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EUR/USD: Week 44 OutlookEUR/USD moved lower by -94 pips last week, to complete a completed correction a short 4 Hour correction, looking to rally higher. The EUR/USD had an impulsive rally; falling short of the $1.12 target. We may see this level come to fruition as last week's pullback solidified off of $1.075 as support. We believe we will see a rally to $1.12 and beyond within the next week or two. Momentum holds strong as long as BREXIT news or overpowering U.S. news comes to disrupt its momentum. Wednesday’s (10/30) Fed meeting info and speeches come out and this Friday (11/1) the U.S. Non-Farm figures and unemployment data are released, which could have some effect on markets depending if analyst estimates are beaten or missed. THE PLAY: We bullish on the EUR/USD, long above 1.1140.
Long
by KingdomRichOffical
DAX 30: Week 44 Outlook Analyzing the DAX 30 we’ve seen similar reactions in the American and British indexes. According to market reports, the E.U. is bullish on a unified stance on a BREXIT extension until January 31st. The British Prime Minister is in the trenches trying to fight this, but The E.U. are optimistic. The DAX 30 rallied just shy of +2.00% last week on positive sentiment. The impulsive push higher is now pressing against an inside rising wedge. We could see prices in the DAX 30 pop just above 13,000.00 before succumbing to possibly 12,400.00 We believe this is the 3rd touch of the larger higher wedge pattern which will be in line with the inside wedge. 4 Hour candles are printing smaller and have had it’s 3rd ceiling touch as well. THE PLAY: We are bearish, waiting for a close below 12,800.00 on the Daily Chart.
OANDA:DE30EURShort
by KingdomRichOffical
S&P 500: Week 44 Outlook The S&P 500 has been driven higher on solid earnings numbers in the U.S. With the week finishing with no heavy geopolitical headlines (at least in the U.S.) we’ve seen the S&P 500 push higher to stay above it's all time highs. We are indeed watching the forming of another rising wedge pattern on this market as it has impulsively pushed higher. Last week saw a +1% gain on the week, and flexing against the all time high of $3,000. The +0.59% push we believe is positive sentiment more than a new operating plateau. We are watching the S&P 500 in this wedge pattern, as we believe it will result in a bearish impulse in the coming weeks. The Relative Strength Index printed a 59.46, stating it hasn’t reached those over-saturated long levels. THE PLAY: We are neutral as the S&P 500 can press to $3100 before any correction begins to form. If we don’t and indeed impulse lower, we could see.
OANDA:SPX500USD
by KingdomRichOffical
OIL: Week 44 OutlookOil has continued to move higher as inventories were down in the last Crude Oil Inventory report. The next data release (10/30) is being forecasted at 729 thousand barrels. Oil prices have been sporadic this month between the Saudi Arabian attack and the Iranian oil tanker attack, throwing analysts off this month. On the technical analysis front, Oil saw a +5.30 rally last week, breaking higher than our expectations. Last Thursday (10/23) seeing the biggest gainer at +2.82%. The week closed at $56.58 a barrel showing market strength. We are tracking on the Daily chart a Bearish Rising Wedge Pattern, however, on 4 Hour and 1 Hour time frames, the bullish momentum is still playing out and has not subsided enough for a bearish breakout. In addition, we still have strong support at the $50.00 to $52.00 price range. According to the CFTC’s Commitment of Traders Report (COT) Oil producers are long 96% more than they have been in the last 5 years. This indicates oil makers are hedging against higher prices. THE PLAY: This week we have a Hold on Oil as we are ranging higher.
