Bearish bias for the week.
With the rejectin and close below 1,10 my bias for is bearish. Looking for 1,10 to hold as resistance. Be aware of support where the weekly closed. Price is at an interesting level. I'll be only interested in convicing setups.
EUR vs CAD
Bullish bias for the week.
Price is inside the range marked in the square. Last week did bounce off the range support. The long lower wick presents buying pressure. Adding the close above 1,45 puts my bias in favour of the bulls. This is not a nice setup but worth to keep an eye on.
AUD vs CAD
Bullis bias for the week.
AUD/CAD is an interesting pair that I have been monitoring for some time. The yellow zone has reacted as resitance. But it seems like we are going to see a break of resistance. The previous bearish setup did not have follow through. Last week made a strong bullish candle engulfing the previous one. I do not like to call this a Bull Eng Pattern because of the location. But I like the shape of the candle and the location. A strong move above parity sets my bias in favour of the bulls.
CAD vs JPY
Bearish bias for the week ahead.
We have a Dark Cloud Cover just below the 80 level. This sets my bias in favour of the bears. I will be looking for possibilities to add to the existing position.
NZD vs JPY
Bearish bias for the week.
Wo do not have a clear cut signal. Last week candle formed a long upper wick. This is not really a Pinbar / Shooting Star. However, the long upper wick shows rejection of 75 which is a sign that bears are present. It's the location that makes this candle interesting.
GBP vs CAD
Rather bullish bias for the week.
We do not really have a strong signal. But I like how price respects 1,60. We are in a bearish trend. Price moved 5.000 pips this year. And there is still potential to reach the ATLs another 1.000 pips down. But we never have a straight line. A pullback is due. We may see a test of 1,65 (or even 1,70). I was looking for long setups last week, but did not get my entry. As stated above, my bias is rather bullish. This asset is not one of the very interesting assets. You might be better off looking at a different pair. However, it is good to keep an eye on this.
AUD vs NZD
Bearish bias for the week.
Price did react at resistance. My bias for the week ahead is bearish. We may see a move to 1,05. Depending on how the week ahead closes we might see a test of the ATLs in the future. It seems like we may be forming a range and price is at range resistance.
EUR vs NZD
Mixed signal.
With the strong bearish candle below 1,55 I am bearish. However, price is at support also which is potentially bullish. The low of last week candle until 1,50 is a support zone. There may not be a trade next week. The next week close is going to be interesting.
NZD vs CAD
Bullish bias for the week ahead.
Price formed a strong Bullish Engulfing Pattern with a close above 0,95. This sets my bias in favour of the bulls. I am aware that price is just below ATHs and we may get a bounce inside the red zone. But the weekly signal is bullish. So I will be looking for both, longs on a retrace and shorts in the red zone.
Mixed signal for the week.
With price below 115 I am rather bearish. But we have a small range and price is at range support. The trend is bearish though. And this puts more weight in favour of bears. That's why I'd be more interested in bearish setups.
USD vs JPY
Mixed signal for the week ahead.
The trend is bearish. And we are at a possible range resitance. We do not really have a confirmed Candlestick pattern that is bearish yet. Last week formed an Inside Candle. A break below would be bearish.
AUD vs JPY
Bearish bias for the week.
We do not have a strong weekly signal with last week close. But the rejection and the small candle puts my bias in favour of the bears. Price was not able to move above the 80 level and formed an Indecision Candle with a rather long upper wick.
AUD vs USD
Rather bearish bias for the week.
AUD/USD remains interesting. While above 0,75 I am rather bullish, we have a rejection of the resitance level marked with the grey square.
EUR vs GBP
Bearish bias for the week.
I was looking for a short trigger last week but failed to get my trade. With the close below 0.90 my bias is bearish. This goes in line with my anaylsis on other EUR pairs where I have a either a bearish bias or a rather bearish bias. GBP shows signs of strength. How strong the GBP is and how long the strength is going to hold is uncertain. But for now we have signs of strength in favour of GBP.
NZD vs USD
Bullish bias for the week.
The setup is bullish. However the long upper wick diminishes the bullish strength a litle bit. We do not really want long upper wicks when we look to go long. Anyway, we have a weak Bullish Engulfing Pattern. The Channel and the bir round number are giving nice confluence. A close above the parallel red lines would be a strong bullish signal.
USD vs CAD
Bullish bias for the week.
We had another close above the range resistance level with a stong bullish candle forming an Outside Candle which is a bullish continuation candle. This sets my bias in favour of the bulls.
US Oil
This Asset is still in the vicinity of resistance. Since two weeks price is not able to break above nor below. While the overal market structure suggests bullishness, the recent candles signal bearishness. US Oil and USD/CAD are strong negative correlated. We have a bullish signal on USD/CAD which would signal a rather bearish US Oil. A break below would confirm this chain of thought.
GER 30
Bullish bias for the week.
The bounce of 10.500 sets my bias in favour of bulls. However, price is at some resitance. It is not a strong resistance level. But the yellow zone presents a trouble area.
JPN225
Bullish bias for the week.
The strong close above 17.000 and above the previous swing high puts my bias in favour of the bulls.
There are some nice signals for the week ahead and some rather weak signals. My focus will be on the strong signals while I'll also keep an eye on the other assets. I won't be searching a tread. I am rather interested in how each single asset develops to seek out futuer opportunities. Not taking a trade is also a position.
A cross curreny analysis shows me CAD weakness. While USD seems strong I get a different signal on NZD/USD. NZD is a difficult asset. NZD shows strength on some pairs and weakness on other pairs. JPY seems to be strong.
Happy trading,
TT
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