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Inverted H&S in AUD/SGD

AdamFx42 Publié 25 aou comme Analyse sur AUD/SGD, Cible: 1.1540, Date: 1 de octobre, 12:00 GMT  dans #Technical analysis #AUD/SGD #Daily Channel #Weekly Inverted Head And Shoulders
I detect the possible forming of a weekly Head and Shoulders pattern in Aud/Sgd,
as we can see here on the weekly chart:
Aud/Sgd weekly chart
On the daily chart we see that price action has just broken out of a daily bearish channel
and for the second shoulder on the weekly chart to form
the price will have to fall back inside the channel:
Aud/Sgd daily chart
If the price remains outside the channel down there is still the chance
that the fibonacci expansion area of last move down leads the pair…
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3 Commentaires
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AdamFx42 3 sep

Not much change in the price yet - it has moved slightly higher,
need reversal, but pattern will not be easily cancelled on weekly chart,
not until 1.18, so there is plenty of time

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AdamFx42 11 sep

Price is exactly on my prediction now  :-)  1.1540
it looks to be turning down to form the second shoulder
Price has fell back inside daily channel as I predicted might happen to complete weekly pattern

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AdamFx42 16 sep

Price lower now - need Aud to stregnthen a bit

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EUR/GBP breaking above 0.8 again

AdamFx42 Publié 18 aou comme Analyse sur EUR/GBP, Cible: 0.8081, Date: 1 de octobre, 12:00 GMT  dans #Technical analysis #EUR/GBP #Fibonacci Retracement #Daily Channel #Weekly Trend #Inverted H S
Eur/Gbp seems to be ready to break above 0.8 again,
technically this is supported by signs on the weekly and on the daily chart
On the weekly chart we find that the 88.2% fibonacci retracement has acted as support
and the pair seems to have put in a low there,
this also provides us with a weekly trendline
Eur/Gbp weekly chart
On the daily chart we find a supportline/trendline as well as a daily bullish channel
in which the pair is currently situated,
we also can see an inverted Head and Shoulder…
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3 Commentaires
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AdamFx42 3 sep

pattern has almost been cancelled but price is back at the neckline of the daily head and shoulders again
and the low of the top is not taken out, so pattern is still valid, as is target -
pair already knocking on the 0.8 door

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AdamFx42 8 sep

Pair has now broken above 0.8, and should become support now

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AdamFx42 11 sep

Fallen below 0.8 again due to Gbp strength - this can change again if Gbp weakens
because of Scottish referendum

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EUR/AUD on its way down to support area

AdamFx42 Publié 17 aou comme Analyse sur EUR/AUD, Cible: 1.4280, Date: 1 de octobre, 12:00 GMT  dans #Technical analysis #EUR/AUD #Weekly Trendline #Fibonacci Expansion #Daily Channel
Eur/Aud is supported by a weekly trendline for now,
but on the daily chart lies room for a further move down from current position
The weekly trendline comes in around 142.5 at the moment
and fibonacci expansion points to a long-term target area of 158 on the weekly chart:
Eur/Aud weekly chart
On the daily chart we find that although the pair has broken upward out of a bearish daily channel,
the fibonacci expansion of 61.8% of the last downward move points to an area around weekly support line;
…
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3 Commentaires
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AdamFx42 29 aou

Daily fib support at 61.8% failed to hold, but 100% is holding price above 1.41

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AdamFx42 11 sep

Big dip down to 1.38 - did not see that coming
price is moving back up to target area now, though

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AdamFx42 16 sep

price has moved back to my target area

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