Disliked
gtt:
Well it may turn around this hour, but the last three hours have
been bearish.Ignored
Yep, if we did know every single turn of price action we wouldn't be around here, would we?
I can give list of reasons why we're not going up:
1. OPEC guys are comfortable with oil price, which causes USD depreciate against others including JPY.
2. We've a holiday week in US, traders are taking time off
3. We're under all the MA's starting from 5-5000
But it can go up because
1. USD/JPY needs to go 112 to finish up with EW counting before big guns shoot it down (So, GBP/JPY = USD/JPY * GBP/USD --> 228.50= 112.0 * 2.04 - if GBP spirals down or 2.05*112= around 229? )
2. We have a year end coming, so guys at wallstreet needs to have some positive things to show to their clients or get fired . ( A little better than their savings account?) I read somewhere 60+% of traders are not comfortable with shorting a stock, probably most of them are "underwater" because of DOW sliding down?
3. Aus is looking for upper 229-ish, Zoran took out some projection to 228.50 -maybe it already happened short of few pips
4. Gold is at it's 50EMA - if it holds(It should but not have to), AUD, NZD should hold and jump up to make new highs, which will bring up the carries along with. If oil is not gonna fall (OPEC guys) then CAD will strengthen again to keep up the carries.
Ok, mostly fundamental to go up, technically we are going down - Monthly,weekly, daily, 1h are all bearish right now, only 4H has some energy to go up except it's Stochs are pointing down. I believe you're around this thread long, so 15M strat is only to down now. I hope everything is clear now, safe trading