CAC 40 (FRA40) could hit 5140 in wave YThe French index started second leg of double three WXY correction with wave Y, which could hit 5140.
This level represents the equal distance of Y=W and also the 61.8% Fib (5166).
France
ridethepig | EUR Market Commentary 2020.06.03EURUSD exploding to the topside as USD comes under further pressure from domestic issues. While I am bullish on the euro more broadly, these latest moves are starting to look stretched above 1.12xx given all the cards that are on the table.
Well done all bulls riding what has been so fat a very fast move; we are coming to the end of this initial ‘expectation leg’ around debt mutualisation of the block. Official confirmation coming later today will mark an end of this chapter and unlock a quick pullback for the next ‘fact’ leg which should be bought. On the technical side, tracking closely the 1.104x support as the next loading zone for bulls looking to ride the swings towards 1.15 and 1.20.
🔑 Remember markets trade expectations first and then facts later.
SBF120 - final stages of counter-trend rallySBF120 is tracing the final stages of a this wave 2 complex corrective wave. The probable end target should lay between 3,850 and 4,080. After this wave 3 should carry the index to new lows. If the index crosses down 3,580 the odds are that wave 3 has already began. FOLLOW SKYLINEPRO TO GET UPDATES.
ridethepig | Eurobonds Positional PlayThe latest news from Germany and France " federalisation of the debt " - a prerequisite for survival of the euro. The trigger for Alexander Hamilton in 1790 was Britain, for Angela Merkel its Coronavirus.
So we are gradually getting round to what is an important component in the process of formation in the currency. Like a trojan horse, Eurobonds are being pushed in from the mounting political and geopolitical pressure. The initial 500bn EUR will still require approval from the block, and may not be a huge sum considering a historic crash, however it is an incremental step in a positive direction. It is not really about the effectiveness of the implementation, and this is decided from completely different factors and distribution is not that clear.
The isolated highs in USD which we have been tracking illustrates the future direction for the greenback :
After the latest news I am switch sides in the short-term bearish view, rather starting to track the breakout to the topside. A move through 1.10xx highs will unlock the topside and put scaffolding around the short-term bullish view. The MT and LT outlook could see us grind all the way back towards 1.20xx in a relatively short period of time.
I am certain that in a few years, nobody will consider surrendering their euros for dollars. The disappearance of dollar dominance will open the way for a new and brilliant development of Europe and - the east. Let me say a few more words about the birth of the view; it is closely linked to the collapse of Globalisation...
Vaccine optimism is flooding the wires, the dedication of politicians to sell the re-openings is very telling of the extent of damage that has been done. All rainbows and empty promises from the consultations I've had with experts in the field. The following chart shows how devastating the economic damage has been on the US labour market, Equities rallying all the way back in such a short period of time in a V shaped bounce is not an accurate reflection of reality:
[$RNO] Les vendeurs doivent vendre ! Sellers need to sell ! FR/EN
Beaucoup de vendeurs lors du krash COV-19 ! Cependant ils restent encore des vendeurs dans le marché et les actionnaires qui ne croient pas aux orientations de l'entreprise doivent partir et laisser les croyants à la renaissance du fleuron francais, bien que pluriculture désormais avec Nissan depuis 1999 et Mitsubishi depuis 2017.
D'un point de vue technique, il faut laisser le temps de construire un vrai bottom , le plus bas historique à 12€, avant de reprendre la marche vers la hausse.
Pour une vision long terme, il est très intéressant de se positionner, pour autant , cela ne cherche à rien d'avoir le plus bas si nous avons un objectif à 5 ans ( moins risqué, moins prise de tête)
Le secteur automobile est fortement touché par la crise pour autant la demande est toujours là. Restons prudent
Stay Safe
PEACE !
--
EN
Lots of vendors during this pandemic crisis momentum ! However they are still salesmen in the market and the shareholders who do not believe in the company orientations must leave and let the believers to the rebirth of the French flagship, although pluriculture now with Nissan since 1999 and Mitsubishi since 2017.
