US DOLLAR TECHNICAL ANALYSIS – Prices may be preparing to decline after prices put in a bearish Evening Star candlestick pattern. Near-term support is at 11725, the intersection of the 14.6% Fibonacci retracement and a rising trend line, with a break below that on a daily closing basis exposing the 23.6% level at 11640. Alternatively, a move above the 11854-88 area marked by the March 2009 high and the 38.2% level clears the way for a test of the 50% Fib at 11983. ...
US DOLLAR TECHNICAL ANALYSIS – Prices are struggling with downside follow-through having topped as expected. A daily close below the 14.6% Fibonacci retracementat 11599 exposes the 23.6% level at 11527. Alternatively, a reversal above the 23.6% Fib expansion at 11699 opens the door for a challenge of the 38.2% threshold at 11796. ...
Talking Points: EUR/GBP Technical Strategy: Pending Short at 0.7839Support: 0.7804, 0.7761, 0.7727Resistance: 0.7869, 0.7891, 0.7926 The Euro appears to be resuming its long-term down trend against the British Pound following the appearance of a bearish Three Inside Down candle pattern. Near-term support is at 0.7804, 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 0.7761-65 area marked by the 38.2% and the September 30 ...
EUR/USD Weekly -“BIG picture, monthly RSI has broken out of a triangle pattern. Sometimes, a pattern breakout in momentum (or OBV) precedes the breakout in price. The development’s implications are obviously significant.” -EURUSD has now taken out the 2012 and 2010 lows. Only the 2005 low remains before ‘free-fall’ ...
The New Zealand Dollar looks set to test below the 0.76 figure against the US Dollar after narrowly overcoming chart support. A daily close below the 0.7556-80 area marked by the bottom of a falling channel and the 23.6% Fibonacci expansion exposes 38.2% level at 0.7401. Alternatively, a reversal back above the 14.6% Fib at 0.7691 opens the door for a test of channel top resistance at 0.7827. A very narrow break of support and the Hammer-like structure of the latest candle hint at elevated ...
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