Technicals: Cable Indecisive Doji Cross
Eddie Tofpik | Apr 12, 2018 11:20
EURUSD
A fourth bullish white soldier and first recent close over the recent 50% fib at 1.2355…today we’re still above it but testing the support.
CABLE
An indecisive doji cross as the market tested up to the 2018 downtrend (currently 1.4215) and rejected it…for the moment.
EURGBP
Yet again the market tested and breached the important 38.2% fib at support 0.8708 but failed to close below it…we ended up yesterday with an indecisive spinning top pattern.
USDJPY
No follow on to the previous key reversal up…please note… key reversals are suspect in any yen crosses…however…please also be aware of the weekly key reversal up two weeks ago….we ended up yesterday with a bearish double and a first close below the mar-to-date downtrend (currently 107.04) though the significant fib band 106.68 – 106.55 once again supported the market.
AUSSIE DOLLAR
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An indecisive spinning top as the market once again shied away from the overhead resistance of the medium ma (currently 0.7790)…we’re still above the top of the recent trading band at 0.7730…so far.
NYMEX CRUDE FUTURES
The market pushed through the condensed overhead resistance 66.66 – 66.89 but closed in the midst of it…today we’ve started higher back over it.
FTSE FUTURES
An indecisive spinning top as the market was again affected and capped by the 2018 downtrend (currently 7192)…that’s happening again today so far.
DAX Futures
The 38.2% fib resistance at 12 428 mentioned recently had a sharper effect yesterday as it caused a bearish black crow down to the near term 61.8% fib support at 12 256…if this continues today then the nearby 50% fib at 12 151 may be under threat.
S&P FUTURES
A bearish harami with a close back below the key 50% fib at 2647…the market seems currently capped by the combined fib resistances 2663 and 2665 and supported by the long ma (currently 2599).
GILT FUTURES
An extensive bullish white soldier that filled in the recent upside gap…nevertheless…we still seem to have an overhang of resistance above the market based on two 50% fibs at 123.33 and 123.68…the medium ma (currently 123.39)…and the upper tine of the sep – dec 2017 schiff pitchfork (currently 123.43).
BUND FUTURES
No follow through yesterday to the previous day’s big key reversal down as we formed a bullish opening long white marubozo…we’re seemingly with a recent trading band 159.00 - 159.57…however…we also seem to be toppling over towards the comfort and proximity near the gradually descending middle tine of the sep – dec 2017 schiff pitchfork (currently 158.65)…it’s still using this as support.
U.S. BOND FUTURES
A bullish long shadowed candle that ended as a bullish engulfing pattern and halting just ahead of the recent high at 147.03…today we’re trying back towards the upside.
LME 3 MONTH COPPER
A new recent high but also a bearish harami with a follow on today…we closed yesterday right on the key 50% fib at 6909…today…we’re lower and back within the old dec 2017 – feb 2018 bearish andrews pitchfork…the current action might be regarded as a bearish tweezer top…but it’s too early to say yet.
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