US OIL into 2021As the world rebuilds - the demand for oil will rise, the output from OPEC has been drastically cut but with that being said, economies rely on this as a main fuel driver for the moment.
Wey have monthly zones to hit into towards March to may 2021
This will be a long term trade hold for us.
We have a green zone of strong resistance now with a great base to provide some liquidity for further inflows.
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Outlook
S&P500 2021 outlookSPX500 to 4300 target for 2021.
based on the projection of a correctional move within certain months, however the rate of debt the debt market cycle has not been reacting negatively yet with yields still intact and further debt creation to refinance debt obligations .
There will be weeks and months which have negative returns, however the overall Fibonacci and rolling returns model suggests that the pricing model shows 4,000+ to be created and surpassed due to SPDR health sector and tech sectors beating the benchmark.
This is a quick example - a further explanation will be provided.
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Weekly Market recap 11: Getting ready for the next legWhat's happening
We've been consolidating for two weeks already, with the last week being more of downward pressure. The broad markets are consolidating near their respective resistance/support areas. The ultimate event I'm waiting for is the breakdown of 90.50 support and the continuation of the downtrend in DXY. I believe when we see that breakdown, the trend momentum opportunities will come in many fx pairs and stock indices.
Strategy
During the consolidations like now, it pays off to be patient and particularly picky, as the moves tend to be not lengthy and often choppy. For breakout traders, it's better to focus on the short-term consolidations with the numerous confirmation signals from the price action, and conservative profit targets.
Weekly Market recap 9: First signs of actionGeneral overview - Asia leads
FX market and the Western Indices were incredibly boring last week, with DXY, DAX and S&P500 staying in the consolidation. Asian markets continued to advance. In SG30SGD (Singaporean index), you can find some of the smoothest and strongest uptrends. The Singaporean market seems to be relatively strong, along with India, Australia and Japan, with a recent pullback present only in Nikkei (Japan).
FX: More volatility overall and the strength in NZD
With the recent data releases in the US, DXY got spurred to more volatility. So, we might see a directional move this week. It would be more interesting if the market closes at or below 92.00.
NZD remains a relatively strong risk asset, especially after positive Retail Sales data yesterday.
Western Indices
While the Western stock indices keep consolidating, some of them formed nice patterns, like DAX, for example. A breakout from such pattern can present potential opportunities to ride a meaningful proceeding trend (the breakout might be happening already!). The US Indices continue to be relatively weaker, compared to the European ones. I'd be particularly cautious going long in S&P and NASDAQ. Brent broke out from the triangle and pushing higher, confirming the risk-seeking sentiment, so there should be a hidden strength in Indices overall.
Price Outlook - USDCAD - 8HThe pair is within a bullish flag and is currently testing the resistance of the flag. The last candle pattern on the pair seems to be a three line strike, if the pattern follows through we may see the pair rally towards the next resistance zone then attempt to break back into the wedge with the aim of testing its resistance. If the patterns fails we could see the pair drop towards the support zone and decline towards the next major key level.
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Price Outlook - GBPUSD - 8HThe pair can be seen within a rising wedge and seems to be within the resistance zone of a key level. A break above this level could indicate a further buy whereas a rejection could be the initiation of a downtrend. We'd need to monitor the pair closely for accurate predictions.
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Weekly Market recap 8: Are markets preparing for the advance?Mixed west with strength in Asia
The week started with mixed markets. The US and European markets are still digesting gains staying in the range near their respective key resistance areas.
Asian markets show some signs of strength following NIKKEI's recent powerful breakout from the long-term range. Smaller markets like India, Indonesia, Singapore also show positive dynamics compared to the US and Europe. It seems like the risk-seeking sentiment is there, although it didn't get to manifest itself in the west yet.
What's next?
Looking at DXY declining for three consecutive days, it makes sense that inflows into the risk assets continue. Let's see how DXY will behave near the local low at 92.15 and eventually at the last line of defence of DXY at 91.75. This period requires additional patience and selectivity in setups and instruments in FX and major western indices. Although, for those willing to try Asian markets, there is an established trend environment to try out.
