Back in Jan I posted an idea for U/C bears to watch on radar for longer term. What I had posted was to watch for a lower high after a double top & lower low. Well “2-1/2 months” later U/C may be in that position up near a 78.6 Fib. Keep in mind that price has respected the longer term 50% fib from the 2016 high (in white circle) so if this current lower high holds its on a longer term outlook. Also look at a weekly chart and you’ll see this pair is in a long term correction for approx 1 year as it shows overlapping sideways price action so its bound to break out at some point in time.

April started out basically at the M-M3 so M-M1 could be a target for April.
This level could also be a lower high scenario at the 78.6 fib in white.
Watch for the major support to be taken out and that would pull the 21-55 macd below ‘0’ line to confirm the monthly stoch cycle.
If price heads up to the blue X then bulls could be the winner on a breakout should that occur and take out the 50% fib or top of range.

1 Hour:
Price is in the weekly profit zone.
A double top could be in place.
Trade plan shorting OB stoch cycles if bearish on U/C.
Watch for the 21-55 macd to fall below ‘0’ line to confirm a daily stoch cycle if the minor support is taken out with divergence in place.

If you’re a bear on U/C this could be a good zone to get short and hold it. Watch to see if oil rallies as well.

Lets see how it plays.


1 Hour

4 thoughts on “U/C Bears on Radar”

  1. peter A says:

    hi James,

    trust your day has ben great.

    I was trying to search and add u on skype, but guess what. I got almost 60 of your name here and couldn’t select which is yours as your picture is not displayed.

    I am on pibalviral, if you can kindly add me to yours


  2. Maryna Murray says:

    Hi James, I reckon the USA and CAD news tomorrow (Friday)can play a nice role on this pair.

  3. Brendon Davis says:

    Hi James , good to see your back or have you been busy working or make toooo much money 🙂

  4. James Mauro says:

    Peter you should be able to get to my media page by clicking on my name above and my skype should be there. Let me know coz I’ve tried sharing in the past, just curious if its there. Anyway its jtmauro1

    Maryna, hoping for hero or zero by NY open.

    Brendon, I haven’t gone anywhere but thnx. I’m always in the charts even when working out of the home using mobile MT4! I just switched to a few long term plans primarily to post here for readers to support with their longer term bias should they agree with my analysis. A lot of time & effort goes into posting and I’d do more if the audience was involved more & I knew it helped.

    Best of pips !

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