BlueberryMarkets

BlueberryMarkets

This week we were looking for GBP to continue the sell-off as Theresa May continues to be criticised by parliament for her current draft agreement with the EU. Despite the EU accepting the draft agreement, parliament will likely reject PM Mays plans which will cause further disruption to the GBP. We only see downside to this market for now and looking to pair the...

BlueberryMarkets

AUDJPY has seen a boost higher at the key weekly support. We expected downside here if the price could break and close below the lows. Despite the market breaking lower, we did not get a confirmed close lower. The 4hr timeframe has now broken through trendline resistance and formed a higher high, higher close with our moving averages also pointing bullish. If...

BlueberryMarkets

GBPAUD has been bearish for a while now and with Brexit volatility looming we could see further downside here. Price is currently testing the moving averages and key resistance of 1.7750. Applying trendline support we could expect a breakout if this market breaks and closes below the trendline support. 1st targets come in around the key support at 1.7360....

BlueberryMarkets

Looking at the EURUSD this week we can see the market is holding at the key support area of 1.1300. With the potential for USD downside, we could see this market head back towards the resistance of 1.1750. If we see the market form bullish price action here we can look for the long trade. If you are slightly more adhere to risk, look for the neckline break on the...

BlueberryMarkets

The bond market is a place where traders can gauge the strength or weakness of a currency. Typically when looking at the US 30YR Government Bonds, if the price of the bonds increases it tells us that traders are willing to invest into the US economy for the long term. This then should show that the USD is likely to increase in price. If the price of the bonds...

BlueberryMarkets

EURJPY looks likely to break lower towards the key support of 125.60. Our moving averages remain bearish on the daily timeframe adding to our confluence that price could break lower. If the trendline support highlighted by the purple trendline sees price break and close below we will look for short opportunities on the lower timeframes and trade towards the key support.

BlueberryMarkets

Price action here suggests further downside is to come here. Typically when we see strong continuation moves the retracement is shallow with small range candles. This is showing a lack of buyers at this point in this example on USDCHF. The 10 and 20 EMA have also crossed bearish adding to our confluence of further downside to come. If the market does want to...

BlueberryMarkets

BRENT CRUDE OIL is finally back into the key support level of 62.30. Price is starting to find some support here and we are expecting the market to see some relief here with a push back into the resistance of 70.40. Looking for a change of cycle on the 4hr timeframe before trading the weekly retracement.

BlueberryMarkets

As we expect the USD to move lower, we look to the USD crosses to see if they're any trading opportunities on the horizon. USDSGD has been struggling to climb above the highs of 1.3850 and has moved lower. Looking at this market technically we can see the moving averages have crossed bearish and currently the market is rejecting them. A move lower down to the key...

BlueberryMarkets

NZDUSD is preparing to move higher potentially forming a double bottom at the previous higher timeframe structure highs. NZD will take advantage of the lower USD and we expect this market to head towards the key resistance of 0.7000. Technically we can see the market is finding support and if we see a break and close above the trendline resistance we can look...

BlueberryMarkets

AUDCHF is another market we have focused our attention on due to the CHF strength we are currently seeing in the market. AUD has seen some short-term weakness this week and could be set to re-test the key support of 0.7140 before longer-term buy opportunities come into play. Technically we have our moving averages in the right direction and if we see a break and...

BlueberryMarkets

EURCHF has been on our watchlist for some time now as it struggled to break the weekly resistance at 1.1470. Looking at the 4hr chart we can see the market closed below the previous daily lows where we could see further downside from. Typically when the market trends we see a re-test of previous lows for continuation, if we see bearish price action here we will...

BlueberryMarkets

We have been looking for the USD to sell off this week due to FED Chairman Powell less hawkish position on the US economy and the false break of the $97.00 resistance. Looking at the daily chart here we can see that the market may be looking to re-test the $97.00 resistance and if we are to see the USD sell-off we should see this pattern complete. A break of the...

BlueberryMarkets

Looking at the latest COT Reports we can see Commercial long contracts back above 200k. Typically when this happens we see a weekly rally out of GOLD. Looking for long opportunities here on pullbacks. A re-test of $1215.00 will be ideal to look for the continued long trade into the key resistance of $1240.00.

BlueberryMarkets

Recent comments from the RBA Governor Lowe has put the dampeners on any potential rate hike as he states they are starting to get concerned with credit supply. We are bullish on the AUDUSD market however we could see some potential short-term trades to the downside. If the market can break below the current support level of 81.40 we could see this market continue...

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BlueberryMarkets

In today's video update, we go through NZDCHF. This currency pair has been rising for a few weeks now and could correct back down into key support before continuing on its uptrend.

BlueberryMarkets

With the buying of safe havens we have seen a reprise in CHF strength which we saw slightly last month with no follow through. Technically we have taken out the supporting trendline from the daily timeframe and the 4hr is now forming lower lows and lower highs. This is a great market to look to trade now and we will be waiting for price to pullback into the moving...

BlueberryMarkets

As political risk looks to be taking the spotlight again with President Trump re-iterating his stance on China and the current trade tariffs we have seen a shift from risk on to risk off and the buying of safe haven currencies. USDJPY looks set to continue its current downside after breaking through the supporting trendline after failing to break above the 114.00...