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NZDChf weekly upward channel

NzdChf is in a weekly uptrend and bullish at the moment
The weekly chart shows us the uptrend in NzdChf:
The fibonacci expansion of the move up within the channel is clear,
61.8% fibonacci expansion has been broken but price has returned back from the trendline
This retracement should lead to another move up
On the daily chart we might find our target area:
A rising trendline on the daily chart (green line) seems to be supporting the price
This leads it back to the 61.8% fibonacci expansion leve…
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AdamFx42 15 Ago

Still holding trendline support - expect a move up soon

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AdamFx42 21 Ago

Price has broken below daily trendline now - let's see if it can correct back above again

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AdamFx42 26 Ago

Move back up above trendline support - almost on target again

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AdamFx42 31 Ago

Price of the pair holding nicely above 0.71 now - just 20 pips below my target, support and resistance levels were correct in my prediction and I am hoping to hit my target tomorrow

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Missed by only 4 pips - nice

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NZDCad below resistance and looking to break it

NzdCad has been stuck below resistance for a while now
On the weekly chart we see the highs in the pair that define the resistance line:
The rising trendline below is pushing the pair up towards the highs again
This is a rising wedge pattern- and is designed for a upward breakout to follow
It is therefore only a question of time before the highs are negociated
On the daily chart we see more evidence of bullish movement:
The rising daily trendline is much steeper and shows strong bullish moves
A …
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Pair has moved down to trendline support - should see a move up start here again

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Pair is up above 0.94 today - so trendline is holding - on its way towards resistance level around 0.95

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AdamFx42 15 Ago

Pair is testing trendline - if it holds we will see a move up

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AdamFx42 21 Ago

Price has broken below trendline but seems to be correcting up to retest that break
It was a steep rising trendline so a correction beow is not a problem to return to bullish

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AdamFx42 31 Ago

Price around 0.95 now - need a bit more strength to reach target at 0.9544

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AUDUsd pushing to break long term downtrend

AudUsd is looking to challenge long term downtrend
Looking at the weekly chart I see a long term downtrend:
Indicators (DiNapoli) and SMA's are pointing to bullish action, though
And a shorter term trendline seems to be leading the pair up to longer term downtrend upper border
On the daily chart it becomes more clear:
Here too, indicators are mostly bullish, and we can see price action playing out
I believe that longer term trendline will be tested and should hold at first
The daily trendline sh…
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Pair is looking bullish now, after pushing above 0.76 (after RBA rate cut!) and staying above that level even after strong US data today - my target seems near now

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AdamFx42 15 Ago

pair is slightly above target now - looking good

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AdamFx42 15 Ago

Upper trendline has held the move up - as I predicted - probably a retest to come though, pair should be led slightly lower, as it is declining trendline, this means that 0.77 should be resistence now

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AdamFx42 21 Ago

Price is holding just below target and above 0.76 support - I am happy

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AdamFx42 26 Ago

Right on target now - nice

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AUDJpy moving down in extended bearish weekly channel

AudJpy is in a weekly bearish channel and moving towards lower trendline
On the weekly chart we can see the bearish channel:
Price is moving down now, and shows a strong bearish weekly candle
I expect a lower price in AudJpy next month
On the daily chart we can figure out when the downside might hold:
A double top has formed on the daily chart indicating a high is in place
Price of the pair has broken below the rising trendline, and below SMA's
MACD and Stoch are both bearish - I expect a sharp …
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Pair is slowly moving down towards projected target - 61.8% fibonacci expansion level

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Strong US data and subsequent higher UsdJpy have sent AudJpy back up too 77.5 area, will have to see whether Usd weakness (or Jpy strength) returns

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AdamFx42 15 Ago

No change yet

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AdamFx42 21 Ago

Price moving down slowly now - need more UsdJpy weakness to reach target, I guess

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AUDChf retracing down within a weekly bullish channel

AudChf is retracing downward within a weekly bullish channel
AudChf seems to be rising within a weekly bullish channel:
MACD and Stoch indicators point to bullish action, and price of the pair holds above moving averages
(I use DiNapoli 3x3, and 25x5 SMA's)
If we take a look at the daily chart:
We see clearly that previous highs were not taken out - indicating a pullback or retracement
I expect the pair- because it is bullish - to retrace to natural 61.8% fibonacci retracement
before a move up a…
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Pair is moving exactly as predicted - 61.8% fibonacci retracement held the move down around 0.7250, and now AudChf is back above 0.7350 already - will see more upside probably

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Price is up to 0.7450 now - this is where I expect to see some retracement back down

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AdamFx42 21 Ago

Retracement back down indeed, and price holding just below target now - need 0.73 to act as support now

