Hello traders and analysts,
Here is an update - see linked idea below.
we have a new opportunity for the USD CHF - we have a nice correctional move for some dollar strength after an impulse move - however;
the 50% fibonacci has been rejected - so now looking for a entry if price corrects up to 38.2% or the 50% again - in order to collect further orders.
Remember:
Trading is reactive -
The Dollar is weak - but still has an opportunity here to reverse before the ride continues down.
Nothing has changed to our previous bias -
it is clear longs have been added.
Expectations based on the consolidation:
Technicals:
20month + consolidation of the pair ranging from 1.00 to 0.93 - now the price has broken the distribution
Weekly demand zone - however, the demand has previous touches this is the so the chances of a breakthrough from the strong safehaven of the CHF is a likelihood.
Looking at the VIX - we can see this increasing by a large amount first targets are 40.00
DXY the dollar is weakening to a 95.2 lows - however the buying of this at the lows will produce huge rewards - the lows of 82 are to be tested.
Looking at Russell and SPY has the gap to fill to $340.00 per share , is this sustainable growth which is being propped up - with earnings quarter now in play, we will see those numbers finally provide profit targets either severely missed or the few will beat earnings .
Nasdaq monthly close will be a bearish hammer unless bulls keep the 10,600 supply intact.
Fundamentals:
US election rallies before taking place at the end of the year with campaigning -
We have NFP numbers showing millions return to work.. but also high unemployment still looming.
Trade war with China, Hong Kong unfolding with US responding
High figures in multiple states which are concerns for large communities- record numbers still being released
Fiscal intervention in July, August for stimulus.. constant printing money is not good for the economy.
US tech stocks have seen the highest returns and zero confirmation by Dow30 and S&P following suit. - will this last? no.. billionaires just adding wealth, SME businesses not receiving the correct funding at all..
Dow 30 is in a fragile state and desperate to keep pushing higher but limited upside will cause a steep decline - refer to Dow chart.. around 27,000 is a good point for a previous monthly high but it may fall over at 28000 tops.
Crippling 1trillion money printing exercise to be released to prop up false growth. enter sovereign debt crsis - printing all this money is just beyond words. With having a weak dollar and inflation created - the dollar will be out of favour.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Thanks,
Team Lupa
Here is an update - see linked idea below.
we have a new opportunity for the USD CHF - we have a nice correctional move for some dollar strength after an impulse move - however;
the 50% fibonacci has been rejected - so now looking for a entry if price corrects up to 38.2% or the 50% again - in order to collect further orders.
Remember:
Trading is reactive -
The Dollar is weak - but still has an opportunity here to reverse before the ride continues down.
Nothing has changed to our previous bias -
it is clear longs have been added.
Expectations based on the consolidation:
Technicals:
20month + consolidation of the pair ranging from 1.00 to 0.93 - now the price has broken the distribution
Weekly demand zone - however, the demand has previous touches this is the so the chances of a breakthrough from the strong safehaven of the CHF is a likelihood.
Looking at the VIX - we can see this increasing by a large amount first targets are 40.00
DXY the dollar is weakening to a 95.2 lows - however the buying of this at the lows will produce huge rewards - the lows of 82 are to be tested.
Looking at Russell and SPY has the gap to fill to $340.00 per share , is this sustainable growth which is being propped up - with earnings quarter now in play, we will see those numbers finally provide profit targets either severely missed or the few will beat earnings .
Nasdaq monthly close will be a bearish hammer unless bulls keep the 10,600 supply intact.
Fundamentals:
US election rallies before taking place at the end of the year with campaigning -
We have NFP numbers showing millions return to work.. but also high unemployment still looming.
Trade war with China, Hong Kong unfolding with US responding
High figures in multiple states which are concerns for large communities- record numbers still being released
Fiscal intervention in July, August for stimulus.. constant printing money is not good for the economy.
US tech stocks have seen the highest returns and zero confirmation by Dow30 and S&P following suit. - will this last? no.. billionaires just adding wealth, SME businesses not receiving the correct funding at all..
Dow 30 is in a fragile state and desperate to keep pushing higher but limited upside will cause a steep decline - refer to Dow chart.. around 27,000 is a good point for a previous monthly high but it may fall over at 28000 tops.
Crippling 1trillion money printing exercise to be released to prop up false growth. enter sovereign debt crsis - printing all this money is just beyond words. With having a weak dollar and inflation created - the dollar will be out of favour.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Thanks,
Team Lupa
