By Chuks Obiri
chuks_obiri@yahoo.com
AUD: The Bulls suddenly stepped up in a surprise move taking out the significant zone @ 0.76200. Price right now is at the 1994/2016 highs @ 0.7800, we expect this zone to put downward pressure on the bulls. Looking into the week we look at Selling from this zone.
BIAS: Bearish. Sell @ 0.78400~0.78300
CAD: Price has broken below the 2005 high @ 1.27500 but the bears have to take out the intermediate low (An offshoot) @ 1.26600. A break below here would open prices up for 1.25500~1.24800 range support else we should see prices hold support @ 1.26600.
BIAS: Bullish. Buy @ 1.26600.
EUR: The Bulls look poised for a take-over of the market, trading dangerously at the 2015/2016 Highs @ 1.14600. A break above here would negate the bearish trend and open up price for the 2005 low @ 1.16600, therefore until price violates the 1.14600 handle we are still short on this pair.
BIAS: Bearish. Sell @ 1.14600
GBP: The cable keeps posting higher highs typical of an up-trending market or the beginning of an uptrend. Price is trading right now above the May 2017 Highs @ 1.30500, we look for a retest of that zone for a possible long continuation.
BIAS: Bullish. Buy @ 1.30500
JPY: As anticipated we saw a retracement from the offshoot Resistance @ 114.300, the up-trend still remains in place, we expect the bullish trend to continue from current price levels. Therefore we look to buy @ 112.500 the 38.2 fib of June Lows @ 108.700 to Current July highs @ 114.300.
BIAS: Bullish. Buy @ 112.400.
NZD: Price is finally hovering around the Feb Highs @ 0.73800 R-Zone, we expect this zone to put downward pressure on the Kiwi, being a Major R-Zone.
BIAS: Bearish. Sell @ 0.73800.
XAU: Based on our expectations for last week the Yellow Metal respected the Bullish Bat we spotted on the daily Chart. Price is right now trading above the 2009 High @ 1226.00, we look for a buy trade around that zone.
BIAS: Bullish. Buy @ 1227.80~1226.00.
EURAUD: Clear rejection from the Lows of 2000 @ 1.49900, which is characteristic of a downtrend. We look for selling opportunities based of this fact, nevertheless price is @ an offshoot of an intermediary Support zone @ 1.47200 (Offshoot @ 1.46600) we look to buy of this zones else a clear violation will mean further decline in prices.
BIAS: Bullish. Buy @ 1.46300.
EURCAD: Large decline in Prices after BOC Interest rate decision, price is right now closing in on the 2008 lows @ 1.4400 nevertheless we have an intermediary zone @ 1.44900 to contend with. We look to buy from that region
BIAS: Bullish. Buy @ 1.44900
EURGBP: A clear rejection of the 2013 highs @ 0.88200~0.87700 implies a possible continuation of the bearish trend. We will be looking at a possible retest of the 2013 highs for a possible short trade.
BIAS: Bearish. Sell @ 0.87700~87600
EURJPY: On the EURJPY we would like to see a clear break of the 2005 lows @ 130.500 to confirm the bullish trend continuation. Last week we saw a clear rejection of that level. Going into the week we expect the weakness to persist so we will be looking for an opportunity to go short @ 129.300~129.000 minor R-Zone area.
BIAS: Bearish. Sell @ 129.300~129.000
EURNZD: Uncertainty appears on the EURNZD chart as to where price is likely to go next, nevertheless based on current price levels we anticipate a continuous rise in price, therefore we look to buy.
BIAS: Bullish. Buy @ 1.55555.
GBPAUD: Although price still sits at the 2013 Oct Lows @ 1.65900, we are still of the opinion that price should pick up from that zone. On the Lower time frame we see a clear rejection from that zone already, therefore we look for an opportunity to go long.
BIAS: Bullish. Buy @ 1.67000 on a further dip we buy @ 1.66400
GBPCAD: Until the 2009 Lows @ 1.64000 gets violated we are still of the opinion that the market remains in a long position. There’s a clear rejection of this zone last week so we look for an opportunity on getting in on the longs.
BIAS: Bullish. Buy @ 1.65000.
GBPJPY: While other YEN PAIRS are showing price weakness the GBPJPY seems to be showing bullish tenacity ramming into the 2000 lows @ 148.00. Since we are still in a sell area we will be looking at selling @ 147.500.
BIAS: Bearish. Sell @ 147.500.
GBPNZD: The 2013 Lows @ 1.76800 still seems to be holding Support. We expect the beginning of a new trend from that zone. We llok to join in on the bullish trend.
BIAS: Bullish. Buy @ 1.77300~1.76800 (If the first buy area is violated)
AUDCAD: Price is trading above the 1999 High @ 0.98400 having found rejection from the 0.97400 intermediate Support zone. We expect an uptrend continuation therefore we look at buying from 0.98700~0.98400.
BIAS: Bullish. Buy @ 0.98700~0.98400.
AUDNZD: Clear uptrend on the Charts, Price has finally violated the 2009 Lows @ 1.06200 therefore we expect prices to continue on its uptrend. We look to buy in the coming week.
BIAS: Bullish. Buy @ 1.06200.
USOIL: Crude Oil is at a potential Turning point after failing to break below the significant lows of 2015 @ 41.70, The Bulls from then on has successfully pierced the April 2005 Lows @ 46.30. we expect a retracement back into this zone for us to go long from here. In the mean time we will be going short as price has hit the offshoot Resistance zone @46.90.
BIAS: Bearish. Sell @ 46.90 for a potential Bullish. Buy @ 46.30.
TOP PICKS FOR MONDAY.
AUDUSD: BIAS: Bearish. Sell @ 0.78400~0.78300
USDCAD: BIAS: Bullish. Buy @ 1.26600.
EURUSD: BIAS: Bearish. Sell @ 1.14600
GBPUSD: BIAS: Bullish. Buy @ 1.30500
USDJPY: BIAS: Bullish. Buy @ 1.30500
NZDUSD: BIAS: Bearish. Sell @ 0.73800.
EURAUD: BIAS: Bullish. Buy @ 1.46300.
EURCAD: BIAS: Bullish. Buy @ 1.44900
EURJPY: BIAS: Bullish. Buy @ 1.44900
EURNZD: BIAS: Bullish. Buy @ 1.55555.
GBPAUD: BIAS: Bullish. Buy @ 1.67000 on a further dip we buy @ 1.66400
GBPCAD: BIAS: Bullish. Buy @ 1.65000.
GBPJPY: BIAS: Bearish. Sell @ 147.500.
GBPNZD:
