Nikkei225_Equities_0802

Technical Weekly: Price action has once again failed to capture and hold ground above the 23000 level. A shooting star candle has been posted and further negative price action looks to confirm a rejection. The upward trending support line comes in around 21700. Bearish divergence can be noted on the chart. Daily: The bearish outside da...

2018-09-21 Steve O'Hare Read more

Technical Monthly: Trading within a bearish channel formation. Trend line resistance is seen at 1.2515. Levels close to the 38.2% pullback level of 1.2522 (from 1.6038-1.0349) found sellers. There has been little net change for the last three months although the break below 1.1500 realised a sharp recovery. Weekly: The morning star for...

2018-09-11 Steve O'Hare Read more
eurusd

With EUR institutional positioning having shifted back into net short territory, the latest eurozone data will have further strengthened the conviction of bears with both inflation and economic sentiment having drifted lower. Headline Inflation Falls Back Headline CPI inflation for the Eurozone fell back to 2% in August from 2.1% prior, unders...

2018-08-31 James Harte Read more

  Technical Monthly: Looks to be forming a bearish Ending Wedge pattern. A break of trend line support at 12280 and the measured move target is 8548. Rallies have stalled and found sellers near 12800 & 13200. Weekly:  Looks to be forming a bearish Head and Shoulders pattern. A break of 11601 (neckline) is needed to confirm the patt...

2018-09-05 Steve O'Hare Read more
forex commodities gold

Technical Gold – Morning star formation posted as Gold corrects higher Monthly: A sequence of 4 monthly lower lows and highs has been posted. This month’s candle, although not yet complete looks to forming a bullish hammer after the strong reaction from the $1160 low. A close above $1200 should confirm a reversal. Daily:  Price acti...

2018-08-28 Steve O'Hare Read more

Technical Dow Jones (US30) – Evening star formation warns of deeper correction Weekly:  Posted a Bearish Outside Week (week 29th January) and the market has failed to recover to here despite new all-time highs being posted in S&P’s. This is often an indication that a top is in place. The correction since start of June is forming an end...

2018-08-24 Steve O'Hare Read more

Technical USDJPY – Bullish Morning Star formation dominates 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. The correction lower has stalled and a morning doji star formation has been posted. ...

2018-09-07 Steve O'Hare Read more

Technical Monthly: For he last 84 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. We have seen spikes in both directions for the last three months, highlighting indecision at current levels. The psychological 1.0000 (Big Figure) cont...

2018-08-21 Steve O'Hare Read more

Technical GBPJPY - Rallies continue to attract sellers 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. Intra-month rallies continue to be sold and further downside is expected. Weekly:  The weekly chart highlights a corrective channel ...

2018-08-20 Steve O'Hare Read more
Crude Oil_WTI_0106

Crude Oil – Looking for an extended correction (WTI) US Oil Monthly: Trading close to the bottom of a bullish channel formation. Trend line support is located at 64.00 with previous swing low at 63.57. Bearish dark cloud candle posted. Reverse head & shoulders formation looks to have completed. Selling pressure from 75.24 has resulted ...

2018-08-16 Steve O'Hare Read more