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Dow Jones Index Weekly (15 July 2017) * Bullish but be alertWe had a nice knee jerk action on the counter with strong break out in past 3 trading days a expected. This bullish momentum shall continue for sometime. So I am not standing with BEAR Side at all yet. The old thing to take note is that, the recent runup is not accompanied by thick volume. It can mean that the movement may not strong enough to hold it long. So, Bulls, please do not complacent too. Trade Safe, s0nic P.S. Please follow, like, give comment to my analysis.
OANDA:US30USD
by SonicDeejay
1
GBP/USD Weekly Update (11 July 2017) *Leaning toward BEARPrice Action: Slight Bearish (Weekly) Levels To Watch: 1.284 is supported, 1.305 is BIG resistant. I am Slightly Bearish. There shall be bearish carryover. It can go to 1.284 level easily. The next support level will be 1.279. You can try to look for possible reversal from these levels. Please take note that we have Yellen’s appearance in mid and later week. Support 1.2860, 1.279, 1.27, 1.268 and Resistance level 1.297, 1.302, 1.305, 1.32 News: Wednesday, Thursday, and Friday Trade Safe, S0nic
Short
by SonicDeejay
1
STI - A retracement or a reversal?The first half of 2017 has been a good run for the Singapore stock market - Straits Times Index (STI), gaining over 300 points. However, we believe that a retracement or a reversal to the downside is imminent. The question is are we gonna see a retracement or a reversal? Retracement Price moves correctively, usually taking a longer period of time, and does not move much in terms of price. Reversal Price moves impulsively, usually taking a shorter period of time, and moves strongly in terms of price. Knowing what constitute a retracement and a reversal is essential in knowing how to plan your trades. 1) If we see a correctively move lower towards 3077 area, it will present us a good opportunity to look for one more move to the upside towards 3360 area. 2) If we see an impulsively move lower breaking the trend line, we can expect price to move lower potentially towards 2901 area. If this happens, it will present us a good selling opportunity targeting 2901. Based on our Elliott Wave analysis, with the current price development, we are expecting the 1st scenario to have a higher probability of happening. Even if you are not trading the stock index, understanding and monitoring the equities market can provide us with the current market risk environment, and thus provide us with trading opportunities in the currency market too.
INDEX:STI
by KarYong