In today's first video update, we take a look at USDJPY as the markets move from risk on to risk off the with safe haven currency taking hold of the market this week. NFP numbers are expected to be a bit softer and if we see a decline in jobs and the averages hourly earnings we could expect a further drop in the price of USDJPY.
The NIKKEI is seeing significant downside largely due to the current strength of the JPY. With the outflow from the stock indicies to the safe havens, we should see further downside to the key support of 20240.00. Look for continuation trades on the lower timeframes.
We have been looking for for this market to move lower from the key resistance of 0.7570, with the BOC holding interest rates at 1.75% we saw the market move significantly lower taking at the previous daily structure lows. Currently, price is sitting at the daily 127.2 extension where we could see some short-term support before seeing a continuation down the...
In another video update, we take a look at the current situation with the SPX500 and if we are to see more downside how we can take advantage of it.
In today's video update, we take a look at GOLD and how money seems to be flowing into the safe haven.
EURJPY has been on our watchlist as price breaks through a key trendline support. The daily chart confirmed the lower low, lower close and we should see further downside as money moves from the equities to the safe havens such as JPY and GOLD. Looking to the 4hr timeframe we can see the lower low clearly and if we see the market retrace to the resistance at the...
USDNOK downside looks likely as USD pushes lower. This combined with the current OPEC decision to cut oil production could help the NOK a heavy producer and exporter of oil to increase in value. Technically the daily timeframe is still in an uptrend, however looking to the 4hr timeframe you can see the head and shoulders pattern has been completed, which is an...
Again looking to take advantage of the USD sell off, USDJPY has formed lower lows on the 4hr timeframe and looks to continue lower. We have a minor resistance level up at the 113.20 previous structure lows. If price can retrace into the resistance and interact with this zone and bearish moving averages we can look for further short opportunities with 112.00 the...
Now the USD has broken through the key trendline support we could potentially see a significant USD sell off. The 4hr chart here has started to form higher highs and higher lows and could continue the uptrend. Our moving averages have crossed bullish on this timeframe also adding to our confluence. Applying the Fibonacci we can see the 50% fib retracement is...
Stock market upside continuation is highly likely now with the short-term truce between Trump and China. 4hr chart here showing clear upside to come in the markets, looking for pullbacks into the averages before looking for long opportunities. The 61,8 fib retracement has a minor support level when looking left holding a likely area for the market to move higher...
USOil 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...
Over 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...
GBPJPY has been stuck consolidating at a key resistance point with 61.8 fib confluence. Price is currently forming a descending triangle pattern and if price breaks and closes below the supporting trendline we could see further downside into the 127.2 Fib extension of 142.70. This market could be prone to downside due to Brexit risk, especially on December 11th...
Index's look fragile again despite the recent upside we have currently seen. Our moving averages remain bearish and we could see prices fall further into the 10780.00 support. Traders have been looking for the rebound in the indices and are likely to cause further selling and new lows before seeing significant upside.
AUDUSD saw a move higher this week largely due to the weakness in the USD. We have now seen price stall at the recent resistance of 0.7340 and could see the market hold here forming a brief consolidation. Typically when the market breaks higher we will see a short pause before buying resumes. A break and close above the resistance we will look for continued long...
Again as we stated before we expected the USD to fall this week and this has led to a rise in the price of Gold. The market has been working between technical levels as of late and found support at the key $1215.00 support zone. Looking for long opportunities here for long trades into the key resistance around $1240.00 especially through December.
USOIL has no tested $50.00 a barrel and could find some support here. The Oil market has been significantly bearish and we have managed to catch the majority of the move down. However, the price has now come to a critical level and looks to be seriously overextended. If you move up the weekly chart you will see how far price has moved from the Moving Averages and...
We spoke earlier this week about the potential of EURUSD moving higher as FED Chair Powell tries to play down the rate of which they will hike interest rates in 2019. Technically the 1.1300 support has held and price formed a bullish engulfing candle on the daily chart. This is a strong indication that price could move higher towards the next resistance of 1.1780.