While the short - term
downtrend remains intact in the currency, a move above $ 2500 would trigger a new long - term buy signal.
The short - term
downtrends remain intact for now but the previously strong coins like Dash and Antshares continue to show bullish signs amid the broad correction.
In the chart above, we can see that all retraces higher to both horizontal resistance levels and the 21 day EMA were met with selling pressure as the dominant
downtrend remained intact.
Not exact matches
Then, we simply switch to trade in the same direction of that trend (or
remain heavily in cash in
downtrends).
Capex growth is recovering after two years of
downtrend, and the investment - to - GDP ratio
remains below previous cycle peaks.
The strong rally in Ethereum Classic is the move of the day so far, but all of the majors show signs of healing, although most if the coins
remain in short - term
downtrends.
There's no RBNZ meeting but data has taken a turn for the worse since the last policy meeting with inflation falling to the bottom of the RBNZ's target so the
downtrend for both currencies should
remain in tact.
Coffee prices are still trading under their 20 and 100 - day moving average as the trend is lower and the
downtrend line
remains intact as that will not be broken until the five week high is broken so keep a close eye on this market as we could be involved in next week's trade.
Ethereum Classic continues to be the weakest major short - term, trading in a steep
downtrend after falling below the long - term base formation near $ 13.50 The coin might
remain stuck in the long - term
downtrend so traders and investors should wait for some strength before entering new positions, despite the attractive price levels.
Nevertheless, each of the cryptos
remains in
downtrends awaiting further confirmation of strength that could lead to a sustainable progression higher.
The coin is still trading in a corrective
downtrend after the sideways drift today, and the short - term buy signal
remains intact.
Overall, on a technical basis, most cryptos
remain in clear
downtrends and are below their respective 200 - day moving averages, as well as being below their
downtrend lines.
I still think prices will crack the 3 % level in the weeks ahead so stay short & continue to place the proper stop loss as I still believe the risk / reward are in your favor as the longer - term
downtrend line
remains intact.
Although the S&P 500 is easily within striking distance of breaking out to a fresh 52 - week high any day now, the NASDAQ Composite
remains below pivotal resistance of its 50 - day moving average and stuck in a 2 - month
downtrend.
FXE (CurrencyShares Euro Trust)
remains in a strong
downtrend / sell signal but this portfolio is not shorting stocks so it
remains in cash on the FXE position.
While the technical indicators will show you exit signs on short term
downtrends, however you can
remain invested in that stock if the company is fundamentally strong.
We
remain bearish biased on this market and will continue watching for price action sell signals from resistance to rejoin the
downtrend as we can see the longer - term
downtrend is still clearly in effect and key support isn't seen until down near 1.2040 area.
Even though the multi-decade
downtrend in yields may have bottomed, equities that offer a yield component to their returns will
remain relevant for years to come.
Price and volume action
remains downtrend territory as well.
OEW analysis continues to indicate that the current
downtrend may have bottomed, but price action
remains choppy and hasn't given the all clear yet.
While the success of the break - out is not guaranteed, since the broader
downtrend is intact and volatile dips are still expected as part of the bottoming process, the coin is showing positive signs, and aggressive traders could
remain long here.
Although nobody is talking about bitcoin's risk - adjusted performance amid the latest
downtrend, the coin's fundamental outlook
remains remarkably steady when compared with the recent bull market.
Currently, the cryptocurrency
remains in a
downtrend, as both moving averages are falling and the price is still below them.
But still price
remains below the
downtrend trendline, and in order for FoldingCoin to move higher, it must break above it.
The index
remains stuck in a
downtrend, but the short - term MACD is in oversold territory, signaling a likely correction towards the dominant trendline.
Bitcoin Cash firmly
remains below the
downtrend line.
While resales in August
remained on the
downtrend relative to a year ago (falling 34.8 per cent), the annual decline was the smallest in three months.