I would like to see how the market opens next week.
- If resisted, it will probably head down towards the support levels at 0.6868
- If breaks above, it will at least head towards the next resistance levels at 0.7000/15
Let's see how this pans out next week.
An old friend was asking about the NZD vs the SGD
I see support at the 0.8900 levels (for every 1 New Zealand Dollar, you need 0.89 Singapore Dollars)
We are currently at 0.8970, close to the support zone.
I spotted a bullish Deep Crab forming lower at the 0.69 level
- Aussie wage number came in lower than expected
- Chinese economic data losing steam
obviously it does not help that the tension of the US-China trade war is building up
I would expect the AUDUSD to continue drifting lower. Giving us the potential buy trade at the completion of...
Spotted Bullish Gartley Pattern to go long around the 141.80 levels
Will be looking to go long at these levels
However if the price moves higher towards the resistance levels (143.70/144.00) there could be an opportunity to short all the way down to the completion of the Bullish Gartley
Previous week, the pair completed a Bearish Gartley Pattern
Currently forming a smaller Bearish Bat Pattern
Looking to take a short when the price tests the Gartley PRZ and completes the smaller Bat Pattern
If you have been following me for awhile, you will probably know that I trade mainly the currency pairs, occasionally gold, silver, oil and the Indices.
I have traded BTC only once ever ever ever in my trading life. It was a winning one too :) (See related post attached) - just realised it was more than a year ago
However I see an opportunity coming...
Is there something brewing in Europe, particularly in Germany ?
Spotted a completed Bearish Shark pattern on the H4 and now a Bearish Butterfly pattern on the H1.
Let's monitor and see how the markets open next week.
Spotted a Shark Pattern completing lower at around the 0.7062/78 levels
This downside potential to the AUDUSD this coming week is in line with the Risk Off scenario as the S&P is seen to be breaking and closing below the support Trend Line
On Friday, the stock market opened with a gap down and continued to see down pressure the whole day to close lower. It actually closed below the Trend Line support and we could potentially see more downside early next week.
Analysing this S&P chart, I see potential risk off for the coming trading week. Let's analyse other currency pairs to see if this support...