MattViv

MattViv

We have 3 lines of resistance that could form the peak of the shoulder: 1. Fib 0.764 - 123.52 2. Trendline 1: from 123.80 and up 3. Trendline 2 - max 124.40 I believe one of these points will provide a reversal point, then if the move down breaks the neckline a potential move back to Fib 0.50 could be on the cards. I will wait for a neckline break before going...

MattViv

With WTI falling to low 40s again we could potentially see a new high for CAD..

MattViv

A few things to note here. Firstly, Trendline 1 coloured in red was a support line for quite a few lows earlier in the year, then when it was finally broken end of August it became a resistance area for the September high. We potentially have a same situation for Trendline 2, drawn from the April low to the low at the end of September, could now provide a...

MattViv

"A falling wedge represents a temporary interruption of a rising trend" - Pring I would like to see the following confirmations before going long: 1.) Full trading range above the upper trend line / above Fib 50% 2.) A reversal in the commodities index represented here by the histogram (currently still seeing lower lows) 3.) A positive cross on the MACD 4.) RSI over 50%

MattViv

We have a hanging man candle formed today which is a bearish signal. Target 0.618 Fib, stop loss 0.764 Fib

MattViv

An inverted hammer (bullish shooting star) has been formed today. Taking a long position with an eye on 1.08, if broken could see some further upside. Tight stop loss in the 1.07 area

MattViv

Spinning tops are characterised by smal real bodies and represent indecision in the battle between the bulls and bears. If a largish green candle forms tomorrow it will produce a 3 candle 'morning star' formation which is a bullish signal. The candle would need to close above the 0.618 Fib area to be a perfect formation. Target 0.72. Stop loss at 0.764 Fib

MattViv

JPY failed to move higher than 0.764 Fib today and we now have a bearish shooting star candle. Going to make a move short, targeting 0.618 Fib around 122.10 with at stop at the 0.764 around 123.53

MattViv

Looking at a small long trade back to 1.08. If the steep blue trendline is broken will look to continue long for the short term. Tight stop loss just below 1.07.

MattViv

I believe we have hit support on Friday as it touched the bottom blue trend line. Am looking for a long trade to the 0.236 Fib area initially and will see if this area is broken. Will place a tight stop loss just below 1.50. I believe there will be lower lows by the end of the year below the 1.50 mark.

MattViv

I believe we have hit short term resistance at the 0.764 Fib level. However I do believe there is a cup and handle pattern forming and thus once the trend line has been hit will expect a move towards and above the 1.3450 area. Initially my target is 1.3140 with a tight stop loss just above the Fib 0.764 area

MattViv

I believe JPY is slightly over cooked. Looking at the RSI in the +70 territory and widening gap on MACD I think we will see a slight retracement before hitting the 124 mark later on. Initial target of 122.10 with a tight stop loss of just above the Fib 0.764 area

MattViv

I believe we have hit reasonable support here at this red trend line and am expecting a reversal, thus am going long. My initial target it going to be fib 50% at 0.7142. Will be placing a tight stop loss just below the 0.72 mark.

MattViv

Two things to note here: 1.) Yesterday price broke the 50% Fib line based on this year's high and low. 2.) Also broke a head and shoulders neckline Would like to see a full trading range break below this neckline and 50% mark today to confirm a short signal. If this does happen I will be targeting the 0.618 area initially. The indicators are also converging in...

MattViv

There is an argument for a head and shoulders pattern here. However, I believe we will see a retracement up off the neck line before heading south breaking the 1.08 area. Target area after this would be 1.03

MattViv

We have Non-farm figures out on Friday which usually provides a touch of volility. I have highlighted the previous non-farm days with blue verticals. Last month figures were much lower than expected but if we see stronger figures this month it would tie in nicely with this steep down trend. A break below 1.08 could see further downside pressure.

MattViv

The monthly trend is down with lower highs and lower lows. Based on the all time high and low Fib at 50% is around the 1.21 area which could provide strong resistance going forward. If the trend continues to move down we could see a target area of parity but should we see a more significant move higher first before this price area is established? Or are we seeing...

MattViv

The Gann Fan fits nicely on the AUD chart and today the 4/1 line has been thoroughly broken. I believe this line could potentially act as resistance now as we see a move lower