USDCAD had broken above the downtrend line. The question is will it bounce? If so, how high will it go?
With several days left in the month of July, anything can happen. By mean 'anything', I mean Trump wanting a weak dollar, trade war, raising interest rates, and so forth. So we take a look at the USD chart to give us a hint as to where the Greenback could be heading in the near future. First, we look at the monthly and there we see a possible dark-cloud pattern;...
KOD is an abbreviated term for 'Kiss Of Death', against resistance that is. We'll see what happens! Happy Trading, folks! Cheers!
Why should we enter long on USD/JPY? Fundamentals: - The Fed will likely continue hawkish following U.S. economic strength - The Bank of Japan will remain dovish due to low inflation data (0.7% in May, far below the 2% target) Buy USD/JPY 109.90 SL: 109.40 Target 1: 110.60 Target 2: 111.30 Follow me to get more signals and analysis
Today we have seen this pair push well below our trendline which indicates a lot of selling pressure from the bears. After yesterday's daily close (indecision) and today's rejection off of the low 1.1690, the scale slightly favors the bears. With that said, we are looking at the Bearish Gartley pattern. I don't trade these patterns often but feel free to correct...
On the chart, clearly, we've seen the break of the downtrend line. We are now seeing the euro pull back and whether it continues lower or it bounces off the trendline will come down to Draghi's speech today. Happy Trading, folks! Cheers!
Here we look at the USDJPY daily chart, and although it appears to have broken above the trendline, the RSI reading did not. The daily bullish candle could be an exhaustion bar, or it may not. Only time will tell. Happy Trading, folks! Cheers!
It took almost a whole week for this pair to fall. Which means buyers are still holding (in my opinion). We'll see if it breaks the trendline and continue higher. Happy Trading, folks! Cheers!
Today we saw one of two things, a selloff on the dollar or profit taking. At the moment USD is resting on support trend line. However, on the daily candle (evening star), there's a possibility that starting next week we'll be seeing more of 'Redback' for King Dollar. Leave a comment below if you agree or disagree. Happy Trading, folks! Cheers!
Planning for weeks ahead, we look at the technicals to anticipate where the market may be heading towards in the near future. In this weekly chart, we have seen the dollar failed to break above major resistance line. Although too early to say if it's heading lower, next week will give us a better look, or the following week. Happy Trading, folks! Cheers!
Trading Perspective on The US Dollar (June 3 – June 9): Bullish Fundamental Forecast for The USD: Bullish The Greenback got a week full of good news. U.S. economic indicators coming in so positively, notably Unemployment Rate falling to an 18-year low of 3.8% coupled with Nonfarm payrolls beating economists’ expectations (223,000 versus 188,000) continued to...
Trading Perspective on The US Dollar (May 27 – June 2): Stand Aside Fundamental Forecast for The USD: Bullish Next week brings a series of important economic data releases out of the US. Most of them are expected to support the Fed’s rate hike path in 2018: Q1’18 Gross Domestic Product is forecasted to remain at 2.3%, Unemployment Rate is anticipated to remain...
USDJPY Short Price have reaches level of resistance. RSI overbought on Daily TF. Double top on 4h TF with divergence. DXY, JXY have been trending in my opinion trend continuation could continue. GOOD LUCK
Good shorting opportunity on GBPUSD pair. Price have made double top price in area for short. RSI overbought. GBP appreciated significantly I think its time to depreciate. GOOD LUCK
We see a clear trend marked with black dotted lines. We can also notice that sometimes our chart drifts down (1), sometimes in the middle (2), sometimes at the top (3) between designated trend lines. I decided to look at this situation and calculated the time, as long the graph persists in designated areas. The calculations show, that the lowest trend (1) was for...