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3canalysis

Dax - Bearish Into the Open Momentum indicators are diverging, and at 5 ½ month highs futures are testing a large open window at 13538.0. While bullish signals for Q3 are being confirmed, signals for this week and for Tuesday have pointed to staying square on the open and to selling the rally. This is so far being confirmed, as a bullish gap open on Tuesday and initial gains of over 200 Pts has attracted sellers and for sentiment to close little changed on the day. The formation of a daily Shooting star highlights bullish exhaustion and with signals pointing lower the outlook for Wednesday is bearish and the call is to sell only modestly on the open and then at 13190.0 with a stop loss at 13304.5, yesterday’s high. Targets are to 12963.5, this week’s open, 12792.5, this week’s low and 12515.0, the 14th July base
EUREX:FDAX1!Short
by ThreeCAnalysis
SP500 - Cautiously Bullish into the OpenThis week’s signals are bullish and these are so far being confirmed with Monday’s almost 60 Pt gain. However, selling from ahead of June’s top has switched signals in each of the last 2 days to temporarily bearish. These too have been confirmed with Wednesday posting initial losses of 20 Pts. Those losses have been recovered and although there is no clear bullish reversal pattern intraday signals have improved the outlook for Thursday reverts to cautiously positive and the call is to buy on the open and then at 3140.0 with a stop loss at 3125.5, yesterday’s low. Targets are to 3184.0, this week’s top, 3200.0 and 3220.5, June’s high trade.
CME_MINI:ES1!Long
by ThreeCAnalysis
Gold - Cautiously Bullish A rising trend of higher quarterly lows have kept longer-term signals bullish for some time and despite sentiment which is much overstretched near an 8 year top signals in each of the last 3 weeks have continued to point higher. These have been confirmed with last week posting a 4th higher weekly low in a row though for only modest gains. The potential for profit taking pullbacks is high, but these should remain temporary and the outlook for this week stays bullish and the call is to buy just modestly on the open and then at 1761.0, the 13 day average rate with a stop loss at 1743.4, the 2 week base. Targets are to 1788.6, last week’s peak. 1796.3, the 2012 top and then towards 1820.0, the projection from a Head & Shoulders bottoming pattern.
COMEX:GC1!Long
by ThreeCAnalysis
USDCAD - Sell Rally to 1.3695Monday’s loss of topside momentum, and the end to a sequence of higher daily lows kept Wednesday’s signals pointing lower. These were confirmed with sentiment posting a 3rd lower daily high in a row, though for only modest losses. A recovery to close unchanged hasn’t offered a bullish reversal pattern, but it does leave Thursday’s bearish signals much more cautious and the call is to stay square on the open and to sell on the rally at 1.3695, Tuesday’s high with a stop loss at 1.3772, June’s opening trade, or to sell down through 1.3545, yesterday’s low with a stop loss at 1.3620. Targets below 1.3545 are to 1.3493, the 200 day average rate and 1.3412, the 11th June open.
Short
by ThreeCAnalysis
GBPUSD - Cautiously Bearish and Sell 1.2420 RallyA near 14 Big Fig rally since March’s 25 year low at 1.1409 has stalled in June from close to the key daily average rates and signals in each of the last 2 weeks have pointed to staying short and selling the rally, last week at 1.2488. This was the correct strategy as initial gains of 2 Big Figs attracted sellers from in between the 100 & 200 day lines and for sentiment to deteriorate for an unchanged close. This is negative, but until the last 5 week Marabuzo line is broken the outlook for this week remains just cautiously bearish and the call is to sell modestly on the open and then at 1.2420, Friday’s opening trade with a stop loss at 1.2568, the 18th June top. Targets are to 1.2260, the last 5 week Marabuzo line, 1.2173, the last 5 week open and 1.2072, May’s base.
Short
by ThreeCAnalysis
NZDUSD - Bearish and Sell .6437 RallyDespite Tuesday closing little changed yesterday's signals pointed just cautiously lower. This outlook was proven correct as sentiment gave up this week's initial gains via a lower daily high & low with losses of just over 1 Big Fig. As such, signals for Thursday remain bearish and the call is to sell at the open and then at Wednesday's low at .6437 with a stop loss at yesterday's London high at .6470. Targets are to Monday's low at .6384, the 200 DMA at .6324 or even the Jun 2 bottom at .6263.
Short
by ThreeCAnalysis
AUDJPY - Cautiously Bullish Last week’s signals pointed to staying short and selling the rally and this week’s signals have continued to point cautiously lower. However, initial losses on Monday have attracted buyers back to the market from ahead of last week’s base and the 200 day average rate, sentiment recovering to post a gain of 1 Big Fig and end a sequence of lower daily highs. The rally is probably corrective profit taking and should be temporary, but with no sign yet that it is ending the outlook for Tuesday is cautiously bullish and the call is to buy modestly on the open and then at 73.37, yesterday’s afternoon low with a stop loss at 72.70, yesterday’s overall base. Targets are to 74.31, Wednesday’s high, 75.09, last week’s top and 75.61, the 10th June high trade.