From a technical point of view, it is necessary to give time to build a real bottom, the historic low of 12€, before resuming the upward march.
For a long term vision, it's very interesting to position ourselves, but it's not about having the lowest if we have a 5 year goal (less risky, less headache).
The automotive sector is strongly affected by the crisis, but demand is still there. Let's remain cautious
Stay Safe
PEACE!
SBF120 - downtrend to levels below 2,860SBF120 is tracing the early stages of primary wave 3 down that should push prices down to levels below 2,860 in the near term. FOLLOW SKYLINEPRO TO GET UPDATES.
XAUUSD- 2 SCENARIOSOANDA:XAUUSD
Hello guys !
For a month the gold market has been in range! From this point of view the price aims, the resistance of the range.
It is also important to underline the formation of a symmetrical triangle which of which the break can be a strong upward movement.
However if the movement is not strong enough to break the range up we will see a downward movement to seek support for the range!
INDICATIONS: The key zone is 1737.018, If there is a breakout we will go back to buy but if there is a rebound we will sell
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BITCOIN: IT'S THE BEST MOMENT TO BUY?Hi friends, how are you? I am happy to present you my vision on bitcoin for the days to come! Personally I am bullish because I have several grapghic indications which indicate it to me.
First, the uptrend was confirmed after the break of the ascending triangle.
Then we attended the break in the pitchfork level and finally to confirm the increase a retest on the pitchfork level and the trend line simultaneously !! To add to this we have an indication of the Price action!
Thank you for taking the time to verify my idea and leave me a like if it was useful to you!
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BEARISH - LVMH 60MN - IDEAS WHYSuper strong resistance up there at 362.60.
Atfer a series of testing the market breaks the uptrend support
to end out breaking also the VWAP with strong volumes as a backup.
Last volume is the biggest and the tentative of new uptrend signal has been rejected at the VWAP.
Coming next:
- Most likely a bearish movement targeting first the 328.30 level.
-Possibility to go further down.
- Otherwise the market could again test the VWAP.
Decision will then to be taken after observation of new pullback or break.
RNO is very likely to go up .EURONEXT:RNO is very likely to go up .I think this is a good time to buy it . I expect it to go up to around the 36 area as a first target (100% growth) .I strongly recommend it also for a long term investment because price has the potential to go up to around the 60 area .
FACEBOOKEverything is shown in the picture to whom it may concern, and I am at the service of everyone!
CAC40 GOING DOWN**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Short - Euro/Pound (EURGBP)Moving from the UK and now living in France, this is a pair that has some impact on the cost of living. 5 years back when €1 was 75p now up around the 90's. Looking at what is happening in Spain, Germany and of course France right now. It is only a matter of time before the Euro reacts.
Beyond that, looking at the charts - there was some strong resistance near the high of the weekly chart. There are two daily Fibonacci levels just below the price as it currently stands at the time of writing this.
Be great to get ideas, thoughts and comments on this.
Have a good week!
CHF/JPY IDEAInteresting area to look at as we are approaching resistance on multiple time frames. Will be looking for a short once we break market structure. We are still currently in an uptrend.
GBPCHF: Long term Bearish Megaphone. Buy/ Sell opportunity.The pair has been trading within a Bearish Megaphone pattern on the 1W chart (RSI = 42.637, MACD = -0.018, ADX = 36.624, CCI = -60.8239) since early 2018. The pattern has been making clear Lower Highs and Lower Lows with 3 weeks ago being its most recent Lower Low, which is now the Support (1.11000). The price is on a 3 week rebound since (all green candles), the MACD is making a bullish cross and we are expecting this rise to extend as high as the 1W MA200 (orange line). Technically every Lower High reached roughly the 0.786 Fibonacci of the previous High, but hitting the 1W MA200 is a solid place to sell.
