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
Read more →Following the sell off on 1st week of May, Gold made a retracement of the down move last week (2nd week of May). The retracement, at the end of week, is forming a “pennant” like chart pattern. This pattern, once confirmed, is considered as continuation pattern of
Read more →$USDJPY remains at the resistance of a symmetrical triangle visible on the daily chart (see Sela’s posting on 14 February 2011). This level is also near to an 8-week high. If price stays above 83, there is a possibility for a flag-like continuation pattern.
Read more →The Dow appears to be more ‘resisted’ than supported. A bullish situations hangs on the a few potential ‘ideas’ for support as well as the 200-day ema. GBPUSD prints likely continuation for short. This is despite it near to more resistance of March 2010 and mid-July 2010.
Read more →In my earlier post, we discussed higher bases for Euro on a week to week basis. A look at the current daily and 4-hour chart suggests that risk for a downward move has appeared. Daily momentum suggests that a bearish pennant is likely. Despite the higer bases,
Read more →The Loonie (USDCAD) is on a downtrend since 2009 and it does not seems to have any attempt to reverse this trend as of now. As from the Weekly Chart above, the Loonie is making its way near to 2009 support and it is also near to
Read more →Pattern requires break of short blue trendline to confirm.
Read more →Today, we shall excite ourselves by looking at one of the most volatile currency pairs, GBP/JPY, which has a daily average fluctuation of about 300 pips. In addition, we shall see how 3 chart patterns that is very evident on GBP/JPY for trend reversal and trend continuation
Read more →The CADJPY displays a formation that looks remarkably like a pennant. This is because of the ‘flagpole’ which tells us the strong upward momentum in its previous rally. This flagpole and subsequent side-way movements suggests a continuation action after profit-takers have been cleared and strong bulls take
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