USDSGD POTENTIAL HEAD AND SHOULDERS PATTERN: ANALYSIS USDSGD HAS APPROACHED A KEY RESISTANCE LEVEL AND THE 1HR CHART
IS POTENTIALLY FORMING A HEAD AND SHOULDERS PATTERN.
TYPICALLY, WHEN YOU SEE THESE PATTERNS AT KEY RESISTANCE ZONES
WE ARE LIKELY TO SEE A REVERSAL. IF PRICE CAN BREAK AND CLOSE THROUGH THE
NECKLINE WE CAN LOOK FOR SHORT OPPORTUNITIES.
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USDCAD BACK AT KEY RESISTANCE: ANALYSISTHE DAILY CHART IS BACK INTO THE 20 MOVING AVERAGE WHERE SELLERS MAY RE-ENTER THE MARKET.
PRICE ON THE 4HR CHART IS CURRENTLY REJECTING THE TOP OF THE CHANNEL RESISTANCE. IF PRICE ACTION TURNS
BEARISH HERE WE COULD SEE PRICE HEAD BACK TO THE 1.3300 KEY LEVEL AND DOWN TO THE BOTTOM CHANNEL SUPPORT.
EURUSD TO RETRACE BEFORE DROP: ANALYSISEURUSD LOOKS LIKELY TO CONTINUE LOWER HOWEVER WITH THE CURRENT WEAKNESS IN
THE USD WE MAY SEE PRICES RETRACE 50% OF THE WEEKLY MOVE BEFORE SEEING FURTHER DOWNSIDE.
THE ECB ANNOUNCES INTEREST RATES THIS WEEK AND THE PRESS CONFERENCE IS LIKELY TO RE-ITERATE DRAGHI'S
COMMENTS ON MONETARY STIMULUS. EURUSD REMAINS RANGE BOUND UNTIL WE SEE A CLEAR BREAK OF THE SUPPORT AND RESISTANCE.
FTSE100 DOUBLE TOP PATTERN: ANALYSISFTSE100 HAS REJECTED THE KEY RESISTANCE AND WITH RETAIL TRADERS NET LONG WE COULD
SEE THIS MARKET MOVE LOWER. CURRENTLY PRICE LOOKS TO BE FORMING A DOUBLE TOP PATTERN
THE DAILY CHART. IF THIS PATTERN COMPLETES WE EXPECT THE NECKLINE TO ACT AS RESISTANCE
WITH TARGETS BEEING THE KEY WEEKLY TRENDLINE.
EURUSD DOWNSIDE CONTINUATION: ANALYSISIN THIS VIDEO UPDATE, WE TAKE A LOOK AT THE EURUSD AND HOW IT COULD PLAY OUT IN THE COMING WEEKS.
PRICE IS CURRENTLY FORMING A BEARISH WEDGE PATTERN WITH A HIGH PROBABILITY OF A BREAKOUT TO THE DOWNSIDE.
A BREAK WILL SEE SELLERS ENTER THE MARKET WITH THE TARGETS BEING THE 1.618 FIB EXTENSION HIGHLIGHTING A SUPPORT AREA.
DXY UPDATE: ANALYSISIN THIS VIDEO UPDATE, WE TAKE A LOOK AT THE USD AND HOW IT MAY BE SHAPING UP FOR
THE WEEK AHEAD. LAST WEEKS CANDLE FINISHED AS A STRONG BULLISH CONTINUATION CANDLE
AND WITH PRICE FORMING HIGHER HIGHS AND HIGHER LOWS THIS MOVE COULD CONTINUE
BACK INTO THE PREVIOUS WEEKLY HIGHS OF $97.50.
CADJPY BENEFITING FROM HIGHER OIL PRICES: ANALYSISLooking at CADJPY, we can see the Canadian Dollar getting stronger off the back of higher Oil prices.
CADJPY daily chart looks likely to head up to the key 73.50 resistance.
Next week we could see the 4hr chart pullback to the key highs, where price could form a bullish continuation pattern.
US30 PUSHES HIGHER ON TRADE WAR NEWS: ANALYSISIn this video, we take a look at the US30 and how it moves after the current development between the US and China.
China said to offer a 6-year import boost of more than $1 trillion. The US, however, would like this to happen in the next 2 but
at least negotiations seem to be moving forward.
USDCHF, CHF WEAKNESS EVIDENT: ANALYSISUSDCHF continues to climb as the CHF weakens. Typically when looking for strength and weakness, we look at the USD major currency pairs. For instance, GBP has been very strong against the USD and CHF very weak. If you open up GBPCHF you will see this market trend higher. Look for CHF shorts against the stronger currencies such as GBP, CAD and AUD for potential long opportunities.
USD UPDATE: ANALYSISUSD has started to stall around the $96.00 area and with the US government shutdown continuing we could start
to see the effects roll over to the USD.
If we see bearish price action here we could look for further USD shorts as price continues to make lower lows and lower highs in line with the downtrend.
S&P500 APPROACHING KEY RESISTANCE: ANALYSISS&P500 is approaching a key resistance level and looks likely to sell off in line with the weekly timeframe.
The weekly timeframe has formed lower lows and has retraced to the 38.2 fib and key resistance.
Looking for bearish price action here to suggest further downside to come.
EURUSD DOWNSIDE CONTINUATION: ANALYSISEURUSD has re-entered a resistance zone made from the previous structure lows and looks likley to break lower.
ECB chances of hiking rates in 2019 diminished as ECB President Draghi said monetary stimulus is needed.
If price breaks the supporting trendline look for further short opportunities into the 1.13000 support level.
BRENT CRUDE BACK AT SUPPORT: ANALYSISOIL has been relatively quiet despite large fluctuations in the price of the USD.
Price currently sits at key support and could potentially form the right shoulder of an inverse head and shoulders pattern.
If price breaks the daily highs we could see it head towards the next resistance level of 70.50.