EURUSD: Further extreme Dollar weakness looks in store for Monday. The target given by the reverse head and shoulders off the bottom here continues to say 113.80 but ultimately the Euro should reach 115 before swing traders should consider shorting the Euro again. The big change in prevailing wind was only confirmed on Friday. There is much more to go for. Try to...
USDJPY: USD pushing up against resistance here and a perfect shorting opportunity with a stop close by at 113.02 with a downside target at 101 in two more waves of selling over the Spring
USDGBP: Dollar should contine to decline to a downside target at 0.707 in three stages as per comment. Also please check the EURUSD comment from Friday - still 3+ Eu updside to go in near term
Tesla: Damn if it didn't do exactly what a good bear didn't want it to do. Just hope you got to see the updates to last comment on Friday.
DXY: Dollar index has broken down and is now facing severe selling pressure down to 96.8, if not to 95.85
AUDUSD: the US Dollar looks like it's going to collapse on Monday with a strong Euro and GBP the drivers. But it will sweep AUD up in the tailwinds, creating a counter-rally and dragging it back up to .7473 (if you buy sell half here) and more likely up to .7515 (sell other half here) where it becomes a fabulous short once more.
Tesla: Approaching major resistance and a perfect short again for day traders
EURUSD: The Euro should gap up on Monday and surge to 1.143. So 4 EU upside Vs I EU downside
Gold has broken down and should hit 1201 next week. But in very near term it's staging a minor rally within what is now developing into a medium term downtrend. Levels to watch today. PLEASE check CRB index comment if you trade Gold. It will help you understand and stay on the right side of the bigger picture...
NBI: Nasdaq Biotech Index: In the doldrums for 2 years now the NBI is showing signs of life again. Too early yet, but once 3172 is broken decisively by more than 5 points this index should surge to 3575. Worth setting up an alert for this one.
Cac 40 Index: Broken out and heading for 5790-5860 range, with 400 to 500 points upside still left in it in near term. Get long before the weekend and ride the rally, or sell into strength come Monday
S and P 500 Vs Dax and Cac. Both Europeans have made major breakouts today and have over 400 points upside in them over the Summer with great charts. They're going to continue to outperform the S and P now with the French election is a foregone conclusion. Don't stand on the sidelines. Follow it before it's too late!
NASDAQ 100: Having surged right up to FB results both are temporarily spent and consolidating recent gains. FB is still vulnerable whilst below 151.55, which means this index is likely to experience more sideways movement too in near term, but it's still positive whilst above 5573
FACEBOOK: This stock is still vulnerable to further near term selling pressure whilst unable to trade back above 151.55 and hold there.
CRB INDEX tesing critical support at 176.721. This level separates the last Bulls from the Bears. If it fails at any point by more than 10 pips it will turn already poor technicals even more bearish and signal another significant down-wave across most complexes associated with this index has begun.
XCUUSD Copper Spot: Interesting chart pattern that offers opportunity for shorter term traders and a great short set-up with 10% downside if triggered later this Spring
USOIL: WTI has broken down recently and remains under presssure whilst unable to trade back above 46.8-47-0. It should fall away to 45 and then, after a bounce, to 44.5
UKOIL: Brent Crude Spot - testing and now breaking below critical support at 49.58. Failure here signals further significant weakness back to 45.89