Two weeks ago I posted a possible Dollar Reversal due to a Head & Shoulder Pattern. On Thursday it was confirmed breaking neckline. Our projections according to Fibbonaci retracement are Resistance at 95.91 followed by 97.41 with target price at 98 taking SHS width.
USD/CAD is driving in an uptrend channel. Applying an Elliot Wave where correction B has finalized. Should find support near 61.8% Fibbonaci before reverting
On a daily chart WTI has performed under an Elliot Wave Pattern since July. It's final trend wave ended on late September with help of OPEP statment of commitment to current output and Turkey's threat to cut oil production.
Since then bears have taken control in Oil industry. Wave A managed to touch Fibbonaci 38% level before entering wave B. Although we can't...
Supporting a Euro Reversal. EUR/AUD rallied to resistance 1.523, however in my last week post I stated technical indicators didn't support a breakout. This week we saw it happen, price reverted to 1.491 on only two days. On a daily chart an ascending triangle is formed. Time will tell if it has enough strength to break support, or if it will return back to...
Under the past weeks I've been posting a dollar reversal scenario, this week we are closer to that output. US Index broke a 6 month resistance downtrend on late September. Oscillators on 1W chart were showing enough strength to break resistance line and it happened. It rallied four straight weeks and found resistance at August Peak before correcting.
On this...
Under the past weeks I've been posting a dollar reversal scenario, this week we are closer to that output. EUR/USD broke a 6 month support uptrend on late September. Oscilators on 1W chart were showing enough strengh to break support line and it happend. It rallied and found support at August Peak defore correcting.
On this week a Head & Shoulders pattern was...
We have seen Aussie climb the past weeks aggressively and now its located on a weekly resistance not seen since to May 2015. Oscillators show a divergence in price just as we saw it in March-April of this year. Under this analysis bulls are ready to close their open contracts and receive profits while nears are ready to take action.
Supports 0.782/0.78/0.776
