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WTI US Oil Inverse H&S near termUSOil daily chart showing an inverse H&S pattern. Price is closed at neckline of $42. Breakout above $42 with meaningful conviction may bring the price to next major resistance of $45 to $46. Momentum indicators like CCI and RSI still have room to support potential upswing in prices. OBV yet to show improvement. Failure to break neckline signals continuation from the bearish downward trend to $38. Zoom in 4hour chart to see clearly inverse H&S pattern.
FX:USOILLong
by frexbull
GBPUSD MONTHLY OUTLOOKWe are prepared for all scenarios. This is not a trade setup this is just an outline a structure. The trade setups are set in our desired time frames. As there are uncertainties in the market we like to analyse both outcomes and just follow what price action demonstrates. However, as you could see we have lower highs with a possible target to create our 3rd lower high on a trend line bounce. We have divergence which represents the sellers are not strong as they seem. We still play it safe. On the break out of the mini trend line, our first upside target would be 1.4000-1.4500. If price does break above the downward trend line and disrespects the lower high structure then we would be waiting for a retest to the trend line and a possible continuation up to targets 1.6000 then 1.7000 and so on. On the other hand, if price does break below the lower trend line, below 1.3000 then we can see further downside targets of 1.2000 then possibly 1.0650. This is just a forecast. ***TRADE AT OWN RISK***
Long
by SERGENAYTUG94
CADCHF - Weekly outlookFollowing on from the Daily analysis I posted, this is the Weekly outlook. We of course don't know what's going to happen, but it's always advisable to stay ahead of the market and prepare for as many eventualities as possible. Option A The red box is the PRZ on the Daily TF. This falls short of the overall down trendline, but sits nicely in a strong Supply Zone on the Weekly TF. Option B This is where the decision point is likely to be made if we break the Lower Low on the Weekly TF. Summary Considering the strength of the bullish momentum on the way up, we've already taken out one Supply Zone (labelled 'i'). This is true to the characteristics of an advanced harmonic pattern (in this case a Daily bearish Bat formation). If we compare the strength of the buyers vs sellers at the PRZ, I'm expecting the trade to be successful, but anticipating some serious buying resistance.
Short
by JakeSummers4x
Year-end gold prediction: $970-$1030Technicals This very strong trendline has been lasting for gold for some time now, and I don't expect it to stop, and it has just been touched, so this looks like a very good place to get in with a short position if you agree with this outlook (many will disagree!). Disadvantages The US economic data is currently not bad, but not great, and consumer spending most certainly isn't great. This suggests that the Fed may not reach, or get much closer to, their inflation target. This could result in backtracks on interest rates which will ultimately result in the price of gold increasing. In addition to this, the markets are pricing in a 13% chance of negative interest rates by 2017! Advantages Despite consumer spending data, I think that the Fed will continue to raise interest rates for the duration of the year. This is because labour statistics remain strong, and the US economy isn't in a poor enough state, in my opinion, for the Fed to halt their rate path. I have tagged an alternative opinion from someone else below.
FX_IDC:XAUUSDShort
by olly_price
AUDUSD - Weekly outlook1) First of all we saw a break to the upside and retested the downtrend trendline, meanwhile respecting the CTL. 2) Breaking the CTL we retested the back of the downtrend trendline (2i) 3) We have since pulled back into previous structure which happens to be a 61.8% fib level and the back of the CTL. We have also formed a nice rejection candle which could be the first of the shooting star formation. I think if we get the right conditions with the major news releases next week, we can expect this to fall to as low as 0.6500 with a few stop offs at 0.6800 and 0.6600.
Short
by JakeSummers4x
Macro Outlook : Crude Oil vs Fed Funds RateHi Traders, We are probably very close to a bottom in crude oil prices due to last hike on Fed Funds interest rates. The charts shows certain correlation , not purely exact but it provides forward guidance, with the exceptional period of QE . Technically it formed a channel that supports reversion to the mean Not necessarily represents an inmediate rally in crude oil prices, but a consolidation period . I hope it helps Josep Pocalles
NYMEX:CL1!Long
by Realisto_FX
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