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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 ...
US DOLLAR TECHNICAL ANALYSIS – Prices are attempting to continue building higher having started 2015 off with the largest daily rally in three weeks. A daily close above the 50% Fibonacci expansionat 11648 exposes the 61.8% level at 11719. Alternatively, a reversal below the 38.2% Fib at 11577 opens the door for a challenge of the 11489-522 area marked by the December 8 top and the 23.6% expansion. ...
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 ...
USD/CHF Technical Strategy: FlatSupport: 1.0118, 1.0010, 0.9902Resistance: 1.0185, 1.0239, 1.0293 The US Dollar continues to push higher against the Swiss Franc, with buyers extending the advance for a fifth consecutive day. Near-term resistance is at 1.0185, the 138.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 150% level at 1.0239. Alternatively, a reversal below the 123.6% Fib at 1.0118 clears the way for a challenge of the 100% expansion ...
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