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SPF 120 Index (France) - critical juncture - keep tuned to shortThe French index as its European counterparts is tracing a cycle wave c down. Currently it is finishing primary wave 2 up wave and the next move will drive the index to new lows. It seems to be tracing minor wave 3 of a five moves up that will complete intermediate wave C and start primary 3 down. For this it should cross the high of intermediate wave A, and complete the 5 waves. After this the more riskier short entry would be at the low of minor B or for a more conservative entry at the low of primary wave 1. FOLLOW SKYLINEPRO TO GET UPDATES.
TeZos XTZ the next big thing?When Bitcoin bottomed in price, we saw a HUGE increase in TeZos XTZ, now if that was due to coinbase expanding it staking rewards to all platforms or because the Chinese were in a hurry to dump BTC, is up for debate, but either way we have seen a dramatic jump in price, and it has been strong too.
Even more remarkable is the stability of this coin, even in a downward market, XTZ stays in a "BUY" state, consistantly staying within a small price range, as compared to other Alt coins. I am willing to bet we will see the price of TeZos climb into the 1.30-1.36 area and stay. Why? Because with the 5.60% staking reward it offers and its ever increasing price, whats not to love about TeZos?
I am for sure getting in on it at any low it gets too, as i see only progress in the future for TeZos. Take a look at the chart for TeZos, read up on the coin itself! maybe its your next "Cash Coin"?
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CAC40 Fails to make New All Time HighsThe French CAC40 has struggled to break above the resistance zone into all time new highs. The ECB has promised cutting rates further negative and more stimulus...we shall wait to see the developments, but so far the markets have already priced that in and sold off today after the announcement.
The CAC40 on the 4 hour shows 2/3 market trends. We had an uptrend with well defined higher lows and higher highs, and now we are ranging. On the current candle, we had a fake out with the wick above, and the bears are stepping in.
Await for a break of the 5535 zone before entering a short. See how strong the candle break is and we can assess the trade when that happens.
CAC 40: Very strong long term upside potential. 6700 on sight.CAC is quite strangely printing on the big 1W/1M time frames a similar trading pattern with the early - mid 90s. The MA50/200 sequence is identical within a Channel Up with two distinct peaks that broke the Channel momentarily before testing again the supporting trend line.
What stands out in particular is the +46.50% rebound from the first Higher Low on both cycles. What follows after is a giant Inverse Head and Shoulders pattern, which gave rise to the second peak outside the Channel Up.
CAC40 is currently on that Inverse Head and Shoulder pattern attempting to price the Right Shoulder.
With such striking similarities it is only natural to assume that the current cycle will follow to a large extent the 90's cycle. Which means that after the Inverse Head and Shoulders is completed a +49.50% rise may follow (second peak outside the Channel) bringing the index close to 6,700. This is our long term target for CAC and the candle action times this by March 2020. After that the final Higher Low takes place which should pave the way for the new hyper aggressive cyclical bull market similar to the late 90s - 2000.
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France 40 Index, Sell after break downI will open Sell if the price will break down the key level 5538 and D1 candle will close under 5538
On the chart, we see that price made huge accumulation but didn't move up. If the price will start down move all guys who opened buy above key level will be stopped and they will bring new volume to the market
Once Resistance Hit, Potential Pullback SufferedPrice action just cant quite get back into that really beautiful channel the CAC40 was running in the past three months. I expect once price action hits resistance that we'll see a bit of a pullback.
CAC40 Rejoins Channel, Technicals Flash OverboughtWhile the CAC40 gave traders an almost perfect technical upward channel for January February and most of March, that channel was broken last week only to be somewhat regained over the past few sessions. It still does not know however if that channel support line is now resistance or still support. Moving averages all signal upward momentum while bull bear sentiment and RSI flash that this index is overbought. I'm not confident in equities right now. They all seem overbought and tend to be universally stagnant. Let's see how much further we can go though.
