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Blueberrymarkets

WTI DOWNTREND CONTINUATIONWTI OIL could see further downside despite the current USD fall. Price is currently sitting below the $50.00, resistance and if price re-traces back to this area and prints bearish price action we can look for further short opportunities. Looking at the fibonacci retracement tool we can see the 38.2 highlights a zone in line with the resistance where price could continue to fall from. Seasonally OIL is short and typically bottoms out through the middle of January.
OANDA:WTICOUSDShort
by BlueberryMarkets
1
WHY WE ARE BEARISH USDWe have been looking for USD weakness for a while now due to the current situation in the Bond Market. There was risk to the upside however if the FOMC were hawkish the USD could have spiked further. But despite them mentioning gradual rate hikes, they were focused on data and monitoring inflation which is under the current 2% targets. This has seen the USD fall today and if price breaks and closes below the previous lows will be looking for USD weakness to continue.
TVC:DXYShort
by BlueberryMarkets
YO-YO DAY FOR THE USDWe have been speaking about this all week as it will be the most important rate announcement before the end of 2018. FOMC today will hike interest rates by 0.25% but the key will be in the statement and press conference after. If they plan to gradually increase interest as Trump is suggesting oddly enough, then the dollar has room to the upside. A break and close above the key resistance of 97.70 will be ideal to look for long opportunities. If they plan to gradually reduce the rate in which they hike rates the USD could fall in line with the Bond market and a break below the lows of 96.20 will be ideal for further shorting opportunities. Very rarely do we sit on the sidelines with trading analysis but this is one that could go either way...
TVC:DXY
by BlueberryMarkets
GBPUSD UPDATE AHEAD OF FOMCGBPUSD has been a chart of interest for a while and downside looks likely when taking price action into consideration only. However, with the FOMC interest rate decision tonight this chart could look very different by the end of the day. If the FED disappoint and look to slow down the rate in which they continue to hike interest rates we could see GBP back above the key 1.2700 resistance. If the FED plan to continue hiking interest rates then the USD will see significant upside leading to a break of the trendline support and GBPUSD heading down to the key support level.
by BlueberryMarkets
WHAT WE NEED TO SEE NEXT FROM THE USDIn this video, we discuss what we need to see from the USD going into the FOMC meeting tomorrow. We are expected to see a hike of 0.25% which typically does see investment into the currency. However, we feel the FOMC may disappoint with the statement on future rate hikes. If this happens we need to see the USD break below the trendline support and zone support of 96.30. If we do see a break and close below we will be looking for short opportunities on the USD.
TVC:DXYShort
by BlueberryMarkets
GOLD HIGHER IF FOMC DISAPPOINTGOLD seasonally moves higher throughout December and if the FOMC disappoint after hiking rates on Wednesday we could see prices rally in line with the seasonal move. Price is currently sitting at previous structure highs and 20EMA where we could see a further impulse leg. The market may be subdued until the announcement so patience will be required here. Looking at the lower timeframes if the 4hr timeframe can push higher and form higher highs in line with the daily timeframe we have the opportunity for a better risk to reward profile.
OANDA:XAUUSDLong
by BlueberryMarkets
GBPUSD UPDATE. EU SAYS NO TO RE-NEGOTIATIONThe GBPUSD caught a bid over the last couple of days as PM May won a no-confidence vote within her own constituency and was on her way to meet with EU leaders to re-negotiate the current Brexit deal. However, the EU had other ideas and later came out after meeting with PM May saying that she offered nothing new and that they will not re-negotiate the current deal. This has led to traders re-igniting the selling pressure on GBP as we suggested in our previous GBP post. Expect further downside here with the support of 1.2350 likely to be next targets.
Short
by BlueberryMarkets
USDSGD DOWNSIDE CONTINUATIONWith the USD expected to fall we look to the USD crosses for short opportunities. We have already had one great trade on USDSGD last month and it has lined up again for another short opportunity. The reason we expect USD to fall is due to the current downside of the US Government Bonds. The prices of the Bonds are falling and this can show a lack of investment in the greenback. A lack of investment can lead to the currency weakening and the bonds tend to act as a lead indicator for the USD strength/weakness. Technically the daily chart formed a ringed high at the bearish moving averages showing potential downside. Weekly support sits at 1.3613 and would be first targets.
Short
by BlueberryMarkets
AUDCAD CORRECTIONAUDCAD has been on our radar for a few reasons. AUD GDP Report was poor and put doubt in the mind of investors whether the RBA could hike rates at all. We are also seeing CAD gain strength off the back of the current decision for Opec to cut oil production to help struggling oil prices. The daily timeframe is potentially forming a head and shoulders pattern with the right shoulder forming at the 0.9650 resistance. Price has currently formed a double top pattern at the resistance and if we see a break lower, look for the re-test for continuation trades.
Short
by BlueberryMarkets
GBPNZD DOWNSIDE CONTINUATIONYesterday PM May deferred the vote on Brexit in Parliament that was meant to take place today so she can discuss the current draft agreement with the EU again. She was highly unlikely to win the vote regardless and the markets took this news negatively. Looking at the GBP pairs we have an opportunity to continue to trade this currency lower and GBPNZD looks good for further downside. Technically the market is in a downtrend and the lower timeframe averages are lining up with the higher timeframe averages with price currently re-testing the averages. Look for bearish price action here for continuation trades lower.
Short
by BlueberryMarkets
EURUSD TO BENEFIT FROM USD WEAKNESSEURUSD has been holding nicely above the key 1.1300 and with the potential for further USD weakness combined with strong Euro seasonal patterns, a move into the key resistance of 1.1780 could be likely. Looking at the 4hr timeframe on the right-hand side we have seen a close above the previous significant highs and price is currently testing the moving averages. If we see bullish price action here we can look for the early opportunity long.
Long
by BlueberryMarkets