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USD/TRY is tracing a descending triangle and probably will breakout. If the pair breach 1.383 resistant level, it will turn bullish.
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GBP/NZD looks to extends its fall
GBP/NZD is likely to fall 1.716 support level. The pair is tracing a descending triangle pattern which is a bullish pattern.
EURUSD TARGET ON 2 JAN 17
Technical Tools Used
Support and resistance (S/R), Price levels, Trend lines. Price action, candlesticks, shapes like ellipse and text boxes.
Weekly Chart
As it is very clear from the chart above that the pair is in a Descending triangle and the Euro region showing signs of weakness and I expect the trend line being kissed by the pair to be broken soon and the pair may even break the horizontal support shown in the chart . In this case the price action is showing signs that there will be a bre…
Support and resistance (S/R), Price levels, Trend lines. Price action, candlesticks, shapes like ellipse and text boxes.
Weekly Chart
As it is very clear from the chart above that the pair is in a Descending triangle and the Euro region showing signs of weakness and I expect the trend line being kissed by the pair to be broken soon and the pair may even break the horizontal support shown in the chart . In this case the price action is showing signs that there will be a bre…
EUR/JPY is bearish
EUR/JPY has been falling forming a descending triangle. It will likely test the 119.1 support level.
For Analysis, triangle and support and resistant levels are used.
For Analysis, triangle and support and resistant levels are used.
Upside in USD/CAD appears more likely
Monthly chart:
The pair is in uptrend since 2011. It broke 200 month SMA in January and traded above 50.0% retracement of the January 2002 to November 2007 decline. I'd say the retracement has been properly broken as the pair posted second monthly close above that level in March. February 2009 high (1.3064) now comes into focus, before 61.8% retracement at 1.3462. The broken 200 month SMA is acting as support.
Weekly chart:
After strong rally since June 2014 and 1000 pips of gains till the end …
The pair is in uptrend since 2011. It broke 200 month SMA in January and traded above 50.0% retracement of the January 2002 to November 2007 decline. I'd say the retracement has been properly broken as the pair posted second monthly close above that level in March. February 2009 high (1.3064) now comes into focus, before 61.8% retracement at 1.3462. The broken 200 month SMA is acting as support.
Weekly chart:
After strong rally since June 2014 and 1000 pips of gains till the end …
USD/CAD will retrace a bit
Monthly chart:
The pair is in uptrend since 2011. It broke 200 month SMA in January and traded above 50.0% retracement of the January 2002 to November 2007 decline. If it convincingly breaks the retracement then February 2009 high (1.3064) comes into focus, before 61.8% retracement at 1.3462. The broken 200 month SMA is now acting as support.
Weekly chart:
After strong rally since June 2014 and 1000 pips of gains till the end of 2014, the pair added further 1100 pips in January 2015 alone. Tech…
The pair is in uptrend since 2011. It broke 200 month SMA in January and traded above 50.0% retracement of the January 2002 to November 2007 decline. If it convincingly breaks the retracement then February 2009 high (1.3064) comes into focus, before 61.8% retracement at 1.3462. The broken 200 month SMA is now acting as support.
Weekly chart:
After strong rally since June 2014 and 1000 pips of gains till the end of 2014, the pair added further 1100 pips in January 2015 alone. Tech…
Silver First target Hit. Gold heading towards $900
Silver and gold have been on tears this week and it comes as no surprise here as the Fed finally has put an end to the almighty QE program. Silver has been hitting my first target of $16.66 projected by the October 2011-April 2013 rectangle pattern (see Figure 1). You can check out my last article about silver through my blog history.
It is no surprise that after Silver broke last month key support level of $18.20 it was just a matter of time for gold to follow suit…
Figure 1. Silver Weekly Chart
It is no surprise that after Silver broke last month key support level of $18.20 it was just a matter of time for gold to follow suit…
Metals Outlook. Silver Leading The Way Down
If last week was all about the FX move, this week the metals are going to be on the front page. With silver breaking key support level at $18.20 this marks the stage for further downside movements. Silver was developing and completed an descending triangle over the last 1.2 years. I've been speaking about this developments in the silver market more than 5 months ago, making the case for a break lower, you can find that post in my history blog post.
Sin…
Figure 1. Silver Weekly Chart
Sin…
Let's talk Silver
In my blog I've only been talking about gold and you can find some of my comments and if you what my view on gold you can read here: Gold - Next Move and here Gold Outlook.
First of all I just want to make it clear this is my long term view on silver and not trying to forecast the next $1-2 move. In this regard I'm going to bring to your attention 2 long term charts to back up my bullish view on silver. First chart represents spot NY silver weekly closing price from January 1975 through April 20…
First of all I just want to make it clear this is my long term view on silver and not trying to forecast the next $1-2 move. In this regard I'm going to bring to your attention 2 long term charts to back up my bullish view on silver. First chart represents spot NY silver weekly closing price from January 1975 through April 20…
EUR/CHF forms descending triangle
On the daily chart, EUR / CHF form a descending triangle pattern that emerged since January with a strong support at 1.2135. This give us a bearish bias signal. Now we combine daily chart with ichimoku indicator, as we see in chart we can draw a mid term support at 1.2200. The thick cloud in may give us signal that price is not easy to break down, and we have strong suppor at 1.2135. I predict that the price will move in range 1.2135 - 1.2258 with mid support at 1.2200. price may consolidate in …