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Consolidation with downside potential

Currency Pair:S&P500
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1903
Trend: downtrend
Possible trading range:1860-2020
Technicals:It's for the first time when i see three very bearish technical patterns complete: 1. H&S pattern whose breakout to downside at around 2030 triggered a very massive sell off in this index sending the price as low as 1850. 2. The so called death cross appeared after this index had lost more than 1500 points.3. Another massive head and s…
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marius24 avatar
marius24 9 10月

update: S&P 500 has managed somehow to gather itself and to offer us a quite strong recovery off a very low level at around 1860. Right now the trend remains tilted to the downside as long as the price hovers below the 200 SMA on the daily chart. Even more another super bearish pattern is still alive unless the bulls push the price over a very closely watched level (2024). I am still bearish

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NZD/USD Looking Beyond the Carry Trade

Since current price action of NZD/USD has been greatly influenced by the carry trade this time we're going to look on just the technicals. On the weekly chart (see Figure 1)we can see that starting from around last year NZD/USD has start developing an upward channel which we're currently testing the downward trend-line which will provide a good support at around the 0.8000 big psychological level. Also we can see that we may be developing a H&S pattern on the weekly chart which it may not work b…
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Daytrader21 avatar
Daytrader21 11 10月

Update 1: As expected 0.7700 is a strong support level which will produce a bounce towards the round number 0.8000 in coming weeks as on the daily chart this sell off looks oversold. For next week we have resistance at 0.7930 and support at 0.7750.

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Daytrader21 19 10月

Update 2: Over the last 2 weeks we have been moving in a wide range between 0.7700 support level and 0.8000 resistance level. This base that we have develop will provide the momentum for the next up leg. For next week we have support at 0.7840 and resistance at the big round number 0.8000. Only a break and a close above 0.8000 will means the bulls are back in control until than expect further consolidation.

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Daytrader21 25 10月

Update 3. Kiwi is completing a double zig-zag pattern in this range from 0.8800 resistance level to 0.7700 support level. But in order to complete wave Y we need another push up towards 0.8800 as the sell of from that level is only wave b of Y and we need another rally to complete wave c of Y

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Daytrader21 29 10月

Update 4: As expected we're now in wave c of Y and current rally comes in line perfectly with my last update.  Still this rally is not yet completed until we retest the big round number 0.8800. In order for this analysis to be correct the market should not go below the 0.7900 level.

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GBPAUD retest 0.84 level before go south?

Framework:
I. Fundamental: U.K's Fundamental data continues to support for GBP. Meanwhile Australia's fundamental data change from bullish to neutral after soft CPI data, next move of AUD depend on employment data.
II. Currency positioning: Net long position for both GBP and AUD.
III. Technical view:
1. Weekly chart: The pair GBPAUD go down when hit long-term downtrend line, reversal sign confirmed by a break neck line. The price go down and hit support at 1.774. There are two bullish candles fr…
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Haynes6EU avatar

The price fall down from 0.83 resistance level. Fundamental is supporting for AUD. Employment data is good :D

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Haynes6EU 12 5月

Next target: 1.76. After that price go up!!!!!!!!!!

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Haynes6EU 16 5月

1.783 level hold and price bounce from there. AUD is loosing up momentum

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Haynes6EU 21 5月

The pair bounce from 1.783 level. Now the pair can retest the neck line at 1.836~1.84 area

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Haynes6EU 31 5月

It seems that the pair is consolidation in wave 4 and prepare for wave 5. The pair can visit 1.76 before go up to 2.0. Maybe?

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EURAUD H&S pattern in playing, retest neck line

Framework:
I. Fundamental: Excess liquidity in the euro system fell and put upward pressure on EONIA at the end of every months, EZ CPI is at low level and the market is watching closely next data released. Meanwhile fundamental data is supporting for Aussie despite of soft CPI data.
II. Currency positioning: Net long for both EUR and AUD.
III. Technical view:
1. Weekly chart: There is a new potential H&S in weekly chart. The pair could retest the previous neck line and go down again???
2. Daily…
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Haynes6EU avatar

The pair continues to go up to retest neck line! Moving into resistance zone seems slowly

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Haynes6EU 12 5月

EUR fall down sharply after Mario Draghi speech, ECB can act in June! Price is stand at 1.47 level. I expect more downside at least to 1.45 :D

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Haynes6EU 16 5月

Support level 1.456 still hold. This is important level and also pivot point!

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Haynes6EU 21 5月

The pair bounce from 1.456 level. The next target could be 1.5. 1.5 become resistance level.

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Haynes6EU 31 5月

This pair is stand at long-term pivot line around 1.46. A break and close below could be signal for more downside even to 1.42 or bounce from this level could be signal to go up!

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