BITCOIN REACHING KEY RESISTANCE...BITCOIN is fastly approaching the 11,600 barriers where price found resistance before in the past.
This could offer a potential short-term shorting opportunity on the CFD equivalent. If the price rejects this
key level on the daily timeframe we can the look for short opportunities on our lower timeframe back
into the key highs. If price breaks and close above the key zone our idea will become invalid.
Blueberrymarkets
OIL SWING TRADES IN PLAYWe are currently short WTI OIL with price recently testing the key daily resistance lows.
Price formed a bearish pin candle off the resistance level, we have gone short with 2 trades.
1st target is 1:1 reward to risk, 2nd target is the key daily highs. Stops will be moved once the
1st target is hit.
GBPCAD AT MAJOR DEMAND ZONEWe are keeping our eye on GBPCAD as the price is at a major demand zone. GBP was one of the strongest currencies
last week and CAD the weakest despite being one of the best performers against the USD. That being said
price formed a bullish engulfing candle off the major demand zone where we could see the price rise into the key structure of
1.6994 before moving higher.
VIDEO ANALYSIS: EURUSD KEY SUPPLY AND DEMAND ZONES In this video update, we take a look at EURUSD and USD Index to continue looking for the USD weakness.
Price on the USD Index has recently tested 96.00 which could see some buyers step back in short-term into
the previous structure lows. EURUSD has broken higher and is heading towards a key supply zone where we
could see price retrace into the key highs before going long.
VIDEO ANALYSIS: S&P500 AT ALL TIME HIGHSIn this video update, we discuss the S&P500 in more details and what will
happen to market sentiment if price bounces or breaks. We believe if price bounces
we could return to a risk-off the sentiment with safe haven currencies benefitting.
If price breaks above we could see a significant move higher again.
USDNOK TO FALL ON HIGHER OIL PRICESWe recently discussed a long opportunity on OIL and as prices push higher we
could look to buy the Norwegian Krona. The USDNOK has formed a lower low on
the daily timeframe and could head towards the key weekly demand zone.
We will be looking for retracements into key resistance zone for short opportunities.
S&P500 BREAK OR BOUNCE?We are looking for the S&P500 to run up into the key resistance of 2950 before asking ourselves the question,
break or bounce?
If price breaks higher we can see the stock markets moving considerably higher in the near future however if we
see a bearish candle at the highs we could see a similar fall to what we have seen recently. This zone will be
key for trading opportunities...
FED DOVISH TONE PRICED IN...WHAT WILL HAPPEN TO THE USD?In this video update, we discuss the two scenarios ahead of this meeting and what could
happen if the Fed discuss further cuts in the future or if they downplay the need to cut rates going forward.
Inflationary data suggest a cut is likely but will FED chair Powell want to open the flood gates for the USD bears.
We are not so sure...
USD INDEX HOLDING AT 97.60The USD Index is currently testing the key double top neckline and 38.2 fib. We expected
the price to test reject this zone from a technical point of view and if the daily chart
closes below this level we could see a continued sell-off. However, the FOMC is set to
announce rates and all eyes will be on the Fed's next steps. If they are dovish and mention
more than one rate cut through 2019 then we could expect a large sell-off.
VIDEO ANALYSIS: NZDCAD SWING TRADING OPPORTUNITYIn this video, we take a look at NZDCAD as price rejects the key demand zone.
NZDUSD is currently at support and despite the recent USD strength is holding at the level.
USDCAD is trading back above 1.3400 highlighting the weakness in the Canadian dollar.
Looking to this chart we could see a swing trading opportunity from the current levels
to the key resistance.
EURAUD BREAKS HIGHER...TRADE STOPPEDTechnically EURAUD was at a resistance level and price rejected forming an inside pin candle. We looked
for a mean reversion trade here back into the daily highs before seeing an impulse higher. Unfortunately,
the Aussie has continued to weaken into today's session also stopping us out of our position.
With the CoT reports highlighted a 106% rise in short contracts, more upside looks likely here.
VIDEO ANALYSIS: SWISS FRANC TRADING OPPORTUNITIESIn this video, we highlight the potential reversal to come to the Swiss Franc and what
we need to see in order to execute our bias. The Swiss Franc has been the strongest
currency of late however a large majority of the CHF pairs are at key demand zones.
The CoT Report shows long contracts decreasing and short contracts increasing.
This could lead to a reversal.
RETAIL SALES REVIVE THE USDYesterday we spoke about the USD remaining bearish and despite our overall view remaining the same,
the retail sales data has driven the USD Index back above the key 97.30 resistance. We may see another
rally back into the $98.00 highs where price could form a triple top pattern before breaking lower.
The retail sales for the month of may recorded an increase from 0.3% to 0.5% from the previous month.
This data alone has increased the USD across the board.
USD REMAINS BEARISHLooking at the DXY price is approaching the key lows around 97.30. If price tests this
area we could see some weakness re-enter the market. Recently the USD has shrugged
off recent poor data showing some buyers are still willing to prop the USD up.
However, we don't expect this to last as long as price can reject the key lows.
VIDEO ANALYSIS: EURAUD TO FALL AGAIN?In this video update, we take a look at EURAUD as the price approaches a key resistance level.
Previously in the past, the market has sold off aggressively here as sellers re-emerge above the
1.6330 level. If price prints a daily bearish close we can look for short opportunities here.
EURCHF REMAINS RANGEBOUNDEURCHF has recently rejected the range lows and looks to continue within the range.
If price heads back towards the range highs we can look for long opportunities
on the lower timeframes. We will be looking for long opportunities on the 4hr timeframe
in line with the weekly timeframe. A lower USD price could help push the EURO
significantly higher.
VIDEO ANALYSIS: AUDCHF SWING TRADING OPPORTUNITYIn this video update, we take a look at AUDCHF as the price is back at a key demand zone.
The 4hr timeframe is highlighting a potential double bottom pattern forming. If the price
forms a higher high, the pattern will be complete and we could expect the market to
move higher.