Talking Points: US Dollar Signals Near-Term Top Forming Below Six-Month HighS&P 500 Chart Positioning Hints a Downturn May Be in the CardsGold Moves to One-Week High, Crude Oil Struggling to Advance US DOLLAR TECHNICAL ANALYSIS – Prices may be carving out a near-term top after forming a bearish Evening Star candlestick pattern. A daily close below the 14.6% Fibonacci retracementat 10618 exposes the 23.6% level at 10591. Alternatively, a reversal above the 14.6% Fib ...
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’ ...
One thing I have talked about several times which cannot be understated is that is the tendency for investors to believe that complex trading ideas and automated trading systems are better than simple, logical ones. At first thought this notion is completely understandable. After all, if an idea is fairly simple, how could it possibly be “a secret” and investors not using it yet? Successful trading and investing is not about how good you look or how impressive you sound in ...
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 ...
Talking Points: USD/JPY Technical Strategy: FlatSupport: 103.53, 103.05, 102.75Resistance: 104.00-12, 104.30, 104.54 The US Dollar is hovering near the highest levels in five months against the Japanese Yen after rallying the most since mid-March earlier in the week. A daily close above the 104.00-12 area marked by the 123.6% Fibonacci expansion and the April 4 swing high exposes the 138.2% level at 104.30. Alternatively, a turn below the 100% Fib at 103.53 opens ...
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