BULLISH ON BITCOINWe remain bullish on Bitcoin if price can re-test the buy zone we will look for long entries
back into the highs. If price forms bullish price action here we will likely see the trend continue higher.
Blueberrymarkets
EURAUD LIKELY TO RETRACE EURAUD price action on the daily timeframe suggests we could see a retracement
back into the key sell zone where we can look to sell the market in line with the overall
trend. If price forms bearish price action in the sell zone look for short positions into
the demand zone.
VIDEO ANALYSIS: EURGBP TRADE UPDATEThe UK has a new prime minister in the form of Boris Johnson.
He is in favor of Brexit and will likely build a cabinet that will represent that bias.
The retail market is taking this a 'short' on the GBP and sentiment indexes suggest we could
now see a reversal of that bias. Boris Johnson was likely to become prime minister so will the market
have priced that in?
USDCAD HIGHLIGHTING THE CAD WEAKNESSUSDCAD weekly price action suggests we could see a short-term reversal in the current trend.
We have also seen a fake out of the lows adding confluence to a reversal. The Canadian
Dollar has been declining lately and with price, at these levels, we could see a fall against
strong currencies.
The weekly Fibonacci suggests we could see price retrace back to the 1.3238 lows.
VIDEO ANALYSIS: GBPUSD THE CHART OF THE WEEKIn this video update, we take a look at the GBPUSD and the potential for it to move higher this week.
Lot's of volatility will be surrounding the GBP as a new prime minister is set to be announced.
However, the commitment of trader reports has highlighted that the commercials are continuing to buy
at current levels showing a change in trend could be on the horizon.
VIDEO ANALYSIS: TRADES OF THE WEEKIn this video update we take a look at the trades that were left open for the week
where they are positioned and how we can manage them.
CADJPY- Breakeven and likely to be stopped after poor retail sales.
NZDJPY- hit targets on 4hr trade, daily still open and in profit.
EURGBP- open and in profit.
USDSGD- open and offside slightly.
GBPUSD REVERSAL?GBP looks likely to move higher as price rejects the key demand zone. The Commitment
of Traders reports highlighted the increase in long contracts from the commercials. This shows
that they are happy to buy at current level giving us an opportunity to look for a trend
reversal. Technically price is still in a downtrend however we could see price form an inverse head and
shoulders pattern or a change in cycle. If the price does form a bullish pattern we can look for long opportunities.
VIDEO ANALYSIS: WHY WE SHORTED EURGBPIn this video, we discuss the short trade posted on the telegram channel. We are
looking for this market to continue lower as the CoT reports highlighted the commercials
are actively buying the pound at the current level. This means we could see some GBP strength in the
coming days and weeks. EURGBP rejected the key weekly resistance and formed a bearish daily
candle suggesting we could see the reversal.
NZDCAD BREAKOUTNZDCAD has rejected a demand zone and broken through a bullish consolidation zone.
We need to see the Canadian dollar lose some strength before looking for a bullish
trade opportunity. The kiwi is one of the strongest currencies and if we see price form a higher low we could
look for a long opportunity.
EURNZD TO CONTINUE DOWNTRENDEURNZD has been forming lower lows and lower highs as price rejected the key monthly highs.
Price now looks likely to continue its downtrend into the major demand zone at 1.6400.
Look for price to retrace to the sell zone before looking for the downtrend to continue.
The 20 and 50EMA crossing over adds confluence to this market moving lower.
VIDEO ANALYSIS: NZDCHF HITS TARGETS...WHAT NEXT?In this video update, we take a look at NZDCHF as price hit targets on this trade this morning.
Price has now completed the inverse head and shoulders pattern and could continue up into the
weekly lows as kiwi continues to strengthen.
FTSE100 TO RALLY INTO DAILY HIGHSFTSE100 has recently tested a key demand zone and formed bullish price action.
We can expect this market to continue higher with targets being the daily highs.
