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Australia

OIL BOUNCE BACK ON THE CARDSUSOil has bounced back from the $50.00 level and could see further upside. OPEC has agreed to cut production, this will limit the supply and increase demand for the commodity. As demand increases so will the price and we should see some relief to the current downside we are seeing in Oil. Looking at the 4hr chart we can see that the market has formed higher highs and the moving averages have now crossed bullish. Applying Fibs we can see the 61.8 retracement is sitting at the previous structure highs and would be an area of interest if the market formed bullish price action here. 1st targets up at the 127.2 fib extension and follow the 4hr trend higher.
TVC:USOILLong
by BlueberryMarkets
2
USD LIKELY TO MOVE AS TRUMP AGREES SHORT TERM TRUCE WITH CHINAOver the weekend we saw headlines out of the G20 meetings and in particular a sort of truce between Trump and China with regards to current trade tariffs. They have put a hold on trade war spats for a few months to come to a fair agreement between the 2 nations. This will likely help the stock markets move higher with a move back to risk on. Buying the Indexes and some selling of the USD. However, time will tell how long this will hold up for. If we see a break and close above the $97.00 we should see some upside to the USD, a break below the supporting trendline further downside will occur. Patience is key here to see clear direction before getting involved.
TVC:DXY
by BlueberryMarkets
All readied up for long the autralian indexI am seing the australian stock market selloff slowing down, following a selloff due to the global fear in the world that produced dumps of everything. Going to keep an eye on the dow. Right now the dow is the big bubble in the world, and it is where every one has some money. The whole market cap is insane, in particular you got the top us (and some chinese) tech stocks that have ginourmous market caps. Funny how Wallmart makes 500 billion in revenue (10 bil net income) but its market cap is far behind, while Amazon with 1/3 revenue & net income (175 bil & 3 bil) has this monstruous market cap for the simple reason of being a "tech" thing... Most tech stocks are... Apple is a crazy company and even Buffet bought shares close to ath, their net income dwarfs all the rest at 60 billion btw... BUT if we go into a recession people are not going to feel rich and are not going to buy overpriced "luxury tech". The whole Apple success is super fragile in my opinion. I see the dow going into some kind of complacency OR going to make a triple top. Unless it dumps hard it will not prevent Australian stocks from bouncing. Back to the subject. To make this simple, Australian PE ratios are at average, even in the lows compared to the past 20 years, the dividends are ok, pretty average. The country is not in any trade war, there is no drama around it, its companies are solid and yes the us dollar going up might hurt them a little, but Oil is also going down not so much a big deal for them thought. Here are the biggest companies: Australia and New Zealand Banking Group Aristocrat Leisure Amcor AGL Energy Australian Stock Exchange APA GroupStapled Security Aurizon AMP Alumina Bank of Queensland Australia is one of the richest country in the world (by person ofc), behind Luxembourg Switzerland and all the small places. Like the swiss they are very service oriented & in particular in banking etc. Do not want to go super in depth, but to make this simple there is no reason for it to go down massively it's all fear because the the overvalued us tech stocks. The FED talking about hiking rates in december so eyes open... Maybe Aus bounces before that and we can get run away with our profits before this happens :bitconnect:. Dax and Cac 40 are in the same boat Will patiently wait for my target to get reached and go long unless there is a terror attack or something. Oh and also, bullish divergence on oscillators.
ASX:XJOLong
by MrRenev
GBPCHF CONTINUATIONThis week we were looking for GBP to continue the sell-off as Theresa May continues to be criticised by parliament for her current draft agreement with the EU. Despite the EU accepting the draft agreement, parliament will likely reject PM Mays plans which will cause further disruption to the GBP. We only see downside to this market for now and looking to pair the GBP against stronger currencies such as the CHF. Technically the market is in a downtrend and has re-tested resistance and the moving averages. Targets come in at the support of 1.2640.
Short
by BlueberryMarkets
AUDJPY SHORT-TERM UPSIDEAUDJPY has seen a boost higher at the key weekly support. We expected downside here if the price could break and close below the lows. Despite the market breaking lower, we did not get a confirmed close lower. The 4hr timeframe has now broken through trendline resistance and formed a higher high, higher close with our moving averages also pointing bullish. If price re-test the minor structure highs we could look for a short-term trade into the highs around 82.70.
Long
by BlueberryMarkets
GBPAUD BREAKOUT PATTERNGBPAUD has been bearish for a while now and with Brexit volatility looming we could see further downside here. Price is currently testing the moving averages and key resistance of 1.7750. Applying trendline support we could expect a breakout if this market breaks and closes below the trendline support. 1st targets come in around the key support at 1.7360. Alternatively, we could wait for a double top pattern to form here before seeing further downside.
Short
by BlueberryMarkets
EURUSD INVERSE HEAD AND SHOULDERS PATTERNLooking at the EURUSD this week we can see the market is holding at the key support area of 1.1300. With the potential for USD downside, we could see this market head back towards the resistance of 1.1750. If we see the market form bullish price action here we can look for the long trade. If you are slightly more adhere to risk, look for the neckline break on the head and shoulders to confirm the move before looking for the long opportunity.
Long
by BlueberryMarkets
USD SHOULD FALL IN LINE WITH 30YR GOVERNMENT BONDSThe bond market is a place where traders can gauge the strength or weakness of a currency. Typically when looking at the US 30YR Government Bonds, if the price of the bonds increases it tells us that traders are willing to invest into the US economy for the long term. This then should show that the USD is likely to increase in price. If the price of the bonds decrease it tells us that traders are unwilling to invest in the US economy for the long-term and that we should expect the price of the USD to fall. Currently, the 30YR Bonds are struggling to increase any higher and we could likely see a fall in price back to the highs in May. This tells us that the USD could fall lower in the coming weeks. Keep an eye out for this correlation and try looking at the past history using the compare tool here on TradingView.
TVC:US30YEducation
by BlueberryMarkets
USDCHF CONTINUATION LOOKS LIKELY Price action here suggests further downside is to come here. Typically when we see strong continuation moves the retracement is shallow with small range candles. This is showing a lack of buyers at this point in this example on USDCHF. The 10 and 20 EMA have also crossed bearish adding to our confluence of further downside to come. If the market does want to test a key area of resistance, the Fibonacci retracement tool has highlighted a short-term resistance level which the market could re-test before continuing lower.
Short
by BlueberryMarkets