By breaking down the price level of 1.5050, the bears confirmed a long-term Head and Shoulders bearish reversal pattern. The bears managed to break down to 1.4950, then 1.4730 corresponding to 50% and 61.8% Fibonacci levels. Two bullish spikes were expressed above 1.4950 (50% Fibonacci level on the daily chart) took place.
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One month ago, the bears initiated a bearish trend off price levels around 1.7150-1.7190.
Cameron also called for an immediate halt to Russian tanks crossing into Ukraine. Separately, Ukraine says two columns of Russian military vehicles have been destroyed near Ilovaysk
U.S. supplies of natural gas increased 75 billion cubic feet in the week ended Aug. 22, the Energy Information Administration said Thursday
First it was the 2007 financial crisis. Then it became the 2008 financial crisis.
The yen and Swiss franc gained on Thursday, while the euro fell, as concerns about a serious escalation in tensions between Ukraine and Russia rattled investors and drove them to seek safe-haven currencies. The euro hit a 21-month low against the Swiss franc of 1.2052 francs per euro on trading p…
For the audusd pair there is still trouble ahead as the path of least resistance seems to be still to the downside and not the upside like recent price action might indicate. The thing is that the pair is consolidating for the last 5 months around 0.95 and 0.9300 levels, so 200 pips range that tells everything about what summer trading means. However, things are about to change as we’re getting closer to the Fed ending the tapering and probably with the Fed rising the rates sooner than expected.
USD/CAD is turning a bullish breakout signal into a bearish one this week. At the beginning of the week, USD/CAD broke above a resistance at 1.0985 and looked poise to rally toward the next resistance around 1.0150 from April
This Friday cannot come soon enough for some forex market participants. So far this week, investors have been starved for fundamental data to back their currency positions.