OANDA:WTICOUSD
by KingdomRichOffical
GOLD: Week 44 OutlookWe see Gold continuing to move lower this week on a risk-on environment. Investors have taken the BREXIT delays along with low static on the U.S./China front as a positive outlook. Gold closed last week higher just shy of +1% (+0.94%) due to the conclusion on BREXIT uncertainty, however, that all has changed. Friday we saw a high touch candle, moving out of our upper trendline with weakness. We have adjusted our outlook to be a definite bearish bias. Friday saw a move of just over +$14 before giving back all of its gains to close at +0.07%, just about breakeven. The 4 Hour chart shows price pressing against an 18-day support line. We believe with this type of pressure we will see a lower gold this week. THE PLAY: We are moving from hold to Short on Gold if it breaks and closes below $1480.5 down to $1400.00
OANDA:XAUUSDShort
by KingdomRichOffical
BITCOIN: Week 43 OutlookAfter it’s -18% drop, Bitcoin has stayed within a tight range of play. Last week, Bitcoin saw a less than -1% move, and Friday, only a tiny -0.08% close. Sunday’s close saw a +2.68% pop up above our shorter-term Bull Flag. We may see Bitcoin bounce between $8,180 and $8,300 before its continuation up to $8,600. However, on the flip side if we see an aggressive down Bitcoin may print orders to a downside of $7000. The current 4hour pattern is a Bearish Flag which may complete. THE PLAY: We are long above $8,300 close.
COINBASE:BTCUSDLong
by KingdomRichOffical
EUR/USD: Week 43 Outlook The EUR/USD saw a full +1.20% rally for the week, which is a pretty large move in currencies. This is as expected off the back of the positive BREXIT momentum. Some analysts are saying that the U.K. should exit as soon as possible as they could potentially make negotiations worse leading to a more favorable deal for the European Union. Over the weekend we saw the extension force its way through the U.K. government’s desk against the will of the Prime Minister of the U.K. and his cohorts. The PM did not agree nor sign the extension letter in protest. This week will reveal how positive, negative, or neutral this will affect markets. Going to the charts, our forecast on the EUR/USD is 80% to 90% complete. We saw the breakout, retest, and continuation headed to our 1.12 target. At his point, we have not changed our forecast as we believe we will see 100% completion of the outlook. THE PLAY: We are on Hold with the EURUSD as it continues its climb to 1.12.
by KingdomRichOffical
DAX 30: Week 43 OutlookA favorable response out of Germany in the last few weeks to the economic and geopolitical data leading news headlines. The German Dax rallied a full +2.38% on the week before settling up +1.42%. This is off the back of comforting U.S. - China trade negotiations looking up. As a major exporter, Germany will benefit massively from a favorable deal between the two countries. In addition, as the largest economy in the European Union, the BREXIT negotiations ending in a good light Friday. The deal was listed by analyst as favorable for the E.U., and plus for German traders and investors. From a technical perspective, we have changed our forecast. With such strength in the market, it invalidated the downside continuation pattern and rallied massively to 12,820.00 The last 3 days of trading saw a range of 12,600.00 to 12,700.00 indicating a correction may be forming. THE PLAY: A close below 12,600.00 on the Daily will signal us to sell into the correction before a higher rally overall. Target 12,250.
OANDA:DE30EURShort
by KingdomRichOffical
S&P 500: Week 43 OutlookThe S&P 500 finished up +18.8 points on the week after reactions to U.S./China news, BREXIT grief, and the start of earnings season. Week 41 saw a -2% move and over -3% down week 40, however, it finished strong Week 42, up +20.2 points. Although it did not move back down to the $2850.00 level we did see bounce off $2,890 (just $40 off our initial call) to hit our target of $3000.00. Now that it has completed this sequence we’ve noticed that July printed an all time high of $3025.00 and September investors and traders saw a high of $3023 before a steep -5% decline before this last attempt $3006 here in October. Although October isn’t over, we noticed that this is the 2nd failed attempt to break the all time high. We’re inclined to believe we will see a move lower at some time to $2930 (maybe press to $2900) before the S&P 500 gain enough steam to break $3,000 from a technical perspective. THE PLAY: Short bias as a correction before the rally (we believe a negative geopolitical or news event will be the catalyst.) Comfortably short below $2970.00 close.
