Had some strong price action on Friday which can confuse the weekly signals, so something to keep in mind with the weekly view. With that, I'm going through all major crosses, Oil gold and some equity indices.
$EURUSD
*Weeklys: bearish inside week following huge candle prior week, month and a half rejection of 1.09. Attempted to bottom and sustain a rally unconvincingly.
*Dailys: confirms weekly narrative with each rejection of key technical levels coming down e.g. 20dma and bband
*Weeklys: bearish inside week following huge candle prior week, month and a half rejection of 1.09. Attempted to bottom and sustain a rally unconvincingly.
*Dailys: confirms weekly narrative with each rejection of key technical levels coming down e.g. 20dma and bband
$GBPUSD
*Weeklys: breakdown exposing 1.2 handle
*Dailys: Friday biggest daily bear candle, price action traders usually skeptical/suspicious of this but given news flow I think this technical picture is well supported with bitter brexit looking likely regardless.
*Weeklys: breakdown exposing 1.2 handle
*Dailys: Friday biggest daily bear candle, price action traders usually skeptical/suspicious of this but given news flow I think this technical picture is well supported with bitter brexit looking likely regardless.
$EURGBP
*Weeklys: huge bounce and breakout but now at its monthly 1sd upper band.
*Dailys: Wed Thu dojis but Friday produced a solid break higher.
EUR>GBP in risk off environment
*Weeklys: huge bounce and breakout but now at its monthly 1sd upper band.
*Dailys: Wed Thu dojis but Friday produced a solid break higher.
EUR>GBP in risk off environment
$AUDUSD
*Weeklys: 3 week rejection of the 0.65 handle and channel
*Dailys: resilient but attempting to confirm rejection and breakdown. Not convinced thus far but has closed below the 20dma on friday.
*Weeklys: 3 week rejection of the 0.65 handle and channel
*Dailys: resilient but attempting to confirm rejection and breakdown. Not convinced thus far but has closed below the 20dma on friday.
$NZDUSD
*Weeklys: strong breakdown candle from post crash consolidation.
*Dailys: Friday clear breakdown candle after Thursday stalled and attempted to base at channel support.
*Weeklys: strong breakdown candle from post crash consolidation.
*Dailys: Friday clear breakdown candle after Thursday stalled and attempted to base at channel support.
$AUDNZD
*Weeklys: very bullish continuation candle but technically overbought entering key pivot area 1.08-1.09
*Dailys: breakout on Wednesday, decent supply in 1.08s so far.
I'm short this and expecting a turn from a potential overshoot of 1.075 but not liking it much.
*Weeklys: very bullish continuation candle but technically overbought entering key pivot area 1.08-1.09
*Dailys: breakout on Wednesday, decent supply in 1.08s so far.
I'm short this and expecting a turn from a potential overshoot of 1.075 but not liking it much.
$USDJPY
Weeklys: 61,8 fib rejection producing an unconvincing follow up to the prior weeks reversal candle.
Dailys: attempting to base at 107 with unconvincing rallies.
Technical picture implying more chop around the 107.50 level
Weeklys: 61,8 fib rejection producing an unconvincing follow up to the prior weeks reversal candle.
Dailys: attempting to base at 107 with unconvincing rallies.
Technical picture implying more chop around the 107.50 level
$USDCHF
Some strange price action recently with periods of sudden across the board USD strength with CHF weakness.
Weeklys: bullish compression
Dailys: confirms bullish bia1s with breakout appearing likely
Some strange price action recently with periods of sudden across the board USD strength with CHF weakness.
Weeklys: bullish compression
Dailys: confirms bullish bia1s with breakout appearing likely
$CHFJPY
Weeklys: efforts to base around110 level for past month and a half but so far rejecting technical levels to the upside LowerBB 100wma 50wma.
Dailys: symmetrical price action reflecting efforts to base but upside moves not been covincing.
Maintaining mildly JPY>CHF view.
Weeklys: efforts to base around110 level for past month and a half but so far rejecting technical levels to the upside LowerBB 100wma 50wma.
Dailys: symmetrical price action reflecting efforts to base but upside moves not been covincing.
Maintaining mildly JPY>CHF view.
