Forex pairs ideas this week 42 2015

DJ30 pullback meets potential resistance

  1. Current action is a pullback.
  2. Orange for potential resistance was a previous resistance-support zone at 17k vicinity.
  3. Trend lines additional resistance to overcome.
  4. Green for next levels should orange lack enough stopping power.
DJ30 chart illustrating pullback and resistance zone around 17k

DJ30 chart illustrating pullback and resistance zone around 17k

 

XAGUSD turns positive for 2015

  1. Wrote previously there was support from 14.40 which is basis for bulls to buy.
  2. Now bullish expansion for the month over September.
  3. Last week, price went above 15.65 to turn positive for 2015.
  4. I do not think it qualifies as reversal and new up trend until 18.50 is overcome (neckline of double bottom).
  5. Green are ‘milestone’ price levels for XAGUSD.
XAGUSD monthly chart

XAGUSD monthly chart

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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005. Soh Tiong Hum is a member and regular speaker at Technical Analysts Society Singapore events and has a bi-monthly lunch time event at IG Singapore on forex and stock markets. He is an avid blogger on technical analysis topics; his Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX. Come find Tiong Hum on Google+
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