OANDA:SPX500USDShort
by KingdomRichOffical
OIL: Week 43 OutlookOil continues to stay range bound finishing the week down -2.17%. This is on the back of economic reports of a shrinking Chinese Economy and it’s consumption of Oil going down. Analyst measured China’s economy shrinking by 6% year to year in Q3, making Oil market participants slightly pessimistic on it’s move higher. From a technical perspective, Oil squeezed out our shorter term Bear Channel to see a move higher. With it’s consolidation continuation we could see price grind around $52.50 and $55.00 in the next few weeks before the 3 touches of the support range is completed. We may see one additional touch of the $50.50/$51.50 range. THE PLAY: We are bearish below a price print of $50.80 and lower.
OANDA:WTICOUSDShort
by KingdomRichOffical
GOLD: Week 43 OutlookWith Risk-On in most major markets (U.S., U.K., and the E.U.) we have seen Gold consolidate. With the mix of global macro news, Gold may remain consolidated in the coming weeks, bar any negative outcomes. Gold finished last week at +0.1%, highlighting its strong indecision. We’ve traded below the $1,500.00 range for the last 5 trading days as well, showing weakness. With news out of the U.K. that it’s government voted against the proposed deal, and official letter being issued to the E.U.; Gold investors may see this as a risk-off opportunity and a rally could ensue. If most Gold participants receive this event as positive we will see a gold move lower to $1460 as U.S-China trade deals are still inconclusive with positive noises coming out of both camps. THE PLAY: If news is taken well out of the U.K., we will buy Gold closed above $1505.00. If the reverse is the case and bearish momentum comes in a confirmed close below $1480 will inspire us to get short.
OANDA:XAUUSD
by KingdomRichOffical
BITCOIN: Week 41 OutlookAfter losing over -18% BITCOIN consolidated for 13 days before breaking upwards per the Bullish Flag Pattern extension playing forward. We saw a slow market last week as Bitcoin moved up +5.00% and down -4.00% to close at -2.39% for the week at $7859.79. Our expectations are for it to rally up to the top of the Bull Flag Pattern between $9500 and $9600 with a positive investor outlook. In the event we see bearish momentum pile up in the Bitcoin market, we could see the price reach $9500 and fail to move lower into the $7500 range. However, our expectation is bullish to see it higher at +$9500 territory. THE PLAY : We are buyers of this market with if Wednesday, October 9th daily candle closes above $8400
COINBASE:BTCUSDLong
by KingdomRichOffical
EURUSD: Week 41 OutlookThe EUR/USD outlook remains fairly untouched, as we are still within the Falling Wedge Pattern (a bullish system.) The Euro closed up +0.35% against the US Dollar Friday, creating a bullish Low Test Candle, another indication of upward movement. With BREXIT and U.S.-Chinese negotiations going on we will see what catalyst will drive the price of the Euro higher. With a slight revision, we see 1.075 as the first headwind that the price may face before moving higher. If we look at the visible volume range in chart we can potentially see where the orders sit to react to price. We believe that the BREXIT situation will have the largest effect on the Euro and a frustrated China will affect the US Dollar in the coming days and weeks. THE PLAY : We stand neutral on the EUR/USD until we 1.10 and close, proving that we are moving higher.
by KingdomRichOffical
1
DAX 30: Week 41 OutlookAs we expected the DAX 30 completed its Bearish Flag Pattern breaking lower last Tuesday, October 1st below the bottom trend line of the pattern. This was on the back of the “not-so-spicy” BREXIT deal made by the U.K. Prime Minister, and Parliaments enraged responses to him as well. The offer made to the Euro was underwhelmingly received, the Parliament feel that PM Boris Johnson is sabotaging the negotiations. Northern Ireland has turned up the heat making sure that the PM request an extension for a trade deal before the U.K. is forced to leave the European Union. Unfortunately, we at Invest Wright don’t see a positive outlook on the BREXIT deal, in so, we expect a lower move to €11,500 on No-Deal BREXIT. Prime Minister Johnson has stated his intent to leave with no deal, the EU is not budging, and October 31st (Halloween) is the deadline. To mix in, Germany is starting to see and experience recession fears as a slowing manufacturing section and massively higher export taxes and levies leave cost up and profits lower in the German economy. THE PLAY : A break and close below €12,000 will trigger a sell for us.
