BitterSweetMarkets

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Markets Allocation
60 % forex 16 % stocks 6 % indices 18 % other
Top Mentioned Symbols
GOLD 5% | 4 GBPUSD 4% | 3 JPYBGN 4% | 3 USDJPY 4% | 3
BitterSweetMarkets BitterSweetMarkets PRO USDJPY, W, Short ,
USDJPY: A swing trade set up for USD/JPY
47 0 3
USDJPY, W Short
A swing trade set up for USD/JPY

Due to geopolitical factors, overall uncertainty, the growth in Europe and the forecast for a stronger euro could suggest the decline in the dollar amongst other reasons is far from over. That being said it can still advance on the yen, so caution is always needed ! Lets see if we can break through the April lows support area...A short can be taken below 10800 ...

BitterSweetMarkets BitterSweetMarkets PRO GBPUSD, W, Short ,
GBPUSD: GBP/USD further downside expected...
31 0 3
GBPUSD, W Short
GBP/USD further downside expected...

The Bulls should be rattled by the sharp sell off last week after being rejected exactly at the falling trend line which has provided reliable resistance since mid 2014. If we break through the lower support line of the rising wedge pattern which is well and truly formed that should be a good enough sell signal to go short (based on this chart pattern).

DE30EUR: Dax testing triple support cluster.
32 0 1
DE30EUR, W
Dax testing triple support cluster.

A convincing break through the support cluster and it might be worth boarding this trend as further downside seems likely. Alternatively if the Bulls step in and push the price above the upper trend line of the falling wedge and it holds on the Daily chart then a long can be taken.

USDJPY: USD/JPY ASCENDING TRIANGLE
30 0 1
USDJPY, D
USD/JPY ASCENDING TRIANGLE

It could be worth trying a long if the rising trend line support holds, alternatively a break, close and hold on the daily below support would suggest the Bears are still in full control and a short is the one to go for...

GOLD: Gold about to test rising trend line support..
63 0 4
GOLD, D
Gold about to test rising trend line support..

Heads up !! keep an eye on price action at the rising trend line, the Bulls will step in as prices test trend line support....they need to defend this area...if they don't i would expect to see significant downside..

BitterSweetMarkets BitterSweetMarkets PRO AUDNZD, D, Short ,
AUDNZD: AUD/NZD Inverted Cup 'n' Handle
60 0 4
AUDNZD, D Short
AUD/NZD Inverted Cup 'n' Handle

In my opinion wait for the price to convincingly break through the support cluster and hold before going short. First target Jan 2017 lows.

BitterSweetMarkets BitterSweetMarkets PRO JP225USD, D, Short ,
JP225USD: JAPAN 225 HEADS FOR R. ZONE
17 0 2
JP225USD, D Short
JAPAN 225 HEADS FOR R. ZONE

It might be worth keeping your eye on this one if you like these particular patterns, they appear to be developed and so although the cup is a continuation pattern to be complete requires some kind of pull back (handle). As always confirmation is needed and timing essential as every pattern has a failure rate..! Happy Trading !!!

NZDUSD: NZD/USD Testing resistance..
33 0 4
NZDUSD, W
NZD/USD Testing resistance..

A falling wedge pattern has formed over many weeks, it may still be forming and so we wait for price action at resistance to help us understand where we go from here...Confirmation is needed...so lets wait a day or two !!

XCUUSD: Copper testing trend line resistance.
46 0 4
XCUUSD, D
Copper testing trend line resistance.

A breakout of the down channel puts the bulls back in control and we could well see this metal test resistance...Thats the preferred trade given the higher lows over the recent sessions. But we can't rule out further downside and so now is not the time to enter a trade. Early next week would be better timing !

GOLD: Gold broke 6 year falling resistance trend line !!
117 0 6
GOLD, M
Gold broke 6 year falling resistance trend line !!

This could be the beginning of a bull market for gold 0.13% . Its early days yet but since today it has convincingly broke through that solid 6 year bearish resistance trend line , you have to consider the possibility of a change in direction..coupled with that the dollars not looking to clever at this moment in time. What will be a screaming buy signal is if and ...

BitterSweetMarkets BitterSweetMarkets PRO GOLD, M, Long ,
GOLD: Gold broke 6 year falling resistance trend line !!!!
71 2 4
GOLD, M Long
Gold broke 6 year falling resistance trend line !!!!

This could be the beginning of a bull market for gold. Its early days yet but since today it has convincingly broke through that solid 6 year bearish resistance trend line, you have to consider the possibility of a change in direction..coupled with that the dollars not looking to clever at this moment in time. What will be a screaming buy signal is if and when it ...

NZDCAD: NZD/CAD Testing multi year Resistance.
50 0 3
NZDCAD, W
NZD/CAD Testing multi year Resistance.

NZD/CAD is at this critical level again, first tested back in 2014. The next two to three days could give clues as to where we go from here.

USDTRY: USD/TRY FALLING WEDGE PATTERN.
207 0 4
USDTRY, D
USD/TRY FALLING WEDGE PATTERN.

Watch for price action at the (orange) eclipse. A break & close above the upper trend line suggests the pattern is complete giving us a buy signal. If resistance holds at the upper trend line then a short trade back to support can be taken, wait for the price to fall below the eclipse for confirmation.

EURGBP: EUR/GBP Testing trend line Resistance.
38 0 6
EURGBP, D
EUR/GBP Testing trend line Resistance.

Watch for a close above the line to go Long..Alternatively below the eclipse is where i would enter a short closing at support..

BitterSweetMarkets BitterSweetMarkets PRO AUDUSD, 240,
AUDUSD: Eyes on..AUD/USD
20 0 2
AUDUSD, 240
Eyes on..AUD/USD

AUD/USD pair in a 3 month downtrend, once again testing trend line resistance. Break and close above on the Daily chart and prices could advance, The most likely scenario would be further downside as we stay inside the channel...

BitterSweetMarkets BitterSweetMarkets PRO GBPUSD, D, Short ,
GBPUSD: GBP/USD approaching resistance...
38 0 2
GBPUSD, D Short
GBP/USD approaching resistance...

Look for price action behaviour around the resistance level, keep an eye on the BB's squeezing tighter, remember this is the Daily chart so it should fire nicely at some point in the near future. It would be more convincing if the rising wedge would form a little more. At this stage i'm looking at shorting this pair within the next 1 to 5 days.

BitterSweetMarkets BitterSweetMarkets PRO EURCHF, D, Short ,
EURCHF: EUR/CHF Testing Resistance
36 2 3
EURCHF, D Short
EUR/CHF Testing Resistance

Strong resistance coupled with a bearish divergence indicator could suggest a pullback is imminent. Stops required above 1.10000

BitterSweetMarkets BitterSweetMarkets PRO CADCHF, W, Short ,
CADCHF: CAD/CHF Ascending triangle
41 0 5
CADCHF, W Short
CAD/CHF Ascending triangle

A break and close below the lower trend line should offer an opportunity to go short. The long term trend line (blue) should give clues as to whether or not this idea is going to play out or not...

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