Singapore
German Stock Index DAX (The DEAD CAT is here)View On German Stock Index (26 MAR 2020)
A nice bounce is underway and we seeing this a brilliant short-covering mood.
The virus issue is far from over. So, the market still can face further downside risk in the near future.
For the time being, it can go to 10,500 and 11,000 regions as a typical retest first.
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SGX:SIA - A very long descending triangleI dont like where SGX:C6L Singapore Airlines is heading. This is a very very very long descending triangle. SIA might have bottomed here or it might be facing tougher times ahead. I am leaning toward the latter and I would not catch a falling knife right now. Until there's a clearer picture, i would stay away.
SGX [1-3 months view]I expect SGX in the short term to pull back towards 8.70 as long as it is holding below 9.38. After which, we should see a bounce reaction from 8.70 towards the alternative case target at 9.75.
Essentially, this is 2 trading ideas in 1.
Part 1: SGX to push down towards 8.70
Part 2: SGX to bounce and move higher to 9.75 thereafter.
Reason being that price is still holding above the long term ascending trendline support.
SG DBS BREAKING DOWN DBS is very weak now. Having bounced off 25 twice in recent time, it failed to make higher highs, failed the 55EMA, and is likely to revisit 25.
MACD supportive of bearish bias.
Going for a bounce at 24.50, and to consolidate at 24 for deliberation of a possible major rally to 40.
Higher high and low for AUDSGDJust a casual update on an earlier analysis posted:
Presently biased towards bullish.
AUD appears to have find support above the blue line -- previously acting resistance of the steeper downward channel since Dec 2018.
The pink lines forms the gentler downward channel started since 2017, expected to act as resistance levels for AUD ahead against SGD.
Expect AUD to be rejected at around 0.95-0.97 SGD to retest the support.
If AUD is able to pierce above 0.97 SGD and finds support, a follow-up pump is expected perhaps to ~0.99 SGD at the 38.2% Fib level.
If AUD is not able to find support at ~0.93 SGD, then expect a continuation of the descending channel (defined by the two blue lines), and expect price to go down and revisit 0.9 SGD.
Strait Times Index PlanI know there are a lot of levels I look for bullish liquidity there. It is only because the market presented me with a lot of levels to "play" with.
I am technically bullish on the Singapore Dollar (SGD) in spite of the recent easing policy of the currency. There is a positive correlation between the SGD and the STI it seems at the moment hence I am looking to speculate this index to move to the upside.
I am looking for business at one of these levels I have marked on the chart
GBPCHF - anticipating range bound marketIn the wider context, I am bearish Sterling. However, I am anticipating a range-bound price action today BUT I will only take "level rejection" to short this pair. I am looking for bull traps at the levels I have marked on the chart.
No risk events for the U.K and Switzerland
Monday plan GBPJPYThe 20-day ADR was missed on Thursday and Friday. Moreover, the 20-week AWR was missed as well (both upside and downside). Price expansion is much expected next week. I am still bearish GBPJPY hence I am looking for bull traps at the levels I have illustrated on the chart
Expect updates in the trading days next week in reference to this post.
USDJPY Hindsight "Review"Please check the post below as reference for this "review"
To the readers who were LONG biased USDJPY, it is fair to say USDJPY moved almost 100% as we anticipated. We anticipated USDJPY would hit the 20-week AWR upside projection and it did not. This week is a "missed" week so I am expecting a weekly worth price expansion within two weeks
Navigating the Market : NZDGD 27/9This pair went through a rare two-day whipsaw-ish price expansion of 90+ pips each day. That is almost twice the 20-day ADR for this pair. Due to this I am anticipating a rather subdued price action today with 35-55 pips range on top of today is Friday and there are no risk events for New Zealand and Singapore.
I do see scalping opportunities (in 15 min or 5 min chart) for a Long trade if there is a stop hunt tapping under the London low and short trade if there is a stop hunt tapping at the NY-only session high. I am not a scalper so don't listen to me. However, I will short this pair if the latter happens. Due to negative swaps, I won't be holding this trade overnight, I'll take what I get and find a solution to continue the trade next week.