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- #23
- Edited 5:09pm Mar 28, 2015 4:35pm | Edited 5:09pm
- | Commercial User | Joined Oct 2012 | 3,968 Posts
Daily Trend & Chart Analysis
& Coming opportunities
Dollar strength has been present across the board for a while now, but has gotten over extended.
EUR/USD -- with a majority of traders now positioned short, expecting parity, I have tossed out the parity expectations and expect the Euro to be supported on any dips. So going forward, my intraday & week plan is to buy EUR/USD dips. This is for the near term, although EU may have bottomed for years to come.. we'll see about that one.
GBP/USD -- I'm still more bearish on. But of course it can piggy back higher on EU buying. Prefer selling rallies. Still some uncertainty here with elections coming in a few months.
EUR/GBP -- One trade that is starting to do well and has some indications of a bottom being put in place is EUR/GBP. My plan is to buy any dips on that pair, and if a dip comes close to the lows, to hold longer term and add to the position as it moves in my favor.
AUD/USD -- Questioning whether a bottom has been put in place. There are certainly some signs that we're at least closer to a bottom here. I'm a bit neutral on this one and am willing to take either side of the trade, but at this point, would probably prefer to buy dips.
NZD/USD -- More neutral here, but sort of expecting price to go lower in short term. More willing to sell rallies in short term.
AUD/NZD -- A very interesting pair that I've been enjoying lately. It keeps going lower and is not being supported @ 1.0285 as much as I have expected. New lows may be coming soon. Still though, I'm willing to play both sides here, and do kind of favor buying the dips because this one can bottom long term shortly. It is at a historically low price, and I expect a big rally to come in the near future.
USD/JPY -- Becoming bearish here. Anything in the 120-122 range is a sell zone IMO. I will be looking for shorting opportunities in coming weeks to hold for a while.
USD/CAD -- Looks toppy and I'm thinking we can have a full on trend reversal on this pair. Looking for selling opportunities.
Dow/S&P/Tech100 --- April is the strongest month of the year for DJIA. We've been ranging for a while now and it's rather concerning on the bull side how the market has failed to rally while European markets & JPN 225 have exploded higher. For the coming weeks, I think there should be some decent buying opportunities -- possibly a retest of the recent low on the dow (17544) , and then some strength for a bit, only to top out in April and have a nice sized correction in coming months....... So, for now I'm neutral and willing to take both sides, but overall, looking for a good short entry this month to hold for a bigger 10%+ trade!
Dax -- This market has rallied huge over the past months. I mean massive. For the next week or couple weeks, I'd expect a retest of highs to come at some point. I'm willing to play both sides of this market intraday.. it's currently my favorite market. It's a bit more intimidating to short this one, but I'd have to think we're topping out in April or possibly already topped out for the next 6 month+.
JPN 225 -- Monstrous rally here as well. 20,000 is within reach during April. Looking for buying opportunities and a test of 20,000, but here too, a bigger 10%+ correction, probably starting in April, is looming as well.
Crude Oil -- Have been bearish here for a very long time. But it seems crude wants to play the range now until breaking out past 54. I'm willing to play both sides on this market, will certainly sell any big rally intraday, but I'm starting to lean more towards buying big dips in the near term.
Gold -- Possibly has bottomed out long term. I have been saying -1000 would come.. I'm not so sure about that anymore. Starting to look a bit better, and I'd be interested in buying any nice size dip toward the 1150-1165 region, if it comes. 1180 is an extreme pivotal point, and we're once again above that level, as long as that remains the case, I will certainly be willing to take buy signals.
EURGBP monthly chart- showing a very likely bottom.
EUR/USD sentiment -- You can join the crowd, I'll remain an individual
& Coming opportunities
Dollar strength has been present across the board for a while now, but has gotten over extended.
EUR/USD -- with a majority of traders now positioned short, expecting parity, I have tossed out the parity expectations and expect the Euro to be supported on any dips. So going forward, my intraday & week plan is to buy EUR/USD dips. This is for the near term, although EU may have bottomed for years to come.. we'll see about that one.
GBP/USD -- I'm still more bearish on. But of course it can piggy back higher on EU buying. Prefer selling rallies. Still some uncertainty here with elections coming in a few months.
EUR/GBP -- One trade that is starting to do well and has some indications of a bottom being put in place is EUR/GBP. My plan is to buy any dips on that pair, and if a dip comes close to the lows, to hold longer term and add to the position as it moves in my favor.
AUD/USD -- Questioning whether a bottom has been put in place. There are certainly some signs that we're at least closer to a bottom here. I'm a bit neutral on this one and am willing to take either side of the trade, but at this point, would probably prefer to buy dips.
NZD/USD -- More neutral here, but sort of expecting price to go lower in short term. More willing to sell rallies in short term.
AUD/NZD -- A very interesting pair that I've been enjoying lately. It keeps going lower and is not being supported @ 1.0285 as much as I have expected. New lows may be coming soon. Still though, I'm willing to play both sides here, and do kind of favor buying the dips because this one can bottom long term shortly. It is at a historically low price, and I expect a big rally to come in the near future.
USD/JPY -- Becoming bearish here. Anything in the 120-122 range is a sell zone IMO. I will be looking for shorting opportunities in coming weeks to hold for a while.
USD/CAD -- Looks toppy and I'm thinking we can have a full on trend reversal on this pair. Looking for selling opportunities.
Dow/S&P/Tech100 --- April is the strongest month of the year for DJIA. We've been ranging for a while now and it's rather concerning on the bull side how the market has failed to rally while European markets & JPN 225 have exploded higher. For the coming weeks, I think there should be some decent buying opportunities -- possibly a retest of the recent low on the dow (17544) , and then some strength for a bit, only to top out in April and have a nice sized correction in coming months....... So, for now I'm neutral and willing to take both sides, but overall, looking for a good short entry this month to hold for a bigger 10%+ trade!
Dax -- This market has rallied huge over the past months. I mean massive. For the next week or couple weeks, I'd expect a retest of highs to come at some point. I'm willing to play both sides of this market intraday.. it's currently my favorite market. It's a bit more intimidating to short this one, but I'd have to think we're topping out in April or possibly already topped out for the next 6 month+.
JPN 225 -- Monstrous rally here as well. 20,000 is within reach during April. Looking for buying opportunities and a test of 20,000, but here too, a bigger 10%+ correction, probably starting in April, is looming as well.
Crude Oil -- Have been bearish here for a very long time. But it seems crude wants to play the range now until breaking out past 54. I'm willing to play both sides on this market, will certainly sell any big rally intraday, but I'm starting to lean more towards buying big dips in the near term.
Gold -- Possibly has bottomed out long term. I have been saying -1000 would come.. I'm not so sure about that anymore. Starting to look a bit better, and I'd be interested in buying any nice size dip toward the 1150-1165 region, if it comes. 1180 is an extreme pivotal point, and we're once again above that level, as long as that remains the case, I will certainly be willing to take buy signals.
EURGBP monthly chart- showing a very likely bottom.
EUR/USD sentiment -- You can join the crowd, I'll remain an individual
- #25
- Edited 12:22pm Aug 4, 2015 11:43am | Edited 12:22pm
- | Commercial User | Joined Oct 2012 | 3,968 Posts
- #26
- Last Post: Aug 4, 2015 11:50pm Aug 4, 2015 11:50pm
- | Commercial User | Joined Oct 2012 | 3,968 Posts
