equidistant channel Archive

Weekly currency trend analysis – Week 32 2015

Weekly summary of forex majors' price action in previous week. Forex majors are little changed for Week 31 2015. Charts for NZDUSD, DAX.

Weekly currency trend analysis – Week 31 2015

Weekly summary of forex majors' price action in previous week. AUDUSD continues to weaken, EURUSD gains the entire week and GBPUSD is supported.

Currency pairs update 09 June 2015 (Week 24)

A daily support for TerraSeeds Tflow® forex course. Looks at USDCAD, GBPUSD. Login only.

WTI up trend or down? Setup for selling continuation into high

WTI shows signs of continuing downtrend. It is now approaching good resistance that bulls could see bullish reversal but is ideal selling place for shorts.

Some readers’ questions for this week (wk11)

We tackle questions of the week from members of the community. This week, questions on trend identification with AUDCAD, relevance of 1-2-3-4 setup on EURUSD, how to short WTI.

AUDUSD – What happened when RBA keep rate unchanged?

Before RBA meeting 11.30am this morning, I asked myself this question, will RBA ease again consecutively? I asked myself this question during the weekend before, and kept asking this question when I was conducting Tflow® Intake 46 class. My take during the class, was NO. This was confirmed by an industry veteran.

STI back to 3300 but could be pullback in downtrend

Straits Times Index pulled back to challenge 3300 but technical setup suggests downtrend started. There is a confluence of overhead resistance to overcome including A) 3300 B) Fib-R levels and C) downtrending equidistant channel.

Straits Times Index finds support; potential support levels below

Straits Times Index is supported by a confluence of technical studies for now. We project potential support levels it can reach in a deeper correction. Projection places 2970 - 3050 as a zone to evaluate the technical picture again.

EURUSD technical picture suggests move to 1.3050

Technical picture provides 3 clues that suggest EURUSD may go to 1.305: 1) downward equidistant channel 2) significant 50% Fib-R support not reached yet and 3) pennant chart pattern that points to continuation.

3 reasons to be bearish USDSGD; another bull trap exposed

There are three strong reasons to expect USDSGD to continue trending downwards: 1) 4-year consolidation 2) downward channel 3) multiple month trend. In addition we spot another bull-trap (#3) as well as point out levels to expect a signal.