OANDA:DE30EURShort
by KingdomRichOffical
S&P 500: Week 41 OutlookS&P 500 had a volatile week last week, opening under $3,000.00 and moving down to $2,853 falling down over -3.00% on the week, before popping higher on positive unemployment numbers. Even though the job market increased by +136,000, it still missed market estimates. However, this number keeps the Fed’s plan in place to cut rates, which investors view as good news as this will allow more lending, which will create more spending bolstering the economy. S&P 500 closed at +1.35% on Friday on positive news, however for a technical outlook we have been in a downtrend for the last 20 trading days, with a bullish bounce last Thursday and Friday gaining +2.5% back on the rally. We believe this is just profit-taking on the sell-off and we will see downward movement to form a correction pattern to the upside. The goal is a play back up to $3,000. If we see more negative news on the geopolitical front, we may see a dive bomb into the $2750.00 region. THE PLAY : We are buying at $2,850.00 for the rally to $3,000.00 (bar negative US events)
OANDA:SPX500USDShort
by KingdomRichOffical
OIL: Week 41 OutlookAnother commodity affected by the geopolitical climate is Oil. We have seen 13 consecutive negative days in the Oil market until Friday’s bullish close +1.34%. Needless to say, we still have a saw a negative close on the week down -5.68% at $53.05. We are watching the geopolitical environment as BREXIT and the U.S. - China Trade War way in on the Oil market. In addition, with the latest news of the U.S. pulling out of Syria and handing the keys to Turkey, this may stir some volatility into Middle Eastern markets, which will affect Oil for sure. Evaluating the technicals, we see an interesting move here on Oil. On Friday’s close we have now an official Triple Touch Pattern showing that price has failed to break below the $50.00 area in June, August, and October! If we don’t see a forced move in the Oil market or a jarring event, we expect it to rally higher to complete the triple bottom pattern. THE PLAY : We are buying Oil at the break and close above $53.50
OANDA:WTICOUSDLong
by KingdomRichOffical
INVESTOR & TRADING TIPS: Market MovementHi Everyone! This is the first of many videos to come! I wanted to create a high-level look at my approach to analyzing a market; market movement; and potential trading opportunities as well. Again this is a high-level look at breakdowns. If you have any questions please let us know! Follow us on Instagram: @Invest.Wright (instagram.com) Email us at investwrightsolutions@gmail.com Check out our Weekly Report: www.investwright.news
Education
by KingdomRichOffical
BITCOIN: Week 40 OutlookBitcoin has done the complete opposite of our outlook. Last week it had a massive sell-off, losing over -18%. Its movement has changed the pattern that we are watching. It still is a bullish pattern, converting from a Symmetrical Triangle to a Bull Flag Pattern. With the force of the move from over $10,000.00 moving bellow $7,800 before settling above $8,000 shows us this move may not be over. We are not taking any buys on BTC at this point. A break and close above $9,000 would give us the confidence to look for bullish setups on this pair. Due to the large pattern, we don’t see any selling opportunities since it has made the major impulsive move. If the price cannot break about the $9,000 region, we could see more bearish setups in the future THE PLAY: Neutral as the bearish impulse has already taken place, and the bullish pattern has changed, but not confirmed yet. COINBASE:BTCUSD
COINBASE:BTCUSD
by KingdomRichOffical
EUR/USD: Week 40 OutlookWith the ECB pumping €20 Billion a month into the European economy, the value of the Euro by default will decline due to a massive supply increase. This move lower was a bit steeper than expected, and so we’ve made slight adjustments to our analysis and outlook. We saw it push down -77pips to close the week on the easing news. It’s an impulsive move below the sub 1.0910 region hints at more weakness in the Euro before climbing over the US Dollar. If Friday’s slightly bullish closes, and follows with another positive day, we can see some market sentiment change to the upside finishing the second leg of our outlook. We are looking for a price pop to 1.075, correction, and then move to 1.12. However, this is all dependent on if the bottom of the Weekly Falling Wedge pattern holds or not. THE PLAY: We are neutral on the Euro (similar to the DAX 30) until we see a close above 1.1020 - 1.1025 regions.
