Cryptocurrency Analysis: Bitcoin, Ethereum Prices Plunge into Support

To receive Michael’s analysis directly via email, please SIGN UP HERE Talking Points Bitcoin (BTC/USD) 240min Chart Technical Outlook: The price of Bitcoin plummeted today, breaking a near-term consolidation range that has held since the July 20th high. The decline is now approaching initial support at the confluence of former median-line resistance (blue) & the […]

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AUD/JPY Reversal Targeting Initial Support Hurdle

Talking Points AUDJPY at risk sub-86.82 – Key near-term support into 84.86 Updated targets & invalidation levels Looking for more trade ideas? Review DailyFX’s 2017 Trading Guides. Join Michael for Live Weekly Trading Webinars on Mondays at 13:30GMT (8:30ET) AUD/JPY Daily Technical Outlook: AUDJPY turned last week from the December high-day close at 86.93 with […]

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GBP/CAD Testing Key Support Ahead of Canada Employment

Talking Points GBP/CAD responds to confluence support ahead of key CAD data Updated targets & invalidation levels Click Here to be added to Michael’s email distribution list. GBP/CAD Daily Technical Outlook: GBPCAD is responding to confluence support at 1.6357 where the 61.8% retracement of the October advance converges on the median-line of the embedded descending […]

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NZ Dollar Gets Support From Upbeat Data Deluge

Talking Points The New Zealand Dollar got some pre-Christmas cheer on Monday A raft of data from its home country came in strongly Perhaps a bit too strongly in terms of the Auckland housing market The New Zealand Dollar gained against its US cousin on Monday after a raft of encouraging data out of its […]

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US Dollar Index Old Highs Should be Marked for Possible Support

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -Recent comments noted that “Monday’s (11/14) close settled above channel resistance, indicating potential for upside acceleration (could be a ‘blow-off’). The importance of the break through resistance is accentuated by the fact that channel resistance (former now) was support earlier this week (on […]

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US Dollar Index – Former Resistance Provides Support

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -The rally post-election has covered the entire channel and then some. Monday’s close settled above channel resistance, indicating potential for upside acceleration (could be a ‘blow-off’). The importance of the break through resistance is accentuated by the fact that channel resistance (former now) […]

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DAX Drops into Trend-line Support, Hourly Chart in View

What’s inside: The DAX drops hard into June trend-line Needs to quickly find support or increases likelihood of sustaining additional losses 60-minute chart in view with short-term levels and notations In yesterday’s session, the DAX gapped higher by about 40 points and quickly found sellers above the 10/28 high. The resulting gap-n-trap sell-off ended with […]

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GBP/USD Technical Analysis: The Fleeting Semblance of Support

To receive James Stanley’s Analysis directly via email, please sign up here. Talking Points: GBP/USD Technical Strategy: Longer-term price action still bearish; post-Brexit range saw aggressive downside break. With GBP/USD working towards 30-year lows, there is little by way of ‘usable’ technical levels here for traders. If you’re looking for trading ideas, check out our […]