blessed youOriginally Posted by ;
My impression was that on last friday's USD rally market celebrated all needed signatures.Originally Posted by ;
Very true. The tax deal is 90% priced by currently in DXY.Originally Posted by ;
Having said that what I figure is this: EURUSD was annihilated during the run-up in DXY, and the two antipods (AU and NU) got nicely bid. I figure this will be a rotation out - EU will get bid / will change into bull mode and the two antipods will probably turn into bear mode once they activate strong overhead resistance.
Still some upside down however, so just short upon effect intro strong resistance.
PS: EURAUD can flip into bull mode big time - EU upward and AU down - EURAUD can operate up as much as 400-600 points in 2 weeks. ))) Just saying...
I exchange AUDUSD entirely, would be good to take part and learn about more technical analysis. subscribed.
I'm waiting to get a close above bearish engulf on the weekly and new slopes around the daily before taking longs.
Revised load zone is quite close to the final price on Friday. Buy shallow drops near Sunday available (25-35) STOPS @ 7605 goal (take) is 7715.
If you are monitoring AUDUSD this week, then consider this technical perspective.
On the daily time frame, price action is respecting a resistance trendline (navy color) from the high of September 8, 2017. Even though the order flow is blended, bears are very much influential. For much of last week, bulls took price northward but bears controlled the movement on Friday. The Friday candlestick printed bearish however we might observe some battle in the effort of bears to take price farther south as price action is in a major support zone. But, there could be a retracement to test the resistance trendline prior to any bearish turnaround. Should bears succeed in a follow through we might observe the 0.74970 area exposed as a goal.
About the H4 time frame, price action is respecting a resistance trendline (magenta color) from the high of September 22, 2017. A descending channel was formed while the resistance trendline is aligned with a support trendline from the lows of recent candlesticks. The most recent price action is at the distal or channel resistance line. There, a flag pattern formed on Thursday and part of Friday last week but was broken southward. We might anticipate bears to follow along with a further transfer. The 0.75360/0.75103 zone is a direct support zone and might be attractive to bears as an original goal. Attempts by bulls to induce price northward could be mitigated by the resistance trendline (navy color) seen on the daily time frame.
I might be incorrect. Trade safe and prosper.
KP
Agree, I am looking for bear entrance, gold is moving sideways, beneath a bit of sell pressure. But will see London opening how it goes.Originally Posted by ;
That was only a little bit of fun in the morning, while the true wave count could go like this:Originally Posted by ;
Best to your transactions!