The Euro is back to testing resistance guiding it lower against he US Dollar since January 2018, a barrier reinforced by the top of a choppy channel in play over the past two months. Another rejection might open the door for the next leg in the single currency’s slow downward grind while a break higher has might set the stage for a significant medium-term trend reversal. more...
EUR/USD Weekly -“In keeping with the 3 year cycle tops (2008, 2011, and 2014), EURUSD has collapsed. While the long term wave count points below 1.1875 (and to parity), one cannot ignore how extreme the current situation is and how long that extreme has been in place. Since the inception of the EURUSD, the rate had declined for 8 consecutive weeks once ...
Talking Points: GBP/JPY Technical Strategy: FlatSupport: 171.79, 171.26, 170.61Resistance: 172.64-83, 173.33, 174.01 The British Pound is attempting to overturn the down trend initiated against the Japanese Yen in early July above the 175.00 figure. Near-term resistance is in the 172.64-83 area, marked by the 38.2% Fibonacci expansion and a falling trend line. A break above that on a daily closing basis exposes the 50% level at 173.33. Alternatively, a turn below ...
Talking Points USD/JPY Technical Strategy: Sidelines PreferredDaily Close Below 104.00 Suggests A ‘False Breakout’Parade of Dojis Highlight Indecision Amongst Traders The USD/JPY bulls have seemingly lost their grip on the pair after a Doji signaled hesitation from traders near 104.00. The daily close below the critical barrier warns of further weakness and may set the scene for a retest of the 103.00 floor. Daily Close Confirms ‘False Breakout’ ...
EURUSD 1.3017 could produce an important low if reachedUSDJPY breaks outAUD relative strength EUR/USD Weekly -“Long term, a failed breakout and top would keep with the pattern of 3 year cycle tops. 1.3750 is an important reference point (year open).” -The break of 1.3476 completed a topping process with targets ...
Go to Profile
Mark as Read
