EURUSD 2 Week Plus Bull Flag Consolidation Near Complete

The EURUSD appears to be gearing up to complete the 2 week plus Bull Flag consolidation and retest the psychologically key 1.05 whole figure level before the weekend. With the EURUSD comfortably above downchannel resistance (on the weekly chart), the EURUSD has halted a slide since June 2021, which itself is a part of a major downtrend from 2008 (as can be seen remains intact on tradingview.com)…

GBPAUD Consolidation Around Weekly Chart Downchannel Resistance Near Complete

The GBPAUD appears to be in the advanced stages of consolidating near downchannel resistance (on the weekly chart). Any break above triangle resistance (on the 4hr chart) today will dramatically increase odds in the few days after of reclaiming the 61.8% Fib retrace of the February to September slide followed by the psychologically key 1.80 whole figure level…

GBPAUD Retests Key 1.80 Level

The GBPAUD is consolidating just above what is arguably downchannel resistance (on the weekly chart), forming a 3rd straight daily Doji/Hammer near the psychologically key 1.80 whole figure level. Although the GBPAUD remains slightly above the 61.8% Fib retrace of the February to September slide, after the powerful bounce off the September low, a healthy pullback to the 50% Fib sometime in November is moderately likely…

EURUSD Testing Weekly Chart Downchannel Resistance

The EURUSD is consolidating after the strong bounce from the 2022 low (in September), and is at risk of seeing more healthy profittaking today as it bumps up against downchannel resistance (on the weekly chart). Regardless of any deeper pullback today, the EURUSD is progressing at forming a major bottom, with a high likelihood of a weekly close above the psychologically key 1.00 whole figure level…

Cocoa (CC) Consolidating Near Weekly Chart Downtrend Resistance

Cocoa (CC) bounced almost 1% yesterday, closing just below descending wedge resistance (on the weekly chart). A weekly close above the 38.2% Fib retrace of the February to September slide is moderately likely by month end, and would dramatically increase the likelihood of a retest in the week after, of the 50% Fib retrace of the February to September slide, coinciding with the psychologically key 2500 whole figure level…

GBPAUD Consolidating Just Below Key 1.80 Level

The GBPAUD is consolidating around what is arguably downchannel resistance (on the weekly chart), taking a breather after breaking Monday above the psychologically key 1.80 whole figure level. Although today’s sliding below an uptrend support (on the daily chart) increases odds for the healthy pullback to deepen, a break below the 50% Fib retrace of the February to September slide before month end does not appear likely…