The GBPJPY is forming a daily Doji after yesterday’s daily Hammer/Doji, catching its breath after a rally extension from last week’s low. Odds are decent for a test of the December high in April after decisively breaking this week above triangle resistance (on the weekly chart)…
Gold (GC) is consolidating near ascending triangle resistance (on the 4hr and daily chart), and appears to be gearing up to retest upchannel resistance (on the weekly chart) ahead of the weekend. With GC having recovered from a brief dip Monday below the psychologically key 2000 whole figure level, odds are elevated for GC to before month end, form a fresh 2023 high and complete a Bull Flag consolidation since August 2020 (as can be seen more easily on a monthly chart on tradingview.com)…
The AUDJPY is gaining for a 3rd straight day and week after today’s Asia morning release of Australian employment data. Significantly, the AUDJPY is quickly nearing last week’s high, with any weekly close above the 2022 high to dramatically increase the odds of testing the 2021 high in the month after…
Natural Gas (NG) is consolidating after rallying another more than 2.5% yesterday, and is increasingly well positioned to reversing the sharp selloff from the February high. Significantly, odds are high for NG to break above the 50% Fib retrace of the January-February rally, coinciding with the psychologically key 4.5 whole figure level, by the weekend…
The GBPAUD is consolidating for a 6th straight day going into today’s European morning, hovering just below ascending triangle resistance (on the 4hr chart). Significantly, GBPAUD has been testing triangle resistance (on the daily and weekly chart), with odds high for a test of the 50% Fib retrace of the August to November slide by month end…
The GBPJPY is trying to form its 6th straight green daily candle, but could begin consolidating today as it bumps up against ascending wedge resistance (on the daily chart). Significantly, the GBPJPY has decisively broken a downtrend resistance line (on the weekly chart) connecting the May and September highs, and is suddenly back to near the 2021 high formed in May…
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Register/Login to freely access technical analysis on the market described in the headline above. Today’s Top 3 Trades includes technical analysis on: FX (GBPUSD | GBPJPY) + Today’s Top Trade (Silver) Join the world’s largest asset manager and 2 of the world’s 5 largest (and 5 of the 10 largest) hedge funds by AUM asRead More
Register/Login to freely access technical analysis on the market described in the headline above. Today’s Top 3 Trades includes technical analysis on: FX (GBPJPY | GBPUSD) + Today’s Top Trade (Silver) Join the world’s largest asset manager and 2 of the world’s 5 largest (and 5 of the 10 largest) hedge funds by AUM asRead More
