AUD: Having violated the 2016 Highs @ 0.78000~0.77000 the AUSSIE has clearly established an uptrend, although last week market topped out at the 2010 Lows/April 2015 Highs @ 0.87000 we still don’t see a clear direction into the coming week. We see bearish pressure no doubt but a clear break of the intermediate Support Zone @ 0.79000 will open up more room to the downside probably back to the 2010 highs. On the flip side if price pushes above the intermediate Support Zone @ 0.79500 we should see a retest of the 0.80700 area.
BIAS: Bearish. Sell @ a break and retest of 0.79000 or at the failure of 0.79500.
CAD: As we anticipated last week on the LOONIE we saw a pull back from the offshoot support @ 1.24800 supported prices back up, the question that arises now is “Will price break back into the 2005 High (Very Significant Zone) @ 1.27500? A break above the intermediate Support Zone @ 1.26600 could make that happen, we already see a weekly Bullish Engulfing pattern which may buttress this. The Zones to watch out for going into the week will be
1. 1.26600 for a break and retest for a buy
2. 1.26000 for a retest and buy failure at this point will open room for a downside move.
BIAS: Bullish. Buy @ break and retest of 1.26600 or retest of 1.26000
CHF: Clear uptrend in place after the rejection of the 2016 Lows @ 0.94500. Last week price cleared the 2008 Lows Resistance area @ 0.96500 further buttressing the bullish trend. In the coming week we will like to see the intermediate Resistance Zone @ 0.97700 broken to further give credence to the Bullish trend otherwise we could see a sell-off.
BIAS: Bullish. Buy @ break above and retest of 0.97700 or a retest of 0.96500
EUR: Clear rejection from the 2010 Lows @ 1.18800, we expect to see further selling pressure to the down side into the coming week. Levels to look out for will be Tuesdays Low @ 1.17900 & Last weeks high @ 1.17750.
BIAS: Bearish. Sell @1.17900~1.7750.
GBP: Clear rejection from the post Brexit Lows @ 1.32400. Price is at a defining point @ the intermediate support @ 1.30500. We may see a continuation to the downside or a pull-back. If price trades below that zone then we see a breakdown of price to the July 2016 Lows @ 1.28550, on the flipside if price stays above 1.30500 then it could be a continuation of the Bull trend prices having cleared the 1.28550 previously.
BIAS: Bearish. Sell on a clear break of 1.30500 else buy on a break above 1.30500.
JPY: Price is trading around the 20008 highs @ 110.800. Last week the offshoot support @ 110.100 held prices, moving into the week we hope to see prices trade above the 110.800 region for the bullish continuation.
BIAS: Bullish. Buy on a clear break above and retest of 110.800
NZD: Price is in a very unclear position now. The 2011 & 2012 Lows @ 0.73800 & 0.74500 respectively are the major zones for price to clear now, for the uptrend to continue we should see the 2011 lows hold, a break below should see further swoon down to the 1996 high @ 0.71800.
BIAS: Bullish. Buy @ 0.73800.
XAU: Clear rejection from the 2009 High @ 1226.0 confirming the bullish trend. We will be looking at the 1250.0 Support Zone to buy from moving into the coming week.
BIAS: Bullish. Buy @ 1250.0
EURAUD: Clear rejection from the Lows of 2000 @ 1.49900, we want to see a break above that zone for the bullish trend to continue else we just may see the beginning of a deep correction from that zone. With the engulfing pattern showing on the daily chart we look for a retest of the Intermediate Resistance zone @ 1.48800.
BIAS: Bearish. Sell @ 1.48900~1.48800.
EURCAD: The Bull trend that started at the beginning of the year may be facing jeopardy, the candle formation at the 2003 low @ 1.48800 portends this after the engulfing pattern from June. Going into the week we will be looking at Selling from 1.48800.
BIAS: Bearish. Sell @ 1.48800.
EURGBP: We See prices rejecting from the 2011 highs @ 0.90800 culminating into a potential Bearish Bat. There are two things we will be looking at a possible retest of the 0.90800 zone for a sell or a break below 0.90200 for a sell-off.
BIAS: Bearish. Sell @ 0.90800/0.90200.
EURJPY: A build in Bearish pressure at the 2005 low @ 130.500. We will be looking for a potential sell-off from that zone.
BIAS: Bearish. Sell @ 130.500
EURNZD: Established bullish trend on the Monthly chart, strong Break above the Intermediate Support Zone at 1.57800, we will be looking at 1.58500 for a possible continuation to the upside.
BIAS: Bullish. Buy @ 1.58500
GBPAUD: A possible change in market sentiment after the BOE meeting last week, Price is at a critical point having violated the Oct 2013 Lows @ 1.65900. Possible downside continuation to follow suite. We look for an opportunity to sell.
BIAS: Bearish. Sell @ 1.64900.
GBPCAD: Price is trading above the Significant highs of 2010/2011 @ 1.6400, we expect the bullish trend to continue therefore we will be looking for a buy trade around 1.65000.
BIAS: Bullish. Buy @ 1.6500~1.64500
GBCHF: Clear uptrend established on this pair having found support @ 1.23100. A Sustained break above 1.6500 will see an upward continuation.
BIAS: Bullish. Buy @ 1.58500
GBPJPY: Clear downtrend established seeing that Price rejected from the 2000 lows at 1.48800. Going into the week we expect the bearish move to continue.
BIAS: Bearish. Sell @ 145.500
GBPNZD: BIAS: Bearish. Sell @ 1.76800
