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Talking Points: USD/JPY Technical Strategy: FlatSupport: 107.31, 106.50, 105.18Resistance: 108.63, 110.08, 110.76 The US Dollar moved higher against the Japanese Yen as expected after prices put in a bullish Morning Star candlestick pattern. A daily close above the 38.2% Fibonacci retracement at 108.63 exposes the 109.70-110.08 area marked by the 50% level and the October 1 high. Alternatively, a reversal back below the 23.6% Fib at 107.31 opens the door for a test ...
The USD/CAD bulls appear to have lost their grip on the pair after struggling to hang onto the 1.1200 mark. The recent pullback has left a Bearish Engulfing formation in its path, which awaits confirmation from a successive down-day. Validation would warn of a deeper setback towards the psychologically-significant 1.1100 handle. Bearish Engulfing Pattern Warns Of A Deeper Setback ...
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 decline from the May ...
EURUSD and USDCHF LONG TERM momentum pattern implicationsUSDJPY rebounds at year openNZDUSD next leg lower soon? EURUSD Monthly -“IF EURUSD trades to a new low while staying below 1.2791 THEN a 5 wave decline from the May high is probably nearing completion. 1.2315/28 would be of interest for a low. IF EURUSD exceeds 1.2791 while ...
Price & Time Analysis: EUR/USD EUR/USD has traded in a sideways to higher range since finding support near 1.2500 at the start of the monthOur near-term trend bias is higher in the euro while over 1.2605The 61.8% retracement of the 2012/2014 advance (polarity) at 1.2785 needs to be overcome to set off a more important correcttive move higherEarly next week is the next minor turn ...
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