riffster21

riffster21 Jun 8, 2023

Everyone is watching the shorter-term wedge on Ucad. Some are betting on the bounce and others on a breakdown to lower prices. The safer big money bet is waiting for long-term support and building a position trade to hold for weeks, possibly months. Nice returns with less stress. More beach time. Additional Note: if you are trading a more significant equity...

riffster21 Mar 15, 2021

I don't post very often, but I think we are nearing a critical support level for JPY pairs. True tops and bottoms don't happen very often in Forex. However, I feel we are getting close to a true JPY bottom. The JPY will likely make one more push down, then spend the next few months recovering. The GBPJPY, CADJPY, and USDJPY are over-extended and need a...

riffster21 Dec 14, 2020

AUD over-extended on the 4H time frame, but most of the AUD pair held their ground. We should see another strong cycle up on AUD, followed by a sharp correction. If you've been looking for a top on AU, it should happen this week. The swing retrace should be 100-200 pips.

riffster21 Oct 24, 2020

The JPY is in the middle of a huge flag and building for a massive breakout by the end of next week. The JPY pairs should make a huge move this week. My personal trade of the week is the GBPJPY. The GBPJPY has a massive channel on the 4 Hour or Daily (see chart below). I will buy a bounce off of support. If support fails, I might sell, but I'll wait for strong...

riffster21 Oct 24, 2020

The CAD has a slow-n-steady channel to the upside. We are coming off the bottom of the channel, so I would expect strength in the short term. Pair the CAD with a weaker currency and trade accordingly... or pair with another strong currency and trade the range. Expect a long term bias to the upside with measurable consolidations. If you want access to the...

riffster21 Oct 24, 2020

The GBP (or Mr. Toads wild ride) has been choppy and extremely volatile, but... there is a trend underneath all of that madness. The GBP is slowly grinding to the upside. There is a pretty clean ascending channel on the 4 Hour (see chart below). Who knows what the GBP will do in the short term, but the last push to the downside is overextended and without...

riffster21 Oct 24, 2020

Similar to the USD, the EUR has formed an ascending channel and is in the middle of the channel. The recent move up was pretty strong but without consolidation. I would expect short term weakness followed by another strong push to the upside. Expect the EUR to be choppy with an overall bias to the upside. If you want access to the Currency Matrix used on this...

riffster21 Oct 24, 2020

The AUD has been a bit of a mixed bag recently and the USD volatility hasn't helped. The AUD had 2 strong sell-offs and is trying to find balance again. This recent move to the upside is well consolidated, but it's a pretty sharp move. We could see another short term sell-off before reaching new highs. The AUD has an over-all bearish bias. Expect the sell-offs...

riffster21 Oct 24, 2020

A lot of traders were caught off-guard by the recent USD volatility and we are likely to have a lot more over the next couple of weeks. The USD is currently sitting in the middle of a 4 Hour channel and has tons of room to run Long and Short. However, this recent move seems to be holding below the 50 level suggesting weakness, but we are in an ascending channel so...

riffster21 Sep 15, 2020

EUR has been in an upward expanding bullish pattern since Sept 3. It looks like it might need a consolidation. Trying to push down now. We will probably know by the end of the London session.

riffster21 Updated  Sep 14, 2020

The EUR is biased to the upside, but it quickly retreats to the 50 area. Pushes are short-lived. The EURUSD is mostly being driven by the USD right now. A break above resistance should get the EURUSD to 1.19200 area. A break below support hasn't had much impact on the EURUSD pair but will move other EUR pairs.

riffster21 Sep 14, 2020

After the massive Friday sell-off, everyone is looking for the next push down. The GBP is still above support. The GBPUSD is bouncing around long term up trend resistance and previous support. If it holds above, expect higher prices. A hold below could trigger the next sell-off. GBPUSD is at a pivitel price point right now.

riffster21 Sep 14, 2020

The USD is weak and trying to push below support. However, it's also oversold a bit. We could see one more quick sell-off followed by a retracement (i.e. like the last several days).

riffster21 Updated  Sep 10, 2020

The JPY pairs have been big movers lately. The USDJPY not so much because both currencies are gaining value = sideways chop. If the JPY gets above our trend line, more downside for JPY pairs, but... it could be a great bouncing place too. This is our pivot area for JPY pairs. I'll update when we get close to that line.

riffster21 Sep 10, 2020

GBP has been weaker than the last 2 Star Wars films, but it was due for a correction. How got that correction this morning, but is it enough? I'm bearish on the GBP, but whenever I see this H&S pattern it usually sends the pair up (or down if the pattern is on the top, this one is inverted). We could see more corrections from the GBP pairs tonight. As I mentioned...

riffster21 Sep 10, 2020

USD pairs have been a mixed bag, but the dominant theme has been USD strength. With our short term trend line broken and retested to the upside, expect more USD strength tonight. DXY could form a double top. The USD continues to be a choppy ride until some of their long term price levels are tested or broken. I'm watching the GBPUSD tonight. One more good push...

riffster21 Updated  Mar 6, 2020

Hi all, The EURUSD has a Cypher (as many have pointed out), however, the final extension is a little off. The CD leg blew past the predicted end point. As Cyphers go, this one isn't horrible, but technically not correct. If the pattern holds, we should see a retracement near 1.1670ish. That would drop us back in the channel. We've seen the EU head-fake a breakout...

riffster21 Updated  Jan 18, 2018

Hi folks, The USD posted a double bottom on the Daily Currency Barometer. This DOES NOT mean a reversal for the USD pairs. Not unless key price levels are breached. Look for consolidation patterns before the next push (USD sell-off). However, if key price levels fail, the USD Bulls could have their day for a bit. The only thing we know for sure at this moment:...