ForexAnalytixPipczar

ForexAnalytixPipczar

26 April: Intraday Update: The GBPAUD has hit the 161% extension as expected, so bulls should be careful as intraday RSI is overbought. Current price is at 1.8907.

ForexAnalytixPipczar

Targets well below 24.00 and should usher in some USD strength as a byproduct

ForexAnalytixPipczar

Double top in copper targets below the 200dma at 3.70, break of channel will assist.

ForexAnalytixPipczar

End of Day Analysis: The triangle top held and a drop back into the apex of the triangle should allow for a move back below the 50dma and back to the .8765 triangle support in the days ahead.

ForexAnalytixPipczar Updated 

We have reached the 127% extension as expected yesterday, however the daily RSI is very overbought and could suggest we are at a bearish gartley reversal area. Bulls should be careful.

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The NZDJPY is facing the RBNZ overnight, and with the RBA signaling they will be stationary with monetary policy for awhile may clue in what to expect tonight. The RBNZ is expected to raise rates .25 % however if they chose to come in with more of a dovish stance, the NZD may come under pressure. Expect that a move below the 82.65 level would trigger a double top...

ForexAnalytixPipczar

This is a long term view we have had on the AUDUSD at Forex Analytix Take a look at the bearish pennant that is developing. what could put the AUD down in the low .60's again? A second half 2023 global recession? Dovish RBA & CB divergence?

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Strong support zone, so if you are long risk you have to be careful now

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The SPX is marching higher in the ascending wedge towards the key 4050-4080 resistance zone where fresh shorts may be looking.

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Intraday Update: The USDJPY has basically completed the long term pennant on the dip below the 130.00 level today. The move may not be over, but short this pair has to be careful as the RSI is majorly divergent as we near the 78% retracement under 129.50. Any bounce back towards the 132.00 should find sellers near term.

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23 March: Intraday Update: Intraday head and shoulder pattern targets 1.0800 in EURUSD

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Gold hit the 127% extension of the Feb/March selloff today at the 2005 level and we'd expect dips back at the broken trend line at 1945 to find buyers.

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End of Day Analysis: Bitcoin has stalled at the 38% retracement of the 2022 highs to lows. The 16% extension of the last move lower comes in at 28881 which capped the rally today. We'd expect a move back to the 25K level as the RSI is very divergent.

ForexAnalytixPipczar

A big rejection of the descending and bearish wedge trend line (and 50dma) will keep the bearish bias in tact as a possible double top continues to setup longer term with the pair. In addition, the rejection of the 38% retracement at the 1.2119 level also weighs on the pair, enhancing the bearish case for the pair. A move below the 200dma would be near term very bearish.

ForexAnalytixPipczar

Friday morning in Asian trade we will be seeing a couple things that could put in some volatility in the $USDJPY. Number 1 would be the inflation data being released at 8:30pm ET. Also, BOJ nominee Ueda will be attending a hearing which could lead to some JPY volatility as we could get a glimpse of how he will steer monetary policy at the BOJ. Technically, the...