US Dollars Hitting 81.80 what’s next!?
Dollars US looking for resistance, in exact area I was expect. This is also,my reversal point. But…look on how thing are going now, buyers having lot’s of momentum, and we could see US Dollars jump to 82.00, before any retracement.
It will or not happen, doesn’t really matter, since it will retrace soon, and then go back to 81.700 or 82.00 area. depending if we hit or not 82.00 points.
On his 4hours chart, we can see how thing go for buyers and sellers.
At first, we was in Bullish trend that bring the US dollars to 81.600 points.
Then, we start to see some resistance, and buyers fail to go to news highs by creating triple tops area.
Now, Sellers break the bullish trend, But there’s no confirmation for Bearish trend move so far.
What’s Next? Well…watch for 50% retrancement, to my red area….if there’s no retracement, that was a head fake, and we are going to 82.00 area.
1. Oil are in Down Trend. What make, Up trend more risky. And is why this trade especially, are high risk.
2. After hitting a natural resistance at 97.00 on Oil. Market start to consolidate. So far we don’t see any strong buyers, but it should come very soon. If it doesn’t, seller may break the 97.00 resistance and then create news highs.
3, There’s are many resistance, you can see in this area. The fact, sellers fail to close under 97.00, and create an Inverted H&S pattern. It make this trade interesting.
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Stock Market Weekly Update
Some traders get little be to exited about this last drop. What is normal, since we see this kind on volatility very rarely since FED start print money more and more to support stock market.
But this is not the start of the end…as far, not for me…..this is only a continuation of stock market rally,
Let me show you why?…is simple.
Stock Market Rally? Look like!
on this weekly chart, we can see the bull market. Breaking bull market is very hard…and it demand more than one day sellers drop. Is why. It may be a Start of moving to Break Bull market, but we need more confirmation than 2 weeks of trading.
Let’s go back on this chart…what we can see?
A very clear patter on Bull/Bullish trend. Every time when we touch the “Green Trend Line”, we go back up, and create news highs.
For those who are looking to take this trade, to be more safe…watch how market will react on Down Jones Industrials at 1 955.00 points. because we could see sellers coming back, to retest last lows.,
Chart for $SP500 stock market.