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AUDUSD Big Top Warning
Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
Why Stockholm?
Dear reader, you are about to embark on a journey. It starts with the dark beginnings of the modern forex industry and leads you to a city of light: Stockholm. You will hear about the questionable practices of the dealing desk brokers. You’ll learn about the Nordic philosophy of fairness and balance. And you’ll start…
Market Update 1/27 – USD Breakout!?
USDOLLAR (quarter each of EUR, GBP, JPY, and AUD) has broken above the trendline that originates at the 11/12 high. The top side of that line is now proposed support near 11684. Upside focus is the 12/21 high at 11837. The level is reinforced by the median line from the fork that originates at the January 2017 high. A longer term chart is shown below for context.
Market Update 3/3 – Honing in on USD Long Entries
A well-defined base has formed in USDOLLAR since mid-February. Zooming into price action since the 2/25 low reveals an impulsive advance followed by a drop and today’s bounce. I’m of the mind that the drop and bounce compose waves A and B of a 3 wave pullback. Ideal support for the end of the pullback is 11634/51.
Market Update – April 29
To review, USDOLLAR dropped in 5 waves from the March high. The 4/14 low was right on the 61.8% retrace of the rally from the March low. At that point, I was looking for a 3 wave rally back to 12692. Instead, USDOLLAR has traded in a tight range. Price is nearing the 4/14 low. It’s not impossible that the rally into the 4/21 high at 12593 is the entire correction but the correction would be awfully small in both time and price retracement. So, it’s possible that a flat is unfolding. Under this scenario, a C wave rally (probably sharp) will begin from nearby levels (may or may not take out the 4/14 first).
British Pound Crosses – Median Line Application
Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.