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AUDUSD - short term bias - 4hrAfter 52 days of consecutive downside action from the most recent high (daily) , is this now time to go LONG and back the bulls?, here on the 4 hour chart we have a nice double bottom play out and i believe we are heading back up to retest the 38.2 retracement. in confluence with this particular FIB retracement on the 6th of july we located a minor area of support and we respectively held that level until the following day breaking straight through it, now from this point we had a minor fall in the next few days and went on to retest the support as resistance on the 10th of july and again on the 15th, indeed failing!. As we continue this week keep an eye on this level as we could break the resistance heading higher to the 61.8 or infact be a perfect entry for a sell order. Happy Pippin
by HektorMorganFX
MACRO VIEW: MARKET RISK TO S&P 500 - DIVERGENCE OF DSPP AND TRANTransportation is one of the key industries of US economy, while paper index traces performance of companies involved in packaging of all the goods shipped. General understanding is that if fewer goods are being packed and transported, fewer goods are being bought, which in turn means a slowdown in US economy (measured by GDP, which is approximately 70% retail sales). Thus if stocks of US transportation and paper companies decline in advance of broader market indices, it could well signal a slowdown in US economy not yet accounted for by the general investing public.
SP:SPXShort
by Killy_Mel
EURJPY Channel Break - Down to 132 and then 130 Okay so I had a long bias on this pair a few days ago - however, after analysing the GBP/JPY Pair it became evident that the bias should change to a short term one as the downside potential was stronger on that pair than the upside potential on this pair. These two pairs correlate well with each other and the channel for this has broke - therefore we can assume that the next two targets will be 132 and 130 (132 where there is a lot of support and resistance and 130 where there is a swing-low) Decent 4.5:1 risk reward too!
by AaronLeggett