As per, the chart the line showing the downtrend has been significantly breached to the upside, as well as broken through a nearby minor resistance creating minor support. There is the possibility of an immediate buy to ride the upward momentum, however, a more cautious trader may wait to see a retracement and retest on the other side of the downtrend before...
Closure above and restest of the resistance area would be a very clear long position, however, it seems like we are more likely to see a downward push before that, current selling bias however this could change if we see candlesticks pushing through the purple area.
With the current repo operations conducted by the Fed, housing and rental prices out of the grasp of the masses and an economy that is beginning to show very concerning cracks the days of the US dollar are numbered. We may see the start of financial crises beginning before the end of the year, the future looks bleak for the US dollar. Of course in the throws that...
A nice resistance area and a candle that shows a shifting momentum lead me to believe that we could see an upward push next week given that both the current and the following candle supports the idea.
With the movement of the current daily candle, we can see a significant decrease in the momentum of the large upward push that started last week, however, a decrease in momentum does not necessarily mean a reversal. Though, we can see a resistance area that is close to where the momentum is slowing down. My expectation is to see at the very least a pull back from...
A no-deal Brexit has recently been blocked creating room for GBP to grow, and with the US trade war with China escalating the USD has a long way to fall, my current expectation is for GBPUSD to reach the lower support before going up, however we should not dismiss the possibility of an immediate rally, It will be difficult for the pair to fall lower than the...
I am looking at Gold with both excitement and worry, It has been on the up and up for a while now indicating a growing demand for the shiny commodity. This is likely due to the fact that a lot of influential people are bracing for an economic slowdown and want to protect their assets. More recently Gold has been playing with a reversal, this can be attributed to...
