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USDCAD Analysis for December 2018
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USDCAD meets a strong resistance area around 1.34. If it reverse the current direction it might target 1.28, but if it broke to the upside it might move toward 1.38 as you can see at chart no.2
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NZDUSD almost touched 0.6900
I really like NZDUSD behavior. Each time it break a Flag or Pennant it gets higher. target is done :)
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A good setup... SP500 price candles outside Bands + it touch the round number 2750... target around 2700
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I don't like what I see on the Dow chart. There is a lot of bearish signals their.
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Price candles now move under the 50 - 100 & 200 simple moving average.
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There is a clear negative divergence between the Dow peaks and the 10 20 - 40 80 & 160 daily pure momentum.
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Pure momentum now is bearish.
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Price candles broke the lower boundary of its one year rising channel classic chart pattern.
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I think the market is gathering its strength to break the strong support area between 24000 & 23000 points. After that it might visit the 22000 then the 21000 points.
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I might be wrong, so I hope that my money management will protect me.
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Muhammd Al Bermaui, CMT
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This video explain why I think the Dow Jones is bearish and ready to move to the downside.
I don't like what I see on the Dow chart. There is a lot of bearish signals their.
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Price candles now move under the 50 - 100 & 200 simple moving average.
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There is a clear negative divergence between the Dow peaks and the 10 20 - 40 80 & 160 daily pure momentum.
.
Pure momentum now is bearish.
.
Price candles broke the lower boundary of its one year rising channel classic chart pattern.
.
I think the market is gathering its strength to break the strong support area between 24000 & 23000 points. After that it might visit the 22000 then the 21000 points.
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I might be wrong, so I hope that my money management will protect me.
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Muhammd Al Bermaui, CMT
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Bitcoin candles move inside a clear Wedge with low volatility.
A strong support around $3000.
If it break to the upside we might see $4500.
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- If it break to the downside we might see $3000 then $2500.
USDJPY ANALYSIS
On the first chart USDJPY move inside a symmetrical triangle waiting for a break out.
Primary trend is Bullish. So, break out could be to the upside.
On the second weekly chart of USDJPY we can see that if price move to the upside then we have a target of 118 yen, but if it moved to the downside the target will be 108.
Primary trend is bullish on the weekly chart too, which increase the probability for an upside breakout.