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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. -“Near term, price action since the October low likely composes a 4th wave correction within a 5 wave ...
Talking Points Strategy: Long, Stop: 114.60 (Close), Target: 115.90Absence Of Bearish Signals Opens Further GainsWatching H4 Chart For Signs Of Bulls’ Exhaustion USD/JPY has continued its journey higher with a void of reversal signals opening the prospect of a run on 115.90 (the Nov ’07 high). A pullback below former resistance-turned-support at 114.60 would be required to warn of a correction for the pair. Absence Of Bearish Signals Casts Risks Higher ...
Price & Time Analysis: USD/JPY USD/JPY traded at its highest levels since December of 2007 earlier todayOur near-term trend bias is higher in USD/JPY while above 113.15The 200% extension of the October decline near 115.00 in the next important resistance zoneA minor turn window is seen early next weekA daily close under 113.15 would turn us negative ...
Talking Points: US Dollar Corrects Lower Following Breach of October TopS&P 500 Still Treading Water Near September Swing HighCrude Oil, Gold Prices Decline to Levels Unseen Since 2010 US DOLLAR TECHNICAL ANALYSIS – Prices corrected downward after piercing October’s high to hit the strongest level in over four years. Near-term resistance is at 11216, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 11308. Alternatively, ...
USD/JPY’s astounding vertical ascent has left a lack of reversal signals in its path, suggesting the potential for further gains. The next definitive peak to offer a potential resistance region rests near 114.60, the December 2007 high. However, traders should also be wary of the recent weekend gap, given the tendency of such spaces to be filled which may prove a temporary setback. A daily close below the 110.00 barrier would be required to negate a bullish bias. Climbs Over Key Hurdles ...
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