USDCAD - Dip buying inside the bullish wedge

Monthly: We had an impulsive rally from the 2011 low (0.9407) to the 2016 high (of 1.4690). The correction lower found buyers close to the 50% pullback level of 1.2049. Mixed trading for the last 27 months looks to have formed a bullish descending wedge formation. Weekly:  The weekly chart highlights the wedge more clearly. The sequence f...

2018-05-01 Ian Coleman Read more
EURUSD Breaks the Ending Wedge formation

Monthly: Trading within a bearish channel formation. Trend line resistance is seen at 1.2638. Levels close to the 38.2% pullback level of 1.2522 (from 1.6038-1.0349) continue to attract sellers. Weekly:  Mixed trading for the last 12 weeks. This week’s price action has seen the pair break the Ending Wedge formation to the downside.  Bespo...

2018-05-02 Ian Coleman Read more
USDJPY - H4 Trade Set up 30/08/2016

USDJPY (102.13):  Overall, the long-term trend remains to the upside after USDJPY broke out from the descending wedge pattern. Last Friday after Janet Yellen's speech at Jackson Hole. Resistance is seen at 102.50 - 103.00, which was briefly tested around August 1 and later around August 8. Further upside towards 104.00 is expected if the price i...

2016-08-30 John Benjamin Read more