GAFNN.com Blog

I recommended a buy on Natural Gas it failed to make a bearish breakout on the yearly profile and i now expect it to trade back to the zonetrader pivot at 2.877. Hold onto the long position, if flat look to buy selloffs.

The eurusd is attempting to make a bearish breakout on the year and the quarter. Look for sells on short to medium term charts. April jobs report came out this a.m. it was worse then expected. The expected was 170k and the number was 115k. We look for a deviation of 35k above or below the expected number. This suggest the u.s. economy is slowing. Be careful in this market this may be manipulation by large speculators, commercials, or banks to create buy opportunities for themselves.

The pair is back to trade inside the correctional channel shown in the image below, while Stochastic puts negative pressure on price

The pair closed yesterday above the downside correctional channel’s resistance shown below, which keeps the chances for the pair valid to achieve yesterday’s proposed bullishness, especially that the pair is approaching oversold areas.

Trading stabilized above the resistance for the descending correctional channel shown below

The euro succeeded in breaching the critical resistance mentioned yesterday near 1.4440 activating the bullish pattern shown below.

The Euro found good support at 38.2% Fibonacci at 1.4155 to rebound to the upside supported by the positivity on Stochastic which is starting to gradually decline, reaching overbought areas.

The Euro approached the first target awaited yesterday around 1.4455 and reversed to the downside after recording the high of 1.4440 affected by the negativity on Stochastic.

The Euro stabilized above 1.4325, the neckline for the bullish pattern shown below.

The Euro ended yesterday below 1.4325 areas, which keeps the suggested weekly scenario valid supported by the negativity on Stochastic.