@dayomabinuola, Author at FaithMight

November 1, 2018February 24, 2020

Nikkei About To Begin A Bullish Trend

October was not too good for Nikkei. The stocks began a downtrend moving over 3000 points. That’s a big loss for the stocks in $NKY. The highest level $NKY reached in 2018 was at 24372. This level was reached in the early days of October where RSI showed us an overbought region. This gave rise to a reversal. For the most part, the $NKY, in 2018, is dominated by sideways movement on the daily time frame. Having been oversold from the downtrend in the latter days of October, price was at 21067 level. The last time price got to 21067 was in March 2018.

The Senkou Span from Ichimoku shows a downtrend future, but has yet to show a reversal signal. RSI shows an oversold region at 21067. Price of $NKY already touched the lower Bollinger band line thereby leading to a bounce upward. Using the price movement on the trendlines, price already broke out, which indicates a bullish trend is about to begin. This bullish movement might touch the middle line of the band which is at level 22821. From now, price of $NKY might generate over 1000 points from 21700 to 22821.

October 30, 2018February 24, 2020

FTSE 100 Awaiting A Breakout Confirmation

The movement of $FTSE 100 has been between 7900 and 6900 this year. During this time, $FTSE 100 reached an all- time high in May at 7900. Several stocks in the US this year reached an all-time high. In the first quarter of the year, more sellers traded $FTSE 100. Towards the end of the first quarter, a breakout occurred which made price remain bullish till June. After this, a long-term range began. Later in August, a breakout downward occurred on the daily chart. Price reached 7290 and bounced upwards to touch the middle Bollinger bands line. Price went further down and broke out the support level, forming a new support level at 6924.

FTSE CHART

Recently, RSI showed oversold when price reached that new support level at 6924. Since August, when price of $FTSE 100 comfortably closed below in the lower section of the Bollinger bands, price never closed in the upper band. An expectation of about 200 pips upward might be realised on $FTSE 100 trades soon. Indications from the trendlines show a breakout already occurred while price remains in a range. The future resistance level is expected at 7277. Ichimoku has not shown a trace of a reversal but the bull gangs might push the price of $FTSE 100 upwards.

October 26, 2018

Overbought Positions, Yet USDJPY Price Remains Bullish

A major Bullish trend began in March 2018. About 800 pips have moved in favour of the USD pushing the $USDJY higher. The USD remains quite strong in 2018. There has been a major break in the uptrend in May, price only moved downwards from 111.149 to 108.412 before the uptrend continued to new highs at 114.488.

Price action disobeyed the rules of RSI: price has shown overbought positions three times between May and October, and each time the upward movement continued. Could this be the monetary policies made this year, that has favoured the USD? Price is around 112.631 hoping to touch 114.30, which is on the upper band line. Price might begin a downtrend soon but it may touch the upper Bollinger band line before a trace of downtrend. Ichimoku on the daily chart shows no trace of downtrend. We might be expecting 200 pips movement upward.

October 26, 2018

AUDUSD To Gain More Pips Despite A Long Term Downtrend

It has been a long term downtrend for the $AUDUSD since the beginning of the year. The downtrend is characterized with several lower highs and lower lows. In the last two months, the upward and downward movement of $AUDUSD have been between 300 pips. Price movement tends downwards maintaining the lower part of the Bollinger bands. The USD without argument this year has gained so much against the AUD.

The RSI has not touched the overbought position since January. Since then, price keeps moving downward without ever reaching the overbought or oversold regions. A breakout occurred off the trendlines and price is yet to touch the Bollinger band middle line. It is about 200 pips reaching this point. The future of Ichimoku shows a long downtrend and no trace of a reversal. The last time $AUDUSD maintained a bullish trend was between December 2017 and January 2018. Ever since a reversal occurred, price of $AUDUSD has been on a downtrend.

October 23, 2018

Hewlett Packard Might Gain Momentum Despite Trade Wars

This year has been a smooth year for $HPQ holding on to a bullish trend until the first week of this month when a sharp bearish movement started. This price movement touched the resistance level and couldn’t stay above it. Price retraced itself downwards touching the middle band line, further breaking the line until price touched the lower band line. Over one week, the price of $HPQ has been in a range hoping for a breakout. $HPQ has decided to boost their presence in the printing market through innovations which could drive the share price higher.

RSI undoubtedly was overbought before the bearish movement. Now it has shown an oversold position again preparing for a bullish movement. Price is at level 23.33 and could move higher to 26.30, still maintaining the resistance level. The all-time high price in $HPQ is at the highest resistance level. Price first touched this point in July 2000.

