As we see from M5 chart below - the uptrend is started after correction finished - the price was stopped by 44.97 resistance. if the price will break 44.97 resistance level on close M5 bar so the primary bullish will be continuing (good to open buy trade)if not so we may see the secondary ranging or correction inside the primary bullish ...
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 EUR/USD turnover failing to confirm recent dropGold nearing key support zoneUSD/JPY touches important long-term trendline USD/JPY USD/JPY reached new multi-year extremes late last week before stalling near a key long-term trendline connecting the 2002 & 2007 peaks around 109.50Our near-term trend bias remains higher in USD/JPY while ...
EURUSD 13 year trendline just below 1.2800 (USDCHF at 30 year trendline!)USDJPY nears 13 year trendlineNZDUSD at midpoint of 2011-2014 range EUR/USD Weekly -“Long term, a failed breakout and top would keep with the pattern of 3 year cycle tops. The break of 1.3476 completed a topping process with targets of 1.3294 (origin ...
First, before you can trade a price channel, you need to identify on your graph. This process can be done relatively easily using basic technical analysis. Traders should first identify and connect a series of highs and lows on your graph. Below we can see an example of this process on a EURAUD 4Hour chart. Notice how resistance has been formed by connecting the two previous highs to form a ascending line of resistance. Since resistance is rising, this means support should be rising as well as with ...
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