Emini S&P barely moving in overbought conditions - but we edged higher 2718, which was not part of the plan & stopped us out of shorts. However I do still think risks are to the downside.
AUDUSD sideways so far this week. We bottomed 6 pips below good support at 7755/50 & topped 2 pips above first resistance at 7790/95.
Scalping these 2 levels worked while we wait for the swing trade opportunity.
NZDUSD we suggested shorts on a any strength at the start of the week & the pair are lower as expected after we held 7380/7410. A low for the day just 2 pips from the next target of 7300/7295.
USDJPY I warned last week was now stuck in a new range & unfortunately I was right - we are holding 106.60-107.77.
EURJPY also in a range from first support at 132.20/10 to strong resistance at 133.00/10 but trading in between these levels has offered decent profits.
EURUSD sideways & yesterday's inside day means same levels apply for today. A dreadful market to try to make any money. Eventually we will get a breakout & hopefully some direction.
USDCAD managed a bounce from 1.2530/25 & unexpectedly beat 1.2625/35, but meets strong resistance at 1.2265/75. Try shorts with stops above 1.2720.
Gold jumping around but with no medium term direction. We see a good move in 1 direction for 2-3 days, which then reverses in a sideways trend. Same levels apply for today.
A big commodity rally yesterday across the board.
PROBABLY A REASON WHY 10 YEAR T NOTE IS NOW LOOKING READY TO BREAK THE 34 YEAR TREND LINE TO START THE BEAR MARKET!!!!
Silver we wrote: holding above 1660 is more positive, but we obviously must beat the March/April high of 1686/87 for bullish confirmation.
Once through here we shot higher to targets 1702/05, 1710/13, 1720 & 1725. Probably the best trade of the week but had to be patient. A potential 60 ticks on our longs from 1660/65.
Be aware that a weekly close above 1750 tomorrow night is a huge buy signal - do not miss this move. It could be the start of a significant longer term bull trend for silver.
WTI Crude we wrote: we shot back above 6640/30. Holding above here today targets minor resistance at 6690/95 but above 6715/20 could allow a retest of 8 month trend line & last week's high at 6765/76. This is the main challenge for bulls today of course. A break above 6800 however targets 6835/40, perhaps as far as 6875/80. On further gains look for 6910 & 6950/55.
We beat 6800 reaching 6875/80
Analysis by: Jason Sen - Day Trade Ideas
AUDUSD sideways so far this week. We bottomed 6 pips below good support at 7755/50 & topped 2 pips above first resistance at 7790/95.
Scalping these 2 levels worked while we wait for the swing trade opportunity.
NZDUSD we suggested shorts on a any strength at the start of the week & the pair are lower as expected after we held 7380/7410. A low for the day just 2 pips from the next target of 7300/7295.
USDJPY I warned last week was now stuck in a new range & unfortunately I was right - we are holding 106.60-107.77.
EURJPY also in a range from first support at 132.20/10 to strong resistance at 133.00/10 but trading in between these levels has offered decent profits.
EURUSD sideways & yesterday's inside day means same levels apply for today. A dreadful market to try to make any money. Eventually we will get a breakout & hopefully some direction.
USDCAD managed a bounce from 1.2530/25 & unexpectedly beat 1.2625/35, but meets strong resistance at 1.2265/75. Try shorts with stops above 1.2720.
Gold jumping around but with no medium term direction. We see a good move in 1 direction for 2-3 days, which then reverses in a sideways trend. Same levels apply for today.
A big commodity rally yesterday across the board.
PROBABLY A REASON WHY 10 YEAR T NOTE IS NOW LOOKING READY TO BREAK THE 34 YEAR TREND LINE TO START THE BEAR MARKET!!!!
Silver we wrote: holding above 1660 is more positive, but we obviously must beat the March/April high of 1686/87 for bullish confirmation.
Once through here we shot higher to targets 1702/05, 1710/13, 1720 & 1725. Probably the best trade of the week but had to be patient. A potential 60 ticks on our longs from 1660/65.
Be aware that a weekly close above 1750 tomorrow night is a huge buy signal - do not miss this move. It could be the start of a significant longer term bull trend for silver.
WTI Crude we wrote: we shot back above 6640/30. Holding above here today targets minor resistance at 6690/95 but above 6715/20 could allow a retest of 8 month trend line & last week's high at 6765/76. This is the main challenge for bulls today of course. A break above 6800 however targets 6835/40, perhaps as far as 6875/80. On further gains look for 6910 & 6950/55.
We beat 6800 reaching 6875/80
Analysis by: Jason Sen - Day Trade Ideas
