Dollar has been too strong lately and maybe it needs a bearish correction. Also, EURUSD is testing a bullish channel which might work or not. Gold seems to be making a bearish correction (maybe around 1235 but I'm not sure. Also remember USDJPY and SPX and DJIA are directily correlated, so if the setup works we might see a higher stock market too. Everything will...
We find different trendlines and an important support at this point. If the stock market keeps rising we might have a lower price, also because commodities and bonds trend inversely (1) we could have a small change in the trend, because both oil and gold have fallen.
1. Murphy, J. J. (2015). Trading with Intermarket Analysis: A Visual Approach to Beating the...
After US positive data, China possibly lowering demand and inventories with an Oil flood, the 50-55 range was broken, though these prices under 50 do not really benefit shale producers or OPEC (and therefore could not be 100% sustainable if demand doesn't decrease further), we could have a longer dip to $46 (watch weekly chart I will share) and then maybe a...
So, all else being equal, and based on past behaviour, we could have a buy next week for USDJPY. Remember the US stock market correlation with USDJPY and that we'll have some important data (Japan GDP, nonfarm payrolls etc...). Good luck!
So this is not meant to be very serious but I've seen recently some values do fit and due to the importante of these fib retracements it could happen. I actually see the C rather in the 0.382 but I tried to make it fit with an old trendline. It is bullish to me anyway but where it will stop is the real question :)
Interesting to short now. Due to the yen being supposed to be a safe haven currency and a simultaneously strengthening dollar, direction might not be perfectly clear, but the overall trend seems bullish to me. This will probably depend on #BoJ and #Fed incoming action. Good Luck!
Today I will stay neutral; everything will depend on the elections. The trendline doesn't seem solid to me but it could act a bit on the price. Let's see how it develops!
So there's a reasonable expectation for the EURUSD to correct after the huge rise seen these days. There are several old zones (suports and resistances) that could work, yet the H4 could prove evidence otherwise. Fundamental factors do in fact point to EURUSD not getting back to the pre-draghi levels in my opinion, but it rather depends on the NFP data tomorrow...
Hi fellow traders, just sharing my first idea with you. Watching this daily chart of XAUUSD makes me think of an inmediate bearish bias while confronting certain moving averages in H4, though the main trend should be bullish due to US elections and Brexit debates intensifying. The fibonacci lines come way back to 1999 and seem to work more or less fine in the...
