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Forex Analysis and News for Major Currency pairs August 29-2

Postby Profiforex_Victory » Mon Aug 29, 2016 6:36 pm

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Here’s the market outlook for this week:

EURUSD

Price Trend: Bullish


The trend for now is an uptrend; but this is not very certain. Prices for the EURUSD had fallen down by 120 pips by the end of last week on Friday. Should prices move below 1.1100 which happens to be a crucial support line, this will result in the formation of a strong Bearish Confirmation Pattern. But then in the case where prices rise above 1.1350 (which is a resistance line), the present uptrend will get stronger.


EURJPY

Price Trend: Neutral

The trend for the EURJPY is neutral. But then on the longer term, the trend may turn to a downtrend. This is really possible considering that there has been sideways movement in the pair in the last past three weeks. But then the trend is bearish on larger time frames. Last week on the Friday there was a bullish breakout, this may bring about a false break in the condition that prices do not maintain their movement north. Thus for the fact that the trend for JPY pairs is still a downtrend, we could have a pullback into the demand zone at 113.00 (though strong selling pressure will be required to break past it).

GBPUSD

Price Trend: Bullish

In the nearest future, the trend is an uptrend but then on a longer term, the trend may turn around to a downtrend. Price had jumped up 200 pips across last week even attempting to break past the distribution territory located at 1.3250. After this, this pair experienced a pullback by the end of the week on Friday. However, on the short-term, the trend still remains an uptrend. This should be so as long as price keep on top of the accumulation territories located at 1.3000 and 1.2950. We expect GBP pairs will experience an increased volatility the following month. This is quite opposite the reduced volatility we saw for the month of August.

USDJPY

Price Trend: Neutral

In the nearest term, the trend is still is neutral. But then across on the longer term, prices could fall down. The USDJPY faced a very tight consolidation between Thursday and Monday last week. But then prices broke upwards by the end of the week which is Friday. Though this will not cancel the neutral trend. The trend should only change from neutral should prices get above 103.00 and 103.50; both of which are important supply levels. Also possible is prices falling below the demand levels located at 101.00 and 100.50 as the trend for a number JPY pairs is bearish for this month.


USDCHF

Price Trend: Bearish

Just in line with what we had hoped for last weekend, the Swiss franc got weaker however briefly. The weakness in the CHF came alongside rising gains in the EURUSD with the EURUSD remarkably rising up by 170 pips last week. The USD only made strong attempts to recover from its losses by Friday. Keeping this in mind, we expect this USDCHF to go up so long the factors remain constant. Thus it is possible to have the formation of a Bullish Confirmation Pattern. If this doesn’t happen, there could be a heavy pullback in the pair.
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Postby Profiforex_Victory » Mon Sep 05, 2016 6:17 pm

Forex Analysis and News for Major Currency pairs August, September Week 1


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Here is the market outlook for this week:

EURUSD
Price Trend: Bearish


Last week the trend for the EURUSD became a downtrend such that the pair closed on Friday at 1.1152. The pair made heavy attempts to rise up towards the end of the week on Thursday as well as on Friday, yet the downtrend was too strong to be reversed. 1.1100 and 1.1050 are notable support lines which could be tested in the next four days. This way the resistance lines located at 1.1300 and 1.1350 would resist any significant rise in prices. Thus the downtrend may continue unless prices break above the resistance line located at 1.1350.


EURJPY

Price Trend: Bullish

Just as we had anticipated, there was an end to the equilibrium phase in this currency
pair which had lasted from 8 to 26 of last month. Price went up by about 290 pips last week. As of now, the EURJPY is making strong attempts to settle above 116.00 where we have a supply zone. It is necessary for prices to remain above 116.00 for the uptrend to be maintained. This is possible across the next four days. For the fact that the yen is not strong, currencies which are making gains (among which is the GBP) could experience more gains against the JPY.



GBPUSD
Price Trend: Bullish

There was a consolidation in prices for the GBPUSD currency pair across Monday and Tuesday last week. After this, there was a strong rise in prices by Thursday. This move up was strong enough to form a BullishConfirmation Pattern on the H4 time frame. It is likely prices would keep rising such that the GBPUSD may reach the distribution territories located at 1.3400 and 1.3450. Across the next three weeks, we may see increased volatility in GBP pairs.

USDJPY

Price Trend: Bullish

Prices for the USDJPY started to rise up as far back August 26. Last week, there was continued increase in prices with the USDJPY rising by 400 pips. The pair made serious attempts to remain above 104.00 which is a crucial supply level but at the end of the week, it had fallen below it. For now the trend is a strong uptrend . With this in mind, we expect prices to keep rising this week.


