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The attraction to magic numbers

Prediction for EUR/USD
On the Daily chart we can see that the RSI is rising since the end of November. There were several spikes down and the price have set a new low. Currently the EMA is under the current level which strengthens the bullishness of the pair. The standard instrument for pattern recognition does not find double, triple bottom. But by looking the spikes we can say that it looks like several bottoms test fail.
On the longer term Weekly chart we can see that the price has been rangi…
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EUR/USD Loses Upside Momentum

Daily analysis
1.13 worked as support back in October and is the high line at the moment. It is followed by the swing low of 1.1220 in September which is minor resistance now.
1.1140 cushioned the pair in October. 1.1050 is the high seen in December and the next challenge on the upside.
1.10 is a round number and significant resistance. 1.0925, which was a support line in December, is the next support line. It is closely followed by 1.0880 which is weak resistance in the range.
Weekly analysi
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The unstoppable stock market machine: A bubble or a lack

The unstoppable stock market machine: A bubble or a lack of technicals?

I was thinking to myself over the weekend about the situation in stocks. A huge part of trading is technical analysis and it’s general ability to become a self fulfilling prophecy. If everyone is trading off the same levels then it adds depth and definition to the market.
Take stock markets at all time highs, what if there is no tech?
How do all the tech heads trade against a trend or find levels to enter into the market, e…
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mag 28 Oct

I have a Twett saved to Favorites, it reads: The forces that move the world do not use technical analysis, but technicians can recognize the ways of these forces.

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