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EURUsd bearish continuation in the trend line channel

As expected previously, the EurUsd pair has continued its down trend on Fryday. Currently its sitting on a previously broken trend line, which should provide some support for a while. From this level moving forwards there are only 2 significant options:
1. The market moves strongly to the upside and starts an new bullish trend or, the more likely scenario
2. The market breaks the current support level and moves further down to test at least the lower down trend channel line.
On a longer term vie…
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EUR-USD

Eur-usd. visto desde una hora.
Posibilidades operativas.
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Yen gains strongly to start the quarter

Beginning of a new month, quarter or year is often accompanied by a start of a larger move, be it continuation or reversal. Yen gained about five cents against the dollar so far this month (and quarter) with USD/JPY falling from ~112.55 to ~107.65.
38.2% retracement of the Abenomics upswing (~106.65) is the first major support level to watch before 200 month SMA (~105.85) and 105 big figure level. Area between broken 110 level and previous range bottom up to 111 shall provide solid resistance in…
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USD CHF bounce and up.

During March and April 2014 market shown big uncertainty for a continuation to the downside in this instrument, finding a low near 0.870 right in the post-SNB interventation area (...).
As seen in the above monthly chart after the uncertainty, now market shows an interesting progression to the upside approaching quarterly opening rate 0.8925. The move is better seen in weekly timeframe:
The first touch down in 0.87 did not show much, but when second approach occurred 2 weeks ago (green arrow) ca…
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scramble 25 May

Market was able to conquer a bullish week and close higher than quarterly opening price (0.8925). the move was quite slow indeed I don't expect at the moment any strong moves on the instrument. More likely there will be some bounces between 0.9050 and 0.8930.

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scramble 13 Jun

update: direction and behavior confirmed. wondering if price will pass straight through the 0.91 line. Not clear atm! My expectations are anyway on a quick turn back in case of a straight move to 0.92 area. Possibilities for my target are in this case quite high. 2 weeks left, let's see

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GBP/USD continuation upward

In recent months market pushed this instrument to reach an old area, visited on September 2005 as support and later on August 2009 used as resistance. Precisely, the spot lies on 1.7042 as clearly seen in next chart (monthly TF).
Analyzing it deeper, I find some important resistances broken and even already confirmed as supports: see next chart with following explanation.
[list=1][/list]…
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Finally market conquered today the 1.69 area after some consolidation in 1.68. The move at the moment is not as steep as I expected but there is a good potential to see the 1.70 area visited soon. Could appear some more bearish pressure at these levels, but not yet. Will update at the end of current week to see how price will develop and close.

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scramble 13 May

The move to the upside slowed a bit, and price is stuck within 1.70 and 1.68 caused by increasing bearish pressure (expected). Ironically, price topped at my predicted level. On daily chart attached i drawn a quick update on what could be price developing, with a quick test of 1.675 last consensus area. Given the tight distance left to this contest expiry, hopes to see price near my level are still good, but not as much as when I published the analysis.

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scramble 18 May

Market as expected tested 1.6750 previous resistance area, showing a 2days bullish bounce. In the attached chart is where I expect price to be in next 2 weeks, so more probable a slow consolidation between 1.6770 and 1.6900 but I don't expect any strong downside to come in next 2 weeks.

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scramble 24 May

As expected last week, price is somehow entering a consolidation in this area between 1.6750(70) and 1.6900. In the attached daily chart, the red line right near 1.69 tells the story about this prediction: only a strong breakout straight to 1.7040 (or more) will give me the opportunity to see price near my target next week. More likely, market will be revisiting again 1.6750 and eventually bounce back to 1.6850-80.

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Price was near 1.6750 on contest expiry time, about 235pips far from my target, proving me wrong. Happy anyway price touched my level.

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GBP/CHF shows potential to the upside

In recent weeks on this instrument, price was stuck between two important levels 1.40 and 1.50 with some quick spikes during last months of 2013, as seen in this weekly chart:
Why the reason for these two levels to be so important, can be easily explained by considering a larger period of time.
  1. Clear supply pushed price lower, consolidating old downtrend to reach lower supports.
  2. Price did a quick breach on downtrend, after the important bounce on 1.40.
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scramble 13 May

The picture shows the increasing probability to see quite soon market testing 1.51 resistance where I still expect a failure and a strong continuation upward. At the moment price is almost exactly where I expected it to be! Three weeks left, still possible to meet my target price, where lies an high magnitude area (....).

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scramble 18 May

Price was a long time testing the 1,50 level without a clear breakout but in the same time there could be a good consolidation in daily chart to allow at least 1 attempt in 1.51 resistance. In the attached daily chart we see where is the more probable price area for next 2 weeks: still a 1.51 breakout could be a good bullish sign for market, but this could happen even on last days before month close.

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scramble 24 May

And the 1.51 resistance finally came and stopped for a while the progression to the upside. Considering the time market required to manage with the 1.50, my prediction reveals as a bit ambitious aiming for the 1.53 area. But let's see, still a breakout is highly probable and it will cause a quick acceleration upward.

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scramble 24 May

On the lower side, 1.50 will now be tested for a consolidation: a failure will send market back in lower 1.49 or even higher 1.48.

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Confirmed as ambitious target! Next time will be better :)

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EUR/GBP- Bearish Continuation

Charts: 4Hours, 1 Day.
Indicators: Fibonacci Retracements,Fibonacci Fan Lines,Support & Resistance Levels , MACD .
Current Level : 0.8443

EUR/GBP -is in a channel down formation from 2009 followed by regular retracements.The pair encounter a major resistance at Fibonacci fan lines 1 W (0.8819) level from where it continued the bearish channel. The price action currently moves within 50.00% & 38.20 fibonacci fan lines levels but the general trend is bearish and will continue this way. I keep my
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agddivisas avatar

Very good!

Metal_Mind avatar

UPDATE 1 : The current price level is 0.8243 and the deviation is 143 pips above the target. THis prediction might be proven pretty close.

Metal_Mind avatar

UPDATE 2; The trend made a short retracement. Current price level after Friday closing was 0.8200 which is a 82 pips deviation above my target. The deviation narrowed and we are closer . Preospects are good and the quality of this prediction is quite nice.The trend seems to be heading down and that is all i need . This prediction even if it's far today can be very close tommorow.

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UPDATE 3 : Current price level is 0.8264 which is an 160 pips deviation from target. It is pretty far but in this market every minute makes the difference.

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USD/JPY- BREAKOUT CONTINUATION !


Charts: 4 Hours, 1 Week.
Indicators:Fibonacci Fan Lines,Fibonacci Retracements,Support & Resistance Levels,Time Markers,MACD, EMA 200,100,50.
Current Level : 101.29

USD/JPY is very likely to continue its rise as the slowing recovery in Japan undermines the Bank of Japan pledge to achieve the 2% target inflation for 2015,and this deviation in the policy outlook may inflate the exchange bringing the pair to new highs as the FED recent news said it looks to taper its asset-purchase program in th
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UPDATE 1; The prediction was great but the FED decision to taper sooner overboosted the USD and now the current price level 104.76 which is 210 pips above target. Nonetheless the prediction is very good .

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