Blueberrymarkets
EURCHF AT KEY DEMAND ZONEEURCHF is currently finding support at the key demand zone. This pair has been in a downtrend for a while
and could look to reverse as price looks to be overextended. If price breaks above the previous weekly
candle high at 1.0930 we could assume the price may reverse and look for long opportunities counter-trend.
VIDEO ANALYSIS: GBPCAD AT NECKLINE SUPPORTGBPCAD has re-tested the inverse head and shoulders neckline and formed a bullish higher high, higher close
from the level and averages. We could look for a long opportunity here with 1st targets at the highs and second
targets up at the weekly resistance of 0.6585.
BITCOIN NEEDS TO BREAK HIGHER FOR LONG OPPORTUNITIESBitcoin is currently stuck in consolidation and we need to be patient in order to look for long opportunities.
The key will be in a break above the current highs and trendline resistance. If we see a close above these resistance
areas we can look for long opportunities on a re-test of the structure.
VIDEO ANALYSIS: USDCHF TO CONTINUE LOWERUSDCHF formed a bearish engulfing candle on Friday as President Trump tweeted about imposing further tariffs on China.
The risk-off sentiment looks likely to continue this week with USDCHF gapping slightly on the open. We are looking to sell this pair in line with current market sentiment.
SPX500 TO REMAIN RANGE BOUND?It is an important day in terms of news as the FOMC meeting minutes are released. This
will likely rock the stock markets and depending on the tone set out by the Fed the market
could remain range bounce of break out. If they start to talk down the dollar which could
be expected due to recession talks the market could react positively and a clear break higher
will be likely. If they stick to the same outlook then the market could test the key lows and trendline support.
Expect to see some volatility here and some potential sell-offs before the meeting.
EURAUD SWING TRADING OPPORTUNITYEURAUD was another currency pair we highlighted on the market outlook as we expect the market
to reverse as price rejected the key resistance level on the weekly timeframe. The 4hr EMA's have crossed and the price has
broken through and closed below the CTL giving us an option to short the market.
VIDEO ANALYSIS: GBPCAD TOP DOWN ANALYSISIn our market outlook this week we highlighted the non-commercials decreasing their
short positions and the commercials continuing to increase their long positions for GBP futures.
This suggests we could see a reversal in current GBP trends. GBPCAD has rejected the weekly demand
zone and with the daily impulses getting shorter and shorter we identified an opportunity for a long
swing trading position.
EURGBP ONE TO WATCHEURGBP highlighted in our market outlook will be one to watch this week as the
weekly candle closed bearish at the key resistance. The 4hr timeframe is starting
to form lower lows and lower highs with the 20 and 50 ema also crossing. We
will be looking for shorting opportunities on a retracement into the red sell zone.
VIDEO ANALYSIS: USD THE BIG MOVER THIS WEEKThe USD is likely to be the big mover this week as we see the release of the latest
FOMC meeting minutes as well as the news stories appearing from the Jackson Hole
Symposium. These events will likely drive the USD this week and we may see some dovish
tones out of the fed in order to dampen down recession risks. If the price remains below
the current resistance we could look for the USD reversal.
GBPJPY TO RETRACE?GBPJPY COULD RETRACE BACK INTO THE LOWS, THE GBP IS GAINING STRENGTH ACROSS THE BOARD
HOWEVER, WE ARE NOT AT A KEY DEMAND ZONE JUST YET. IDEALLY WHEN LOOKING FOR PRICE TO RETRACE WE
WANT TO SEE PRICE INTERACT WITH A KEY DEMAND ZONE. IF PRICE TESTED 125.50 WE WOULD BE EXPECTING A REACTION.
HOWEVER, IF PRICE WAS TO RE-TRACE WE WOULD EXPECT PRICE TO TEST THE 130.70.
VIDEO ANALYSIS: AUDCHF BACK AT 2015 LOWSAUDCHF IS CURRENTLY RE-TESTING THE 2015 LOWS WHERE WE COULD SEE A REVERSAL IN THE CURRENT TREND.
THE AUSTRALIAN DOLLAR IS CONTINUING TO FALL DUE TO THE CHINA TRADE WAR WITH THE US HOWEVER ANY RISK ON
SENTIMENT HAS BOOSTED THE CURRENCY SIGNIFICANTLY. IF WE DO SEE THIS AGAIN OUR 1ST TARGETS WILL BE HIT.
RISK ON SENTIMENT DIDN'T LAST LONGThe stock markets have turned red again as the risk-off sentiment has returned.
The global risk is affecting the stock markets across the board with the DAX here looking bearish on the daily timeframe.
If price breaks through the trendline support we could anticipate a further decline.
VIDEO ANALYSIS: EURNZD LONG OPPORTUNITYEURNZD is on our watchlist as the euro gains in strength and the NZD loses strength. The daily timeframe is
holding above the previous highs and looks likely to continue higher. The 4hr timeframe has re-tested the
key moving averages giving us an opportunity to trade long into the next resistance zone.
BRENT CRUDE OIL TO CONTINUE LOWERBRENT CRUDE is likely to continue lower as the price continues to form lower lows and lower highs.
The daily timeframe is currently showing price retracing back towards the key resistance of 60.30.
If price forms bearish price action we can look for a swing trading opportunity from these lows.
VIDEO ANALYSIS: EURJPY AT KEY DEMAND ZONEEURJPY is re-testing the key demand zone where we could see a reversal in current price.
The Euro has been gaining strength recently and with the CoT report suggesting a possible reversal in JPY strength.
The 4hr timeframe could be forming a 3 drive pattern. A break of last weeks highs will be ideal in confirming our
long bias.
USDJPY TO TEST KEY LOWSUSDJPY could be ready to reverse if price can test the key lows. The CoT reports show that the short contracts
have reached all-time highs across an 18 and 6 month lookback period suggesting we could see a reversal in the current
Yen strength. If the price tests the lows and forms a bullish candle we could expect a reversal of the current downtrend.
EURUSD BULLISH BREAKOUTLast week we spoke of the potential for EURUSD to bounce from the previous structure highs.
Now the price has done this we could expect the bullish breakout pattern to complete. A break
of the highs at 1.1250 will be needed in order to sustain mid-term long opportunities. The EURO has gained
on the strength scales and with the USD likely to weaken this chart looks set to move higher.