USDCHF
Price Trend: Bullish

The trend last week turned around to an uptrend. The rise in the prices helped the USDCHF to close above 0.9800 which is an important support level. Fall in prices on Thursday and Friday threatened to reverse the trend to an downtrend but then at the end of the week the trend was still bullish. 0.9850 and 0.9900 are resistance levels which could be eventually tested this week and then it is very possible that the support levels located at 0.9750 and 0.9700 would prevent any significant fall in the USDCHF. Thus we expect the trend to remain an uptrend so long prices don't fall below the support level located at 0.9700.
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Forex Analysis and News for Major Currency pairs Sept. Week

Postby Profiforex_Victory » Mon Sep 12, 2016 5:27 pm

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Here’s the market outlook for this week


EURUSD
Price Trend: Bullish

Last week, prices made an attempt to break above the resistance line located at 1.1300. The trend was still bullish, with the euro getting stronger in face of a weakening US Dollar. Thus this week, it is possible prices could rise up touching the resistance line we have at 1.1300 even as far as approaching 1.1350 which is a crucial resistance line. The increasing strength of the euro so far has prompted many EUR pairs to start going up.


EURJPY
Price Trend: Bullish

For now the trend is an uptrend, but then on a longer term, the trend is a downtrend. Last week prices had attempted falling but price were pulled from the demand zone at 114.00 in the direction of the supply zone located at 115.50. This erased the previous decline of 200 pips which had occurred from Monday to Wednesday. We now expect prices to maintain their push up owing to the chances of the Japanese yen going weaker.

GBPUSD
Price Trend: Bearish

On the long term, the trend for this pair is downwards. The GBPUSD at present is making strong efforts to rise up. Price had gone up last by 140 pips on Monday and Tuesday. After this impressive gain, the pair started falling down from Wednesday. Should prices fall further below the accumulation territory located at 1.3100; it will form a very vibrant Bearish Confirmation Pattern. But then, should prices move on top of the distribution territory at 1.3450, this will change the trend to an uptrend for this week.


USDJPY
Price Trend: Bearish

The USDJPY experienced a notable decline of 260 pips last week; falling for a short period under the demand level located at 101.50. After this the USDJPY recorded an increase of 170-pip. Prices broke above supply level we have at 103.00 in course of increasing prices. In the situation where the USDJPY further maintain this gains, the trend will turn to an uptrend. Should this occur, prices would rise touching the supply levels located 103.50 and 104.00.



USDCHF
Price Trend: Neutral

For now, the trend is not really clear. Yet there is possibility that the USDCHF may experience some directional movement this week. It is even most likely this said movement could be downward. There is the increasing chance that the EURUSD will maintain its rise (as we expect the euro to get stronger this week). Thus an increasing EURUSD could cause the USDCHF to fall down. One other factor which can also bring about a falling dollar is the CHF gaining more strength. As such for this week, we should pay good attention to CHF pairs for hints. Across the next four days, prices should be aiming for the support levels located at 0.9700, 0.9650 and 0.9600.
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Forex Analysis and News for Major Currency pairs Sept, Week

Postby Profiforex_Victory » Mon Sep 19, 2016 4:37 pm

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Here’s the market outlook for this week:

EURUSD

Price Trend: Bearish

There was sideways movement in prices of the EURUSD last week from Monday to Thursday. And by Friday, the currency pair had dropped by 85 pips. If that break down had not happened, then the trend for this week would have been neutral. But for now the trend still remains bearish with the possibility that prices may fall down to touch 1.1100 and even 1.1050 which are crucial support levels for this week. The trend for now which is a downtrend may change should prices move up above 1.1300.


EURJPY
Price Trend: Bearish

 
Prices fell down for the EURJPY on Monday. But the currency pair recovered from its losses the next day such that by Wednesday the pair had hit 116.08. After this prices slipped down by 200 pips by Friday. This decline made the trend a downtrend. There is the possibility that prices for the EURJPY may move towards the demand zones located at 113.50 and 113.00 across the next four days.


GBPUSD
Price Trend: Bearish

Across last week, the GBPUSD had fallen by over 280 pips. Such that the GBPUSD fell below the distribution territory located at 1.3000 by last week ending. Across the next two weeks, the trend is a downtrend. We have now found a bearish confirmation pattern. Because of this, it is possible the GBPUSD may rise up to 1.2950, 1.2900 and 1.2850 (all are accumulation territories) across the next four days. One thing that can change this is major data macroeconomic data turning out other than expected. For now the trend for all the GBP currency pairs (minus the EURGBP) is a downtrend.