by KingdomRichOffical
DAX 30: Week 40 OutlookThe German DAX 30 has is soon reaching a decision point in its correction. It closed up half up Thursday at half a percent before drying up friday with a small +0.03% gain. After it’s the completion of the inverse head & shoulders pattern, I believe we can now see a completed Bear Flag Pattern coupled with a double top. Analyst believes the positive news of trades out of China gave the DAX investors and traders to see a positive outlook in the next week. We are watching 12,500 to 12,450 region as a possible area for sellers to push into the market. This is has failed twice this month, serving up a Double Top Pattern which is an indication of a move to the downside. If this momentum moves up and fails to break this region we could see a confirmed Triple Top Pattern before the market fails and buyers relinquish their position. THE PLAY : We are neutral this week to wait for more action to play out. However, an impulsive break below 12,250 and close on the daily time frame will spark us to short this market.
OANDA:DE30EUR
by KingdomRichOffical
S&P 500: Week 40 OutlookThe S&P 500’s movement stayed consistent forming a Spinning Top pattern on both last Friday, and the same pattern for the week. We saw Friday sell off a full -1.00% before rallying to close at only -0.37% at $2,966.20. The week committed to the same action, as it moved up +¾ of a percent then down -1.48% to close at only -0.69%. This movement showed indecision and shows us investors and traders are still within a holding pattern. On the Daily chart, we saw a double topping pattern between $3,025 to $3,000. If this area holds as a profit-taking area or a sellers order base we could see the S&P 500 move impulsively down to $2,900.00. We believe we will see the $2825 on Gold as tensions in the US, UK, and China ease a bit. THE PLAY: A sell trade is potential upon the break and close of the daily trendline bottom.
OANDA:SPX500USDShort
by KingdomRichOffical
1
WEEK 40: Oil OutlookDespite the volatility in Crude Oil created by the attack on Saudi Arabian oil processing plants and some geopolitical tension with the US talking “war” in the media, the price has moved to our expected touchpoint. Oil saw a spike just a tad bit below $55 (down to $54.85) before a pull back on the close of the week. The week saw a -3.88% decline pressing again into the bottom of our trendline. We saw a spike in volume on Oil that tipped +198k orders, highest in the last 5 days. This is a sign to us that Oil investors and traders see more opportunity in markets and have sized themselves in accordingly. We are looking at two potential plays with the same bias on this market, a move lower. We have removed our $66.00 potential long target, due to serious market commitment to the downside is prevalent. Our first outlook is price the first outlook (in white) we could see price move lower to the $52.25 to $52.50 range before rallying to $57.75 - $58.00 range and moving lower to our end target of $42.50. The second scenario (in yellow) is our previous play; a move down to $56.00 and then run up to $66.00 before completing the Daily Bear Flag pattern THE PLAY: Wait for Pullback to $60 and impulse down or $66 and impulse lower.
OANDA:WTICOUSDShort
by KingdomRichOffical
WEEK 40: Gold OutlookGold saw a negative week altogether, closing down to -1.5% due to a risk-off the market, as positive US political news coupled with positive trade war talks. We saw Gold close below $1,500 for the second time in the last 3 weeks (marked by the yellow arrow). Price closing down at $1,497.20 along with a +1.4% rally to only then fail, showed us that the market has a weakness. We are expecting our downside analysis to $1,400.00 to continue in the next few weeks. From a technical look, price closed below the updated trendline on our 4 HR chart, signaling an impulsive move to the downside. If price moves impulsively, we will eventually see a smaller time frame correction pattern and a continuation to our target. THE PLAY: We are holding our sell as we’ve entered on a close below $1,485.00
OANDA:XAUUSDShort
by KingdomRichOffical