THURSDAY, SEPTEMBER 22, 2011Cable has changed the direction of the main move of the year (MMOTY) today. Euro should follow soon as well as the other majors. When this happens, usually there is some extension expected. In this case favoring the bullish USD. AUDUSD also broke a very impotant supportive trend line and is heading to change the MMOTY.Elsewhere, USDx is about to reach a bullish MACD must-reach target @ 78.86. As mentioned quite a few times during…See More
"Gold broke down a rising wedge and also it has a gap left from the beginning of the week that has to be covered from the beginning of the week, nothing special there. However, I might risk and say that we could possibly have seen the top of…"
THURSDAY, AUGUST 11, 2011#ES and #EDJI Technical PicturesIt seems like we are going to see some more slide in the equity markets pretty soon.The S&P 500 e-mini is showing the index inside a triangle formation in the 30-60 min time frames. The main diagonal is pointing up. Therefore it suggests it being a continuation pattern.Pretty much the same can be said abot the e-DJI. We could see the future index as low as 9750 points sooner than expected.I wouldn't…See More
"By the way, the low of the week was taken out during yesterdays session. Long stops were taken out thus suggesting a short term continued move down. We still have monthly and weekly main move both down."
Wednesday, August 10, 2011#AUDUSD Long Term OutlookThis pair has perhaps the most exciting technical picture at the moment.After reaching historic highs, the aussie reached and bounced from a trend line (to the pip) observed on the weekly/monthly charts. Just draw a line connecting the highs of 2004/2008/2011. On the other hand, I also ask you to draw a descending TL extending from the lows of 2004/2008 and projecting on. This should be enough to give you the…See More
This pair has perhaps the most exciting technical picture at the moment.
After making a historic highs, it reached an ascending trend line (to the pip) observed on the weekly/monthly charts. Just draw a line connecting the…"
"There's a resisting trend line that is being tested/validated as I type this. A break of this line, will most-likely mean an upward move for the EURO. However, Main move of the month, of the week and of the day (so far) are ALL down."
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