US DOLLAR TECHNICAL ANALYSIS – Prices may be gearing up for a turn lower after prices produced a bearish Dark Cloud Cover candlestick pattern. Near-term support is at 11246, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 23.6% level at 11211. Alternatively, a reversal above the 50% Fib expansion at 11295 clears the way for a test of the 61.8% Fib threshold at 11329. ...
Talking Points USD/JPY tests trendline resistanceGBP/USD threatening new yearly lowsFXCM US Dollar Index in consolidation mode USD/JPY USD/JPY traded at its highest level in seven years yesterday before running into trendline resistance around 116.00Our near-term trend bias is ...
US Dollar Poised to Extend Gains After Break of ResistanceS&P 500 Clears September Top, Sets Another Record HighCrude Oil Digesting Losses, Gold Drops Most in 11 Months US DOLLAR TECHNICAL ANALYSIS – Prices look poised to extend its advance after prices cleared yet another technical barrier. A daily close above the 50% Fibonacci expansion at 11308 exposes the 61.8% level at 11400. Alternatively, a turn below the 38.2% Fib at 11216 opens the door for a challenge of the 11102-43 ...
GBP/USD is poking above the 1.5880 mark in the wake of a Harami pattern. A close above the barrier would help confirm the key reversal formation and open the prospect of a more sustained recovery. Selling interest would likely be renewed at the 1.6170 ceiling. A slide back below 1.5880 would see the risks skewed towards the Mid-September 2013 low near 1.5770. Harami Awaits Confirmation Near Key Barrier ...
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. -“Near term, price action since the October low likely composes a 4th wave correction within a 5 wave ...
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