Reply to thread

Message: [QUOTE="fxmars, post: 67622, member: 30843"] USDCHF: [IMG]http://i.imgur.com/M3zAuUI.png[/IMG] After the break through the neck line at 0.90367, the Swissy has confirmed the small head and shoulders formation (green). At the same time, after it entered the area of the overbought market, the stochastic oscillator broke its blue bullish line in bearish direction and then it has tested it as a resistance, which supports the eventual bearish movement. We should not forget that in order to complete the head and shoulders formation, the price should go beyond the yellow bullish trend line from May 8. If a break in the yellow bullish trend line occurs, we might see the price reaching the support at 0.89485. If the price bounces from the yellow bullish trend line, the next resistance to be met is the last high of the price at 0.91181. AUDUSD: [IMG]http://i.imgur.com/VaA9KER.png[/IMG] After the confirmation of the green head and shoulders formation, the price tested the already broken purple bearish trend line from April 10 as a support. The followed bounce brought the price to the already broken 0.93195 neck line of the head and shoulders formation in order to test it as a resistance. At the same time, the stochastic oscillator is about to enter the area of the overbought market, which would give us a bearish signal. Furthermore, the resistance at 0.93195 is expected to slow down the bullish movement of the price. After all, we should not forget that the price of the Aussie should at least reach the support at 0.92027 in order to consider the already confirmed head and shoulders formation as completed XAUUSD: [IMG]http://i.imgur.com/lZwVT4K.png[/IMG] After the bullish divergence between the bottoms of the price and the stochastic oscillator, the price did a bullish break through the orange-blue falling wedge formation. The price increased and the two tops after the break have confirmed the upper level of a bearish corridor from July 10. As we see, after the bullish potential of the wedge was completed, the price has bounced from this level, which speaks of an eventual decrease to the lower level of the corridor. At the same time, the stochastic oscillator got out of the area for an overbought market and it is currently supporting the eventual decrease of the price, which could reach either the already broken upper level of the wedge as a support, or the support at 1268.56, or the both level at once. 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 [/QUOTE]

Verification

Top Bottom