The Aussie dollar is heading into the crucial area around 0.775. In terms of structure we are expecting a new higher high, but looking at the previous, we had a very weak projection which suggests there isn't a lot of buying. I think we will see it start to range a bit or even fall if the dollar starts to gain. But I am targeting a buy if I get a signal around the...
Long term I am bullish on this pair, but this is a short term sell. We have a ABCD pattern completion around minor support and resistance. Also good price action with multiple rejections on the hourly.
Long term look on gold. We are forming an ascending triangle so we can look buy with the trend line or sell at our horizontal resistance at 1350. There is also really strong support at 1300 which could be another good place to buy. Price is in a range at the moment, but I still think gold is bullish because of the weakness in the dollar.
In terms of structure we are expecting a lower low. We broke our previous low and there is less buying pressure. I would expect price to move back down to the 1.205 level. Also looking at the previous down swing we can see a steeper angle, which suggest that selling momentum is building. Although caution is necessary, because of how bullish this pair has been over...
Looks like bitcoin will retest the $7000 to $6000 range again. There wasn't much buying pressure as price pushed up into the $11000 range, which makes me wonder if it will last long term. However will look to buy if we get a good signal in that $7000 to $6000 range.
Bitcoin now heading into a very crucial area between 7500 and 5500. We should see some resistance, but it's up to how much buying there is. People need to buy it in order for it to push back up and I'm not sure enough people are behind the whole, save the world from evil banks and government move. (Nothing against those people). If it starts to break below 5000 it...
Overall the US dollar still looks bearish, but on the usd/jpy hourly we have a possible inverse head and shoulders. Hopefully we will see a small pullback to the strong 111.000 level and a push back up to the 112.000 level.
Strong support area around 13000 to 12000, we could see a reaction from here and a strong push up or a strong push down to the 10000 to 9000 area where we could see more support. To be clear I trade bitcoin through CFD's so I don't have an agenda, I just try to make money if it goes up or down with logic.
