NzdUsd - Failure At Resistance Hints Further DeclinesLat week price re-tested key resistance at 0.69530 and finished the week below this key area. As a result this provides a great chance to look for Bearish formations and patterns back down towards the bottom of the corrective move at 0.68640 and 0.68217 respectively.
Technicals
EurUsd - Re-Test Of Resistance Hints Further DeclinesLast week, after a dull week, price re-tested key resistance at 1.16720 and we go into next week below this area. As a result we will look for shorts down towards the target of 1.14932. A break of 1.16720 would clear the way for 1.17225 however we will only consider shorts below this level.
$BYOC Clear Break of .03 Tomorrow After NVSOS UpdateToday $BYOC's NVSOS filings were updated to show an updated registered agent to Incorp Services Inc. Which means the filings for the company are near to almost finished. 15 10-Qs and 5 10-Ks Should be dropping in addition to all other required filings. That is just the first of what's to come for this great company. Look for a break past .03 and possible .035 move tomorrow.
EurUsd - Sell Off Points To Further DeclinesAfter the sell off from last weeks ECB press conference we are looking for a correction into broken support turning resistance at the 1.17225 area which will provide a great place to look for Bearish formations and patterns for shorts down to the target of 1.14932.
$BYOC Continues Uptrend on Very Strong Buying Volume EOD Friday***UPDATED #BYOC FULL DD PACKAGE***
DD by Dwayne:
(1) Boustead, (2) APAI's Patent/IP, (3) Who else might get rolled into #BYOC, (4) NASDAQ
beyondcommercedd.businesscatalyst.com
byoc.businesscatalyst.com
DD by Tripz:
docs.google.com
DD by Wishmaster
NASDAQ IPO's: $BYOC inks a $10M Deal with Boustead Securities, LLC. Just one of their many:
www.boustead1828.com
ih.advfn.com
On October 4, 2017, Beyond Commerce, Inc. a Nevada corporation retained Boustead Securities, LLC, a California limited liability company as the Company’s exclusive placement agent for a financing of up to $10 million via a private placement of the Company’s securities conducted pursuant to Regulation D 506(c) of the Securities Act of 1933 and as filed with the Securities and Exchange Commission in a transaction exempt from registration under the Securities Act of 1933, as amended, and in compliance with the applicable laws and regulations of any jurisdiction in which securities are sold. The Company will use the additional financing to continue expanding its global reach, accelerate product growth and innovation, and invest in additional sales and marketing resources.
EurUsd - Sell Off From Resistance Hints Further DeclinesLast week the EurUsd sold off from key resistance at 1.18363 hinting at further declines. As long as price remains below 1.18363 we will be looking for Bearish formations and patterns, and a possible re-test of resistance, looking to initiate shorts down towards the next key area of support target of 1.17225
$BYOC The Clear Winner For This Year's Fall and Winter OTCBefore I begin I want to say that it has been a while since I've posted a chart on here. Taking into account that I have been very busy traveling and not trading much during the latter part of the summer. However I have returned and with my return a tremendous amount of research has gone into looking into what I can only describe as the next $OWCP my current play $BYOC
After several weeks of DD and looking over filings accumulated by several folks on Twitter I will post the links here for all to take a look. I won't go into too much detail because if I did it would take several pages and I don't think anyone here wants to read dozens of pages of DD on this website.
Here are some highlights:
1. $BYOC inked a $10 Million dollar private placement with Boustead Securities. Boustead's Client ADOMANI was the first to IPO on the NASDAQ Under the Jobs Act Regulation A+
www.boustead1828.com
ih.advfn.com
On October 4, 2017, Beyond Commerce, Inc. a Nevada corporation retained Boustead Securities, LLC, a California limited liability company as the Company’s exclusive placement agent for a financing of up to $10 million via a private placement of the Company’s securities conducted pursuant to Regulation D 506(c) of the Securities Act of 1933
2. The Current CEO was the original Co-Founder and CEO of the company and won the shell back in a long court custody battle which awarded him over $7 million in a judgement that he will use to transfer for shares over a period of time (basically a buyback imo)
3. The CEO was also the Co-Founder of HQ Office Supplies which was sold to Staples.
4. Keith Moore the Private Placement holder to $BYOC Inc. founded Activision Inc.
5. The DTC Chill has been lifted on all Brokers recently allowing traders to be able to purchase the stock from any broker of their choice (except Robinhood of course.)
6. Some of the more in depth mega DD done by Tripz and Dwayne on Twitter:
A. docs.google.com
B. byoc.businesscatalyst.com
7. A lot more is said to be coming down the pipeline and there is a reason the CEO took back the company he originally birthed.
8. I don't usually say this about a stock but I would say to throw technicals completely out the window with this one. The fundamentals far outweigh any of the technicals, and as you can see by the chart I did, the technicals are more than bullish.
Is USDCHF Ready for a Breakout?Following a weak summer for the US Dollar, momentum has begun to pick up again over the last month as the chances of a December rate hike have increased and traders are starting to price this into the markets once again. In Switzerland, rates remain in negative territory and the Swiss National Bank seem committed to an expansive monetary policy. This policy divergence gives us a good reason to look for medium term buying opportunities on the USDCHF currency pair.
Recent bullish momentum on the dollar has been provided by hopes of a tax reform, easing geopolitical tensions and the potential of a more hawkish Fed Chair being brought in early next year.
Investors are hoping that Donald Trump will be able to bring in tax reforms in the coming months which could see the corporate tax rate cut from 35% to 20%. However, Trump will need to show Congress that his reform plans will be just as beneficial for middle class citizens as well as they would be for the top 1% in order for the legislation to be passed.
