CHN50 Selling Continues After a Pullback

Chinese index A50 is strongly bearish. We could see multiple rejections after some pullbacks and the price is at the important support.

If we see a pullback towards POC1 or POC2 , new wave of sellers will probably start a fresh wave of selling. The first POC 15170-15215 has a confluence with 50.0 fib while the POC2 15310-15350 makes a confluence with the 88.6 Fib. Additionally, there is also an inner trend line whichs adds for a confluence and a retest of the POC2 offers a very good R:R for swing traders too. Targets are 15008 and 14970.

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GBP/USD New Lows are Smiling to Sellers

There are 2 POC zones where we could see new wave of selling. The first POC 1.2760-90 is additionally supported by the order block (red line). In the case of a deeper retracement up watch for 1.2820-60. Reversal patterns in the zone could also show sellers and we should see a further drop towards 1.2780, 1.2685 and 1.2650. Below 1.2650, 1.2579 is the target. Selling the rallies continues.

DAX Extremely Bearish Price Targeting New Lows

DAX is extremely bearish. Yesterday free fall in Equities might be the start of a reversal in stocks and we should see the bearish continuation.

There are 2 POC zones where we could expect a rejection from. The first POC zone 12727-800 is close, but we can see a bearish order block adding to the confluence of 23.6, W L5 and D L3. A deeper retracement should lead to 78.6/88.6 zone 13143-13228 and heavy selling should occur there within the POC zone. Targets are 12466, 12312 and 12054. The market is trending now so bearish continuation is expected.

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EUR/USD 88.6 Zone Shows Resistance

The EUR/USD has completed a retracement to 88.6 fib. We could see a move down straight from the 1.1850-65 zone.

EUR/USD chart

The market is trying to break the zone to the upside after a V shaped reversal pattern. However there is the battle raging between bears and bulls and EUR/USD is within the bearish zone now. The POC zone could start a move down towards 1.1827, 1.1815 and 1.1795. Only if the market makes a move above 1.1900 we could see the invalidation of this bearish scenario.

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OIL Bulls Aiming For W H5 Camarilla Pivot

Oil made a retracement and the price bounced again. There are two POC zones where we might expect a bullish bounce.

38.28-38.69 is the first POC zone. There is a confluence of 61.8, W H3 and bullish order block. If the retracement is deeper than watch for 37.47-37.81. 88.6 is one of the best levels to make a new entryand we should see a fresh bounce. The first target is 38.58 followed by 39.26, 39.81 and 40.89. The final target is the W H5 camarilla 41.13.

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S&P500 Bulls are Pushing Higher as Break or Bounce is Expected

SP500 is bullish and we should see the move straight from the POC zone on a pullback. Or a breakout above 3422.

The SP500 is very bullish and I expect continuation. If the market makes a retracement, watch 78.6/88.6 zone and a possible bounce up. 3367-3378 is the zone. Above 3422 breakout is expected towards 3447. In Addition to bullish pressure we can also spot the order block which adds to the overall bullish confluence.

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GBP/USD Confluence Spots Show Possible Bearish Price Action

The GBP/USD is getting close to the first POC zone. We have two possible spots where the price could reject from.

1.2896-1.2930 is the zone to watch for. The first POC zone is showing confluence with D H4, W H3 camarilla pivots and order block. If we see the close above W H3 1.2930 then look for a possible POC2 entry in the zone 1.2974 – 1.3001. Targets are 1.2800 and if the price goes below it – 1.2800 and 1.2761. The Daily L5 is the final target 1.2700 which could be reached only on a strong momentum caused by Brexit news.

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DAX W Pattern Bullish Break

DAX is bullish. The price made the break above W bullish point 2 and it is hanging above W H3.

If the market retraces back to D L3 POC zone 13098-13110 we could see another bullish bounce. However, the market could be pushing up around 13200 again due to strong bullish momentum. Targets are 13418, 13515 and 13637. Only below 12730 bears could take the lead.

The Analysis has been done with the CAMMACD.Core

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GOLD Supported at the Deep Retracement Fib

Gold has been retracing but the price came close to 88.6 fib and bounced back. We might see uptrend continuation.

88.6 is IMO the strongest fibonacci level. We could see another boune if the price gets there. However a close above 1936 on H1 chart will imply price to go further up. In addition, we can also see the confluence of D L4 and W L3. The first target is 1950 followed by 1965. As long as 1900 holds we won’t see sellers taking over. Buying the dip continues.

The Analysis has been done with the CAMMACD.Core

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GBP/CAD Might Bounce off W L4 Due to Over-Sold Condition

The GBP/CAD is supported within the POC zone. The price is showing oversold conditions and we might see the bounce.

The pair needs to stay above 1.7200 for buyers to take over. Both GBP and CAD are weak, so the question now is which one is stronger. We could see a move up to the trend line 1.7330 and from there a drop lower. Have in mind that the price is effectively in downtrend so the upmove is actually a counter trend move (retracement). Due to over-sold conditions we should see a bounce up as we also have a confluence of D L3 and W L4.

