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The EUR/AUD is currently retesting 61.8% support near 1.837 in what could be point C of an emerging butterfly pattern which is projected to complete near previously established resistance near 1.8583.
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This week's rally of near 1,000 pips saw only a brief mid-week 38.2% correction (point C on 2hr chart below), which oftentimes signals a strongly trending market. In terms of geometric pattern recognition, this also suggests higher probability for an ABCD extension pattern to emerge.
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Will the GBP/USD continue to extend gains? Not if 1.436 has anything to say about it....
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An intraday selling opportunity with long-term profit potential...
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The reverberations from yesterday’s surprise announcement by the Fed continued in the currency market with EUR/USD remaining bid in early European trade but the 1.3500 handle remained serious resistance as the pair had trouble penetrating that level. Yesterday’s announcement by the FOMC that it will purchase up to $300 Billion in US Treasury securities, spurred a massive dollar sell off as few traders expected the Fed to initiate quantitative easing quite so soon and on such a large scale.
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Should the EUR/USD decide to rally, 1.28 may provide critical resistance ...
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Multiple sell patterns projected to complete at previously established major resistance near 1.3000...
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Today's roller coaster ride may have topped out as the EUR/JPY once again tests critical resistance near 1.2600...
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Trade of the week potential as EUR/JPY hits major resistance on extraordinary Fibonacci convergence...
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A break above 1.1750, and the USD/CHF intraday rally is expected to continue...
Tags:
pattern,
forecast,
geometric,
reversal,
rally,
gartley,
trend,
bearish,
butterfly,
resistance,
artificial intelligence
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94.00 may test current USD/JPY strength....
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A GBP/NZD rally to 2.7770-2.8000 could trigger a high probability sell opportunity...
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The AUD/USD and NZD/USD may have topped out in the face of previously established major resistance...
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Key resistance near 0.5160 offers high probability sell opportunity
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An AUD/CAD rally to converging Fibonacci resistance may lead to multiple Gartley sell pattern completion.
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Major resistance near 2.2730 may provide an ideal selling opportunity...
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A 300 pip nose dive has sent the USD/JPY right back down to major support just above 87.00 completing a solid double bottom formation.
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The USD/JPY is shaping up to be the trade of the Q1...
Tags:
resistance,
rally,
fibonacci,
risktoreward,
ratio,
pips,
major,
yen,
jpy,
usd/jpy,
swing,
long term,
gartley,
butterrfly,
pattern