Accumulation and a breakout pattern are showing signs that TLRD will likely see gains of roughly 20%-30% within a 3-6 month timeframe. The stock has also outperformed expectations with every earnings call for the last year. I've taken a relatively high-risk call position with a $5 target, expiring on Feb 21st. That may be too soon for the movement, but I expect it...
The fundamentals do not seem to be in Boeing's favor, and price action on the Weekly looks like a textbook example of a Wyckoff distribution pattern. I'm expecting this to be a pretty reliable short this year, save for the risk of manipulation due to the amount of significant players with NYSE:BA exposure.
I suggest looking for long opportunities on GBPUSD. This retrace happened extremely quickly and fell to a fairly extreme degree. It would not surprise me to see this soon continue rising, albeit slowly.
While I think EURUSD is about to enter a bit of a bearish season, I don't know that the season has arrived just yet. I'm expecting a bull run this week, with bearish pressure settling in for the next couple of months perhaps at the end of this week (if NFP is strong) or within the next week or so after that.
While I suspect GBPUSD has one more bull run, I think the medium/long-term direction will be down until their next rate hike is closer on the horizon. Watch for a bounce if it reaches that rising trendline, around the low 1.33000s most likely. Hard to say how high it would go. I'd take profit on any GU buys when the DXY looks like it's clearly bottomed.
While it seems the USD is just about set to make a major recovery/rally until the December rate hike, (which the Fed is evidently going to make happen regardless of inflation numbers), I suspect we just might have one more dip/retest of the sharper broken trendline. I suggest buying the USD/taking profit on any anti-USD trades when this dip appears complete.
After the first descending trendline broke last week, the outlook is slightly mixed at the moment. However, I'm still bearish until this red trendline from the daily chart breaks, and I'll likely sell the USD/buy against it if this trendline is tapped again.
At the moment, it's looking like USDJPY may respect the trendline between January's high and July's peak. If it does, this could ultimately test back to the bottom of the channel again, reaching at least the 107s. Here I'll be testing one short for a mid-way TP and one for a TP to-be-decided. If this level breaks, we could see 114 tested yet again, at which point...