The EURUSD changed from a bearish head and shoulders setup into a flag-like bullish one. Earlier this week, we saw a head and shoulders setup and looks good for a continuation short in the 4-hour chart. It broke the neckline but was faded quickly. Since then, price
Read more →From this chart, support for USDJPY can be visualized differently but there is one clear resistance. The nearer we go to the apex, the higher there is a chance for a technical movement that could resolve into a trend continuation or a bullish breakout. Usually a downward
Read more →This head and shoulder-ish pattern could be a continuation in light of the downward trend we covered in previous analysis. The neckline is critical and price hitting confluence an hour ago is classic. Which way? RELATED ARTICLES GBPUSD bound in 7-week range Follow me on Twitter @sohtionghum
Read more →Gold closed the 1st week in Jan 2012 higher than the last week of 2011 at 1616 and it forms a higher high and higher low compared to the previous week. This may sounds bullish. Upon inspection of the daily chart, we have two potential scenarios. The
Read more →September highs are probably providing some relief to DAX bulls. In view of the big down trend, not for long. This almost symmetrical triangle and probably a continuation one is very obvious so trend following bears are likely to complete it. If that is true, then the
Read more →The US Dollar index has reversed according to moving average studies. Support has also been found at the 76 to 77 region. A successful cup and handle could mark the start of further gains on the long side. Cup and handle confluence with trendline; ‘break’ two birds
Read more →Gold closed the week of 17-21 aug above 1600, at 1639.90. For the week, it didn’t manage to break 1690 level. It confirmed the wedge formation and it came down towards 1600 & supported at this level. Overall, Gold is consolidating in a range of 1600-1690. The
Read more →For the week of 10-14 Oct, Gold didn’t move much compared to the previous week. The range for the week is 1638-1681 and it closed the week at 1679. The closing price is just near the previous 2 weeks high (1677 & 1678). Week over week, gold
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Massive liquidation occurs in gold last week (19-23 Sep). Within a week, it covered $198 per ounce (1826-1628) and closed at 1640. It broke double top neckline at 1702 (3rd week of Aug low), covered the gap occurred on Aug 8th and finally found support at July
Read more →Overview Week to week, euro dollar hasn’t moved much and look consolidated within the Highs and Lows of week 33. Nevertheless, it is still progressing upwards in the equidistance channel formed since early August. Daily Chart Going into the daily chart, it is evident every month ended
Read more →The week of 22-26 Aug was a volatile week. Gold made a historic high at 1912, retraced down to 1702 and returned back to 1823. To put the volatility into perspective, for the current month – Aug’11, we have a price range of 210 (1607 to 1912).
Read more →Overview Euro dollar has been closing at the monthly pivot for consecutive weeks. Last week saw a down sloping equidistance channel formed with an average of 280pips rollercoaster ride. Trust many TFlow students caught the EWUS short trade at beginning of the week. Expectation for Week 32
Read more →Overview of Wk 31: As anticipated in the previous week analysis, a third peak formed caused bears to go into a selling frenzy causing about 530 pips to plunge. Expectation for Wk 32:(see D1 chart) Price seemed to be consolidating, bounded in a rectangle. Price paused at
Read more →Overview Price is currently resisted at the monthly pivot with its closing value modelling the opening one @1.4400. Although price closed lower, Euro dollar actually formed a new top virtually matching that of July’s high. Expectation for Week 31 It’s the first time in three months since
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