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Time for a downside correction

marius24 Posted 31 July as Analysis on GBP/AUD, Target: 2.0823, Date: 1st of September, 12:00 GMT  in #Technical analysis #GBP/AUD #Consolidation #Overbought Status #Cup Shape Pattern
Currency Pair:Gbp/Aud
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 2.1298
Trend: strong uptrend
Possible trading range:2.05-2.16
Signals: This pair has reached an overbought status and so far the cup shape pattern has run its course once 2.15 level was hit this week.
Forecast: Given the overbought status it's quite likely to see some downside corrections in the month ahead. Anyway the trend remains bullish, but a consolidation is the most likely scenario.
My tar…
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marius24 10 Aug.

update:This currency pair has suffered a serious correction after the price fell more than 650 pips since i put the prediction. The bearish move has been backed by a double top appeared on the 4 hour chart and even more an  H&S has now chances to emerge , but it needs the right shoulder to be completed.

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marius24 19 Aug.

update: The last 10 days meant more consolidation for this pair between 2.15 and 2.09. From this point i don't rule out additional upside moves, but the most likely scenario remains favorable for range bound trading. Current price: 2.13

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A slow rise in the sight in USD/CAD

marius24 Posted 31 Oct. as Analysis on USD/CAD, Target: 1.1312, Date: 1st of December, 12:00 GMT  in #Technical analysis #USD/CAD #Oil Price #Cup Shape Pattern
Currency Pair:Usd/Cad
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.1319
Trend: uptrend
Possible trading range: 1.10-1.15
Signals: on the weekly chart we have a bullish signal coming from a technical pattern called 'cup' which has been broken to the upside at around 1.1272
Fundamentals: further fall or a consolidation in the price of the oil will weigh negatively on the canadian dollar. Even more we had today a worse than expected GDP reading in Canada
Forecast…
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marius24 9 Nov.

update: Having hit a new multi-year high at around 1.1465 usd/cad has headed with full force at lower levels being backed also by a clear double top pattern with its neckline broken around 1.1369. So far the 1.13 is the lowest level recorded in the last 8 days, but certainly more downside moves are on the way.

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marius24 20 Nov.

update: this pair has stopped the speed and so far has found some support ground above 1.1265 which is an important neckline of a massive double bottom situated on the weekly chart.  Since i put the last update the Usd/Cad has been traded in a quite tight range of 150 pips between 1.14 and 1.1250. From here nothing special is expected , but a consolidation with a slight bearish tone has more chances

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marius24 26 Nov.

update:a bearish signal comes from a double top with its neckline already broken to the downside at around 1.1263. In case the price goes lower and hits 1.1120 then another bearish pattern called H&S will have some chance to be completed due to the presence of an uptrend support line which dates since July 2014. My target lies at 1.1312. Hope that the price won't fall anymore

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