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$USDJPY ‘s value is lower$USDJPY made excess high on 30th Oct, which indicate a liquidation. I am little bit late on this but to turn this pair to much deeper, we need to see new seller while USDollar Index is weakening. Otherwise the Pair will loose momentum for bearish move. $JPY is the weakest currency among the major forex pair, let see if there is more buying on JPY , which is sellers on USDJPY. Many retail traders jump on selling USDJPY without seeing the strength of the currency and don’t monitor the follow through. We can’t just trade base on the pattern only. We need to check any related instrument. If buyers of USDollar index come back aggressively, this pair turn very quickly.
Short
by ruby_kinetix
$DAX is the most bullish index Europe $DAX break 12800 level. This key level is very important. SInce EUROSTOXX and FTSE are still within the range, I need to see acceptance above this key level. then 13000 - 13200 will be next destination. The serious failure above this key level will make DAX index just looks too high and too expensive. The profit taking , liquidation and new money selling will make this bullish pattern become ugly. but for now, I will trade with the bulls.
OANDA:DE30EURLong
by ruby_kinetix
$GOLD need to make a change$Gold has been in balance range for 8 days, 1475 bottom - 1495 top is my small balance, and 1515 top for wider range. The value is in lower half of wide balance, but the buyer still aggressive from every low. i need to see a change above 1495 ; either an acceptance or rejection. This uncertainty kills the hope of medium time frame traders. But note that 1 October was a good excess low. This spring need to bring the price to move above 1515, otherwise that spring will be penetrated. all we can do right now is ping pong trading. News catalyst is need here.. let's wait.
OANDA:XAUUSD
by ruby_kinetix
DXY ready for Changing behaviour$DXY made an excess high (circled), and this indicate the chart is about to turning down. Ideally DXY will turn down to 98.50 area. if it's so the formation will be a changing its behaviour (COB). But I don't see and an aggressive selling on the following day (today), will it surprise us to the upside ? Excess high or Upthrust shall initiate a down move, if not it shows that the demand is still high .. For now, I like to find low risk for selling the USD, then will work on the following chart.
TVC:DXYShort
by ruby_kinetix
$USDJPY potential for excess low$USDJPY is potential for making an excess low (spring) at daily structure. if there is a new buyer, this will bring USDJPY to the 109 level which I consider as an axis line, which mean 108.45 resistant zone is expected to be broken. This resistant I consider as a poor high. This Bullish bias will not be easy, because we need $DXY , the US dollar index to go higher too. Otherwise, the bearish will still in control an it may test 105.50-105 support zone. This is not clear yet as $DXY do have a responsive buyer after breaking the structure. We need to see $USDJPY to trade above 107 to see bullish power, otherwise it will trade lower.
Long
by ruby_kinetix