Earlier this week Trump interviewed John Taylor for the Fed Chair position as Janet Yellen’s term end is nearing. Reports suggest Taylor left quite an impression on him and this prompted traders to buy the dollar since John Taylor would be expected to be more hawkish than the current Federal Reserve leadership. However, it is also known that Donald Trump prefers lower rates and he will also be appointing members for the vacant seats on the Federal Committee. It is yet to be seen whether he will build a committee whose policy views are in line with his or not. At the beginning of 2018, this will be a key factor for the US Dollar.
However, despite these bullish factors supporting the dollar for now, history suggests that we may have entered into a long run bear cycle for the dollar. On average, USD bull cycles tend to last for 5-6 years whilst bear cycles last around 8-10 years. The most recent bull cycle for the dollar started back in 2011 and based on history, along with the bearish movement this year, that cycle looks to have finished. This suggests that any bullish movement on USD pairs may just be a retracement rather than any long term change.
In Switzerland, the central bank have said that they are committed to an expansive monetary policy due to Swiss Franc strength. A strong franc has been a major concern for the bank for some time and despite some weakness recently, sight deposits have not been dropping as fast as analysts expected which suggests that net long positions on CHF are still being held.
The Swiss Franc is one of three traditional safe haven currencies which is one of the reasons for the currency being so strong. The SNB continue to intervene in the currency market to control the currency strength and last year they were forced to cut rates into negative territory. The Japanese Yen, another safe haven currency is suffering with the same issue and despite rate cuts, investors will continue to purchase these currencies in times where a risk off sentiment takes over the market as it has done so multiple times this year.
On the technical side, USDCHF has been range trading for about 2 years between 0.94500 and 1.03500. Last month, the bottom of this range was tested and it looks as if long USD positions will take this pair to the top of range. Given the current fundamentals and sentiment, we do not expect any breakout of this range. The SNB are continuing with their current policy which would mean that movements on the Swiss Franc would be from sentiment rather than fundamental changes. The fundamentals in the US are strong with further rate hikes expected but inflation continues to hold back the economy. The next few months are a key time for the US dollar, economically and politically, and we would need to see some significant progress before considering a breakout of this currency pair. Based on the current data and information, we expect this pair to continue upwards and test the top of the range.
EurUsd - Downtrend Intact Despite Loss Of MomentumEurUsd lat week broke below key support at 1.17381 and is currently testing it as resistance forming a Bear Flag in the process. As the downtrend is still intact we will look for further declines in the EurUsd towards the targets of 1.16399 and 1.15167 respectively. Only a clear break and run above the downward sloping trend line and key resistance of 1.17381 will negate the current Bearish bias.
EurUsd - Bear FlagThe EurUsd last week broke down below key support at 1.18455 and is now pulling back to re-test this area as resistance resulting in a Bear Flag formation. A re-test of the 1.18455 would provide a great place to look for potential shorting opportunities down towards the targets of 1.16942, 1.16339 and 1.15167 respectively.
USDJPY 25.09.17
Trading at 111.990.
Hovering between 112.200 and 111.900. A close above either of these levels will be an ideal signal as to where we could be heading over the week beginning 25.09.17.
A close below 111.960 will mean a retracement towards 50.0 Fib Level (111.00)
A close above 111.200 will see buyers target 112.600 - 112.800.
Major resistance coming in at 112.600, price was unable to break above this level last week.
In my opinion I believe price will retrace back towards this level before we see any major moves to the downside.
108.000 currently major support level for this pair.
LTC Pulling Back, Still BearishLitecoin is moving in tandem with the rest of the cryptos, pulling back for some air at a Fibonacci level. Notice how both momentum indicators have clearly turned bearish. Short term this is a sell opportunity, as we look to consolidate and form a 'dragon head' pattern. This will present a buying opportunity in the long term. If not, and there is a solid rejection of the $30 handle, look to buy on dips.
GOLD - PULLBACK TO KEY SUPPORT TRIGGER LONG OPPORTUNITYPrice has pulled back to key support clearing the way for bulls to come back in and take control of Gold to new highs. A counter trend line break would add additional confirmation the bulls were taking back control of Gold. Targets are set as the next two key resistance areas to the upside at 1,358.10 and 1,375.03 respectively. Further declines in the USD Index should aid the Golden Bulls.
NZDUSD - Break of Head & Shoulders To Trigger Long OpportunityLast week saw bullish momentum coming into the NZDUSD causing price to begin forming an Inverse Head & Shoulders pattern signalling a potential rally soon in the NZDUSD. Price is currently still in the correction phase of the right shoulder and a break of the neckline will clear the way for longs to the target highlighted on the chart which is both the technical Head & Shoulders target as well as the next key area of resistance on this pair.
USDCAD - Head & Shoulders Break To Trigger Short OpportunityPrice has made a downward sloping Head & Shoulders pattern with a test of the neckline. A break below the neckline test will clear the way for shorts down to the Head & Shoulder Target 1 and Target 2 at the next key area of support highlighted in the chart. The formation of a downward sloping Head & Shoulders pattern however indicates the possibility of even further declines in the USDCAD past the targets as the downward sloping nature of the patterns neckline (in a downtrend) often proceeds volatile moves. A rally in Oil should also see the strength coming into the Canadian Dollar.
NZDJPY - Break Of Neckline Clears Way For Shorts To 79.200NZDJPY has pulled back to a previous resistance area and is in the process of forming a Head and Shoulders pattern. A break of the neckline will provide an opportunity for shorts to the 79.200 which is the Head and Shoulders technical target.
Fundamentals are no good for this pair anymorePure price action here. Try to get a tactical entry don't just jump in.
Trend continuation but wait for a bit of sideways consolidation since the last rally may be getting overextended.
Any comment is appreciable. Let me know what you think. Thank you.
Trade safe. Trade well.