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AdamFx42 29 Ago

Bit above target now - 0.73 is obvious support, pair near 0.74now, see if it acts as resistance

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AdamFx42 31 Ago

Price just below 0.74 - about 50 pips above target

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Possible head and shoulders forming on weekly chart Light.cmd

A possible forming of a head and shoulders pattern in Crude oil
On the weekly chart we can see clearly the forming of the H&S pattern:
Although crude oil has been climbing sharply the last few months, a retracement is now underway
If we look at the daily chart we see some possible support for the head and shoulders pattern:
Price of crude oil has broken below 61.8% fibonacci retracement of last move up
To form the second shoulder price will probably go down a bit more
I expect 76.4, or 88.2% ret…
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Price went down below 39 to form the possible second shoulder - could go back up again or maybe take the second shoulder slightly deeper - pattern is now visible

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Second shoulder is in place now - with price up to 42 area - pattern is complete, and only a break below second shoulder low around 38 will invalidate this pattern

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USDChf moving back up above trendline

UsdChf should recover from its lows soon - lower trendline support looms
On the weekly chart we see a couple of levels that are important:
On the topside we see 1.03 as a resistance level
While on the downside we can see a rising trendline - the pair looks to test it
Price is moving down towards this level
On the daily chart we may investigate suspected moves:
Trendline support seems to be located above 0.96 area
If we take fibonacci expansion from the last move up and project it to this level
w…
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Pair is back up around 0.98 - exactly on target - so price action as predicted, trendline is holding

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AdamFx42 15 Ago

Trendline is at  0.96+ support - pair has retreated a bit from highs and is above 0.97 now  I expect rising trendline support to lead the pair higher again

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AdamFx42 21 Ago

support at 0.96 in doubt now

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AdamFx42 29 Ago

Support at 0.96 holds and pair moves up sharply because of recent UsdJpy strength above 100,
UsdChf now just around target area 0.98

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AdamFx42 31 Ago

More UsdJpy strength has helped this pair above 0.98 now - about 30 pips above target - some weakness at the end of the day may bring it down a bit

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GBPUsd seems to be recovering after Brexit

Lows for GbpUsd seem to be in place at around 1.28
On the daily chart we see the huge drop after the Brexit vote
The lows were hit around 1.28, and now the pair seems to be moving back up again
MACD and Stoch (both DiNapoli based) show the pair is bullish,
and price action has broken above DiNapoli 3x3, and is looking to test DiNapoli 25x5 from below
If we zoom in on the action on the 4Hr chart we can also see a pattern:
A closing wedge pattern is forming and a breakout in GbpUsd should follow
I…
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GbpUsd already moving up much higher to 1.33 area from below 1.31  - recovery is on

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After the BOE decision GbpUsd has fallen sharply again and was pushed down further by strong US data today - 1.3 has held as support for now

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USDJpy testing 2014-2015 support levels

UsdJpy is back down at mid 2014 levels
Looking at the weekly chart we find UsdJpy back at 2014-2015 lows:
The pair is testing previous weekly lows, although we now already can identify an upward trendline
Technically, this is an important level for the bulls - will the pair move back up again?
I believe the test of this important level will take a while, but 100 should hold
If we look at the daily chart we might see how it will play out:
The trendline on the daily chart will most likely be broke…
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UsdJpy has broken below daily trendline as predicted and bounced off 100.60 level after some strong US data today - price action is as I set out in my prediction

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AdamFx42 15 Ago

After a initial move up to my target area at 103, pair has now retraced back to 101 level. This is normal retracement and UsdJpy is following the moves that I predicted on my chart - I expect 101 to act as support now and pair should test 103 again soon

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AdamFx42 21 Ago

Support around 100 being tested - pair looking weak though

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AdamFx42 29 Ago

It has been a long battle but 100 holds, pair back up above 102 now, moving towards target 103

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AdamFx42 31 Ago

Very happy with my prediction - price has crept up to my target on the last day - I just hope it can hold here

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EURUsd to retreat once more

Based on the charts I see EurUsd retreating down once more before a rise
If we look at the weekly chart we see that the pair is still to retrace back up from its weekly move down from 1.40
Pair has not touched - even - 38.2% retracement yet at 1.18 area, and should eventually reach 50, or 61.8% (at least)
This is normal retracement for EurUsd - at least 50% before any intended move lower
And if the low is in place - then 1.40 will be taken out eventually..
On the weekly chart we also see a upwar…
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After a move up yesterday - Eur is on the way down now towards 1.11

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pair put in a low just above 1.10 today after strong US data - now trading back up at 1.11 again,
further weakness is to be expected, though

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