It looks like a squeeze play is developing on the EUR/USD 60M charts. It is on the daily charts as well but is obviously not as pronounced. RSI shows a definite uptrend since early May and a definite downtrend for … Continue reading
EUR/USD appears to be bouncing off trendline support at 1.53450. This is confirmed with a possible doji and a bullish close to the 18:00 candle. See below. UPDATE – Pair rose over 70 pips from doji to 1.550 resistance!
NZD/USD signal from 4:26 GMT 5-15-08 has been cancelled due to a break to the upside. Good no trade.
USD/CAD is for the third time in three days meeting support around 1.000. Though this against the downtrend aggressive traders might look for a candlestick entry point or a possible head and shoulders reversal formation. UPDATE: 19:14 GMT: USD/CAD did … Continue reading
2:00am GMT USD/CAD formed a bearish doji on the 60M charts near trendline resistance which has been tested 3 times already. I expect the pair to continue downward.
Breakout/flagpole entry order placed below current NU consolidation after flagpole. Entry placed 5 pips below large round # .7550. Small flagpole, only 60 pips. Possible negatives include an RSI divergence on the 60M and strong support at 0.7500 scaring off … Continue reading