USDJPY
Price Trend: Neutral

Between Monday and Friday last week, prices were between the supply level located at 101.50 and the demand level we have at 103.50. This made the trend neutral. Across the next four days, the trend will most likely become a downtrend. The trend will become stronger and clearer when we have rising momentum. There is high chance that the trend for every JPY currency pair will become a downtrend this week - even with the downtrend extending to next week.


USDCHF
Price Trend: Neutral

Despite the fact that prices had went up by last week Friday, this was not enough to really change the trend from being neutral. Prices tried to push above an important resistance level located at 0.9800. Because of this, if the USDCHF can rise as far as 0.9855, the trend will become an uptrend. The uptrend will become very solid if prices can rise as far as 0.9910. This though for now is not very likely. On the other hand, should the USDCHF drop down below the support level we have at 0.9650, the trend will then change from neutral to a downtrend. 
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Forex Analysis and News for Major Currency pairs Sept. Week

Postby Profiforex_Victory » Mon Sep 26, 2016 6:02 pm

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Here’s the market outlook for this week:


EURUSD
Price Trend: Bullish

For this week and possibly next week, the trend is an uptrend. But on the longer term, the trend becomes neutral. Last week even in face of decreasing volatility on larger time-frames, prices remarkably rose above 1.1200 which is a crucial support line. 1.1250 and 1.1300 are next in line for the EURUSD to reach this week. To go past these price levels, there has to be aggressive buying of the currency pair by traders. This week the currency pair will actually find it difficult to fall below 1.1150 and 1.1100. 


EURJPY
Price Trend: Bearish

There was a notable drop in the EURJPY last week as the currency pair dropped down under the demand zone located at 112.50 followed by prices pushing up. Yet the push up in prices was not convincing enough to buy the EURJPY. There is high chance prices could test the demand zones we have at 113.00, 112.50 and 112.00 across the next four days even the following week. The sole condition for the trend to change is prices rising up significantly by over 299 pips. 

GBPUSD
Price Trend: Bearish

For now the major trend is a downtrend just as we had pointed out last week. The GBPUSD had dropped last week despite all attempts for the currency pair to rise up. For now it is not really advisable to open long trades owing to the present price action. It is not really safe to buy the pair for now owing to the fact that the trend for GBP pairs is still a downtrend. By the end of this week, we expect the pair to approach the territories located at 0.2900, 0.2850 and 0.2800.


USDJPY
Price Trend: Bearish

At the beginning of last week, there was consolidation of this currency pair, but then by mid week, the pair went down and then attempted to rise by Friday. If we look at the H4 and our D1 charts, what we see is a bearish confirmation pattern. This suggests that across the next four days, prices may even fall down further; even getting to the demand levels located at 100.50 and 100.00. The trend will change from being a downtrend when prices go above 104.00 which is a very significant support level. Although we don't really expect that to happen any time soon.


USDCHF
Price Trend: Bearish

On the short term, the trend for the USDCHF is a downtrend but on the longer term, the trend becomes neutral. Last week, prices dropped down falling below 0.9750 which is an important resistance level, approaching the support level located at 0.9700. Across the next four days, prices may fall down to touch 0.9650 even down as far as 0.9600- these are critical support levels. Traders will have to sell the USDCHF greatly for that to happen. Should the currency pair make an attempt this week to rise up, it will struggle to move above the resistance levels we have at 0.9750 and 0.9700.
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Forex Analysis and News for Major Currency pairs October, We

Postby Profiforex_Victory » Tue Oct 04, 2016 9:13 am

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Here’s the market outlook for this week:

EURUSD
Price Trend: Neutral

Nothing really big and notable occurred last week - the only thing worth noting is a brief movement of the EURUSD  above 1.1250 which is a crucial resistance line and then fell under the support line we have at 1.1150. Across this week and even the next week, the trend is neutral. The trend will remain like this unless EURUSD prices go out of balance. If at all this happens, it certainly will not be next week. The trend for the month for a majority of EUR pairs is a downtrend, Thus it is very possible for the EURUSD to fall.

USDJPY
Price Trend: Neutral

Throughout last month, USDJPY has been majorly moving sideways. Should this continue, the long term trend would turn neutral. Still the chances are high that a trend could form for the USDJPY by Friday. This can turn out to be either an uptrend or a downtrend on the H4 chart.


