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 7 months. Reverse trend line su...
Technical Monthly: Looks to be forming a bearish Ending Wedge pattern. A break of trend line support at 12048 and the measured move target is 8695. Rallies have stalled and found sellers near 13200, resulting in a new trend line resistance. Shooting star candles highlight rejections of attempted rallies. Weekly: Looks to be forming a ...
Monthly: The most important factor in this timeframe is indecision. This can be highlighted by nearly four months of Inside Soldiers or Harami candles (if we close around current levels at the end of June) Weekly: Posted a Bearish Outside Week (week 29th January). This is often an indication that a top is in place. The indecision highlig...
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. Marabuzo resistance (mid-point from the open and close) is located at 1.1745 Daily: We look for a bea...
Monthly: The long-term outlook is for higher levels with the pair posting a potential bullish reverse Head and Shoulders formation. A break of 126.70 (neckline) is needed to confirm the formation. There is scope for a deeper correction, in an AB=CD formation, toward 92.00. This timeframe offers a mixed picture. Weekly: Holds within a cor...
Foreign exchange trading volumes rose to a record high in the first three months of 2018, representing a rise of 28% in March 2018, compared to a year ago, according to data released by CLS and published by Reuters. The increase in the FX trading volumes was the result of a rise in volatility from multi-year lows, which drove more traders to buy...
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. 2017/18 tre...
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. Marabuzo resistance (mid-point from the open and close) is located at 1.1745 Daily: We look for a bea...
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 (106 months of mixed trading). Ichimoku Cloud resistance is seen at 1.4092. Marabuzo resistance from last month’s price action is located at 1.3365 Weekly: For the last 96 weeks we have held within...
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 9 months. This area has acted as resistance in 2016 and 2017 (1.1714 and 1.1616) and now acts as support Weekly: After postin...
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