Mixed signal.
Price is at range support and shows signs of a bounce. Last week close is not a convicing bullish close. As we are at range support I favour the bulls.
EUR vs CAD
Mixed signal.
Basically we have a Bearish Outside Bar which is a bearish continuation pattern. But price is at support. I am bullish above 1,40. I am ready to go both ways. If I get a short trigger, my stops and take profit will be more aggressive. As price approaches 1,40 I'll get interested in longs. The weekly close will shed more light.
AUD vs CAD
Bearish bias for the week ahead.
We have a break of minor support followed by a test of old support. Last week closed below parity and we have bearish continuation pattern. This puts my bias in favour of the bears for the week ahead.
NZD vs JPY
Mixed signal.
We have 8 consecutive bullish weeks. Last week did close well above 80 which ads more power to the bulls. I won't be surprised to see a test of the grey rectangle. I am hesistant in taking a long trade after such a strong bullish move. However, if there is a long setup, I might take it. If I had to trade, it would be looking for a long setup.
GBP vs CAD
Mixed signal.
I am bearish below 1,70. There is no signal yet. If we get a weekly bearish close we'd have a confirmed Hanging Man formation. Without the weekly close the current weekly candle can be both, a bullish or a bearish sign. The long wick below can signal a rejection of lower prices which would confirm support. Or it could be a Hanging Man formation that needs to be confirmed. Price is inside the Bearish Engulfing Candle below 1,70.
GBP vs USD
Bullish bias for the week.
We have a strong close above 1,25 and a break of a local high. This puts my bias in favour of the bulls.
DAX30 / Ger30
Bearish bias for the week.
Price formed a Bearish Engulfing Pattern at range resistance. A close below 10.500 would add more fuel in favour of the bears.
Nikkei 225 / JPN225
Bearish bias for the week.
The Shooting Star just below 18.500 puts my bias in favour of the bears. The level this Shooting Star got formed is interesting. Call it Resistance or Supply. What counts is, we have a pattern that shows us signs of a bearish move ahead.
GBP vs JPY
Bullish bias for the week.
Even thoug price moved strong north, I have no reason to look for bearish setups. Looking to sell this pair is trying to sell strength. Without the Doji at the bottom of the up move, we have 7 consecutive bullish candles. Sooner or later we'll get a retracement. But there are no signs for that at the moment. An interesting level that I am having an eye on is 150 and above. That does not mean price is going to move more than 500 pips next week. But I am not looking for weakness unitl we reach that level. Unless the market shows me signs of weakness.
EUR vs GBP
Mixes signal.
We have 5 consecutive bearish candles. The market seems strong bearish. I do not want to buy weakness. However, price is at an interesting level which may turn out to be support. We need a successful test of this level to confirm we have support. The next strong support level would be the 80 level (about 500 pips south).
NZD vs USD
Bullish bias for the week.
We have a classic Morning Star Pattern. This is a bullish three candle reversal pattern. We have a bullish reversal pattern at support. We have a Market Structure shift. The overall trend is bearish. But we have signs of a trend shift in favour of the bulls. We have successiv higher highs followed by higher lows. The current minor bullish trend may turn out to be a strong pullback of the bearish trend. But what we see now is a bullish move and a bounce off support. As long price manages to stay above 0,70 and eventually breaks the 0,75 level we are in a bullish trend.
USD vs CAD
Bearish bias for the week ahead.
Price did break above the range and is now coming back to range resistance. This level should act as support. But what we currently see is a bearish reversal pattern engulfing the previous 5 candle bodies. USD/CAD was not able to stay above 1,35.
US Oil
Bullish bias for the week.
Even though we US Oil was not able to close above the yellow zone we have a stong push higher. The strong bullish candle with a close above 50 puts my bias in favour of the bulls. Sooner or later resistance is going to give in and we'll see price move to 60 and higher. The current Market Structure suggests we may get a close above 50 rather sooner than later.
NGAS
Bullish bias for the week ahead.
I added this asset just recently to my list. The strong close above the recent high puts my bias in favour of the bulls.
Note:
The cross currency analysis suggests a rather weak USD for the week ahead. So I will be looking for opportunities to sell the USD. Having a strong bearish bias on USD/CAD, a bullish bias on GBP/USD and NZD/USD make these assets more favourable opposed to EUR/USD or USD/CHF (the latter one is not listed here because USD/CHF is not as interesting as the ones listed for the week ahead. But the bias for USD/CHF is bearish as well).
USD/JPY and USD/CHF are not really interesting for the week ahead. But since I mentioned USD weakness accross the currencies I might as well put the charts for these below.
USD vs JPY
We have a fist sign of weakness. But there is no signal yet.
USD vs CHF
There is really nothing much to mention on both USD/JPY and USD/CHF other than the signs of weakness. USD/CHF is more intereting opposed to USD/JPY. There is no setup yet. But we have signs that USD strength is weakening and we may get a test of support.
Happy trading,
TT
Keine Kommentare:
Kommentar veröffentlichen