GBPUSD
Price Trend: Bearish

Both the short term and even long term trend for the GBPUSD are downtrends. Last week, there has been sideways movement in the GBPUSD even with the Bearish Confirmation Patterns we had on the H4 as well as the D1 charts. For this week, the GBPUSD could decline; this could cause the currency pair to fall towards 1.2900, 1.2850 even down to 1.2800; all which are accumulation territories. Should there be a rise in GBPUSD, it is only a fake signal of an uptrend, thus it is a better time to sell. The accumulation territory located at 1.2950 at present has been great at keeping the GBPUSD from falling further although it will not hold the GBPUSD from falling much longer. The trend for the month is majorly a downtrend for the GBP, in fact the trend is also a downtrend for majority of GBP pairs.


USDCHF
Price Trend: Bearish

For now the trend, the trend is a downtrend; but may turn neutral on a longer term. Last week, the USDCHF made an attempt to rise but this was not really successful. Despite the fact that on the short term, the trend is a downtrend, the USDCHF could move above the resistance level located at 0.9750 only to fall to the support level located at 0.9650. On a positive note though, there could be an increase in momentum across the next four days.


EURJPY
Price Trend: Neutral

Just like we had for the USDJPY, last week the EURJPY have been moving sideways between the supply zone we have at 114.00 and the demand zone located at 112.50. Across the next four days, we could see an increase in momentum which could pull the EURJPY out of that range; even leading to either a downtrend or an uptrend in the short term.  
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Postby Profiforex_Victory » Mon Oct 10, 2016 6:52 pm

Forex Analysis and News for Major Currency pairs October, Week 2

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Here’s the market outlook for this week:

EURUSD
Price Trend: Neutral

For now the trend is still neutral (even in face of other pairs being very volatile last week). The EURUSD dropped down falling under the support level located at 1.1150. After that it rose up approaching the resistance level located at 1.1200. It is thus possible for the trend to continue being neutral next week. But then, we are expecting very good momentum in the near term.

For the trend to change from being neutral, it is very necessary for the EURUSD to break above 1.1350 which is a crucial resistance level. If this happens, the trend becomes an uptrend. On the other hand, the trend becomes a downtrend when prices fall below the support level located at 1.1050. For the next four days however, it is most likely that the trend for the EURUSD and even other EUR pairs would become a downtrend. 


USDJPY
Price Trend: Bullish

Just like we predicted, prices had gone upwards last week rising by 280 pips. This puts an end to the previous equilibrium phase; as well as even testing the supply level which we have at 104.00. After this the USDJPY went down by 100 pips. The USDJPY finished last week dropping below 103.00 which is a significant supply level. This could be a nice avenue to buy the USDJPY in the hope that the currency pair could rise further. The trend for the USDJPY however still remains an uptrend. It is therefore reasonable that the USDJPY can rise by another 150 pips across the next four days. 


GBPUSD
Price Trend: Bearish

For this week, there exists a very strong Bearish Confirmation Pattern for the GBPUSD - this also exists equally for other GBP pairs. Just according to our forecast last week, prices had fallen; falling drastically by over 890 pips even crashing down to a low of over 30 years in the region of 1.1993. It subsequently went on to pull back up to 1.2425, gaining back over 400 pips. As to the future of the GBPUSD, it is possible prices will further rise up. But if this happens, it will not even change the long term trend from being bearish.


USDCHF
Price Trend: Bullish

The trend on the longer term is neutral. But if we look at the shorter term, we see that the trend is an uptrend. Early last week, the USDCHF sprang up only to crash down by Wednesday, followed by attempts to go up on Thursday but still fell down again by Friday. Despite the sound chances that the USDCHF may rise up again, it is really unlikely that prices may rise as far as 0.9900.


EURJPY
Price Trend: Bullish

In similarity to the USDJPY last week, the currency pair went up; such that it tested the supply zone located at 116.00. After this, it fell by 90 pips. For now, there is a Bullish Confirmation Pattern in the market. In face of this, we may see more gains from the currency pair across the next four days.

Considering this, the EURJPY may rise up to 116.50 or even 115.50; all which are important supply zones.  
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Postby Profiforex_Victory » Mon Oct 24, 2016 1:41 pm

Forex Analysis and News for Major Currency pairs October, Week 4

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Here is the market outlook for this week:

EURUSD

Price Trend: Bearish

The EURUSD suffered a fall of 100 pips last week. This decline amounts to a fall of more than 300 pips counting from October 10. This resulted in a Bearish Confirmation Pattern. Across the next four days, the trend for most EUR pairs is a downtrend. With this in mind, this week we could be seeing a gradual decline in the EURUSD. The pair could fall down as much to touch 1.0850 and 1.0800; both of which are support levels. However, should prices go up for the EURUSD, it is simply a better chance to sell.


