UnknownUnicorn135402

UnknownUnicorn135402

Call me stubborn, but I still believe prices must bottom soon. This hourly chart shows how prices fell yesterday, on bad news from America, then recovered promptly during the next hour. Fell again, recovered again. And are heading up now. Too early to jump in a trade, of course, but well... something to think about anyway. A break of 1.35 will be taken as the...

UnknownUnicorn135402

Pound may continue to fall versus Yen as it stalls after breaking a downtrend line. This is also close to 30-50% reaction zone from previous highs. The next target after breaking 154.70 would be 147-150 support zone.

UnknownUnicorn135402

Major downtrend on Cable may continue after testing a trendline that starts in the middle of February. Stock RSI is overbought and signals potential reversal. The next target after breaking 1.3835 is 1.3500 support zone.

UnknownUnicorn135402

After "shifting" the green upward channel higher in the late January (acceleration), we are now arriving at a critical support zone for USDCAD at around 1.3550 US Dollars (the blue channel). From a fundamental perspective, Canadian dollar is an oil-dependent currency. And since oil price is still going down and US numbers are "not so bad", we might see a...

UnknownUnicorn135402

Now, one thing is a concern for me here: price breaks trendline and it also breaks the resistance line. We only had a similar incident in Mar 2014 and that resulted in a continuation of a downtrend. An uptrend (as well as a downtrend) only exists when it can be clearly marked with a trendline. As of now, it is simply impossible to draw any reasonable trendline...

UnknownUnicorn135402

Let's take a look at the monthly chart of gold. 1. We can clearly see a major downtrend line starting in Sep 2011, when gold was trading at its pick of roughly 1920 U.S. dollars per troy ounce. 2. In Oct 2012 an acceleration started. It lasted till Jun 2013. 3. Ever since that time gold has been going down at a slower pace shitting the trendline. It is not...

UnknownUnicorn135402

... since the end of January 2015. And March 2014 before that. Is it going to drop now as well?

UnknownUnicorn135402

Everybody and his dog has been recently saying that rising Federal Funds Rate (FFR) is going to lead us to a stronger U.S. Dollar. While I'm not an economist, simply looking at what USD was doing during the same periods in the past, I can at least say, increasing FFR doesn't necessarily result in strengthening of the currency of the United States.

UnknownUnicorn135402

Volume means activity. These volume spikes concern me - something happened. While I will never find out what exactly that was, judging by the fact that the first spike occured almost on the very top (left shoulder, even before I was bearish on this pair - which makes sense) and that we have just had the second spike at the bottom, after the pair fell considerably,...