peterthinkhuge

03:02

peterthinkhuge

In this video update we take a look at GBPUSD in more detail and why we are looking for a reversal in the current downtrend. We speak of the CoT reports often and this video we have broken down what is happening and what has happened before.

peterthinkhuge

EURAUD was another currency pair we highlighted on the market outlook as we expect the market to reverse as price rejected the key resistance level on the weekly timeframe. The 4hr EMA's have crossed and the price has broken through and closed below the CTL giving us an option to short the market.

02:46

peterthinkhuge

In our market outlook this week we highlighted the non-commercials decreasing their short positions and the commercials continuing to increase their long positions for GBP futures. This suggests we could see a reversal in current GBP trends. GBPCAD has rejected the weekly demand zone and with the daily impulses getting shorter and shorter we identified an...

peterthinkhuge

EURGBP highlighted in our market outlook will be one to watch this week as the weekly candle closed bearish at the key resistance. The 4hr timeframe is starting to form lower lows and lower highs with the 20 and 50 ema also crossing. We will be looking for shorting opportunities on a retracement into the red sell zone.

03:02

peterthinkhuge

The USD is likely to be the big mover this week as we see the release of the latest FOMC meeting minutes as well as the news stories appearing from the Jackson Hole Symposium. These events will likely drive the USD this week and we may see some dovish tones out of the fed in order to dampen down recession risks. If the price remains below the current resistance we...

peterthinkhuge

GBPJPY COULD RETRACE BACK INTO THE LOWS, THE GBP IS GAINING STRENGTH ACROSS THE BOARD HOWEVER, WE ARE NOT AT A KEY DEMAND ZONE JUST YET. IDEALLY WHEN LOOKING FOR PRICE TO RETRACE WE WANT TO SEE PRICE INTERACT WITH A KEY DEMAND ZONE. IF PRICE TESTED 125.50 WE WOULD BE EXPECTING A REACTION. HOWEVER, IF PRICE WAS TO RE-TRACE WE WOULD EXPECT PRICE TO TEST THE 130.70.

03:44

peterthinkhuge

AUDCHF IS CURRENTLY RE-TESTING THE 2015 LOWS WHERE WE COULD SEE A REVERSAL IN THE CURRENT TREND. THE AUSTRALIAN DOLLAR IS CONTINUING TO FALL DUE TO THE CHINA TRADE WAR WITH THE US HOWEVER ANY RISK ON SENTIMENT HAS BOOSTED THE CURRENCY SIGNIFICANTLY. IF WE DO SEE THIS AGAIN OUR 1ST TARGETS WILL BE HIT.

peterthinkhuge

The stock markets have turned red again as the risk-off sentiment has returned. The global risk is affecting the stock markets across the board with the DAX here looking bearish on the daily timeframe. If price breaks through the trendline support we could anticipate a further decline.

peterthinkhuge

The current consolidation on the daily timeframe suggests we could expect another breakout lower. If the price closes below the trendline support price will likely fall to the support of 181.00.

02:35

peterthinkhuge

EURNZD is on our watchlist as the euro gains in strength and the NZD loses strength. The daily timeframe is holding above the previous highs and looks likely to continue higher. The 4hr timeframe has re-tested the key moving averages giving us an opportunity to trade long into the next resistance zone.

peterthinkhuge

BRENT CRUDE is likely to continue lower as the price continues to form lower lows and lower highs. The daily timeframe is currently showing price retracing back towards the key resistance of 60.30. If price forms bearish price action we can look for a swing trading opportunity from these lows.

04:07

peterthinkhuge

EURJPY is re-testing the key demand zone where we could see a reversal in current price. The Euro has been gaining strength recently and with the CoT report suggesting a possible reversal in JPY strength. The 4hr timeframe could be forming a 3 drive pattern. A break of last weeks highs will be ideal in confirming our long bias.

peterthinkhuge

USDJPY could be ready to reverse if price can test the key lows. The CoT reports show that the short contracts have reached all-time highs across an 18 and 6 month lookback period suggesting we could see a reversal in the current Yen strength. If the price tests the lows and forms a bullish candle we could expect a reversal of the current downtrend.

peterthinkhuge

Last week we spoke of the potential for EURUSD to bounce from the previous structure highs. Now the price has done this we could expect the bullish breakout pattern to complete. A break of the highs at 1.1250 will be needed in order to sustain mid-term long opportunities. The EURO has gained on the strength scales and with the USD likely to weaken this chart looks...

03:49

peterthinkhuge

USDCAD is on our radar this week due to the bearish rejection candle on the weekly timeframe. This rejection could signal the start of another move lower; the 4hr timeframe is forming a head and shoulders pattern at the key resistance offering us different options to short the market.

peterthinkhuge

BRENT CRUDE OIL is continuing to form lower lows and lower highs on the daily timeframe. Oil prices look bearish here with the monthly lows of 52.00 likely to be targeted for long term swing positions. The daily chart suggests we could see a retracement back into the lows of 60.32 where we could see sellers continue the downtrend.

peterthinkhuge

GBPUSD has broken through trendline support suggesting we could see further downside here. The daily trend is down and the 4hr looks to keep on that path with the 20, 50 and 200 EMA in line also. Now the price has broken through the trendline support we could look to short this market with targets of the key lows.

02:46

peterthinkhuge

In yesterdays post about EURAUD, we looked at the price re-test the yearly highs. In this video we breakdown using top-down analysis approach where we could see some short-term trading opportunities.