The first week of 2017 finished. And now I am checking if there is something interesting for the next week. As always, the weekly sets my bias. I need a weekly close to define my bias.
Please keep in mind that I share here only my view of what I see. This is merely a journal for my own purpose. There is no guarantee for success. I am documenting of what I see and what I am paying attention to, to make my trading life easier. Everybody is welcome to join me on my journey and post comments. I am happy to answer your questions.
EUR vs USD
Bullish bias for the week.
This is the weekly timeframe of EUR vs USD. The rate hike did push price lower. This is rather bullish for USD, however price was not able to push far below. While I maintain a strong outlook for USD, I see the chance of an upward move. We have a Hammer and a close above 1,05. My bias is bullish for the next week.
EUR vs CAD
Bearish bias for the week.
This is the weekly timeframe of EUR vs CAD. Price did move back up to former support to bounce off this level (now resistance). We have an ideal Evening Star Pattern. This is a three candle reversal pattern. This pattern and the close below 1,40 puts my bias in favour of the bears.
CAD vs JPY
Mixed signal.
This is the weekly timeframe of CAD vs JPY. This asset is mentioned here because price is at an interesting level and also approaching the 90 level which is another restistance level. There is no setup as of yet, but it is worth to keep an eye on CAD vs JPY.
GBP vs CAD
Bearish bias for the week.
This is the weekly timeframe of GBP vs CAD. We have a strong break out off the small range and a strong close below 1,65. This puts my bias in favour of the bears.
AUD vs NZD
Mixed signal.
This is AUD vs NZD weekly timeframe. We have a bullish reversal pattern. This basically puts my bias in favour of the bulls. However, the recent weeks have been very choppy making me doubt this formation. The recent market structure suggests to keep your fingers off this asset. I like the fact that price is close to support. This is an asset worth to keep an eye on.
EUR vs NZD
Mixed signal.
This is the weekly timeframe of EUR vs NZD. Basically I am bullish above 1,50. However, price is at resistance (red line). This level has acted as support and now is resitance. As long price is not able to close above the red line I am rather bearish than bullish.
NZD vs CAD
Bearish bias for the week.
This is NZD vs CAD weekly timeframe. Price continues its move south off the ATHs. We have a break of the last higher low followed by a test. This puts my bias in favour of the bears.
DAX30 / GER30
Bearish bias for the week.
This is the weekly timeframe of DAX30 / GER30. Price formed a nothern Doji. This is a sign of weakness.
SPX500
Mixed signal.
Price did close nice above 2.250 which is bullish. However, price was not able to move above the previous highs, which gives this move a weak outlook. I am not conviced of the bullish move, hence the mixed signal. We may see a test of former ATHs (yellow zone) in the near future.
AUD vs JPY
Mixed bias.
This is AUD vs JPY weekly timeframe. I am bullish above 85. However, price is still in the vicinity of resistance. If we get a violation of resistance, the next level price might want to hit is the 90 level. But time will tell.
USD vs CHF
Bearish bias for the week.
Ths is the weekly chart of USD vs CHF. Price shows signs of strong resistance at current levels. We are at a possible tripple top.
AUD vs USD
Bullish bias for the week.
This is the weekly chart of AUD vs USD. Price formed a three candle reversal pattern at support. We have a Morning Star at a former low. This puts my bias in favour of the bulls.
EUR vs AUD
Bearish bias for the week.
This is the weekly timeframe of EUR vs AUD. Price formed a Bearish Engulfing Pattern at resistance. This puts my bias in favour of the bears.
NZD vs USD
Bearish bias for the week.
This is the weekly chart of NZD vs USD. Price did break support. Last week candle did test support and so far it holds as resistance. Below the 0,70 level I am bearish.
GBP vs AUD
Bearish bias for the week.
This is the weekly chart of GBP vs AUD. Price formed a Bearish Engulfing Pattern and closed below 1,70. This sets my bias as bearish.
NGAS
Bearish bias for the week.
This is the weekly chart of NGAS. Price did touch the supply zone and bounced off strongly. We have an Evening Star formation and a close below 3,50. This puts my bias in favour of the bears. However, we need to consider that price is just at the former high which should act as support.
Happy trading,
TT
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