AUD: Last week we saw the 0.80700 area get violated last week just as we anticipated, but we saw the rally fail back below the 0.80700 handle which is the 2010 Low/ April 2015 High. Going into the week we expect to see the market find resistance around this area as the market tries to decide its next point of direction.
BIAS: Bearish. Sell @ 0.80700.
CAD: Its clearly evident that the trend has changed on the LOONIE just as it has on other major currencies against the BUCK/GREEN BACK, having violated the 2010 /2015 Highs @ 1.27500 and moving on to also violate the next support zone @ 1.24900 the 2016 low. Going into the week we will be eyeing the 1.21200 S-Zone which is the June 2015 Low for a possible pull back, then we look for an opportunity to join the downtrend.
BIAS: Bullish. Buy @ 0.79650
EUR: We saw another attempt by the Bulls @ the 2012 Lows @ 1.20400, on Friday we saw a failure back below this R-Zone, this could portend further weakness in the bullish run. We will be looking at selling the failure at this high.
BIAS: Bearish. Sell @ 1.20550.
GBP: As anticipated the Cable continued its bullish run, violating two Intermediate Levels beyond our expectations. After all the Volatile moves will the bull-run continue? Well we think there’s a retracement in the works, we don’t know where it will start from but we think it will happen this week
BIAS: On the sideline, looking for clarity.
JPY: The Market Clearly broke below the 2006 Low @ 108.700 violating the uptrend and probably ushering in a new Bear trend. The Bear Rally stalled at the Intermediate S-Zone @ 107.500 which is the July 2016 High. Going into the week we will be looking at joining the Bear-trend nevertheless we will be buying into the retracement @ 107.500.
BIAS: Bullish. Buy @ 107.550
NZD: Price found support instead @ the 1996 high (0.71800) but fell short below the Intermediate R-Zone @ 0.73150, more bearish pressure making prices to close below the current reactional zone @ 0.72900 forming a bearish Pin-Bar on the Daily. Going into the week we will be looking at selling.
BIAS: Bearish. Sell @ 0.72900~0.72600.
XAU: Though the Yellow Metal is in an uptrend, we observe some price weakness as price approaches the 2016 High @ 1375.14, Price is exactly @ the Intermediate R-zone @ 1359.05 and having a hard time sustaining the bull trend. Going into the week we may see a retest of the 1359.05 area nevertheless we will wait until clarity returns to show us the next market direction
BIAS: On the sideline, looking for clarity.
EURAUD: Price is below the 2000 lows @ 1.49900 although we expected a break down in prices but it seems like the bulls are not giving up easily. Last week closed like a bullish Dragonfly. Going into the week we will be looking at buying but on a close above 1.49900 or a break above and retest of the same zone.
BIAS: Bullish. Buy on a break above and retest of the 1.49900.
EURCAD: Though Last week was a bearish week for the pair we still anticipate that the bulls will still defend their territory. Price stopped short of the 2008 Lows @ 1.44000 at the Intermediate S-Zone @ 1.44900. We will want to see the bulls confirm their tenacity by trading above the S-Zone before joining in on the trend.
BIAS: Bullish. Buy on a break above and retest of the 1.46500
EURGBP: Price failed @ the 2016 High @ 0.93000, from the charts its looking like there’s a long way down to go, meaning we may have further price weakness. In the coming week we will look at selling.
BIAS: Bearish. Sell @ 0.91400.
EURJPY: Price broke back below the 2005 Lows @ 130.500 portending further bearish continuation. We look to sell at the attraction point.
BIAS: Bearish. Sell @ 130.000
EURNZD: Price has cleared the 2005 key Level @ 1.63400, showing us a clear Bullish trend in place, Last week we had a retracement into the intermediate level @ 1.64500 and a quick rejection showing us that the bulls still got steam to continue the bullish move. Even though we have a bullish outlook we will observe closely as we look for buying opportunities.
BIAS: Bullish. Buy on a break-above then retest of 1.65600.
GBPAUD: Price is holding above the 2012 Key zone @ 1.61300 implying the bullish trend is still in place, last week we saw price rejecting from the 1.62000 intermediate zone. Going into the new week I would like to see the 1.63700 zone break to the upside to further confirm the bull trend.
BIAS: Bearish. Buy on a break-above then retest of 1.63700.
GBPCAD: Price stopped a few pips shy of the August 2013 Key Zone @ 1.55900, precisely on the Lower range of the GAP that happened between Jan 13th and Jan 15th offering a nice support. We believe the uptrend continuation has commenced from this zone, therefore we will be looking to go long when the opportunity presents itself, we will be watching out for two likely zones.
BIAS: Bullish. Buy @ 1. (1.59950 Highly Likely) or 2. (1.59350).
GBPJPY: With lots of pressure coming into the YEN due to Geopolitical Tensions we may see a further decline on the GUPPY as investors jostle for safety, In this vein we will look to sell the pair. Technically we see the pair finding resistance below the April 2010 High @ 149.500, we have seen a retracement back into the Intermediate Zone @ 142.900, we expect this point to hold therefore we look to sell from here.
BIAS: Bearish. Sell @ 142.900.
