Education
July 16, 2020
The ‘about face’ in USD action today strongly suggests that we’re on the right track insofar as being near term USD bulls. Regarding EURUSD specifically, the 5 wave rally from the 4/24 low is ‘textbook’ so expectations are for at least a corrective pullback. The year open at 1.1260 along with parallels just below are likely initial support for a bounce.
July 16, 2020
Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
July 16, 2020
EURUSD traded 1.1452 today before reversing and closing near the low of the day. The high is right on the upper parallel of the channel from the March low. The line off of the September 2018 and March highs also reinforces the area as resistance. I’m of the mind that today was a high and now wish to trade from the short side. ECB is tomorrow. I’ll wait until that’s out of the way before determining entry.
July 15, 2020
British Pound futures pulled back to VWAPs off of the June high and low. The level is also the 200 period average on the 4 hour chart (spot is below) and more or less the breakout level from the short term head and shoulders bottom. I like GBPUSD higher as long as price is above today’s low. Near term support and resistance levels are 1.2510 and 1.2618.
July 14, 2020
Gold hovered around the key psychological level of 1,800 in early trading on Tuesday as global coronavirus cases continue to soar and Sino-US disharmony escalated over China's pursuit of offshore resources in the South China Sea.
July 14, 2020
Copper nearly took out the 2019 high today before reversing lower. The reversal also occurred after price spiked above the trendline from 2011. High today is also on the upper parallel of the channel from the March low. The reaction from massive overhead resistance strongly suggests that a high of importance is in place. Pay attention to the parallels within the channel from the March low (see below). The center line is near 2.84 and the lower parallel is near 2.71.
July 11, 2020
Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
July 10, 2020
The US dollar and other safe haven assets were supported in early trading on Friday amid concerns over the spread of the conoravirus pandemic and a slower than expected economic recovery.
July 10, 2020
No change to the 7/7 comments and ‘view’ of reversal risk in the Nasdaq. I’m simply pointing out that NQ made another 8 hour volume reversal today.