AUD: As we anticipated price bounced off the 2016 Highs @ 0.7800, we expect this bull-run to continue as it looks evident on the chart that we may see a long term continuation of this trend. Going into the week, we expect to see a possible violation of the 2004 highs / 2010 lows @ 0.8000 & 0.80700 respectively for us to confirm that this new trend is here to stay. We will be looking at buying into the potential uptrend continuation.
BIAS: Bullish. Buy @ 0.78900~0.79000
CAD: As expected we saw price pull away from the Intermediary Offshoot Support @ 1.24750 which is the last defence line before we say the bears have taken over the market. We expected this move to break above the 2005/2015 @ 1.27500 Major Resistance Zones but surprisingly the bears stepped in coupled with the Better than expected CPI data pushing prices down. Going into the week, we will be looking at the 1.25500 area for a potential buy trade, failure at that zone may likely violate the 1.24750 area.
BIAS: Bullish. Buy @ 1.25500 (On a failure we sell for a possible break of 1.24750).
CHF: The impact of the stand-off between Kim and Trump has subsided, Market reaction has returned to normalcy nevertheless there’s tension in the air so anything can still happen for a resumption of safe-haven inflows but Technically Speaking, We see the strong rejection of 2016 lows @ 0.94500, with all the irrational reaction price didn’t close below the 2008 Major Support Zone @ 0.96500 therefore we look to go long.
BIAS: Bullish. Buy @ 0.96300.
EUR: The Bulls are clearly defending the 2015/2016 Highs @ 1.16600 having violated it last month. We see a clear rejection off that low last week. Going forward we anticipate a clear break of the 2010 lows @ 1.18750 for the bulls to completely take over the market, right now price is above the Intermediate Support Zone @ 1.17500.
BIAS: Bullish. Buy @ 1.7500
GBP: Clear uptrend in place, price at a critical support zone “The Post Brexit Lows”@ 1.28500 looking like an Inverted Head and Shoulders Pattern. A break below this point will change the bias to a bearish one hence sentiment, we expect the bulls to defend that zone. Therefore we look to buy.
BIAS: Bullish. Buy @ 1.28500~1.28200.
JPY: The UJ is in a clear uptrend, the bull rally from has retraced into the 2006 Lows @ 108.700 testing it 3 times so far this year and forming a triple bottom. Technically we expect that zone to hold for a continuation of the rally. We have a potential bullish bat terminating at that zone on the daily.
BIAS: Bullish. Buy on a break and retest of 109.500 or Sell on a failure (Break below& retest) @ 108.700.
NZD: Price is hovering above the 1994 Significant high @ 0.71800 having found resistance from the Oct 2009 Intermediate High @ 0.75300 and closing below the 2005 Major Range High of 0.74500~0.73800. Going into the week we expect price to stay above the 1994 High so we look to buy at a possible left shoulder of a potential H&S Pattern on 4hr Chart.
BIAS: Bullish. Buy @ 0.72600 / 0.73150
XAUUSD: Gradual build up in bullish momentum observed on the weekly chart but being resisted to form a 3ple Top @ the Intermediate Resistance @ 1297.00. Going into the week Caution will be applied even though we have a clear rejection which formed a pin-bar on the daily chart portending a sell-off we will still thread softly cause the bears may be in for a surprise bull trend.
BIAS: Bullish. Buy @ 1282.50.
WTI: Inverted H&S playing out on the Monthly chart portending bullish trend. Market finding support on the April 2005 Major Support Zone with a strong rejection. Going into the week we expect the momentum to continue so we look for opportunities to go long.
BIAS: Bullish. Buy @ 48.10
EURAUD: The Lows of 2000 @ 1.49900 is a defining point for the pair, we saw an assault on that zone last month by the bulls a break above that zone changes the Trend to a Bullish trend. Right now price is finding resistance @ that zone. A Break below the Intermediate Zone @ 1.47200 would open up price for more downside move on the flip side if that point holds we may see a bullish assault again @ 1.49900 and a possible violation of it.
BIAS: On the sideline.
EURCAD: Strong rejection on the Monthly chart from the intermediate Resistance Zone @ 1.50200 pushing below 2 Major Zones @ 1.48800 & 1.48150 respectively which is the 2003 Low & Nov 2008 Low in order. The Question that arises is “Will The Downtrend Continue?” On a retest of the 1.48150 we expect the resumption of the bear trend, on a break above we may see the tide change immediately.
BIAS: Bearish. Sell @ 1.48300~1.48150.
EURGBP: Price is at the 2010 High @ 0.91500 culminating into a Potential Bearish Bat a break above that zone will open prices up for the 2016 High @ 0.9300 & 2008 High @ 0.94200.
BIAS: Bearish. sell @ 0.91500
EURJPY: So far we have seen a strong rally in the EURJPY this Year, Looking like the 2nd Leg of the ABCD Pattern from the Bullish rally from last year, so clearly we see the pair is in an uptrend. Last week we anticipated a sell-off from the 2005 low @ 130.500 which kicked in. Going into the new week, we expect to see a reaction from the April 2010 Highs @ 128.00.
BIAS: Bullish. Buy @ 128.00
EURNZD: Clear build up in bullish momentum on the daily chart, price is aiming for the 2005 lows @ 1.63300 but now finding rejection at 2011 intermediate Resistance Zone @ 1.61900. Going into the week we anticipate the bull trend to continue so we look for an opportunity to go long.
BIAS: Side-lines more clarity needed (Possible Buy on a break above and retest of the 1.60800 Intermediate Zone).
GBPAUD: We still maintain our outlook on the Bull trend on GA; Market Price is flirting with the 2012 Highs @ 1.61300 we expect that point to hold Support, therefore we look for an opportunity to go long.
BIAS: Bullish. Buy @ 1.62000~1.61800.
GBPCAD: Price is trading below the 2011 Highs @ 1.64000, this could portend a resumption of the downtrend nevertheless we need to see price trade below the 2009 Lows/2012 Highs Intermediate Zone for the bears to reclaim the market pending then we still anticipate bullishness in the market, so we look to go long.
BIAS: Bullish. Buy @ 1.61500
GBPJPY: Strong rejection from the Lows of 2000 @ 148.000 confirming the retracement. Price is now at the Highs of 2011 @139.800, we expect to see a bounce from that zone, It also coincides with a bullish bat with the D-Point terminating at Fib 88.6%.
BIAS: Bullish. Buy @ 140.500 or 139.800 (on a failure of 140.500).
GBPNZD: Price is below the 2013 Lows @ 1.76800 meaning we may see further weakness on this pair.
BIAS: Side-lines more clarity needed.
AUDCAD: Price is trading below the 1998 high @ 1.00600 which may mean further weakness, but we have seen a clear rejection of the 2005/2008 Highs @ 0.98400 showing strong bullish momentum, we anticipate that this bullish move may continue. Therefore we will be looking to go long.
BIAS: Bullish- Buy @ 0.99600~0.99400.
AUDNZD: Price in a clear uptrend having cleared the 2003 Lows @ 1.06200 heading for the 2007 high @ 1.09100, we expect price to meet an obstacle at that zone pending then we look for an opportunity to go long meaning we buy on dips.
BIAS: Bullish- Buy on a break and retest of 1.08500.