Topic: M's Thoughs and Analyses

Today EUR/USD reached the support at 1.1172 and rebounded from it. Considering the candlestick formations on the H1 M30 time frames I think there will be a new move to the upside towards 1.1200 - 1.1220.

Re: M's Thoughs and Analyses

https://i.imgur.com/R05qNJy.png

The pair is striving to reached the resistance around 1.1550 - 1.1600 and for now remains quite bullish.

Re: M's Thoughs and Analyses

https://i.imgur.com/Q5uD65e.png

USD/CAD reached a strong support zone around 1.30. Here we can expected a deeper and longer-lasting correction to the upside. If it breaks out below the support its next target will be around 1.2600 - 1.2550.

Re: M's Thoughs and Analyses

http://i.imgur.com/mFCoptr.png

The pair is seeking to reach the trend line. The question is whether it will break out above it or rebound from it. I think we should wait and see before opening any new positions.

5 (edited by moreenlawson71 2017-07-01 12:29:28)

Re: M's Thoughs and Analyses

https://i.imgur.com/6ie38l1.png

I expect that Gold will fall in the medium term. If it breaks out below $1200 next target could be around $1100 - $1000.

Re: M's Thoughs and Analyses

https://i.imgur.com/5SD1eVe.png

I expected that around 112.90 the pair would form  correction to the downside to gather liquidity, but there is a new high now, higher than the local one from 29th June 2017. The next strong resistance is around 114.00 - 114.30.

Re: M's Thoughs and Analyses

https://i.imgur.com/6NUg7kW.png

On its way down Gold could encounter two strong support levels: the zone around 1218 - 1210 and the zone of the yellow trend line, which is at 1190. If Gold breaks out below them it could fall to 1130. In the alternate scenario it will rally to 1480 - 1500.

8 (edited by moreenlawson71 2017-07-05 13:04:36)

Re: M's Thoughs and Analyses

https://i.imgur.com/dYokWOg.png

The RSI divergence on the monthly time frame was a signal for a move to the upside to 1.57 that level has already been reached. It is also obvious that the pair is at a strong support zone around 1.3650. The target of the current rally is .5690 - 1.5700. We should also pay attention to the direction in which there will be a breakout of the horizontal range marked by the two gray horizontal lines.

9 (edited by moreenlawson71 2017-07-06 12:56:33)

Re: M's Thoughs and Analyses

https://i.imgur.com/hb0i1ZS.png
https://i.imgur.com/7P7PAe4.png

On the weekly time frame GBP/USD is forming a correction, but if we look at the daily one we will notice that the correction is almost completed. The target of the pair remains the resistance trend line once the move to the upside continues.

Re: M's Thoughs and Analyses

https://i.imgur.com/iuRY1Ei.png

The USD/JPY bullish trend appears quite strong. Still, once the pair reaches the potential resistance trend line the pair should form a deeper correction before it breaks out above the trend line and rallies above 122.00.

Re: M's Thoughs and Analyses

https://i.imgur.com/c5bkDnH.png

There is a double top on the EUR/USD D1 time-frame, as welll as a RSI divergence between two highs. There is also a hanging man candlestick on the W1 time-rame and on the monthly time-frame the pair has reached a serious resistance level. I think we can expect a deep correction.

12 (edited by moreenlawson71 2017-07-10 12:46:23)

Re: M's Thoughs and Analyses

https://i.imgur.com/7dOLYHn.png


It looks like a new trend channel is beginning to develop on the EUR/AUD charts. Once it has finished development and after a breakout we could ascertain the direction the pair will move in with more certainty. For now there will likely be a new move to the support trend line.

Re: M's Thoughs and Analyses

https://i.imgur.com/yXd7hJ7.png

On the USD/CAD daily time frame there is a RSI divergence between three lows. If the pair reaches its limit it should rally to 1.3043. Not to mention that there is also an inverted hammer bar on the same time frame, which is situated at the bottom of the drop, which means a new move to the upside.

Re: M's Thoughs and Analyses

https://i.imgur.com/kXcug9S.png
https://i.imgur.com/jeMQU3E.png

EUR/USD continues crawling to the upside and it could potentially reach 1.1550, even 1.1600. Despite that one can see the beginnings of a RSI divergence on the daily time frame, which could be a signal for a new corrective movement to the downside. We should pay attention whether that divergence will deepen and whether any bars signalling such a movement will appear on the larger time frames.

Re: M's Thoughs and Analyses

https://i.imgur.com/wJ5zqu8.png

The bad thing about using large time frames to trade is the long wait for results, but the profits tend to be worth it. The limit of the USD/CAD flag seen on the weekly time frame is at 1.2400. Whether it will keep dropping below that level remains to be seen.

Re: M's Thoughs and Analyses

https://i.imgur.com/3mfXZEm.png

I think that USD/CAD will rally correctively to 1.2800, but that the move to the downside is not over yet. Obviously, the pair has to break out below 1.1.2680 first.

Re: M's Thoughs and Analyses

https://i.imgur.com/G4cwy83.png

There are 100 pips left until USD/JPY reaches the strong support at 111.50. I think that we could expect a renewal of the rally from that level. In the alternate scenario it will drop to 108.50.

Re: M's Thoughs and Analyses

https://i.imgur.com/2ddXESJ.png

In the medium term the pair is moving to the downside towards the support at 1.58. I think a breakout below that level will lead to a further drop toward 1.50.

Re: M's Thoughs and Analyses

https://i.imgur.com/Fv2gX3g.png

After five months of rally today EUR/USD climbed with another 70 pips during the Tokyo session today and approached the strong resistance zone around 1.16 - 1.17. I think we can expect a trend reversal at least because it needs to form a deeper correction and we should be on the lookout for signals for that reversal.

Re: M's Thoughs and Analyses

https://i.imgur.com/EzlCER1.png

USD/JPY reached a strong support zone which is the middle line of the Bollinger Bands indicator on the weekly time frame. The possible scenarios from now on are two - a renewal of the rally to 119.00 or a drop toward the resistance trend line it broke out above (in red).

Re: M's Thoughs and Analyses

https://i.imgur.com/9xkioKt.png

EUR/USD almost reached 1.1700 today, the question is whether it will continue rallying towards that target. If the daily candlestick closes a shooting star - as it is now - we could expect a possible pullback.

Re: M's Thoughs and Analyses

https://i.imgur.com/30f8DVL.png

On the charts of the different brokers the bar from 15th January 2015 has a different height, but either way USD/CHF is forming a long-term pennant. The question is whether the Swiss Bank will allow the CHF to reach its limit to the downside or they would interfere if the currency breaks out below the pennant.