Negative news regarding Coronavirus "possible pandemic"? USD strengthening as safe haven currency. Global equities fell this past week.
Oil demand is weak. Weakens CAD.
Monthly FIB shows possible retracement towards the upside of 1.3650.
USD economy continues to chug along at moderate strength in comparison to Canada (not bad, but US still stronger) prior to...
Nearly all the major reversals occurred at or near one of the Fib zones. The accuracy is there. It's good stuff.
I hope you find it useful if you don't have a similar chart.
Let me know what you think.
The monthly graph shows the current price point is at a major historical support/resistance. This area was a major support zone for the exchange rate in the mid-'90s. Visited again in the early '00s, 2009.
but more recently,
1.32625 (+/- 200 Pips active range) is a highly contagious price point for the pair since July 1st, 2015. Since then, 1.32625 has been...
Is there enough support to let it ride the .50?
Consolidation taking over on the daily chart so next week should shine through on the direction. Thoughts?
Will MSFT break above this resistance line and Fib line, or shoot back down to the midpoint/ lower Bollinger band?
Use the chart for some guidance.
Mind the trend and market conditions.
We can contribute the recent buyback news to the stocks recent upward momentum.
Take note of the support found on the yellow Fib line. Using a support line starting back in 2011, we can combine that with our fib line to create our long term USDJPY support level.
Resistance expected around 110.000 -112.000. Mind the resistance line that began in 2015.
Use this to support your fundamental analysis and set your short/long term trades as you...
A useful perspective to understand the coming convergences between two powerful resistance markers that are further supported by a Fib .50 resistance line (Top Left DXY Monthly). Use this as you look at the other charts.
Add in your own averages and you gain additional insight into the overall trend.
At this point, fundamental support could help push the DXY...
Fib Retracement zones were fairly consistent. Very cool to see the Fib Magic in motion. Monthly charts help to provide a clear picture of how consistent the support and resistance lines are.
Enjoy.
