EURCHF TO MOVE HIGHEREURCHF has recently broken into new highs on the daily timeframe after price found support at the
weekly demand zone. We can expect prices to continue to move higher as the Swiss Franc continues
to weaken. We need to see price retrace back to the breakout highs at 1.0965 to look for bullish continuation.
Blueberrymarkets
BIG DAY FOR THE USD...Will today finally bring some direction to the USD?
The federal reserve is set to cut interest rates by 0.25%, but the language they use will be more important.
If the fed decide to be more aggressive with future rate cuts we may see the USD weaken significantly.
Even if the fed use hawkish comments we are likely to see President Donald Trump try to continue to
devalue the USD. Expect volatility to be high and wait for clear direction.
NZDUSD...WHAT NEXT?In this video update, we take a look at NZDUSD as the commitment of trader reports are highlighting
the commercials increasing their long positions suggesting they think the NZD is at a good value to buy.
NZDUSD technically is bearish and we would need to see price approach key support levels and reject
in order to look for long positions.
EURAUD LONG OPPORTUNITY?EURAUD is currently re-testing the weekly trendline support and the hourly timeframe
has retraced back to the minor support level where we could see some buyers re-enter the market.
The Australian Dollar could suffer from the re-introduction to the risk-off sentiment giving some upside
to this pair.
RISK OFF BACK ON?...CADJPY UPDATELast week on tradingview we discussed a potential short opportunity on CADJPY as technically
price found resistance at the head and shoulders pattern neckline that formed in July.
This weekend we saw the news of Saudi Arabia's oil refineries being attacked which could move the market
into a risk-off sentiment with safe havens such as JPY benefitting from that. We will look for this market
to continue lower into the daily highs of 80.75.
GOLD AND SILVER SHORT OPPORTUNITIESThe commitment of trader reports is showing large commercial short positioning on Gold and Silver.
Gold in particular shows short contracts at all-time highs, this is significant for us to sell Gold on any rallies.
Looking at the Gold chart price is re-testing the double top neckline where we can look for short opportunities.
On Silver, we need to see the price for a lower high on the daily timeframe to give us a clear opportunity.
CADJPY DOUBLE TOPCADJPY on the 4hr timeframe is starting to form a bearish pattern at the key resistance.
The market is currently testing the daily head and shoulders neckline and looks to have formed a double top
with RSI divergence as confluence. This is a good short opportunity with targets of the demand zone at 80.73.
EURAUD AT TRENDLINE SUPPORTEURAUD is back at the weekly trendline support, could price bounce from here?
The strength and weakness tables suggest a break lower is more likely however
short traders may look at this support area to take profit from their positions which could
lead to a short-term bounce.
USDJPY APPROACHING KEY RESISTANCEUSDJPY is breaking higher due to the risk-on sentiment in the market however price is approaching
a key weekly trendline where we could see some short-term selling re-enter the market. If price
forms bearish price action at the resistance we could look for short opportunities into the daily highs
at 106.50.
AUDJPY TOP DOWN ANALYSISIn this video update, we break down the AUDJPY market as we expect to see
this market reverse from the weekly swing lows. Price being at this resistance level
usually leads to a trend continuation move so we will be waiting for significant price action
here to look for short opportunities.
EURUSD BREAK OR BOUNCE?EURUSD is at a key technical level where technical traders will be looking to short the market.
However, fundamentally we expect the USD to weaken as the USD comes under pressure from President Trump
and the Fed. Price on the 4hr timeframe is currently consolidating and a break of the range will be key to identifying
the sentiment.
BRENT CRUDE OIL BREAKOUT?Brent Crude Oil looks likely to break out of the trendline resistance as the risk-on sentiment remains.
Technically price is working within a channel and if price closes above confirming the breakout the sentiment
on oil will likely change. The USD weakness will help oil find higher prices so keep an eye on the USD Index.
VIDEO ANALYSIS: GOLD TO FALL?In this video update, we take a look at Gold and for the potential for price to start moving lower.
The CoT reports are highlighting a significant build-up in commercial short contracts at current levels.
Not only this, technically the impulse moves are getting short and shorter and the price is failing to make higher
highs and higher lows. The RSI also highlights the divergence between price and indicator adding further confluence
to our bias.
AUDJPY TO RETRACE TO 74.00AUDJPY continues to move higher as risk-on sentiment continues.
Looking at the daily timeframe we expect the price to re-test the weekly lows
of 74.00. This gives us opportunities to look for long positions on our lower timeframes.
If price breaks above the highs we can look for opportunities on a re-test.
VIDEO ANALYSIS: TRADE UPDATES...USD WEAKNESSIn this video update, we take a look at our open USD trades and what is happening on the
USD Index as the value of the USD moves lower. Seasonally the USD is short through this period and
looks likely to continue through until october as the Fed is weighing up a rate cut.
EURAUD TOP DOWN ANALYSISEURAUD has been on our radar for some time and with the weekly timeframe forming a significant bearish engulfing candle off the
key highs, we could expect some downside to continue. Looking for 4hr trading opportunities off the moving averages with
targets being the daily trendline support.
GBPNZD LONG OPPORTUNITYGBPNZD is on our watchlist as GBP remains strong and NZD continues to be weak.
Price has now retraced back into the moving averages where we can look for another long
position if price forms bullish price action.
Key resistance remains at 1.9600 where we will look to take profits.
VIDEO ANALYSIS: DAX INVERSE HEAD AND SHOULDERS PATTERNThe DAX appears to be forming an inverse head and shoulders pattern where we may see a reversal in the current bearish trend.
The weekly structure lows are offering support currently and daily price action suggests we could see an inverse head and shoulders pattern
form. A break and close above the neckline will allow us to look for long opportunities.