USDTRY bullish triggers seen. 1.9517 initial target.

Yesterday’s 2nd positive daily performance in a row took USDTRY
through the 21 day moving average. The market has been
fluctuating around that point for almost a month but this time
the bullish break has been confirmed with a positive crossover
in strength indicators (RSI) - through the moving average and a
trend of lower reading highs. Potential now for 1.9517 as
minimum target.

CABLE shows Marabuzo gains

Once again the Marabuzo line has shown its relevance in providing trend recognition and levels that will hold corrective moves.
The chart below shows the rise in CABLE from this month's low. Steady gains from the bottom of the Keltner channel to the top but the 2 Marabuzo lines stand out, especially August 2nd where the pullback 3 days later held that point exactly.
Do you use Marabuzo lines as a tool for your trading? If not, why not?

EURSEK - Great example of Marabuzo lines

To my mind the usefulness of Marabuzo lines is undoubted but its good to emphasis the point every now and again.
Below is a chart covering the rise in EURSEK over the last 2 weeks. Obviously the rejection of the lower end of the Keltner channel was the 1st sign of demand but since the upside began there have been two perfect example of the Marabuzo line catching profit taking and acting as a platform for the trend to continue.
Are using this indicator in your trading yet?

EURSEK - Marabuzo Line Dominates

Take a look at the chart below to see the relevance of the Marabuzo line created by the strong gains from last Friday.
Despite some huge volatility in this cross the line, 8.6700, is holding on a closing basis.
There's no confirmation yet but it is likely that a platform for higher levels is being built. Look for close above 8.7400 to indicate this.

EURGBP remains dominated by Marabuzo line

Not a tremendous amount of signals jumping out at us this morning despite the strong moves seen during last week.
Looking for lower levels in EURUSD, CABLE, Bunds and Equities though.
EURGBP is a tough one. Conflicting signals as the Marabuzo line created 5 weeks ago is basing the downside on a weekly closing basis. But while I would normally expect this point to have acted as a platform for demand there has been a distinct lack of follow through.

Take a look at the chart below - any thoughts?

Hammering Bund Bears

Trading in the early part of this week saw the strong decline from May's high extend to more than 5 1/2 points.
These lows, outside the Keltner channel, were sharply rejected Tuesday with that price action forming a Bullish Hammer pattern on daily candle charts. This has led to a significant rally (150-tics from the low - almost 100 from Tuesday's close).
Interestingly there is the strong possibility that Friday's close will confirm the formation of the same Bullish Hammer pattern on weekly candle charts.
Will we see the same impact? If so there's potential for 144.88 or even 145.51 (see charts below).
Have a great weekend.

Marabuzo Line supports GBPUSD

Interesting Marabuzo line created last Thursday comes in at 1.5506 and the 3 trading days since have seen prices supported by that point.
Last week's highs haven't been tested and prices are showing a lack of clear sentiment at this point.
However with the Keltner channel mildly positive and support also provided by the 13 day ema, this Marabuzo line could become even more significant in the coming days.