EURUSD...HOW TO SPOT CHANGES IN TRENDIn this video update, we take a look at EURUSD and the current downtrend.
We break down how you can use trendlines to look for trend continuation trades
and changes in trend.
Blueberrymarkets
AUDJPY MOVING LOWERAUDJPY was a currency pair highlighted by the strength and weakness table we showed in the
market outlook. The Australian Dollar continued to weaken last week and the Japanese Yen continued
to gain strength.
Technically price re-tested the previous swing lows and key moving averages and has pushed lower.
If the price continues to form lower lows we can look for further shorting opportunities with targets of
the previous weekly swing lows.
SILVER TO $20.00...In this video update, we take a look at the price of silver as we could see the uptrend continue.
The USD is weakening which will only support higher prices and with the weekly chart showing a rejection'
of the key demand zone, we could see this market break towards the $20.00 resistance.
CADJPY DOWNSIDE POTENTIALCADJPY has recently formed a new low on the daily timeframe and we expect this pair to continue lower.
The 4hr timeframe highlights the key resistance in further detail. This resistance also holds
confluence with a 50% Fibonacci retracement. We will look for bearish price action at this resistance
with targets of the 127.2 extensions.
NZDCAD TOP DOWN ANALYSISIn this video update, we take a look at NZDCAD as the price could be prepared to move over 1000 pips back
into the range highs. The strength and weakness table suggest that the New Zealand Dollar is gaining strength
and the Canadian Dollar is weakening. Technically the monthly timeframe shows price back at the key lows
where we could see price move higher from.
GBPUSD FINDING SUPPORTGBPUSD is finding support at the daily highs in line with the daily trend. The support area
held confluence with the 50% Fibonacci and with GBP remaining strong we could see prices
back up at the 1.2570 swing highs.
WILL STOCK MARKETS CONTINUE TO FALL?...DAX UPDATEIn this video update, we take a look at the stock markets and in particular the Dax.
Price is approaching the inverse head and shoulders neckline once again where price could
find support. Look for bullish price action here for a long opportunity into the daily lows.
GBPNZD SHORT OPPORTUNITYGBPNZD is highlighted in our outlook this week as we expect to see a reversal here as the strength and
weakness tables show that GBP extremely strong and NZD is extremely weak. This can often lead to a reversal
and with the weekly timeframe rejecting the key resistance we can expect a follow-through this week.
Technically price is forming a bearish pattern and if we see a break and re-test of the horizontal support we
can look for further downside.
EURUSD...WHAT NEXT?EURUSD has come to our attention because of the USD Index rejecting the highs. As we know the USD Index
is weighted heavily to the Euro and if the price moves lower here we should see EURUSD prices move higher.
The 4hr timeframe is highlighting an inverse head and shoulders pattern forming and if we were to see the pattern
complete with a neckline break and re-test we could look for long opportunity.
CADCHF TREND CONTINUATIONCADCHF is breaking higher as the Swiss Franc continues to weaken, we will be looking for
a long opportunity on retracements. The 4hr timeframe shows a clear support level at 0.7510
which holds a 50% fib confluence. If price retraces to here we could look for a long opportunity with targets
at the key swing highs.
FURTHER DOWNSIDE FOR AUDUSD...In this video update, we take look at AUDUSD as we expect to see further downside from this market
as the RBA remains dovish on the Australian economy. With price approaching the lows we could expect to see
a pullback where we will look for further short opportunities.
SWISS FRANC WEAKNESS TO CONTINUE?In this video update, we take a look at the Swiss Franc and the potential for this currency to continue to weaken.
The commitment of trader reports highlighted a significant increase to short contracts on the swiss franc adding weight to
the current sell-off we are seeing. We will look to sell the weaker currency against stronger counterparts such as the USD.
AUDCHF LONG OPPORTUNITY AUDCHF HAS RE-TESTED THE PREVIOUS WEEKLY HIGHS AND REJECTED GIVING US A LONG
OPPORTUNITY WITH 1ST TARGETS BEING THE SWING HIGHS. LOOK FOR LONGS ON THE
LOWER TIMEFRAMES IN LINE WITH THE DAILY SENTIMENT.
EURUSD...BREAK OR BOUNCE?EURUSD has approached the key level of 1.0926 as the USD strengthened significantly.
In order to make a decision on this market, we need to see how price reacts to the level.
WILL IT BREAK OR BOUNCE?
The USD is clearly strong and the EURO is clearly weak suggesting that a breakout lower is likely however
because this is such a key level we could see traders take profits on any short positions which would see
the market reverse.
IF the market starts to form bullish price action here in the form of a double bottom pattern we could look
for potential long opportunities.
IF the market breaks through and closes below the level a minimum of 2 times we can expect the downtrend
to continue.
VIDEO ANALYSIS: USDJPY LONG Yesterday we spoke of USDJPY rejecting the demand zone and if price closed bullish we could look
for intraday opportunities. In this video, we take a look at the 1hr timeframe and point out a couple of
opportunities we could take advantage of. Look for targets at the swing highs and the key levels.
USDJPY REACTS FROM DEMAND ZONEUSDJPY re-tested the daily demand zone and double bottom neckline and found buyers.
We expect prices to continue higher towards the previous highs and resistance zone of 109.40.
If the daily candle closes bullish look for intraday opportunities for the rest of the week.
EURGBP AT WEEKLY SUPPORTEURGBP has found support at the weekly breakout highs and with GBP likely to continue to weaken
we could see a rally in prices. If we see a daily bullish close we can look for intraday long opportunities
into the previous daily lows.
NZDUSD BULLISH OPPORTUNITIESIn this video update, we take a look at NZDUSD in more depth as the price has rejected the key demand zone.
The reason we entered this position in the first place was due to the significant build-up in long contracts
on the commercials. Technically price formed a bullish inside candle at the key demand zone with RSI divergence.
EURAUD BACK AT NECKLINE SUPPORTEURAUD has re-tested the inverse head and shoulders pattern neckline where we could see another impulse higher.
The RSI is oversold which adds another confluence to the move. IF we see bullish price action at this level we can look for a long opportunity.
CADJPY LONG OPPORTUNITY CADJPY could move higher if we see a move back into the risk-on sentiment.
USDJPY is approaching the key demand zone and USDCAD continues to reject 1.3300 showing signs
of JPY weakness to come in and CAD strength.
CADJPY technically has found support from the previous highs at 80.73 and if see a break of the trendline resistance
we can expect the price to head back towards the key highs.
GBPUSD TO CONTINUE DOWNTRENDThe weekly timeframe on the GBPUSD shows price forming a bearish doji at the key lows
and resistance. The last time we had a commitment of trader signal we saw the weekly
timeframe form an inverse head and shoulders at the key lows which we could see form again.
NZDUSD TO REVERSE...NZDUSD has returned back into the previous lows where we price could reverse.
The commitment of trader reports shows the commercials continuing to decrease their short positions
at current prices. This is a good sign of a reversal pending for the New Zealand Dollar, strength and weakness
tables also show the NZD at an extreme where we typically see a reversal. If we see bullish price action at this demand
zone we can look for a long opportunity.
USDCAD REJECTS 1.3300...AGAINUSDCAD has reacted from the 1.3300 level again and looks likely to close bearish as the USD begins to weaken.
A strong bearish close will be ideal to look for short opportunities, the 38.2 Fib is added confluence for resistance.
