Community
Blog

Community Blog

Add post
Filtrato dai tags:  Descending Trendline
Avatar

Aussie pares last week's gains

al_dcdemo Posted 23 Nov  in #Trader's blog #AUD/USD #Pullback #200 Dma #100 Dma #H1 Chart #Descending Trendline
Aussie closed above 100 DMA on a weekly basis for the first time in six months. In addition, it broke and closed above a descending trendline drawn off of September 2014, May 2015 and October 2015 highs.
It appears that it is headed to retest October high near 0.7380. Potential target is seen between 0.74 and 0.75, which is currently hosting 200 DMA. The pair is pulling back in the early Monday trade but the decline shall stop somewhere in the 0.7100 - 0.7050 region, provided that the above hypo…
Read full story
Translate to Inglese Show original

Since you are not logged in, we don't know your spoken language, but assume it is Inglese
Please, sign in or choose another language to translate from the list.

– o –

Leave a comment
oper inserire commenti
Avatar

USD/CHF remains well supported

al_dcdemo Posted 27 Ago as Analysis on USD/CHF, Target: 0.9575, Date: 1 di Ottobre, 12:00 GMT  in #Technical analysis #Confluence #USD/CHF #Symmetrical Triangle #Snb Shocker #Turnaround #Turmoil #Neutral Technicals #Descending Trendline #Supportive Fundamentals
Monthly chart:
After breaking parity at the start of the year, the SNB shocker on January 15th sent the pair all the way down to 2011 lows. The actual low was 0.7263 or roughly just 70% of its value before the announcement. The turnaround was equally impressive and after barely two months the pair found itself testing middle of the pre-SNB range between parity and 1.03. It declined from there but managed to hold above both 20 and 50 month SMA. The latter is the line in sand: holding above is bul…
Read full story
Translate to Inglese Show original

Since you are not logged in, we don't know your spoken language, but assume it is Inglese
Please, sign in or choose another language to translate from the list.

– o –

10 Commenti
Vedi 5 più commenti
al_dcdemo avatar
al_dcdemo 12 Set

UPDATE 6: The long awaited September FOMC meeting will finally happen next week, on Thursday. I think the chances for the Fed to begin tightening are quite good. Despite recent worries regarding global markets, this may be best opportunity for the lift-off this year. If it happens and they remain hawkish, the pair will likely retest at least August high near 0.99 and perhaps parity. If not, 50 DMA is the first line of defense ahead of 200 DMA.

al_dcdemo avatar
al_dcdemo 29 Set

UPDATE 7: There are a couple of economic data points coming up from Switzerland later in the week (UBS Consumption Indicator, KOF Economic Barometer, Retail Sales, Manufacturing PMI) but hardly anything market moving. ISM Manufacturing PMI and jobs report from the US are the releases that the pair is waiting for. 50 DMA has been doing its job of supporting the pair ahead of 100 and 200 DMA. Strong resistance zone 0.9850 - 0.9900 remains intact.

al_dcdemo avatar
al_dcdemo 30 Set

UPDATE 2: Yesterday's range-bound trading with falling volatility extended into ultra tight consolidation in today's Asian session, which then broke to the upside just before Europe opened for business. The pair climbed some 40 pips from there but is pulling back as I type. 50 DMA is doing its job well and, unless the pair falls below it, near-term technical picture remains bullish.

WallStreet6 avatar
WallStreet6 30 Set

Great analysis and good accuracy!

al_dcdemo avatar
al_dcdemo 1 Ott

Thanks!

oper inserire commenti

Top bloggers

Blogger Posts / Likes

Top rated posts