Gold have tested the resistance of the channel it has been in about 4months. and i strongly believe that upon the fridays close inside the channel even though the action by the bear was very small i think the bears will be heading for a test of the channel support @ 1220.000 zone
let wait and see how the market plays out and make opportunity to buy when the market is able to hold in the channel or to sell when the market out of the the recent channel.
NZDJPY was in a downtrend channel until it broke out to the upside then made a 400pip move to the upside a halted, since then it has fallen so nicely. Just upon recently it broke out a channel it made when it was moving upward on friday. As it stand now it looks like is heading for a retest of the previous channel or a fall into the channel again
After the breakout of the months long channel in which the pair has been in. i predict a retest of the lower border of the channel and a continue of the fall
This pair has been in consolidation since late August. Recently, it seems like the pair is heading towards the lower border of the channel.This provides two opportunities that is ; sell now and sell after break out AND sell now and buy later on rebounce.
After the breakout of a downward channel, the pair struggled to make a substantial upward move. it soon enter in to another channel but was a upward channel but on the friday it broke out of it and the pair would be heading to the lower border of the previous channel @76.400 zone.
EURJPY has been in a channel from 4th march and until recently on friday had beautiful breakout of this channel. the probability of the pair to continue lower straight as compared for it to go for a retest is higher but i recommended a wait for a retest of the lower border of the channel or yet till you can enter half of the position straight ahead and add on...
After the previous post, the pair has declined appreciably to the first target. on friday there was subsequent break and close below of the first target that reveals the second target @ 80.505
After a confirmed breakout by a daily close below the support, it continued with a subsequent to the the first target. On the friday, the pairs hold a close slightly below the first target reveal the next target @ 110.396.
The cable, after breakout of the downward channel to the upside entered another channel to the upside. just few days ago that uptrend channel was broken to the upside, so what next?. i would recommend a a retest of the the upper border of the channel before jumping into a buy. so just hold your guns and wait.
the Aussie has been in downward channel since the beginning of the year on 26th January and there was a descent breakout on 1st November to the upside. if you were in that breakout trade you would have made about 187 pips maximum. now the pair is returning back to the upper border of the previous channel, this is could be a retest or a returning into the channel...
CADJPY is falling and it will continue to fall until the market say "stop" which will be at major support as barrier on the way tho the downside. After the breakout of the channel that started forming with years low at 19th march on 5th December, these breakout followed a retest of the channel on 13th december and completed what i call the special engulfing on...
The pound present us with a double edge opportunity for either sell or buy under different condition. First let deal with the sell opportunity, the pound for a couple of weeks now have been in a consolidation. It bounced off the support zone @ 1.2700 a couple of times which is forming a wedge but six trading days ago this major temporary support was broken and it...
USDJPY also have been in the wedge flag more than two month with the wedge support been tested more than two time..... today a sufficient bear candle has spiked out the wedge to the downside and a daily close below the support will confirm the breakout. if USDJPY bears are able to hold this breakout, it will be a turn of a major direction to the downside. This...
