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Blueberrymarkets

USD STRENGTH EVIDENTAs we can see from this USDCHF chart currently the USD strength is in play and we should expect this to continue as long as the data backs up the Federal Reserves plans to hike interest rates. We will be closely watching the data releases over the coming weeks. Keep an eye on GDP, CPI and Employment announcements as these will be key indicators to inflation targets. This will then ultimately affect the decisions to hike rates or not. Looking at this chart we can see the 4hr chart created the higher highs after double bottoming at the support zone we have talked about before. Expecting this market to head up to the key resistance of 1.0050 where the market will have to make a decision on direction.
Long
by BlueberryMarkets
EURUSD DOWNSIDE CONTINUATIONWith current situation with Brexit and Italy continuing, the EURO could be an interesting currency to keep an eye on. That paired with the USD strength economically and seasonally we could see further downside to come from this market. Looking at the chart technically, before we look for the short trades we need to see a clear close below the current structure lows at 1.1432. If we see that close below we could see a re-test of the 127.2 fib extension before seeing a retracement to the those structure lows where we will look for the short if the market conditions have been met.
Short
by BlueberryMarkets
BRENT CRUDE TO RETRACE FURTHER IN WEEKLY UPTRENDWe have already had some great shorts on Brent of the past few weeks and now we have just cleared out the support of $80.00 we can continue to look for the short positions. We have to be aware that the weekly chart is still in an uptrend and until its breaks the weekly lows of $70.34 we should be cautious in holding long term short positions. Looking at the chart we could see the BRENT CRUDE OIL market retracing down to the 38.2 fib and if so we could look for further short trades down to this point if the market on the 4hr timeframe can pullback into the key 4hr structure lows of $79.00.
TVC:UKOILShort
by BlueberryMarkets
CADJPY STILL HOLDING AT SUPPORT AHEAD OF BOC RATE DECISIONWe expect to see some movement on this pair this week due to the Bank of Canada Interest Rate Decision on Wednesday where they are forecasting a 25bp hike. This should lead to some investment into the Canadian Dollar however is the move already priced in? Looking at this chart technically it's at a weekly support level which it can't seem to break through at the minute and could be key to either seeing the market break or bounce at this point.If we see a break above the key structure highs we can look for CADJPY longs however if we sink and close below the support we could expect a deeper retracement of the weekly uptrend to the supporting trendline below. One to watch!
by BlueberryMarkets
GBPUSD DOWNSIDE CONTINUATION LIKELYLooking at the GBPUSD technically we can see that the market is clearly making lower lows and lower highs and the Daily timeframe confirms we are still in a downtrend with the potential for price to head down to the key support level of 1.2700. If the market can pullback to the key resistance of 1.3020 with 50.0% Fib confluence we can look for the continuation short with stops above key 4hr highs. Brexit still remains the threat here with Prime Minister May saying she has the deal 95% done however the Irish border remains an issue. This is likely to continue to cause an issue for a while and would expect the market to move lower.
Short
by BlueberryMarkets
INVERSE HEAD & SHOULDER- NZDCADCurrently NZDCAD -0.27% looks to be setting up with an Inverse Head & Shoulders Pattern. Typically when you see this form at the bottom of a downtrend like we are seeing now, we see a shift in trend. We know from the Commitment of Trader reports that commercial long contracts are now at the highest we have seen in a very long time giving us a fundamental confluence with this currency. Seeing bullish pattern combined with this information can work effectively and efficiently. If we see the market pullback into the left shoulder support zone we could look for long trades. Be careful with this market in particular as Wednesday we have the Bank of Canada interest rate decision where they have already discussed the potential for a rate increase which may now be priced in.
Long
by BlueberryMarkets
HK50 LONG OPPORTUNITYIndices globally have been in a downturn as the trade tensions between Trump and China heated up however should we expect some short term relief? The market works in trend and tends to bounce between support and resistance zones. The HK50 (Hang Seng) has reacted from the key weekly support of 25300.00. Looking left you can see how this level has been used significantly in the past and could find some buyers at least into the key resistance of 28500.00.
TVC:HSILong
by BlueberryMarkets
HK50 LONG FROM WEEKLY SUPPORTIndices globally have been in a downturn as the trade tensions between Trump and China heated up however should we expect some short term relief? The market works in trend and tends to bounce between support and resistance zones. The HK50 (Hang Seng) has reacted from the key weekly support of 25300.00. Looking left you can see how this level has been used significantly in the past and could find some buyers at least into the key resistance of 28500.00.