Weekly Market recap 7Elections week rollercoaster
After the last week's wild price action related to the US Elections, DXY erased my expectations about any sort of USD recovery. DXY went from the top of the 3-months range to the bottom (currently testing the grey area). The last line of defence before the downtrend in USD resumes is around 91.75 low (Black horizontal line at the bottom of the range). I will be aggressively bearish on USD when that low is broken down.
Two scenarios
1)Risk assets (see NZDUSD and S&P500) are currently testing or slightly pierced their resistances. So we need a decisive impulse in either direction to have a clearer perspective on the sentiment this week. My bias is on the DXY breakdown and the start of risk-seeking sentiment.
2)If risk sentiment begins, NZDUSD seems to have relative strength, so I'd be considering buying it over other risk currencies. On the other hand, looking at the USDJPY, we can see a long-term descending triangle that had just broken down on November 5. I expect USD to be relatively weak currency among safe-havens. Shorting USD looks like a good idea to me.
Weekly Market recap 6: volatility may take off very soonI believe the first breakout impulse of a new trend in the major assets can start during the next week.
DXY broke out the long-term trendline and held above, closing at the border of the current sideways channel at 94.00 (even a little above it). If on Monday DXY closes confidently above 94.00, I'll be surely bullish on USD and JPY as that may signal the beginning of the new wave of risk aversion sentiment. If instead DXY forms a rejection candle signal, the reversal back into the range is likely.
The major asset classes came to significant price levels
1)Brent broke the important support at 39.00, confirming the short-term uptrend (started at the end of April) reversal according to the trend structure.
2)Although S&P500 hasn't broken September low yet, it's consolidating under MA(100), that adds to my bearish bias on stocks.
3)Gold is also testing its major support level.
Possible scenarios
Whatever asset you look at, the full-body candle in either direction will tell us a lot at this point. We either enter into a volatile trending market (in case of DXY being above 94.00) or a possible short-term trend of medium volatility in the opposite direction.
The market may be pricing in the upcoming United States Presidential election on November 3. The election result can be a catalyst for a new trend across the board.
AUDUSD Wick rejections could be a sign for a buy?Can price finally find support around 0.7160? Though this pair is in a global uptrend, it is important to note that its current behavior and direction has been to the downside since the start of this trading week as is evident in the making of lower highs and lower lows. Needless to say, traders with a bullish bias has been waiting for price to find support at various areas along this week's downtrend path to get in on a buy but clearly, sellers are not done flexing their muscles yet as they have managed to push price lower and lower. Multiple wick rejections around the 0.7160 area could signify that much needed support for buyers to take control of the direction of this pair and bring back a continuation to the up side. Considering that price has respected key area between 0.7207 and 0.7193 as resistance several times in recent history, a global trend reversal could be cooking but this is not an exact confirmation yet.
EURUSD H2 #OUTLOOk For 21 To 25 SeptemberDear Traders Today We Have an Analysis Of EURUSD H2. This Analysis Based On Price Action Theory.
According to The Analysis, We Can See That Market On Down Trend which we can see with the help of Trendline there are so many rejections happen & market keep moving to downwards. As well as we have an extremely good support level @1.17556
There is 3 resistance level 1st is
@1.18633, 2nd is @1.19007 & 3rd is @1.19463.
On the 1st Resistance prices already refuted on the last Friday.
I Request to All Before The Trade You Also Match You're Analysis With As If You're Set up Match Then You Can Trade.
Thanks
Regard
Enclavefx technical group
GBPJPY OUTLOOKGBPJPY OUTLOOK: Price has struggled in the past week to move much higher. Previous highs have been broken however consolidation has taken place after bad news for the GBP and JPY. The end of the week saw price fall back down to the strong uptrend line and we will soon see whether price breaks below the line and reverses or once again bounces and moves higher towards the long term downtrend price arond 142.00
EURUSD OUTLOOKEURUSD OUTLOOK: Price is in a longer term uptrend, a smaller flag pattern has formed which price has attempted and failed to break out of. A clear confirmation of a solid breakout will tell which way price will continue from here. USD has been very weak and if we see its strength return then we can see the EURUSD move much further to the downside.