Current Technical State: Bullish

Nearest Support Level:1.70

Nearest Resistance Level: 1.74

Support & Resistance

Price rose above prior resistance now support at 1.70. Next target is 1.74.  Weekly candle of May 13th breakout above 1.70 was very bullish.

Last Confirmed Candlestick Pattern

The Bulli...

05.27.19 08:41 PM - Comment(s)

Closed a weekly trade for a loss this week on $CHFJPY.  The Franc is often a tough currency to be bullish on however I was looking for the ascending triangle and for the early February bottom to hold.   Entering on 4/7 at 111.71 I closed the trade on 4/21 at 110.30 taking a 141 pip lo...

04.23.19 09:48 PM - Comment(s)
I posted this entry last week 

Forex Forecast #NZDUSD Bearish

and this week the Kiwi capitulated. Today's break of .6700 confirms the change in trend to the downside.  The selloff will c...
04.18.19 10:16 PM - Comment(s)
CHF/JPY has been trading in a broad range between 108 and 118 since April of 2017.  The bottom of that range was visited on with a flash crash move at the end of 2018.  The more detailed turn bullish however was a series of hammer-like candles in late January and early February 2019. ...
04.16.19 10:46 PM - Comment(s)
This pair has been on sale for a long time and only recently been consolidating.  Another selloff is coming soon.

From a weekly perspective, NZDUSD has been consolidating between .67 and .69 starting in late 2018.  A closer look on the daily chart details a symmetrical triangle whose apex i...

04.10.19 10:38 PM - Comment(s)