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Author Topic: Week Ahead 10th August Technical Analysis From Fxmars  (Read 1423 times)
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« on: Tuesday, August 12, 2014 - 02:58 »

Posted by fxmars.com

After the second interaction with 1.33634 and the little break through that level, the price bounced in bullish direction and it is currently moving toward the upper level of the blue bearish corridor from April 21. The stochastic oscillator is currently changing its direction from bearish to bullish. At the same time, there is an obvious bullish divergence between the last two bottoms of the chart and the stochastic oscillator. For this reason, we believe that the price is doing a correction, which would eventually reach the upper level of the blue bearish corridor.

After its last interaction with the orange resistance at 102.725, the price started decreasing faster than usual. We remind that a signal for this was the bearish divergence between the last two tops of the stochastic oscillator and the chart. Furthermore, the current decrease of the price could be interpret as a rebound of the previous bullish activity. The stochastic oscillator broke its isosceles triangle in bearish direction, which supports the bearish movement of the price. For this reason, we believe that the price would eventually reach the many times tested support at 101.228.

After the price met the 1.68105 support again, we saw a Doji candle, and a correction of the bearish tendency to the purple bearish trend line from July 15. The price bounced in bearish direction from the purple bearish trend line and it broke the already mentioned support at 1.68105. At the same time, the stochastic oscillator did a bearish cross of its two lines, which supports the current bearish movement. For this reason, we believe that the price would meet at least the support at 1.67337, and eventually the next one at 1.66855. Do not forget that the stochastic oscillator might enter the oversold area at any time, which would give us the opposite signal.

After the Swissy interacted for second time with the resistance at 0.91055, the price did a quicker drop and it broke the yellow neck line of the small double top formation with tops from July 30 and August 6. This confirmed that the double top formation is authentic and a further bearish movement is likely to occur. Currently, the price is testing the support at 0.90317, but having in mind that the price is moving toward its blue bullish trend line, and the fact that the double top formation is confirmed, we believe that the support would be broken soon and the price would fully complete its double top formation.

The Aussie keeps moving in bearish direction after the already confirmed big head and shoulders formation (blue). The price even broke the support at 0.93304 and decreased to the already broken green bearish trend line from April 10, which is currently being tested as a support. The price has completed about 2/3 of the potential bearish movement of the already confirmed head and shoulders formation and we believe that it would fully complete the formation. Having in mind that the green bearish trend is being tested as a support now, we believe that the price might correct to the level of 0.93304 and to test it as a resistance before any further bearish activity.

The price of the gold broke in bullish direction its green falling wedge formation from July 15. The price has already completed about 3/4 of the bullish potential of the formation after the break, so another increase might occur. This could actually happen after a bearish correction of the price, because, as we see, the stochastic oscillator is about to enter the area of the overbought market. Furthermore, the last bullish movement of the price is currently slowing down. After an eventual bearish correction, the price could hop in bullish direction with new strength and could complete the bullish potential of the already broken falling wedge formation. The next resistance of the price

Disclaimer: Data, information, and material (“content”) is provided for informational and educational purposes only. This material neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any Forex or CFD contracts. Any investment or trading decisions made by the user through the use of such content is solely based on the users independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Neither FxMars.com nor any of its content providers shall be liable for any errors or for any actions taken in reliance thereon


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« Reply #1 on: Thursday, September 14, 2017 - 15:28 »

I would think they would pick a city in the southwest being that it JT tour. But who knows?

I suggest you try expert advisor for successful investment
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