The Analysis has been done with the CAMMACD.Core

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EUR/JPY Price is Getting into the Buying Zone

The EUR/JPY is getting close to the POC zone. The zone is making a confluence of pivot points and 88.6 fib retracement. We could see a bounce.

125.30-40 zone is a possible bouncing spot for the EUR/JPY. We can also see the Bollinger Bands support close to the zone. If we see that W L3 holds than bulls might have a fresh wave up. Targets are 125.65, 126.07 and 126.62. However, a break below 124.83 might lead the price to 124.25, W L4 support.

The Analysis has been done with the CAMMACD.Core

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EUR/USD Buying Continues After a Pullback

The EUR/USD is having a pullback. The price might drop lower to the POC zone and from there we should see fresh buyers.

1.1789-1.1814 is the POC zone and we should be seeing buying off the zone. The first target is 1.1880 and the break above should be targeting 1.1940, 1.1979 with 1.2020. However due to ADP and NFP this week, we might see some surprises, which need be taken in consideration after the data has been released. However if the price drops later today into the POC zone, I am going to buy the EUR/USD.

The Analysis has been done with the CAMMACD.Core

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BTC/USD Bullish SHS Variant on Intraday Chart

The BTCUSD bulls are strong. At this point any pullback towards the POC might be used for buying.

POC zone 11500-600 is where we can see new buyers. Bullish SHS variant pattern has been completed and at the bottom of the right shoulder price is going up. Targets are 11750, 11830 and 12000 zone. The final weekly projection is 12180. If the price closes above it on a weekly basis then the door towards 12500 and 13000 will be open.

The Analysis has been done with the CAMMACD.Core

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DAX Is Aiming for 13200 Zone and Above

DAX bulls are trying to push the price up within 12970-13000 zone. We can also see that the price is oversold there make it very tempting for buyers.

D L3 and Trend line make up for the confluence along with the ATR pivot. If the price makes a breakthrough above, we should see 13128 and 13162. A close above that level will provide a continuation towards 13205 and 13273. However, if we see a move below 12939, then the price is turning bearish and 12828 could be next.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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GOLD Price Might be Dropping from the Megaphone Top

Gold is currently in an intraweek downtrend. We still might expect selling the rallies and bearish continuation moves.

On the H1 chart, we can spot huge bearish Head and Shoulders pattern which is looming above the price. 1966-70 zone is the POC where sellers should appear. If we don’t see a retracement towards the POC zone, watch for a continuation below D L4 camarilla – 1925. Targets are 1919 followed by 1908 and 1900. Only a move above 1982 will temporary negate the bearish scenario.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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GBP/JPY Price Might be Dropping from the Megaphone Top

The GBP/JPY is exactly at the POC zone which is very close to the top of the megaphone pattern.

The price could be dropping from the 139.70-80 zone straight down towards the D L3/W H4 zone. We should see a nice slide lower if the pattern is respected. 138.99 is the first target and a strong 4h or daily close below should imply a continuation towards 138.23 and 137.57. However, if the price breaks above 140.20, the pattern will become even more over-extended to the upside which is not a good sign for bears.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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EUR/USD Bears are Still in Control

The EUR/USD has formed two bearish structures. Back-to-back SHS patterns which might give us entries based on the breakout and POC zone.

Small SHS pattern might provide a breakout entry if the pair goes below 1.1785. In that case we could see a move down to 1.1768, 1.1750 and 1.1720 which is slightly below the projected low at 1.1733. A bounce up might hit the POC zone 1.1850-70 and the market might start turning down from that point due to huge SHS pattern and the the top of the right shoulder. Higher TF Bollinger Band also add to the confluence.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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GBP/USD Bounce or Break off the POC zone

The GBP/USD is showing a bearish M pattern. The price is at support so we might have a possible move down as a breakout or a bounce up.

The POC zone marks the potential reaction of the price. Zonal support 1.3060-80 is where the price might act. H1 close below and next levels to watch are 1.3035 and 1.2981. If the price makes a bounce then watch for 1.3146. Only a close above 1.3146 could make the price bounce further to 1.3203. Watch for the POC zone and reaction there.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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Oil Uptrend Should Continue Towards 44.35

Oil is pushing up strongly as new swings form. We have a zig zag to the upside, and fresh buyers might come soon.

41.40-41.73 is the POC. X Cross clearly marks the ATR projection low. With the confluence of X cross, W H3, ATR low, I assume this is where buyers are. Targets for the move are 42.27 followed by 42.85 and 43.45. Above 43.45 we should see 44.35, the final daily and weekly target. Oil is bullish and buying the dips continues.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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GBP/JPY 138.75-85 Zone is the Decision Point

The GBP/JPY is showing a potential for either (a)continuation or (b)rejection. It will depend on the POC zone and the reaction there.

The price might get rejected off the POC zone towards 137.85, 137.56 and 137.05. However, for that to happen we should see a bearish reversal candlestick pattern. However, if the price manages to close with a bullish continuation pattern above the 138.85 then continuation is possible towards the W H3 camarilla pivot 139.66.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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