Long
by ThreeCAnalysis
1
GBPUSD - Bearish & Sell RallyLast week’s signals switched to bearish and pointed to selling the rally at 1.2644. This was close to the high and confirmed with losses of 3 ½ Big Figs since Tuesday’s 1.2689 high. A sequence of higher weekly lows have been ended and prices are trading below their key daily average rates which is negative for sentiment. With no sign that the deterioration is ending the outlook for this week remains bearish and the call is to sell modestly on the open and then at 1.2488, Thursday’s Marabuzo line with a stop loss at 1.2606, the 200 day average rate. Targets are to 1.2260, the last 4 week Marabuzo line, 1.2163, the 4 week low and 1.2072, May’s base.
Short
by ThreeCAnalysis
NZDUSD - Neutral Signals, Trade a BreakA bullish reversal at the daily level on Monday, supported by the 13 daily average rate left signals for Tuesday as bullish. This stance was proven correct, with prices posting a 2nd higher daily high & low in a row. However, sellers have returned to the market, prices declining almost 1 Big Fig, and closing little changed. Trend signals for Wednesday are thus weak and the call is to remain neutral from in between Tuesday's .6414 - .6507 range. Losses through .6414 target Monday's low at .6381 or even the 200 DMA at .6322, while gains through .6507 targets last week's top at .6584 or even the Jan 24 high trade at .6629.
by ThreeCAnalysis
FTSE - Cautiously Bearish Bullish signals for Q2 and in each of the previous 3 weeks had been confirmed, but a near 1,750 Pt improvement since March’s 9 year low had left daily signals for sentiment overstretched and testing the 62% recovery to the entire 2020 sell-off, keeping last week’s signals just very cautiously bullish. An initial over 50 Pt improvement has in fact attracted profit selling, sentiment deteriorating by over 500 Pts from the top. The sell-off is probably corrective and temporary but in the absence of a buy signal the outlook for this week is bearish and the call is to sell on the open and then at 6204, Thursday’s Marabuzo Line with a stop loss at 6388.0, Wednesday’s top. Targets are to 5993, Friday’s Low, 5888.0, the 22nd May base and 5645.0, May’s low trade.
TVC:UKXShort
by ThreeCAnalysis
GBPUSD - Signals Turn Bearish A rising trend of higher weekly lows and gains above the key daily average rates have kept this week’s signals pointing higher and to buying dips. Wednesday’s signals were also bullish and these were confirmed with sentiment posting a 9th higher daily high in a row and an initial gain of ¾ Big Fig. However, sellers have returned to the market from close to March’s open and further selling in Asia this morning has temporarily weakened sentiment. The outlook for Thursday is therefore bearish and the call is to sell on the open and then at 1.2730 with a stop loss at 1.2765, just above today’s Asia high. Targets are to 1.2618, this week’s low, 1.2582, Friday’s base and 1.2516, the 100 day average rate.
Short
by ThreeCAnalysis
NZDUSD - Cautiously Bearish With prices reaching 4-month highs after gains of almost 3 ½ Big Figs through a sequence of 5 consecutive higher daily highs & lows last week, signals are bullish for this week. The bullish outlook is being proven correct as Monday posted the 6th higher daily high & low in a row, with further gains of over ½ Big Fig, exceeding last week's top at .6528 and reaching .6567. Further gains were posted in today's Asia session, prices reaching our 1st weekly target at .6581. However, prices are extended at the daily and intraday levels, and the first signs of bearish divergence in momentum have appeared. As such, the call is to sell just modestly at the open and then at yesterday's high at .6567 with a stop loss at .6600. Targets are to yesterday's low at .6505, the June 4th top at .6478, or even the June 3 top at .6444.
Short
by ThreeCAnalysis
USDCAD - Short with CautionLast week’s signals continued to point lower and these were confirmed as all our downside targets were met with sentiment posting a 4th lower weekly high & low in a row and with losses of almost 4 Big Figs taking prices below their 200 day average rate. With no sign that the deterioration is ending, but with daily sentiment oversold and testing March’s 1.3303 base, the outlook for this week remains just cautiously bearish and the call is to sell only modestly on the open and then at 1.3573, Wednesday’s high with a stop loss at 1.3675, the 13 day average rate. Targets are to 1.3303, March’s low, 1.3201, February’s base and 1.2956, this year’s low trade.
Short
by ThreeCAnalysis
USDCAD - Cautiously ShortLast week’s signals continued to point lower and these were confirmed as all our downside targets were met with sentiment posting a 4th lower weekly high & low in a row and with losses of almost 4 Big Figs taking prices below their 200 day average rate. With no sign that the deterioration is ending, but with daily sentiment oversold and testing March’s 1.3303 base, the outlook for this week remains just cautiously bearish and the call is to sell only modestly on the open and then at 1.3573, Wednesday’s high with a stop loss at 1.3675, the 13 day average rate. Targets are to 1.3303, March’s low, 1.3201, February’s base and 1.2956, this year’s low trade.
Short
by ThreeCAnalysis
1