TVC:HSILong
by BlueberryMarkets
1
INVERSE HEAD & SHOULDERS _ NZDCADCurrently NZDCAD looks to be setting up with an Inverse Head & Shoulders Pattern. Typically when you see this form at the bottom of a downtrend like we are seeing now, we see a shift in trend. We know from the Commitment of Trader reports that commercial long contracts are now at the highest we have seen in a very long time giving us a fundamental confluence with this currency. Seeing bullish pattern combined with this information can work effectively and efficiently. If we see the market pullback into the left shoulder support zone we could look for long trades. Be careful with this market in particular as Wednesday we have the Bank of Canada interest rate decision where they have already discussed the potential for a rate increase which may now be priced in.
Long
by BlueberryMarkets
2
EURCHF TO PUSH LOWER. ITALY PUTTING PRESSURE ON THE EURO.EURCHF could be a key chart to watch in the coming weeks as the Italy situation continues to put pressures on the EURO, not only that the FED are looking to continue there plan to hike rates which will have a massive impact on the value of the EURUSD. If the Italy saga continues we may see a run to the CHF as it is know as the european safe haven. Technicals show we are at a key resistance level and could potentially move lower from this point as the 4hr chart is starting to cycle lower. The key support of 1.1200 will be likely targets.
Short
by BlueberryMarkets
GBPJPY UNDER PRESSUREWe have discussed in the past couple of weeks of the JPY weakness especially trading NZDJPY long, however GBP remains under pressure as Brexit negotiations continue to be a problem for the uk as well as disappointing CPI numbers downplaying any sort of rate hike hopes for the UK offers good selling opportunities. Looking at the technicals we can see the 4hr timeframe creating the lower lows and lower highs and we expect this to continue down to the support of 145.45.
Short
by BlueberryMarkets
EURAUD SHORT TRADING OPPORTUNITYThis is another pair we touched upon last week as it re-tested key resistance and rejected on the weekly chart. We have had to remain patient with this pair for a high probability opportunity and now we are starting to see the trade shape up. The 4hr is starting to line up with our higher timeframe by creating a lower low breaking through the previous lows at 1.6150 highlighted by the red circle. Looking for the trend continuation move if we see the market retrace back into the 61.8 fib and lows of 1.6200.
Short
by BlueberryMarkets
FTSE 100 LONGS SHORT TERM LONG As we have seen of recent the indices have had what Donald Trump is calling a 'correction'. As a technical trader this looks likely to continue to the downside but we must ask ourselves where the high probability trade is from. So looking at key resistance levels will be key, seeing that the 50% Fib is sitting at the resistance zone of around 7250.0 looks promising for trend traders. So, if we expect price to go short from here we could look at price going long short term to that level. Looking at the 4hr timeframe we can see the market changing cycles here giving us a potential opportunity if it can re-test the previous structure highs at 7055.0.
OANDA:UK100GBPLong
by BlueberryMarkets
USDCHF UPSIDE TO COMEUSDCHF has been stalling around the key support of 0.9860 for a few days now and with the likely hood of further hikes from the Federal Reserve the USD strength looks likely to continue in the near future. Looking at the chart technically we can see the market could be forming a double bottom pattern with the neckline sitting up at the structure resistance of 0.9920. If we see the market form a higher high breaking above the double bottom support we will likely see further upside with targets coming in at the weekly resistance of 1.0050.
Long
by BlueberryMarkets
CADJPY LONGS FROM SUPPORTCADJPY has recently interacted with a key weekly support level of 85.60 with weekly 38.2 fib confluence and bounced breaking through a key trendline resistance. Technically this looks good for a long set up now we have created a higher high on the 4hr timeframe. Looking for price to retrace back into the 4hr highs around the 86.40 zone highlighted with the rectangle box. If we see bullish price action we can look for the long opportunities here. Band of Canada are looking to hike interest rates and typically you will see a currency increase in value in the lead up to a rate hike.
Long
by BlueberryMarkets
NZDCHF WAITING FOR THE BREAKNZDCHF is in focus this week as it approaches a key resistance level after breaking out of a trendline resistance. The market came into a support level and now looks to be forming daily trend if we see the market create a higher high. NZD is another currency of focus highlighted from our COT reports and we have already positioned ourselves on NZDJPY in line with this idea. If the market breaks and closes higher we expect the market to test the 127.2 fib extension before looking to trade after a retracement to the key level of 0.6510.
Long
by BlueberryMarkets