Monthly: Price action in February posted a bearish Outside Month, often an indication that the rally is over and the start of a new downward bias. The Marabuzo level from February (mid-point form open and close) is located at 150.84. We closed underneath that level in April Weekly:  The weekly chart highlights mixed trading for the last 7...

2018-05-24 Ian Coleman Read more

Monthly: Posted a bearish Outside Month in March. This pattern often highlights the top of a trend and the start of a new downward bias. The Marabuzo level (mid-point from open and close) is located at 132.76. Price action in April has seen sellers emerge above this level. Previous support level of 128.95 has been broken Weekly: A 261.8% ...

2018-05-24 Ian Coleman Read more

Technical Monthly: Potential reverse head & shoulders as prices trade within the monthly ichimoku cloud. A clear break of $1370 is required to confirm the formation. $1300 key support has been breached although losses have been limited. Weekly:  A possible medium term AB=CD formation has a measured move target of $1450. Trend suppo...

2018-05-23 Steve O'Hare Read more

Monthly: Holding within an Expanding Wedge formation than has a bias to eventual break to the upside. The Ichimoku Cloud stalled rallies on three occasions in 2017. Strong selling pressure in February has left a Marabuzo level at 85.36 (half the nett losses from 87.94 to 82.78) Weekly:  Holding within a bearish channel formation. We have ...

2018-05-22 Ian Coleman 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. Swing low (previous support) is located at 1.1447 Weekly:  Mixed trading for the last 41 weeks has resulted in an Expanding Wedge formation being posted...

2018-05-21 Ian Coleman Read more

Monthly: Three consecutive positive monthly bars. Broken out of the wedge formation (yellow) to the upside. Reverse trend line support is located at 0.9895. The trend of higher highs (from 2012 and 2015) is currently located at 1.0600. With bespoke resistance located at 1.0680, this is our long-term target zone. Weekly:  Broken out of the...

2018-05-18 Ian Coleman Read more

Monthly: Posted a bearish Outside Month in March. This pattern often highlights the top of a trend and the start of a new downward bias. The Marabuzo level (mid-point from open and close) is located at 132.76. Price action in April has seen sellers emerge above this level. Weekly: A 261.8% extension level from the current trend (137.55-12...

2018-05-24 Ian Coleman Read more

Monthly: Trading within a bearish channel formation. Trend line resistance is seen at 1.2583. Levels close to the 38.2% pullback level of 1.2522 (from 1.6038-1.0349) attract sellers. We trade to the lowest level in 5 months Weekly: After posting a bearish Outside Week (week 16th April) the major currency pair has broken the Ending Wedge f...

2018-05-16 Ian Coleman Read more

Technical Monthly: Price action continues to push for higher levels within a bullish channel. A morning star formation backs the bullish theme and we expect the upside to accelerate on a break of all-time highs. Weekly:  7 consecutive bullish candles on the weekly chart as focus remains on higher levels. Pull-backs are expected to find...

2018-05-15 Steve O'Hare Read more

Monthly: A bearish Elliott Wave pattern (5-waves) was compete at the 2011 low of 1.1462. Price action is holding within a triangle formation. Ichimoku Cloud resistance is seen at 1.4092 Weekly:  For the last 92 weeks we have held within a bullish channel formation. The trend line resistance is currently located at 1.3945. Bespoke resistan...

2018-05-22 Ian Coleman Read more