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EURUSD to reach for higher values

thepipswizzard Posted 6 Mag  in #Trader's blog
I would say the triangle just broke higher and a clear abcde move but, what people don't realize is the fact that the level to be broken on the move to the upside is not given by the previous 1.3966 area but by the all important 1.3922. The reason for that is the fact that price formed a contracting triangle on the previous high and that is all that matters.
In other words, now that the 1.3922 is broken, I would say 1.40 would come sooner rather than later. It remains to be seen if we have so…
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Bearish Aussie

thepipswizzard Posted 28 Apr  in #Trader's blog
Dynamic support has been broken and judging by how well price is trending here in this channel I would say it is just a matter of time until 0.92 will be broken.....so, long story short, stay on the short side until 0.92 is reached and then prepare for the upper part of the channel to come...
I would say usdcad is more bullish than audusd is bearish so those flows will come to influence this pair as well.
Make no mistake the main event markets are looking for is NFP this Friday, and not th…
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USDCAD to run higher

thepipswizzard Posted 27 Apr  in #Trader's blog
Like the name suggests here I am quite bullish on the usdcad as the pair is forming a triangle right below a potential inversed head and shoulders pattern and the measured move shows something like 1.1180 area to come. This triangle is a continuation pattern and in light of the FOMC to come I would say the US dollar will move higher across the board on the Fed continuing the tapering process started some time ago. News out of US were mixed but the economy is not deteriorating. It remains to be s…
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X wave for GBPUSD means lower values to come

thepipswizzard Posted 25 Apr  in #Trader's blog
After a common flat completed market formed yet another flat, of the same degree, but seems to be only an x wave, or an intervening x wave as it is also called.
This means another corrective wave to come, most likely a zigzag this time as on the bigger picture it seems we are having a contracting triangle on the bigger time frames.
It remains to be seen how this Friday will end up. Price action is bullish now, but sentiment may change in a blink of an eye....waiting for London for directio…
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EURUSD not feeling well here

thepipswizzard Posted 24 Apr  in #Trader's blog
b-d trend line broken and in my book this is a bearish break, looking for 1.3750 area to offer support next.....should we bounce from there? well, it is too early to tell but at least the thrust of the triangle should come and that would be the minimum target. I would be careful in the 1.3740-60 area as bulls are watching carefully still....
I would say this one is still only a leg of a contracting triangle as it is being made only of corrective waves out of a lower degree....in our case, it …
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Struggling with the neckline (USDCAD)

thepipswizzard Posted 23 Apr
But, o a clear break I am looking for 1.1170 area to come sooner rather than later and this implies an impulsive move. Price is forming here some sort of a running variation of a contracting triangle and this should be bullish heading forward as it is always being followed by a strong continuation move.
Retail Sales in Canada about to be released but I would say fundamentals are not going to play an important role here as the pair is bullish on technical grounds. Bigger time frames suggest ev…
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EURUSD still looks bullish

thepipswizzard Posted 22 Apr  in #Trader's blog
Still a bullish eurusd in the sense that what we are having here is a possible b wave out of an X wave of a bigger degree or just a classical zigzag with an impulsive move to come. This impulsive move is mandatory to break the 1.3920 highs and I would say that this should put pressure on the psychological 1.40 level.
The thing is that the tone the pair is having is a clearly negative one, or bearish, but for whatever the reason this area provides quite a nice support.....it remains to be seen…
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Bearish GBPUSD

thepipswizzard Posted 21 Apr  in #Trader's blog
What you're seeing on the chart above is a so called dynamic resistance and the thing is that this one usually comes with fake moves so what I would like to see here is a rejection from current levels and a drift lower towards 1.67 area. I am really not asking for much as this market seems to be unable to fight above the all important 1.68 level. At least not now.
Therefore, it just made a new high, but only a marginal one, sucking bulls in, and now about to offer them a big disappointment. I…
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Lower AUDUSD expected

thepipswizzard Posted 20 Apr
Quite a bearish audusd for starting the week and keep in mind that this is a week when CPI = inflation is released in Australia as well as important Chinese data is coming. And everything out of China matters for the AUD as 1/3 of the Australian exports is going to China.
In other words: strong demand from China = higher AUD and the opposite is true as well = weak Chinese economic data points towards a weaker Australian dollar.
However, this is the AUDUSD pair and this one is inversed correlated…
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Bullish usdjpy to come

thepipswizzard Posted 19 Apr  in #Trader's blog
Bullish usdjpy in my point of view as we have a possible pennant on the lower time frames and this should be coupled with the double flat already completed.
The thing is that the recent move to the downside, the impulsive move in blue you can see there is most likely a c wave of a bigger degree and now we should go and probably make new highs when compared with the ones in the 105 area.
What does this mean for markets in general? Well, first thing to come to my mind would be higher equitie…
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1 Commenti
dada123 avatar
dada123 20 Apr

looks good

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