Bruce Powers, CMT, Author at Forex Alchemy

Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer

Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer Long-term bullish setup Short-term bullish setup...

Posted On 16 Nov 2017

, By Bruce Powers, CMT

USD/JPY reaches low that could lead to rally

Summary USD/JPY reached previous significant support zone and bounced intraday Potential reversal day forms on Friday as a bullish Hammer candle...

Posted On 13 Aug 2017

, By Bruce Powers, CMT

TASI targets higher prices following breakout of bull pennant

The Tadawul All Share Index (TASI) bull trend is preparing for its next move higher following a pull back towards support. Support can be...

Posted On 07 Aug 2017

, By Bruce Powers, CMT

Bullish trend reversal triggered in Canadian dollar

Last week the USD/CAD currency pair triggered a bullish trend reversal as it rose above the prior week’s high and closed above it on a weekly...

Posted On 07 Aug 2017

, By Bruce Powers, CMT

GBP/CHF: Short-term weakness should be followed by resumption of bull trend

The larger pattern in the GBP/CHF remains bullish given the following: Decisive breakout of Head and Shoulders Bottom and also breakout above the...

Posted On 15 May 2017

, By Bruce Powers, CMT

Technical Update for Oil: Brent and WTI

Highlights: Brent Crude Brent has been progressing upwards in an ascending trend channel for a number of months Last week it broke down sharply...

Posted On 12 Mar 2017

, By Bruce Powers, CMT

Uptrend in Silver (XAG/USD) continues to strengthen

Spot silver (XAG/USD) closed strong last week (17.93), near the high of the week (18.00), as it continues to push up against the top trend line...

Posted On 12 Feb 2017

, By Bruce Powers, CMT

Bullish case for GBP/JPY

Looking back in time we see that the GBPJPY moved into a 16-month downtrend following the 195.87 peak reached in June 2015. Support was...

Posted On 10 Feb 2017

, By Bruce Powers, CMT

US Dollar – The Big Picture

The U.S. dollar index (DXY) continues to strengthen following very positive long-term bullish price behavior. Although retracements will be seen...

Posted On 05 Jan 2017

, By Bruce Powers, CMT

Gold due for a bounce, but remains in long-term bearish trend

Spot gold (XAU/USD) remains in a long-term downtrend following a test of resistance at the long-term downtrend line over multiple weeks from July...

Posted On 26 Dec 2016

, By Bruce Powers, CMT

Brent crude in second leg up, targets higher prices

Last January Brent Crude completed an 81.4% correction off the record high of $146.08 reached in 2008 when it found a low at $27.13. Since then...

Posted On 22 Dec 2016

, By Bruce Powers, CMT

USD/CNY surges following China’s devaluation

Following China’s devaluation on Tuesday of the yuan, the U.S. dollar/Chinese yuan currency pair (USD/CNY) has surged, reaching as high as 6.4485...

Posted On 12 Aug 2015

, By Bruce Powers, CMT

Gold points lower as bearish descending triangle triggered

There has now been a clear trigger of a bearish descending triangle formation in Gold (XAU/USD), as can be seen in the monthly chart below....

Posted On 20 Jul 2015

, By Bruce Powers, CMT

Brent Crude Oil breaks out of bearish wedge

Brent Crude broke down from a bearish rising wedge formation several weeks ago, trading relatively sideways thereafter, until the tail end of...

Posted On 07 Jul 2015

, By Bruce Powers, CMT

Brent Crude looks to be heading higher from here

Brent Crude looks to have started a second leg up off the January bottom of 45.22, indicating Brent has a good chance of heading higher from...

Posted On 08 Apr 2015

, By Bruce Powers, CMT

Gold reaches potential support zone

Gold (XAU/USD) declined as much as 6.9% recently, after hitting a swing high of 1,307.6 three weeks ago. That high was right in the area of the...

Posted On 15 Feb 2015

, By Bruce Powers, CMT

Technical patterns on Gold

As discussed in our last analysis on gold from January 4, a bearish AB=CD pattern was forming with a 100% D leg completion at 1,273.9. That price...

Posted On 21 Jan 2015

, By Bruce Powers, CMT

Technical update: Gold looks ready to go higher from here

The big picture in Gold hasn’t changed much over the past month. For approximately nine weeks now Gold has been consolidating around prior...

Posted On 06 Jan 2015

, By Bruce Powers, CMT

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