- This topic has 11,679 replies, 48 voices, and was last updated 3 weeks, 5 days ago by .
-
EURUSD DAILY CHART – POWER OF 50
1.0852 breakout targets 1.0916 next as long as it stays above this level.
It is why I csaid earlier 1.0850 sets the bias.
Only below 1.0850 would postppne the threat
The high so far has been 1.0899, only GBPUSDD has so far extended its high..
Above 1.0916 would expose potential for 1.10
USDX DAILY CHART – KEY SUPPORT ON THE RADAR
USDX IN A DOWNTREND THAT STILL NEEDS A 103.93 BREAK TO FULLY CONFIRM
SO FAR, THE BREAK OF 104.27 HAS NOT FOLLOWED THROUGH, BELOW IT IS NEEDED FOR A SERIOUS RUN AT 103.93
NOTE, WITH EURUSD 57.6% OF THE INDEX, USDX WOULD NEED CONFIRMATION FROM A BREAK OF YESTERDAY’S 1.0899 HIGH (YET TO OCCUR)
GBPUSD 4 HOUR – MARCHING FOR 1.30?
GBPUSD so far extending its high by one pip tp the “50” level (1.2950)
Should 1.2950 become support, expect a run towards 1.30
Major technical target remains at 1.3141 following the break of 1.2893
Downside contained as long as it trades above 1,29
Note GBP strength on its crosses as well
USDJPY DAILY CHART – TRENDLINE BROKEN BUT…
Was it intervention or some hedge fund exiting short JPY carry trades when US yields fell after CPI?
All that matters is the market could not absorb the selling.
Key daily trendline was broken but without a close below it.
On the upside, the BoJ will not want to see it back above 160.25
In any case, the market will assune the high is in for now, but would need to get through 167.41 to put 155 in play.
Look for choppy trading but a limited upside while below 160.25.
EURUSD 30 MINUTE CHART – MY MOTTO
My motto: When logic says one thing and The Amazing Trader says the opposite, don’t ignore what THE AMAZING TRADER is saying
What’s it saying
In this case, falling blue lines are saying the intra-day risk had shifted to the downside. Those looking to buy the dip are trading the last episode when a new one had begun. Note I said intra-day as the dollar is still down on the day except vs the CAD,
Similar patterns are in other currencies as well after the CPI dollar dive ran out of steam.
GBPCHF 4H
Kind of a strange choice of instrument for me – Yes, it has never crossed my mind to play with this cross 😀
But one of our new members brought it up to my attention, so I added some of my own recipe to it and Voila…
Robinson saw it on time and together we are now bringing it up to your attention.
Supports at : 1.15350 , 1.15100 & 1.14950
Resistances at : 1.15550 , 1.15750 & 1.16200
We should start paying attention to it….
Thank you Robinson for this little gem 😀
- You must be logged in to reply to this topic.