Singapore
AUDJPY BEARISH BAT and BEARISH ABCDAUDJPY on a DOWNTREND here, identified 3 possible SHORT ENTRIES
Advanced Pattern
A possible BEARISH BAT PATTERN. ENTRY @89.26 (Purple line)
ABCD Pattern
Using XA as the impulse leg, i identified ENTRY ZONE 1, between the 71.8 and 61.8 RETRACEMENT OF XA. However, i do not feel that this entry zone will be hit, given that it has already been tested 4 times. But hey who knows?
ABCD Pattern
This entry is the one i have most confidence about. i have identified ENTRY ZONE 2, between the 71.8 and 61.8 RETRACMENT OF BC. While there is a lack of structure for confluence at this level, if price does manage to retrace to this zone, it will be a ideal point to SHORT, with STOPS above B
EURGBP SHORT BASIC STRUCTURE + 1234Looking at EURGBP, price has been a down trend since April this year. Price has retraced to touch the 0.618 RETRACEMENT OF XA. The 0.618 - 0.718 RETRACEMENT ZONE also confluences with a major structure level, the previous high!
Looking deeper, we see that the retracement is also a 1234 SETUP, confluence with RSI DIVERGENCE and a DOJI, whose upper wick extends into the 0.618-0.718 RETRACEMENT ZONE.
Would be a fantastic setup to short. However, bearing in mind the EU Referendum happening on 23/06/16 which will decide if the UK will stay in the EU, i will probably sit this pair out, at least until the storm passes!
NZDJPY ABCD/1234 SHORT Found what I thought would be a simple shorting into a downtrend when price retraced to the 61.8 RETRACEMENT of the impulse leg XA
Further inspection of the RETRACEMENT LEG ABCD revealed a 1234 movement, which terminates at the 1.272 EXTENSION OF AB . This level has further confluence with structure on the left and with the 61.8 RETRACEMENT OF XA. This will be our ENTRY ZONE
Price seems to have neared ENTRY ZONE and retraced. Planning to enter a full position @75.41
AUDCAD BULLISH BAT PATTERNA simple BULLISH BAT PATTERN forming on the AUDCAD
LONG ENTRY @0.92608
TAKE PROFIT @1.01670 RR Ratio= 4.74
TARGET 2 @0.98566 RR Ratio= 3.15
TARGET 1 @0.96166 RR Ratio= 1.86
STOP LOSS @0.90661
AUDNZD BASIC SUPPORT AND RESISTANCE LONGBat pattern just completed (Not drawn in)
Pair moving to support level dating back to late OCTOBER 2015. Simple buying at a support level. Profit targets at 0.618 RETRACEMENT OF XA. Will probably wait for a reversal signal like a higher high higher low or a double bottom on the 4H time frame before entering
SIMPLE ABCD TREND FOLLOWING ON THE EUR/JPYPlaced 2 orders to enter half orders at the 61.8 and 78.6 retracement of XA. Downtrend clearly visible on the 1D and 4H charts
BEARISH GARTLEY ON CAD/AUDA bearish gartley pattern has just completed on the CADAUD (1D and 4H). Purple line represents the 127.2 EXTENSION OF ABA and orange line represents the 78.6 RETRACEMENT OF XA. Shorted a full position
nice top here, about to do a quick moveTarget 1.32, channel support.
All evidence points to a huge dollar tank ahead.
Gold:
EURUSD:
EUR/USD BEARISH GARTLEY, SHORTING 2 HALF POSITIONSThe 127.2 extension of the ABA leg is rather far from the 78.6 retracement of the XA leg. Decided to short 2 half positions at those points. Any thoughts on this method? Have seen variations for the ROE of a Gartley, some requiring confluence while others do not!
Ringgit is still pricing for further decline This level held pretty well in a triangle since I last posted about SGDRMY, it does look like we are about to see a much higher SGDRMY rates at a projected range of 3.25 - 3.29 .
EUR/NZD to retest lows of 1.6020To recap the movement for EURNZD last week, the pair traded lowerafter a bearish pinbar on the weekly chart from the previous week as the EUR remains pretty much weaker, after the Fed raised rates and economic figures from Europe came in mixed.
Monday and Tuesday saw the EUR/NZD trade lower, after which traded pretty much sideways as commodity currencies took a hit, as crude oil fell to the lowest levels since the 2009 financial crisis. Current within a range between 1.6240 and 1.6020, we need to see a break below the low's last week for further downside moves. The speed of the current decline seems to be respecting the 21 EMA on the 4hr chart, and we will use this as a guideline for our stop levels, which is currently placed near 1.6235.
With a pretty quiet week for major economicc data coming up, the pair is likely to consolidate within the range, which is why we plan not to move our stops relative to the 21 EMA for this week. We will need to watch what happens at the 1.6020 lows of last week as a failure to break below, will form a double bottom formation, leading to a recovery for EUR/NZD, back towards 1.6400.
Fundamentally, NZD seems to be bearish but the medium term outlook should allow the NZD to improve slightly, from previous comments about interest rate cuts being put on hold, and GDP results in line with expectations. We are however, worried about EUR strengthening, as the bearish cycle of the EUR decline seems to be coming to an end.
We would like to see EUR/USD break below 1.0800 for further declines, which is highly likely, given that the Fed has tightened, and renewed dollars should push the EUR lower, as it is still structurally weak.
For more analysis, please visit our page at www.fxgenesisfm.com
Fed policy may drive the Dollar @1.41588With the next fed policy coming along, it seems as if the Dollar will gain momentum once again particularly with this pair as investors may find the USD attractive after the next meetings announcements.
The Histogram shows bulls rebuilding strength is it breaks out of the R/Trend very soon.
As for the chart, a HS Pattern upon completion with the daily trend AND Aug Resistance acting as consolidation. If the price manages to break beyond these points then I am guessing that we're going to be up for a hell of a ride towards October highs @1.43587 (201 pips) to then briefly correct near November highs then continue its surge and even push further than October highs.
Stop Loss centered within Left Shoulder which is also below short term support @1.40929 (66 pips)
This was made through research and insights gathered.
Let me know what anyone thinks, I believe we're really onto something here!
Regards
Correlation Trade USD/SGD to USD/JPY *We booked a profit of 27 Pips. Even though the spread is from from closing we decided to take the profit and move back into cash. Of course if this spread narrows we will be leaving a lot on the table but we are happy with the gain from a low level risk trade.
We will be initiating 1/2 our position in a correlation trade of USD/SGD to USD/JPY. The spread is currently 500 Pips and could potentially get wider, if it does we will then have the opportunity to add to our position, hence reducing our costs. The spread should narrow over time as it has done during the past year. One could wait until the correlation completely narrows to the point that both pairs touch or one could take their profit at any time during the closure of the correlation. Please see the chart for more information.
Straits Times Index Daily (14.07.2014) Technical Analysis. The Singapore Straits Times Index (STI) Daily Diagram Technical Analysis Training shows the following:
The STI index has made a long development from January 2014 above the KUMO cloud. Now the Index is above the KUMO above the Tenkan Sen (light green) and Kijun Sen(blue line) too. The weekly and monthly diagram are bullish.
So the first think in mind is the uptrend continuance. The index has reacted from short term support line. MACD is on buy sign and RSI =55>50 (bullish)
We have no special candlestick pattern. The index is above the KUMO and above the Tenkan Sen & Kijun Sen.
There is no special pattern. The fib from 2954.26 to 3135.60 (projection) shows now a support at 1.618 of fib (3247.67) and a long term target at 2.618 of fib at 3429.