The price is also supported by the 20 and 50 EMA pointing upwards with price rejecting
the key demand zone and the 20EMA.
VIDEO ANALYSIS: SILVER TO REMAIN BULLISHIn this video update, we take a look at Silver as expect the market to reach the monthly highs of $16.00.
The 4hr timeframe has started the move higher, forming a higher high with the structure highs offering a good
level of support for a long opportunity. If the price can retrace we can look for bullish price action in this zone.
DAX TO CONTINUE UPTREND?The DAX is back into the daily buy zone with the price already taking our Fridays high we could
anticipate a move higher. The weekly chart raises slight concerns as the candle close bearish
however the daily price action does suggest we could see another impulse. This may only be back into
the previous structure highs.
WILL GOLD PULLBACK?GOLD has been on our watchlist for some time as we expected a bullish breakout from the weekly flag pattern
in May. Since then the price has rallied into the key resistance around $1430.00, however, instead of reversing back
towards our ideal buy zone, the price has consolidated. We looked at the CoT reports and there is no sign of the commercials
selling aggressively at this resistance suggesting they are looking for prices to move higher.
We also have the USD weakness propping the commodity prices up. A weaker USD will help Gold remain bullish and technically the price
is forming a bullish breakout pattern at the key resistance.
Is a breakout higher likely?
Comment below...what are your thoughts?
VIDEO ANALYSIS: CURRENT OPEN POSITIONSIn this video update, we take a look at the current open positions on the telegram channel.
We are looking to continue the risk on sentiment in the market. We look at managing some open positions
as well as discuss what we expect to happen.
GBPUSD COULD RE-TEST CURRENT LOWSGBPUSD looks likely to re-test the lows as price broke through a minor demand zone and re-tested recently.
Price remains bearish with the 20, 50 and 200 EMA all in agreeance. GBPUSD will likely remain bearish due to the
ongoing Brexit uncertainty and recent run of poor data.
AUDJPY INVERSE HEAD & SHOULDERSAUDJPY could be forming an inverse head and shoulders pattern at the key demand zone.
If the daily timeframe forms a new higher high the pattern will be completed and we can
look for continued long opportunities into the key resistance lows around 77.50. This
market reacts well to risk on and risk off sentiment. If the risk on sentiment continues
we will likely see the pattern complete.
VIDEO ANALYSIS: GBPAUD TRADE UPDATEIn this video update, we take a look at our GBPAUD trade as the price has moved in our favor.
Because it is a Friday we could look to manage the trade by either closing our position now or
moving stops to breakeven to cover our position.
Price technically is at a minor demand zone and could form a higher low here as traders
will look to take profits or move positions around at the end of the week.
VIDEO ANALYSIS: NZDUSD TO BREAK 0.6700In this video update, we take a look at NZDUSD potential to break the key 0.6700 level
and head up to the key 0.6920 highs. The CoT reports show that long contracts continue to increase
at current levels suggesting further upside is likely. Wait for a confirmed higher high before looking
for any trading opportunities.
SPX500 HITS TARGETS...WHAT NEXTWe have been stalking the SPX500 for a long opportunity ever since the price had broken
into new highs. When price entered our buy zone we took a long opportunity back into the key highs.
Now price is back at the highs we need to wait for a correction of a break higher before looking
for any other entries.
WTIOIL BREAKS INTO NEW HIGHSWTIOIL has broken into new highs on the daily and looks likely to continue higher.
The monthly timeframe finished bullish suggesting we could see a higher low. This should form
a bullish trend on the daily timeframe. The Fibonacci highlights the 161.8 fib extension as a key
resistance in line with the monthly highs.
NZDJPY POTENTIAL BREAKOUTNZDJPY could be forming a bullish breakout pattern. Price has failed to breakout lower on multiple occasions
suggesting buyers are active at the current level. The Japanese Yen has recently weakened with the risk on sentiment
returning back into the market. If price breaks out we can look to long the market into the key daily highs.
