USDCAD is starting to stall at the 1.3300 resistance and if the price continues to fail here a breakout lower
is to be expected. The price has been finding support at the trendline and if the price was to break and close
below we could see further downside.
EURGBP has been on our watchlist for shorting opportunities and price looks likely to break down now.
We looked for the re-test of the moving averages in order to short the market with targets of 0.9000 weekly highs.
We have been triggered into the move.
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.
It is an important day in terms of news as the FOMC meeting minutes are released. This
will likely rock the stock markets and depending on the tone set out by the Fed the market
could remain range bounce of break out. If they start to talk down the dollar which could
be expected due to recession talks the market could react positively and a clear break higher
In this video update we take a look at GBPUSD in more detail and why we are looking for
a reversal in the current downtrend. We speak of the CoT reports often and this video
we have broken down what is happening and what has happened before.
EURGBP highlighted in our market outlook will be one to watch this week as the
weekly candle closed bearish at the key resistance. The 4hr timeframe is starting
to form lower lows and lower highs with the 20 and 50 ema also crossing. We
will be looking for shorting opportunities on a retracement into the red sell zone.
In our market outlook this week we highlighted the non-commercials decreasing their
short positions and the commercials continuing to increase their long positions for GBP futures.
This suggests we could see a reversal in current GBP trends. GBPCAD has rejected the weekly demand
zone and with the daily impulses getting shorter and shorter we identified an...
BRENT CRUDE is likely to continue lower as the price continues to form lower lows and lower highs.
The daily timeframe is currently showing price retracing back towards the key resistance of 60.30.
If price forms bearish price action we can look for a swing trading opportunity from these lows.
GBP looks likely to move higher as price rejects the key demand zone. The Commitment
of Traders reports highlighted the increase in long contracts from the commercials. This shows
that they are happy to buy at current level giving us an opportunity to look for a trend
reversal. Technically price is still in a downtrend however we could see price form an inverse...
In this video update, we take a look at Silver as expect the market to reach the monthly highs of $16.00.
The 4hr timeframe has started the move higher, forming a higher high with the structure highs offering a good
level of support for a long opportunity. If the price can retrace we can look for bullish price action in this zone.
EURAUD was another currency pair we highlighted on the market outlook as we expect the market
to reverse as price rejected the key resistance level on the weekly timeframe. The 4hr EMA's have crossed and the price has
broken through and closed below the CTL giving us an option to short the market.
The USD is likely to be the big mover this week as we see the release of the latest
FOMC meeting minutes as well as the news stories appearing from the Jackson Hole
Symposium. These events will likely drive the USD this week and we may see some dovish
tones out of the fed in order to dampen down recession risks. If the price remains below
the current resistance we...
GBPJPY COULD RETRACE BACK INTO THE LOWS, THE GBP IS GAINING STRENGTH ACROSS THE BOARD
HOWEVER, WE ARE NOT AT A KEY DEMAND ZONE JUST YET. IDEALLY WHEN LOOKING FOR PRICE TO RETRACE WE
WANT TO SEE PRICE INTERACT WITH A KEY DEMAND ZONE. IF PRICE TESTED 125.50 WE WOULD BE EXPECTING A REACTION.
HOWEVER, IF PRICE WAS TO RE-TRACE WE WOULD EXPECT PRICE TO TEST THE 130.70.
AUDCHF IS CURRENTLY RE-TESTING THE 2015 LOWS WHERE WE COULD SEE A REVERSAL IN THE CURRENT TREND.
THE AUSTRALIAN DOLLAR IS CONTINUING TO FALL DUE TO THE CHINA TRADE WAR WITH THE US HOWEVER ANY RISK ON
SENTIMENT HAS BOOSTED THE CURRENCY SIGNIFICANTLY. IF WE DO SEE THIS AGAIN OUR 1ST TARGETS WILL BE HIT.
The stock markets have turned red again as the risk-off sentiment has returned.
The global risk is affecting the stock markets across the board with the DAX here looking bearish on the daily timeframe.
If price breaks through the trendline support we could anticipate a further decline.
EURNZD is on our watchlist as the euro gains in strength and the NZD loses strength. The daily timeframe is
holding above the previous highs and looks likely to continue higher. The 4hr timeframe has re-tested the
key moving averages giving us an opportunity to trade long into the next resistance zone.
USDCAD is on our radar this week due to the bearish rejection candle on the weekly timeframe.
This rejection could signal the start of another move lower; the 4hr timeframe is forming a head and
shoulders pattern at the key resistance offering us different options to short the market.