Technical Copper – Broken out of a wedge pattern. Weekly: The selloff has posted a correction count on the weekly chart. The 50% Fibonacci retracement is located at 2.628 from 1.936 to 3.320. The bullish engulfing candle on the weekly chart the positive for sentiment. The corrective cycle lower looks to have stalled. Daily:  A break...

2018-09-20 Joe Neighbour Read more

Monthly: Holding within an Expanding Wedge formation than has a bias to eventual break to the upside. Bespoke resistance is seen at 85.47 Weekly:  Holding within a bearish channel formation. Levels close to the 61.8% pullback of 79.27 (from 72.45-90.30) have found buyers. Trend line resistance is located at 86.73. Daily: Breaking t...

2018-09-18 Ian Coleman Read more

Monthly: We have broken the large Expanding Wedge formation to the downside. The whole move higher from the 2016 low (0.6827) has been and volatile, common in corrective formations. However, nearly all this month’s initial losses are being bought into. A false breakout? Weekly: Broke the wedge formation to the downside. Levels close to th...

2018-09-17 Ian Coleman Read more

Technical Monthly: Prices look to be heading towards a new 83 month high. The sequence for trading is higher highs and lows. A move through bespoke resistance at 74.94 and we look for extended gains. The medium-term bias remains bullish. Weekly: A sequence of weekly higher highs and lows has been posted. Price action has posted a bulli...

2018-09-13 Joe Neighbour Read more

Monthly: EURCHF has staged a strong recovery since posting a low in January 2015. The rally has stalled, and a reversal posted from levels close to the 78.6% Fibonacci pullback of 1.2010. June and July posted indecisive Inside Bars with all trading in the lower half of the May candle range. The indecision was resolved with further downside press...

2018-09-15 Ian Coleman Read more

Monthly: Since posting large nett losses in September 2017 (-395 pips) the cross has moved sideways. We can note spikes for the last 10 months highlighting indecision. The RSI (Relative Strength Index) is close to 50 (mid-point) highlighting we are non-trending. A large wedge formation offers a long-term bearish bias. A break of support at 0.876...

2018-09-11 Ian Coleman Read more

Monthly: For the last 85 months USDCHF has held within a bullish channel formation. Level close to 1.0340 continue to cap buying.  A full AB=CD formation would the the pair to 1.1450. The psychological 1.0000 (Big Figure) continues to be pivotal and attract sellers. Trend line support is located at 0.9400 Weekly:  We have started a correc...

2018-09-06 Ian Coleman Read more

The simple moving average (SMA) is probably the most basic indicator that traders have, but as previously discussed, it has a lot of uses. Partially because of this, it's one of the most universal indicators, and as such becomes something of a self-fulfilling prophecy. [shortcode-variables slug="fxcottradenow"] The market moves on consensu...

2018-09-04 Daniel John Grady Read more

EURGBP – Dip to the bottom of the uptrend channel attracting buying interest Weekly: Broken out of the wedge formation to the upside. This has been positive for recent price action, with prices extending above the 0.8800 level. The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of ...

2018-09-07 Joe Neighbour Read more

Monthly: Moved higher from the 2016 low of 1.1905. Levels close to be bespoke resistance at 1.4390 found sellers. Aprils price action formed bearish Outside Bar, often an indication that the rally (correction) has come to an end. Follow through selling pressure has resulted in GBPUSD trading to the lowest level in 13 months.   Wee...

2018-09-11 Ian Coleman Read more