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タグ・フィルター:  Overbought Status
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Gains in EUR/GBP Likely Over

The EUR/GBP is approaching overbought levels. After the latest 400 pips rally on the daily chart below we peaked at 80 on the Stoch and we're now dropping down. The gains likely coming to an end here.
On our second chart below we're seeing that this currency pair has been range-bound for almost one year, since September of 2016. Notice the swings up and down, every rally is being sold into while every drip is being bought. Furthermore here too we're seeing the Stochastic Oscillator above 80, sig…
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18 JAN 2017 | NZDUSD SELL SETUP FORMING

Hello fellow community members,
Today we have pulled NZDUSD chart with the daily time frame. The pair looks like approaching the confluence of the well-established resistance lines. Here we may see sellers jumping in to push the pair back to the lows at .6840 levels.
NZDUSD DAILY CHART
As the stochastics is already overbought and RSI is also almost overbought, So the behavior of the pair near confluence will decide if We will enter the shorts or not.
Any comments about the setup are welcome.
Ha…
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AUD/USD Forecast

Fellow traders,
Here is my prediction for AUD/USD. At this right moment AUD/USD mark 0.7355.
In my opinion this pair will range about 50/70 pips today. 0.73000 is the goal for today.
As we can see on H4 chart below, from end of last month this pair increase more than 4000 points in a row from 0.69500! First leg until 0.7211 and second leg until 0.73600. In my opinion, second leg is the last breath before go further upside.
On Daily chart below, we can see clearly a strong resistance around 0.736…
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Time for a downside correction

Currency Pair:Gbp/Aud
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 2.1298
Trend: strong uptrend
Possible trading range:2.05-2.16
Signals: This pair has reached an overbought status and so far the cup shape pattern has run its course once 2.15 level was hit this week.
Forecast: Given the overbought status it's quite likely to see some downside corrections in the month ahead. Anyway the trend remains bullish, but a consolidation is the most likely scenario.
My tar
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marius24 2015年08月10日

update:This currency pair has suffered a serious correction after the price fell more than 650 pips since i put the prediction. The bearish move has been backed by a double top appeared on the 4 hour chart and even more an  H&S has now chances to emerge , but it needs the right shoulder to be completed.

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marius24 2015年08月19日

update: The last 10 days meant more consolidation for this pair between 2.15 and 2.09. From this point i don't rule out additional upside moves, but the most likely scenario remains favorable for range bound trading. Current price: 2.13

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Consolidation with bearish tilt

Currency Pair:Cad/Jpy
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 103.85
Trend: very strong uptrend
Possible trading range:101-105
Signals: The upward movement has begun to lose momentum mainly on the back of a falling canadian dollar. Due to the overbought status in Cad/Jpy some pullbacks are in the sight
Forecast: The BOJ stimulus is already priced in and a further fall in the oil's price will definitely hurt the canadian dollar. Based on the above analysis i ex…
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marius24 2014年12月10日

update: as many other japanese pairs the Cad/Jpy headed in the first phase to higher grounds at around 106.49 ,but a recent sell off in usd/jpy has dragged down once again the price in 103 area. It's seems that a head and shoulders pattern is right now underway on the daily chart. The current price is 104.09.

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marius24 2014年12月19日

update:i was right saying that a head and shoulders pattern was underway. THerefore the bears managed to break down that neckline situated at around 103.47 and sent the price towards 99 level. Since this episod the price recovered much of the lost ground and hovers at 102.95. From here i expect further consolidation between 104 and 101.

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marius24 2014年12月27日

update: SO far the bulls haven't managed to exceed a strong resistance situated at 103.47 and this fact could be a sign of weakness of the recovery attempt. From this point i expect some selling pressure until the price hit one more time a support situated much lower at 101.25. Anyway this pair has entered in a consolidation phase. CUrrent price:103.36

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Low volatility in the coming month

Currency Pair:Nzd/Jpy
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 92.72
Trend: very strong uptrend
Possible trading range: 90.50-94
Signals: Historically speaking and looking at Nzd/Jpy chart i noticed that after a boom period of the price the market has entered in a 200-300 pips consolidation which in average lasted 1-2 months. So given the overbought status after this massive spike it's highly probable to see no major moves in the coming month
Fundamentals:
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marius24 2014年12月09日

update:it;s quite hard to find a direction when the nzd is appreciating and the yen is appreciatiing. Nzd/jpy has touched this week 93.96 level and then the tumble has come quickly due to the sell off in usd/jpy. Today the price hit 91.35 and from this point further consolidation is ahead. Current price 91.86

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marius24 2014年12月18日

update:due to a bearish head and shoulders pattern broken to the downside at around 91.78 the price headed lower towards 89.92. From this point the bulls took the control once again and sent the rate higher into 91 area. I expect further upside moves in this pair in the following period

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marius24 2014年12月26日

update: i was right with my bullish outlook predicted on 18 Dec because the price continued to move higher towards 93.25. From this point the bulls need a strong support in order to push the rate even higher. RIght now there is no chance to see that scenario and a retracement is more likely to be see in the coming days

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Consolidation in the following period

Currency Pair:Eur/Jpy
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 146.55
Trend: very strong uptrend
Possible trading range: 143-150
Signals: As many other japanese pairs the Eur/Jpy has jumped sharply at higher levels gaining almost 1000 pips from 138 to 149. Having this in mind i think that a pause in the rally is necessary for future rallies. THe overbought status will certainly attract more bears in the market.
Fundamentals: The unknown variable remains the ECB…
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marius24 2014年12月09日

update:eur/jpy rallied until 149.77 and from this point the tumble has begun:)).  On the 1 hour chart a head and shoulders pattern with its neckline at around 148.22 has been broken to the downside and after that an ascending channel has been breached at 147.48 dragding down the price as low as 146.78. It's worth mentioning that the latest fall comes due to the sell off in usdjpy and a little risk averision in the equity markets. Current price 147.78

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marius24 2014年12月18日

update:the price continued to fall towards 144.96 where until now it proved to be a bottom. The current price is hovering at 146.10 and only further falls in eur/usd will probably cause the same reaction in Eur/Jpy. I remain in favour of seeing more sideways moves in the coming days.

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marius24 2014年12月26日

update: eur/jpy has been under two opposite forces coming both in the same time ( bullish usd/jpy and bearish eur/usd). Technically speaking a head and shoulders pattern with its neckline at 145.54 is right now underway ( 4 hour chart). The current price is at around 146.63 not far way from my target

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