the 200sma on the H4 time frame and this move was strongly rejected and the current H4 candle has opened under the 200 and is struggling to regain that level. Adding to the BEARISH pressure is the WR1 Pivot resistance at...

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If there wasn't a General election in the Uk tomorrow. SELLING the GBP/USD from a technical standpoint looks a no-brainer. With price spiking through the 200 sma on the H4 time frame and this move being strongly rejected and the current candle opening below the 200 and moving south, this looks a solid SELL with a STOP at 1.2955 above the 200sma and coincidentally...

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The long range Weekly TF looks ever more BEARISH for the GBP. The TDI -0.08% sees the RSI crossing south over the upper volatility band and the signal line. From here a move back to the market line looks inevitable and this means this pair (and all GBP pairs) are likely to be headed lower. The DTF seems to confirm the BEARISH picture with price over 200 pips off...

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The long range Weekly TF looks ever more BEARISH for the GBP. The TDI sees the RSI crossing south over the upper volatility band and the signal line. From here a move back to the market line looks inevitable and this means this pair (and all GBP pairs) are likely to be headed lower. The DTF seems to confirm the BEARISH picture with price over 200 pips off recent...

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The EURO -0.07% has moved relentlessly forward since the beginning of the year and has climbed from 1.0340 to 1.1264 but with last week hitting the major 38.2 Fibonacci level and prices putting in a doji reversal candle, it may be time for the EURO -0.07% to head south. On the Weekly, the TDI -0.27% RSI line is outside the upper volatility band and is inside the...

theforexportal

The EURO has moved relentlessly forward since the beginning of the year and has climbed from 1.0340 to 1.1264 but with last week hitting the major 38.2 Fibonacci level and prices putting in a doji reversal candle, it may be time for the EURO to head south. On the Weekly, the TDI RSI line is outside the upper volatility band and is inside the reversal channel above...

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GBPUSD has 6 trading days been unable to break free of the channel it has found itself in. The support at 1.2780 is supporting the price but 1.29 looks out of reach from these levels. With RSI declining and H4 TDI very BEARISH, we could be about to see the BULLS give ground to the BEARS. Adding to the possibly BEARISH picture is the downward channel edge that...

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Signs of the EUR BULL run coming under pressure and with RSI dipping down towards 70 from overbought this looks a good place to SHORT EUR/CAD. First target will be the rising trend line although where price will hit this line is uncertain. CAD Retail Sales at 13:30 will have to be watched so its advised to tighten stops before this release as a poor print will...

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March put in an indecision doji candle and May appears to be doing the same. Coming at the end of a strong BULL run, this clearly shows there are increasing doubts as too how much further SPX500 BULLS can push the price higher. The Monthly RSI reads 71.16 slightly down from last month and but still in overbought territory. If we dip below 70 this could be a good...

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The AUD has performed well over the last week but with price now reaching overbought and AUDCAD approaching double resistance, we may see a decline from these levels. Being a holiday, volumes will be down but this can lead to volatility. We are taking a small position and SHORTING this pair from 1.0094 with a STOP at 1.0140 above all the resistance.

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With the DTF TDI signalling SELL and the H4 TDI signalling BUY its unclear which way this pair are headed. EURCAD is in a down trend as long as we remain below the 200 sma on H4 and DTF so the BULLS will need to take the price above 1.4279 to change the BEARISH picture. Price may head north initially but as long as we remain under 1.42 any pullbacks should be sold