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USD/JPY On the MoveLast week we saw it was very bullish for UJ. The first week in about a month where we saw good trending price action. Previous weeks were filled with a lot of consolidation and ranging price action. On Friday price broke a major level around 113.500 and the last time we saw price rise above these levels was in July. This week we could see a continuation of this uptrend after some consolidation or a slight pullback as we have already had a lot of consolidation over the past month now is the time where a trend can continue. The most logical upside target would be about 100 standard pips away at 114.500. What will happen at this level is uncertain whether we keep going up or make what would look to be a triple top at this level. However if we do continue up 115 would be next. Fundamentals/News this week looks light, some high impact news but nothing out of the ordinary for USD. More importantly the focus would be on the geopolitical issues (Trump & NK could change the outlook for USD/GOLD fast.) and also Trump's new tax reform plan and the replacement for Fed Chair Janet Yellen.
by nick.trader4
USD/JPY OCT NFP WEEK Last week USD/JPY continued its uptrend with some strong momentum. Price has made its way all the way up to major resistance zones. After some slight rejections we could see a retest and then some consolidation between a support zone. It doesn't seem likely for a breakout just yet as we have been trending strongly and need some time for accumulation of orders before further price movements. We could see a directional breakout due to the many fundamental events on the calendar for this week including NFP Friday Oct 6. Regardless of these fundamental events our zones are plotted and most importantly we have a plan.
by nick.trader4
(XAUUSD) GOLD- Post FOMCLast week we saw Gold continue its move lower, FOMC held rates the same but had a very hawkish tone in their statements calling for more future rate hikes. This pushed gold back under the 1300 level. This week its possible to see some further downside into an area where price can find some support, around the 1280 zone. The current price momentum should take us a bit lower but right now we have started a small rally in a downtrend so we should wait until price reaches some resistance possibly between 1300-1310. Longer term, gold is still in an uptrend and increasing geopolitical issues have been weighing on USD so of course be on the lookout to buy gold if the price action suggests a bounce off the major zone or creating Higher highs.
OANDA:XAUUSD
by nick.trader4
1
XAU/USD (GOLD) - Trend Analysis Gold has been very bullish over the past few weeks making new highs in 2017, however this past week we have seen some (not all) of this bullish momentum slow down as we bounced off a major resistance past 1350 late last week. Since this happened, this weeks price action has actually been bearish and right now we can see that we are in a descending channel approaching a support that was tapped last week. With sufficient bearish momentum we should break this level around 1315 and head back to 1300. The other possibility is the 1315 level holds and we move out of the channel and maybe make a series of higher highs and higher lows, restarting the uptrend to new highs. A catalyst for one of these moves could be the FOMC meeting this Wednesday.
OANDA:XAUUSD
by nick.trader4
USD/JPY Testing Major Zone USD/JPY has been in a long downtrend due to a weak dollar (fundamentals & geopolitical issues) and the strength of safe haven assets such as JPY. Recently though the dollar showed some life after bouncing off a major support zone mid week. A continued move up to the 111ish area is expected based on a minor change in market structure that made a FTR (fail to return) zone which created a HH (higher high). This FTR zone was retested when NFP numbers were released worse than expected but quickly the price started rising again as buyers jumped on a good opportunity. Based on the strength of the buyers at this moment I could see the previous 4hr candle wick being filled and price moving towards 111. If price gets to this area we will see how it reacts in this zone. The long term bias is down for USD and things geopolitically between them and NK don't seem to be improving. I can expect and look for a sell signal in this zone to take price lower. If this zone fails to hold 112 looks like the next upside target. Be aware that we just had a long downtrend so price needs to move through its waves.
by nick.trader4
Dollar Index ShortDollar index. Yellow zones are monthly. Blue zones are weekly. The Dollar began gaining strength and putting in higher highs and higher lows in may of 2011. Recently, the dollar has pierced weekly zone 96-97 which caused consolidation for a number of months before breaking out, putting in a higher high which hit monthly zone 102 but rejected strongly. The 92 area is the most recent support zone that has been tapped 3 or 4 times indicating this is weak level. Zoomed into weekly timeframe you can see the dollar putting in lower lows. Based on a strong rejection of monthly zone 102, and lower lows being put in, I'm anticipating continued dollar weakness, Eventually tapping the next monthly zone 81
TVC:DXYShort
by Lucidforex
USD/JPY Trump Fundamentals After last weeks NFP results were positive and price action looked good to support the fundamentals I was thinking longs for USD. Of course this was not the case as we had new fundamentals break that stated issues between North Korea and the USA. Important to stay flexible and keep up with news as things can change quickly and the bear trend continued, infact it actually picked up after breaking the major support. So here are my new zones and ideas for this coming week. I have plotted my major zones as seen, I think price could stay within these zones for a period of consolidation before it finds new direction. The support zone is a major one and if broken we could see price start to fall a lot more throughout the rest of the year. However there is still a lot of news this week including FOMC statements midweek. So should be an interesting week nonetheless.
by nick.trader4
Sterling Vs. Yen. Weekly Analysis Aug 14-18Last week we saw GBP/JPY fall flat on its face melting dollar after dollar. A lot of this had to do with the recent strength of the safe haven currency YEN which went up a good amount against USD due to recent issues between Trump and his counterpart from North Korea. It has since fell down to a nice support zone. We have a confirmed EMA cross on the daily chart so this week we can expect some push up for liquidity to retest the EMA before a further drop either back into the demand zone or to make a lower low into another major demand zone which has been plotted on the chart in the 140.000 area. If we do retest the EMA in a daily supply zone that can give opportunities for fresh selling positions.
by nick.trader4
XAUUSD (GOLD)- USD TREND ANALYSIS W/FUNDAMENTALS After last weeks NFP results were positive and price action looked good to support the fundamentals I was thinking longs for USD, which is bearish for Gold. Of course this was not the case as we had new fundamentals break that stated issues between North Korea and the USA. Important to stay flexible and keep up with news as things can change quickly and the bull trend continued, infact it actually picked up after retesting a new major support and making higher highs. Gold has now approached a really major resistance zone that has previously been rejected twice, could the third time be the charm for a break? We will see what happens this week, we may start a period of consolidation if both these major zones hold strong, enough for liquidity to be enough to push price higher. There should be enough volume and volatility this week with all the news events including FOMC statements.
OANDA:XAUUSD
by nick.trader4
Bitcoin bulls, don't get your hopes up too soon. Your levels.I just want to take a quick minute to remind everyone that the previous trendline for which I drew the bottom of our bullish channel (GREEN) still remains significant despite the fact that it was already broken three times (down on the 10th, up on the 20th, and down again on the 25th). That being said, I am not saying that we'll enter back into the channel again. But what I am saying that it can still act as overheard resistance, and indeed, as you can see from the chart, it has. Bitcoin remains in semi-neutral territory here. Although, it is not bearish (downward sloping RED channel), it is also not bullish (at least, I wouldn't give it that credit) yet. Any trades entered before the first week in August remain fairly high risk in my opinion, especially considering what we are seeing on my charts which is indecision/volatility. Stay cautious and know your levels. The major levels I have indicated on the charts. Seven levels in our current area between the GREEN and RED trendlines are: 1) GREEN TL (currently around $2800 2) $2760 3) $2670 4) $2600 5) 50 MA (currently around $2550) 6) $2420 7) $2340 (which is also %78.6 Fib) Happy trading friends!
BITSTAMP:BTCUSD
by stewdamus
8