June 2, 2020

Market Update – June 2

GBPUSD has broken out and near term focus is on the median ine near 1.2800 with significant longer term upside potential. Support should now be 1.2420s or so, which is the top side of the line crosses recent highs.
May 29, 2020

Market Update – May 29

Be aware of 3136 in SPX as a possible pivot. The level is defined by the 78.6% retrace of the decline,March high, and the line that crosses highs in 2018 and 2019. This line was support in December. Price has responded to Fibonacci retracements (23.6%, 38.2%, and 61.8%) during the advance which increases confidence that ‘something’ happens at the next Fibonacci retracement.
May 28, 2020

Sterling Traders Brace for Volatile Month Ahead

The British Pound weakened against its major rivals on Wednesday amid reports that Brexit talks are stalling and as the specter of a 'no-deal' Brexit reared its head again.
May 28, 2020

GBPUSD Entry Techniques Explained in Real Time

Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
May 28, 2020

Market Update – May 28

GBPUSD erased most of yesterday’s rally but I remain constructive. In fact, price found support near the short term trendline that originates at the 5/18 low. I want to see strength above 1.2300 (blue line) before committing capital to the upside again though. In general, this level has been support and resistance for a little over a month.
May 27, 2020

Market Update – May 27

USDOLLAR found resistance at the cited level (recovery high was 12536) and broke down today. Individual USD crosses nailed their supports as well (see levels noted below from last week). My wave count interpretation is that weakness from the 5/18 high is either a 3rd or C wave so downside potential is significant in the coming weeks and months.
May 20, 2020

Major GBPUSD Bullish Setup!

Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
May 20, 2020

Market Update – May 20

Resistance came in slightly higher than thought for GBPUSD but the idea remains the same. Proposed support for long entry is 1.2160/90s. The bottom of the zone is the 61.8% retrace of this week’s rally and 4/6 low. The top of the zone is VWAP from this week’s low (see hourly futures chart 2 charts down). Additional bullish evidence includes a daily volume reversal yesterday (see daily futures chart below). The last daily volume reversal was in January 2017, which was an important low. Also, don’t forget seasonal tendencies are now bullish. Elliott structure suggests that the rally from this week’s low is either a C wave or 3rd wave, so upside potential is significant.
May 18, 2020

Market Update – May 18

The downside remains favored in AUDUSD towards the .6250s. The former 4th wave low is .6254 and VWAP from the March low is currently .6249. This is also the lower parallel of the bearish fork from the high. If AUDUSD is bearish then resistance should be about .6460, which is the underside of the line off of the 4/21 and 5/6 lows and VWAP from the April high. Seasonal tendencies are bearish for the next few weeks (see below).