General Market Outlook - September 21st, 2014
I'm going to be completely honest, I didn't have time to watch the markets at all this week. I literally just opened my charts right now, for the first time this week. So keep that in mind when you're reading this week's analysis.
PS: It's a busy time in my personal life right now, I won't go into details but things won't settle down until the end of October ish. So depending on how things pan out, I may have to take an early leave in November (instead of December).
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AUD/USD (Bullish) - Consider loading longs in the mid to high 0.88XX region (stops below the blue trend line)
EUR/USD (Bullish) - Consider loading longs between 1.275/1.28 (stops below 1.275)
GBP/USD - I believe Scottish vote was the 'big thing' this week, didn't watch it though but from the looks of it, cable went from 1.63 to 1.65 and back.
USD/CAD - No comment
USD/JPY (Bearish) - Broke upper trendline of the wedge, hope you guys had stop losses in place and went long, up to the descending trend line above. Price already bounced off the descending trend line by a bit. Since this is a bigger timeframe trend line (monthly chart), you'll want to set super wide stops. WARNING: This trade is not for people with small accounts or weak stomachs.
XAG/USD (Bearish) - Finally broke the descending triangle and price is tumbling down. Great time to load up on physical bullion. I usually buy on the way down because the bullion dealers here usually have trouble filling orders at the bottom.
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Note: Refer to last week's General Market Outlook if something doesn't make sense.
Risk Disclaimer: My analysis is provided solely as an educational tool. Should you decide to trade based on my analysis, do so at your own risk. I am not liable for any loss that you may incur. Do not trade with money you cannot afford to lose.
Trade Disclosure: All open positions are disclosed above, if I don't mention having one then it should be assumed at all times that I plan to trade based on my analysis, so take this into consideration as I may be biased.
PS: It's a busy time in my personal life right now, I won't go into details but things won't settle down until the end of October ish. So depending on how things pan out, I may have to take an early leave in November (instead of December).
-------------------------------------------------
AUD/USD (Bullish) - Consider loading longs in the mid to high 0.88XX region (stops below the blue trend line)
EUR/USD (Bullish) - Consider loading longs between 1.275/1.28 (stops below 1.275)
GBP/USD - I believe Scottish vote was the 'big thing' this week, didn't watch it though but from the looks of it, cable went from 1.63 to 1.65 and back.
USD/CAD - No comment
USD/JPY (Bearish) - Broke upper trendline of the wedge, hope you guys had stop losses in place and went long, up to the descending trend line above. Price already bounced off the descending trend line by a bit. Since this is a bigger timeframe trend line (monthly chart), you'll want to set super wide stops. WARNING: This trade is not for people with small accounts or weak stomachs.
XAG/USD (Bearish) - Finally broke the descending triangle and price is tumbling down. Great time to load up on physical bullion. I usually buy on the way down because the bullion dealers here usually have trouble filling orders at the bottom.
-------------------------------------------------
Note: Refer to last week's General Market Outlook if something doesn't make sense.
Risk Disclaimer: My analysis is provided solely as an educational tool. Should you decide to trade based on my analysis, do so at your own risk. I am not liable for any loss that you may incur. Do not trade with money you cannot afford to lose.
Trade Disclosure: All open positions are disclosed above, if I don't mention having one then it should be assumed at all times that I plan to trade based on my analysis, so take this into consideration as I may be biased.
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