BRENT CRUDE OIL TO MONTHLY LOWSBRENT CRUDE OIL is continuing to form lower lows and lower highs on the daily timeframe. Oil
prices look bearish here with the monthly lows of 52.00 likely to be targeted for long term swing positions.
The daily chart suggests we could see a retracement back into the lows of 60.32 where we could see sellers
continue the downtrend.
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GBPUSD TO CONTINUE LOWERGBPUSD has broken through trendline support suggesting we could see further downside
here. The daily trend is down and the 4hr looks to keep on that path with the 20, 50 and 200 EMA
in line also. Now the price has broken through the trendline support we could look to short this market
with targets of the key lows.
EURUSD TO BOUNCEEURUSD has recently formed a new higher high on the daily timeframe. This could suggest a move higher to come
for this currency pair. With the USD expected to be weaker and the Chinese potentially looking to buy EURO to get
rid of their USD holdings we could expect this market to move higher. We expect a re-test of the blue support zone
where we will be watching for long opportunities.
VIDEO ANALYSIS: NZDUSD TO 0.6300The RBNZ cut interest rates by 50bps as they weigh up global risks. This did come as a slight
shock to the market as we were forecast to see just a 25bps rate cut. The market saw this
as a negative and pushed NZDUSD prices through the key lows. We expect to see further
downside here in this market and will look for short opportunities on retracements.
USDJPY TREND CONTINUATIONYesterday we spoke of the risk-off market sentiment to continue. USDJPY recently
broke out of the key lows and has spiked overnight into an area of resistance. This will
be a good area to look for trend continuation moves. We will be looking for the 4hr
to give us bearish signals. A double top pattern at the highlighted resistance will be ideal
for short entries.
VIDEO ANALYSIS: SILVER TO TOP AT $17.00?In this video update, we take a look at Silver and how the market is currently in a bullish trend.
The CoT reports show that the commercials are increasing their short positions and are at all-time highs
across an 18 and 6 month look back period. We are expecting one last rally where $17 could act as a top
in the market.
NZDUSD TO RE-TEST DAILY LOWSNZDUSD is finding support at the key monthly demand zone. With the USD losing strength
we could see the price of this currency pair back at the key daily lows of 0.6600. If the daily
price finishes bullish we can look for short-term long opportunities. We must remain aware
that the New Zealand Dollar is losing strength and any long opportunities should
be taken with reduced risk.
USDJPY TO REMAIN RANGE BOUND?USDJPY looks likely to remain rangebound as price looks to be forming a bearish engulfing candle on the daily timeframe.
This is largely down to the current JPY strength which could be caused by some risk off coming back into the market.
If the JPY strength continues we can look for potential range trading opportunities back into the lows.
VIDEO ANALYSIS: USD STRENGTH TO CONTINUE?In this video update, we take a look at the recent USD strength after the recent FOMC interest rate decision.
The need for the Fed to cut rates has slowed and become less aggressive because of the recent good data.
Fed Chairman Powell continued his hawkish outlook in the press conference which has helped sustain the
USD rally. A close above the highs will be key to see any further upside.
DAX BACK AT WEEKLY SUPPORTThe Dax has fallen recently, however, the price is still supported by the long term weekly
trendline and the dynamic support and resistance of the moving averages.
Price has formed a new low on the daily timeframe however if we see a bullish close today
we could assume it is a false break of the lows. In that case, we can assume the uptrend
will continue into the key resistance.
VIDEO ANALYSIS: USDCAD TO 1.2900? USDCAD lined up with our strategy trade at the end of day close. In this video, we discuss the current reasons
for taking the trade, how we can manage the positions and what to do going forward.
If price continues the downtrend we expect to see the key demand zone of 1.2900 tested before the end of the year.
EURUSD BEARISH SENTIMENT TO CONTINUEEURUSD looks likely to continue lower despite the price bouncing from the lows.
Sentiment indicators suggest that the retail market is net long here which suggests
prices could break lower. If price breaks through the lows we should expect a continuation
of the downtrend. If the USD does weaken however price could test the current lows before
breaking lower.
VIDEO ANALYSIS: BITCOIN SWING TRADEIn this video update, we take a look at Bitcoin as price action is suggesting
we could see an impulse move higher. Price could be forming a higher low here
and if we see a break of the daily candle highs we can look to go long with targets
back at the key swing highs.
EURNZD SWING TRADING POSITIONEURNZD swing trading position has triggered as price re-tests the previous daily swing lows.
The EURO is the weakest currency and NZD is the strongest so we should see the downtrend
continue in line with the monthly timeframe. The trade is supported by the Fibonacci retracement tool
as well as the 3 major moving averages turning bearish.
VIDEO ANALYSIS: DXY TO BREAK MONTHLY HIGHS?The USD strength continues despite the likelihood that the Federal Reserve will cut rates by 25bps this week.
The key for any break or bounce here will be left in the hands of the fomc press conference. If the FED is aggressive with
the way they want to cut rates then we should see USD weakness. If they feel there is no need to cut rates so aggressively then
a breakout higher is likely. Despite the current strength, the technicals are suggesting a potential reversal could form here.
USDCHF BULLISH FLAG BREAKOUTWe have been monitoring USDCHF as we expected some CHF weakness to re-enter the market
as the Swiss National Bank has started to talk of intervention. This would naturally see the
currency weaken and USDCHF, in particular, has now broken through the bullish flag pattern giving us
potential long opportunities.
NZDCHF TRADE TRIGGERSNZDCHF trade posted in our telegram channel last night has triggered and is on the way.
The 4hr timeframe has now formed a higher high adding to our bias that the daily uptrend will
continue. We could look to add into this trade as price moves in our favour on retracements subject
to our rules.
VIDEO ANALYSIS: REASONS TO SHORT EURAUDIn this video update, we go through different methods to short EURAUD as we expect
the current downtrend to continue. EURO is weak and will look to continue that weakness.
If the price retraces to the sell zone we will look for bearish price action to short this market.