Source: HP Upgrades Sprocket To Boost Presence In Printing Market (NASDAQ)

October 23, 2018

Price Obeys USDCAD Bullish Movement At Resistance

The $USDCAD direction has an upward zigzag movement throughout this year. Price has been retesting on the resistance level several times this year. For the most part of 2018, price has been bullish. The USD obviously has been taming the strength of the CAD for some time. The highest price movement of $USDCAD this year has been at level 1.33419. The last time price touched this point was in June 2017. A bearish signal shows through the breakout in the trendlines, which tend to move downwards.

The Bollinger bands still holds price in the upper region of the bands. A reversal might happen anytime soon, which will make the CAD to gain more leading to a new trend downwards. Since RSI shows no trace of price being overbought, price has been able to touch the upper part of the band before touching the middle band line. Since a breakout occurred from the trendlines, price is meant to touch the lower band line in the coming weeks. As I expect bearish movement to start, this is dependent on sellers of the $USDCAD currency pair. The price of $USDCAD might reach 1.2840.

Given that price is still 500 pips away from there, this breakout to the downside could also be a fakeout.

October 18, 2018May 24, 2019

Microsoft Price Couldn’t Break The Support Level

The unfortunate death of Paul Allen prompts a look at $MSFT. Allen’s $MSFT has enjoyed a smooth ride on a bullish flow this year reaching an all-time high in the stock market. The bullish movement brought about multiple higher lows in price movement. Companies like Apple and Amazon have had a good year so far for long-term investors. Price of $MSFT has reached overbought positions twice this year on the weekly chart. Instead of a change of trend downwards, price continued higher to the 116.00 level before a downward trend began. This move couldn’t break the support level. Price rallied off the support level.

A bullish breakout occurred from the trendlines, which might be a good opportunity to buy $MSFT. RSI has not showed an oversold position on the weekly chart. Ever since price broke out the 105.12 level, price has never gone below this level. The future of Ichimoku also shows a bullish future. The bullish trend is expected to continue.

Source: Microsoft Co-Founder Paul Allen Dies of Cancer At Age 65(CNBC)

October 18, 2018

Price Of Gold May Rise

The price of Gold went down mid-April after several lower highs. Price was able to break the support level in August that resulted in a range in price. A look on the RSI indicates an oversold position since August which implies an upward movement of $XAU price. The last time price went this low to 1175.00 was in December 2016. Price of $XAU still maintains the lower section of the band despite indicators showing a reversal higher. Three weeks ago, price began an upward movement up until now.

The trendlines A and B have a breakout higher at level 1190.2. Price of $XAU is expected to touch the resistance level at 1280.71. This should occur in the coming weeks. The $XAU price movement was able to reach a ten-week high this week. A breakout of the resistance level could bring about a continuation higher in $XAU for a while longer. Investments in $XAU at this point could be a profiting one for buyers.

October 16, 2018October 16, 2018

USDCHF Touches Resistance Level Again

After a long range in price movement from May to August, price of $USDCHF decided to go downwards in mid-August. This downward movement was about 400pips. The downward trend came to an end in September 21st when price consolidated. At this point, more sellers of the $USDCHF are preparing for another profit gain. Price is expected to go downwards to the 0.9765 level. This movement should reach about 250 pips..

Though price is presently in range on the daily time frame, $USDCHF has broken out the trendline indicating a reversal in favour of the CHF. With the RSI, price has not been overbought. Indicators shows price is ready for a downward movement. Price ranges on the upper part of the band, awaiting a reversal. There are very few $USDCHF buyers presently in the market.
SUMMARY

October 15, 2018October 15, 2018

EURUSD Begins A Bullish Movement

$EURUSD price movement has not been volatile for few months. For about 5 months, price has been ranging between 1.1811 and 1.1314. This is range about 500 pips. $EURUSD might be preparing for a major bullish movement. A bullish movement started in August and touched the resistance level before a change of trend downward. After this bearish movement, price rallied off the support level. At this point a head and 2 shoulders have evolved. This signals another move to the downside.

Trendlines A and B obviously have a breakout upward. If this breakout is not a fake-out, then $EURUSD might generate at least 250 pips to 1.1770. A breakout of the resistance level might be a major bullish movement. Price on the RSI already has repeatedly been oversold in June and August. This might be a good time for traders to go long on the $EURUSD.