Intraday Marabuzo work too - NOKSEK

Take a look at the 4 hourly chart below on NOKSEK.
The double top created by last week's high and Monday's top led to a sharp decline but this downside was held - on a closing basis, by the Marabuzo line created at 1.1156.
That point has acted as a platform for fresh buying although we need to see a close above 1.1212 (another Marabuzo line, although less strong for obvious reasons) to confirm a stronger move higher.

EURCZK - Gains Supported by Marabuzo lines

EURCZK has been in a steady uptrend of higher lows and higher highs since last September.

There have been some aggressive setbacks - most notably a strong bout of profit taking in the first full week of February -  but this month has seen the cross trade to the highest levels since last June.

There is no sign of this demand stalling and even on a shorter term basis the move from March's low has been supported by a key 13 day moving average and, the main point of this blog, by Marabuzo lines. These can clearly been on the chart.

Look for a move through 25.950 to confirm the next higher high with potential targets of 26.050 and 26.125.

USDCAD supported by Marabuzo lines

Interesting in USDCAD with 2 Marabuzo lines having an influence on current trading.
The background is dominated by the line drawn from half of the net gains from 8 weeks ago, 1.0138. This point has been tested in each of the last 3 weeks but without breaking on a weekly closing basis. Yesterday's sharp acceleration away from that point adds to its relevance.
And it is yesterday's powerful gains - the most aggressive of 2013 - that has formed the 2nd Marabuzo line.
This comes in at 1.0192 and has held the Asian setback. It isn't yet clear that a more severe test of the level won't be seen but likely that traders who missed yesterday's move will look for that point to put matters right.

Marabuzo line supports T-Notes

The relevance of a Marabuzo line can be seen from last week's price action in T-Notes.
Last week's move to new contract highs was the 4th positive week in succession. Because gains were exceptional a Marabuzo line could be drawn coming in at 132-14.
The move did leave the market over-extended and this,unsurprisingly, led to some profit taking this week. 132-14 could be expected to attract buyers and this is exactly what we've seen with the market reaching only 3 tics below before buying interest was renewed.
A net minor decline may have been posted on the week but the usefulness of Marabuzo lines can be clearly seen.