DonValdez08

DonValdez08

Oi Blokes and Sheilas! Its the start of a new trading week and hopes high for the bears. Looks like a dead end on sight and the bulls finally ran out of steam. Price might retrace to 50-61.8 level around 1.11100-1.11500. Cheers!

DonValdez08

Yesterday's movement was absurd considering the price shoot 145 pips before US market opened. Now looking at the bearish pitchfork on the chart, yesterday's action could be a bull trap and maybe too late for buyers to enter the market. EXTREME CAUTION IS ADVISED FOR THE BULLS.

DonValdez08

SOROS RAISES HIS BEARISH BET AGAINST THE S&P 500, CUTS GOLD "In a recent 13F filing, SOROS FUND MANAGEMENT increased its PUT OPTIONS to more than 4 millions shares, more than 90% increase over the position reported three months ago." Source: www.barrons.com

DonValdez08

All my bearish patterns has been invalidated. Will let the dust clear first but i think the psychological 1.13 handle will hold after 110 pips movement ahead of US opening.

DonValdez08

Watchout for the support channel and If the market will respect it we should see a bounce towards 96-97 area. Hence, sell on rallies against the $Dollar.

DonValdez08

Last Friday, core retail sales disappoint with a result of -0.3% vs forecast of 0.2%, led to a spike in price and hit a high of 1.12200 before settling back to 1.11600 level as the US trading day progressed. The price action suggest that a whipsaw and fakey pattern occurred. Which means sellers could be well positioned at 1.12000 level ahead of the FOMC minutes...

DonValdez08

same pattern on my #EURUSD chart. Enter LONG @ 1322 area. #FX #FOREX

DonValdez08

If price will retrace in the coming days target should be on the 1.10000 area where CD leg will be completed. Upon which, enter BUY position in D area and price should move back upwards.

DonValdez08

Price retreated to pre-NFP last Friday. 11.500 range is a critical level as you can see in the Pitchfork down trend. Failed to move above this resistance will lead to a pullback.

DonValdez08

bearish pitchfork in play

DonValdez08

DXY and EUR clearly shows the channels are intact on the daily chart, new high for DXY and low for EUR could be realized this month. Likewise, possible hint on rate increase on next week FOMC minutes (Aug 17) and Jackson Hole Symposium on the 26th & 27th after strong NFP data for 2 consecutive months.

DonValdez08

Yesterday's price action produced a bearish engulfing on the daily chart. This also confirms the bearish gartley pattern published earlier and potential move towards 1.1000 area. A strong NFP tomorrow will push it down while a weak report will invalidate this SHORT setup.

DonValdez08

I've plotted XABCD post BREXIT vote. It seems bearish gartley pattern is complete and ripe for a major move downward.

DonValdez08

as long as 1.12000 resistance is intact we might see a correction next week to 1.10500 area