$USDNOK
Weeklys: doji at base of the structure
Dailys: morning star structure, RSI flattening under midpoint and pointing up, stochs also coming out of oversold.
$EURNOK
Similar weekly doji and bullish outside day makes it appear basing efforts are successful
Weeklys: doji at base of the structure
Dailys: morning star structure, RSI flattening under midpoint and pointing up, stochs also coming out of oversold.
$EURNOK
Similar weekly doji and bullish outside day makes it appear basing efforts are successful
$USDSEK
Weeklys: 2 week indecision appears to suggest the bottom is in.
Dailys: some basing and compression for price action around key levels suggests a breakout could be imminent.
Weeklys: 2 week indecision appears to suggest the bottom is in.
Dailys: some basing and compression for price action around key levels suggests a breakout could be imminent.
$USDMXN one of my favorites
Weeklys: structurally attempting to rollover but last bullish hammer candle pointing into trend signals a decent effort to base at 23.75 and continue pushing north.
Dailys/hourlys: potential bottoming patterns.
Weeklys: structurally attempting to rollover but last bullish hammer candle pointing into trend signals a decent effort to base at 23.75 and continue pushing north.
Dailys/hourlys: potential bottoming patterns.
$USDZAR
Weeklys: trying to rollover but last weeks bounce maintained bulish bias.
Dailys: bullish momentum picking up but not price action has not convinced of either direction from 18.50 yet.
Weeklys: trying to rollover but last weeks bounce maintained bulish bias.
Dailys: bullish momentum picking up but not price action has not convinced of either direction from 18.50 yet.
$USDRUB
Weeklys: bull flag print with descending triangle hinting caution for bulls with price leaning on the 73 handle. Dailys: Efforts to base is there, improving outlook on oil might help send this lower. Price action coiling up but direction unclear.
Weeklys: bull flag print with descending triangle hinting caution for bulls with price leaning on the 73 handle. Dailys: Efforts to base is there, improving outlook on oil might help send this lower. Price action coiling up but direction unclear.
$AUDJPY $NZDJPY
Weeklys: bearish weekly print reversing prior bullish candle signaling a 2 week rejection, NZDJPY showing a much stronger rejection of its respective key levels.
Weeklys: bearish weekly print reversing prior bullish candle signaling a 2 week rejection, NZDJPY showing a much stronger rejection of its respective key levels.
$USOIL $WTI
Monthly/Weeklys: morning star reversals
Dailys: structural breakout.
Oil chart is as bullish as you can get. Would be cautious being bearish oil despite current macro backdrop.
Monthly/Weeklys: morning star reversals
Dailys: structural breakout.
Oil chart is as bullish as you can get. Would be cautious being bearish oil despite current macro backdrop.
$GOLD $XAUUSD
Weeklys: a timid higher high
Dailys: breakout into 1750 level (I've posted about this psych level being resistance to moves higher) but could expect a bit of chop before new highs.
Weeklys: a timid higher high
Dailys: breakout into 1750 level (I've posted about this psych level being resistance to moves higher) but could expect a bit of chop before new highs.
SP500 $SPX $ES
Weeklys: bearish outside week.
Dailys: bullish Thursday reversal candle, Friday bullish higher high candle confirms reversal but very unconvincingly.
Hourlys shows substantive supply above 2850.
Weeklys: bearish outside week.
Dailys: bullish Thursday reversal candle, Friday bullish higher high candle confirms reversal but very unconvincingly.
Hourlys shows substantive supply above 2850.
$DAX
Weeklys: bearish outside week negating bullish momentum.
Dailys: Thursday reversal follow up on Friday also hugely unconvincing.
Substantive supply above 10,600.
Weeklys: bearish outside week negating bullish momentum.
Dailys: Thursday reversal follow up on Friday also hugely unconvincing.
Substantive supply above 10,600.
$NIKKEI and $ASX
Weeklys: indecision at the top, around the 20k mark for JPN225 and 5400 for ASX200
Dailys: steady lower lows with deep flash dips.
Appears some of the more resilient major equity indices.
Weeklys: indecision at the top, around the 20k mark for JPN225 and 5400 for ASX200
Dailys: steady lower lows with deep flash dips.
Appears some of the more resilient major equity indices.
