Mixed signal.
There is not setup yet other than price being at support. EUR/USD is at the bottom of the range. As long support holds, I treat support as support. I am not looking to short EUR/USD as long we did not get a break of support. I am rather looking for a bounce. Everybody is talking about a more hawkish fed. I do not want to discuss about that. The commone expectation is a rate hike. I am not going to position myself based on other people expectation. Bottom line, above support I am bullish, below support I am bearish.
EUR vs CAD
Bearish bias for the week.
EUR vs CAD did break support and closed below 1,40 with a strong bearish candle. This puts my bias in favour of the bears. I'll be keeping an eye for bearish setups.
GBP vs CAD
Bearish bias for the week.
Price formed a Bearish Engulfing Pattern below 1,70. GBP vs CAD finally managed to break below support. But there is still the 1,65 level as a psychological level that needs to get broken for a strong bearish bias.
EUR vs NZD
Bearish bias for the week.
EUR vs NZD did close below support and below 1,50 with a Bearish Outisde Bar. This puts my bias in favour of the bears for the week.
NZD vs CAD
Bearish bias for the week.
NZD vs CAD did break out of a small consolodation pattern. The close below the mother and below the 0,95 put my bias in favour of the bears. The first support level is only about 100 pips down at the level of the bull fractals. That is something to consider before taking a trade.
DAX30
Bullish bias for the week.
DAX performed a strong close above range resistance and closed above 11.000. This is a strong bullish sign. My bias is bullish for the week. Ideally we get a retrace back to range resistance which should act as support now. Even though my bias is bullish, I am not interested to take longs without a pullback first. Keep in mind that price is not in close proximity to resistance at 11.300.
Nikkei 225
Bullish bias for the week.
The strong blose above 19.000 puts my bias in favour of the bulls. Keep in mind that we have 5 successive bullish candles in a row. We may get a pullback sooner or later. The next interesting level where we may see an attempt for a pullback is about the 19.500 level (slightly below).
S&P 500
Bullish bias for the week.
Price is breaking ATHs. That is a strong bullish sign. I am not looking for weakness. My bias is bullish. Wednesday might change the whole picture. But what counts is what is now. And that is a strong bullish market.
EUR vs AUD
Bearish bias for the week.
My bias is bearish, however I am aware price is inside a support zone. But last week candle shows me a rejection, a close below a consolodation pattern. If I had to trade this asset, I'd be looking for short setups on pullbacks.
EUR vs GBP
Mixed signal.
Basically I am bearish below 0,85. But price is at support. This gives me a mixed bias. I'll be keeping an eye for both long and short opportunities. And if there is something I like I might go for it.
GBP vs NZD
Bearish bias for the week.
Last week close confirmed the previous week Hanging Man. This happened at former resistance and below 1,80. This puts my bias in favour of the bears.
Happy trading,
TT
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