WTI Crude Chart plus market reviews & Buy/Sell Suggestions on EURUSD, USDCAD, NZDUSD, AUDUSD, USDJPY, Gold & Silver & more.

 

Technical Analyst Jason Sen

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WTI Crude we wrote: Failure to beat 6370/80 targets minor support at 6310/00.

We topped & bottomed exactly at these levels. However we then returned to our selling opportunity at 6370/80 with stops above 6400…my stop was 10 ticks too tight, as we topped at 6412 before turning lower..I only hope you gave it enough room to hold the shorts for the collapse to 6290.
WTI Crude outlook remains negative after we spotted the turning point last week & have been trading shorts on bounces ever since.

AUDUSD only trading sideways for 7 days as we dip back below resistance at 7705/10.

NZDUSD beat 5 week trend line resistance at 7280/85 for a buy signal but we topped 3 pips from the first target of 7325/30.
All we have done is set a new range in the sideways trend.
Most FX pairs are trading in extended sideways patterns which is only good for very short term scalpers.
EURUSD topped exactly at first resistance at 1.2305/15 & hit 1.2242/37 for profit taking on shorts then strong support at 1.2225/15 for our buying opportunity. This trade worked perfectly as we bottomed exactly here & shot higher to 1.2256 as I write. We look for first resistance at 1.2275/80 & the main challenge for bulls today. Take at least half  the 50 pips profit (we cannot run trades far in this sideways trend), then exit the balance at 1.2310/20 & try shorts at with stops above 1.2340.
USDCAD topped just 3 pips below resistance at 1.2850/55 & the break of important support at 1.2800/1.2790 confirmed further losses targeting 1.2730/20…but we missed it by 10 pips.
Outlook remains negative.
GBPUSD only trading sideways. We topped exactly at first resistance at 1.4090/1.4100 & if you tried shorts, this trade worked with a potential profit of 120 pips. WATCH IMPORTANT SUPPORT AT 1.3940/30
GBPJPY we have been trading longs at 200 day moving average support at 148.60/50 & shorts at 100 DMA resistance at 150.60/70.
It’s been working perfectly. Keep doing it until we breakout & go with the move.
Gold in a 3 month sideways trend. The range is 1310/02 up to 1356/66.
Silver sideways as we top just 2 points from very strong resistance at 1670/80 & sold off to bottom just 2 points above our buying opportunity 1615/10. I hope you jumped in a little early & caught the low.
Obviously same levels apply for today for both Gold & silver.
Emini S&P beat resistance at 2645/47 & made it to within 3 points of the next target of 2675/78. We wrote: We should struggle & a high for the day not out of the question.
It was then that we turned lower after flushing out shorts, targeting 2648/47 & 2638/36 before we bottomed exactly at minor support at 2623/21. We remain in a short term bear trend, confirmed by holding resistance at 2675/78.
Obviously holding positions over the NFP release is a pure gamble & high risk – my technical analysis cannot be relied upon…I have no idea of the outcome.
Buy/sell STOP TARGET 1 TARGET 2 Comment
AUDUSD buy 7640/30 stop 7590 7705, 7745 7780
Reverse in to a short if stopped
silver spot sell 1675/80 1690 Reverse in to a long if stopped
EURUSD buy 1.2225/15 1.2185 THIS IS WORKING
Reverse in to a short if stopped
EURUSD sell 1.2310/20 stop 1.2345
Gold buy 1311/09 stop 1299 1315, 1319 1324, 1328
Reverse in to a short if stopped
NZDUSD buy 7185/80 stop 7105
NZDUSD buy again 7140/30 stop 7105
Reverse in to a short if stopped
USDJPY sell 107.85/90 108.25
USDCAD buy1.2670 1.2625
Reverse in to a short if stopped
USDCAD sell 1.2850/55 stop 1.2890
GBPUSD BUY 1.3940/30 stop 1.3890
Reverse in to a short if stopped

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JASON SEN Began to study technical analysis in 2006 and established Daytradeideas, the leading provider of daily technical analysis to independent & professional traders within the investment bank community for Stock Index, Energy & Fixed Income products, advising dozens of traders at up to 15 major investment banks and hedge funds on market movement, throughout each trading day on The Bloomberg Professional® service with trade ideas – entry, exit and target levels in daily reports published before the Futures markets open in Europe.