USDJPY
Price Trend: Bullish

Last week, there was sideways movement in the USDJPY. But across the next four days, we expect the pair to rise. This is because this week, the trend for most JPY pairs is an uptrend; thus it becomes very possible for the pair to rise up touching 104.50, 105.00 and even 105.50. This could result in a strong Bullish Confirmation Pattern on the H4 chart. On the other hand, the supply levels located at 103.00 and 102.50 will contribute greatly in preventing any major decline in the USDJPY.


GBPUSD

Price Trend: Bearish

There were small gains in the GBPUSD early last week. But by Friday, there was more of sideways movement in the pair. According to what we had predicted, there is high chance of increased volatility on GBP pairs than we had last week. This we expect would put a stop to the consolidation we are having now with increasing momentum. Across the next four days, we expect most GBP pairs to make gains but these gains may not be enough to change the trend from a downtrend.


EURJPY
Price Trend: Bearish

Following the 170 pips decline in the EURJPY last week, the trend became a downtrend. One big reason why the trend is a downtrend for now is the euro losing strength. The EURJPY would only increase if the Japanese yen loses further strength.


USDCHF

Price Trend: Bullish

Last week, a very significant siege was seen at 0.9900.This very point (0.9900) was previously a resistance level which has turned a support level of late. We had suspected correctly that breaking that level was not going to come easily, but then by October 20, we saw the USDCHF break above it owing to how strong the US dollar was. The pair managed to close last week Friday above the support level now located at 0.9900. This was after the USDCHF had tried to push above the resistance levels we have at 0.9950. Across the next four days, we expect further upward movement from the pair. This is more likely in face of the growing weakness of the CHF and a strengthening US dollar. There is also a high possibility that other currencies will push up against the CHF but for the USDCHF, we don't really expect much upward movement this week.
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Postby Profiforex_Victory » Mon Oct 31, 2016 6:04 pm

Forex Analysis and News for Major Currency pairs November, Week 1


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Here’s the market outlook for this week:

EURUSD

Price Trend: Bearish


Last week, there was sideways movement in the EURUSD. But by the end of the week, it managed to trade upward. The move was not significant as it was not heavy enough to trigger an uptrend. Thus even by last week Friday, the trend was still a downtrend with this trend extending to this week. In fact the trend is a downtrend for most EUR pairs. It is thus possible that this currency pair may drop down to 1.0900, 1.0850 even falling as far down as 1.0800 (all these points being support levels) across the next four days.


EURJPY
Price Trend: Bullish

Even in face of the euro losing strength, the EURJPY managed to climb up by over 225 pips. Prices for this pair closed last week at 115.11. This comes following the formation of a strong Bullish Confirmation on the H4 chart. The charts indicate that prices were more likely to push up. Thus across the next four days, it is possible prices may reach the supply zones located at 115.50, 116.00 and 116.50.


GBPUSD
Price Trend: Bearish

For the last two weeks, we have been seeing sideways movement in the cable. This has resulted in the short term trend being neutral. But then across the next four days, the trend is a downtrend, thus we are not expecting this pair to noticeably push up. Across the upcoming month of November, we expect big movements in GBP pairs, but these movements look to be more on a downtrend.


USDJPY
Price Trend: Bullish

Just in line with our previous forecast, the USDJPY has been enjoying an uptrend. For last week, prices have climbed up by over 160 pips even attempting to push above the supply levels located at 105.50. On October 28, prices went down but at the end, it was a chance to open long positions at lower prices. For this week, we still the USDJPY to continue in its uptrend.


USDCHF
Price Trend: Bullish

The USDCHF made strong attempts to push above the resistance line located at 0.9900; but this didn't last long as prices were eventually pushed down. For almost two weeks now, the USDCHF has been consolidating. Yet this doesn't change the trend from being an uptrend. So far across October, the USD has been bullish. It becomes more likely that the most of the USD's rivals will fall down. There is also the possibility of the USDCHF rising up to 1.0000 (a very notable resistance level). For this to happen, the USDCHF needs to experience intense pressure from heavy buying.
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Postby Profiforex_Victory » Mon Nov 07, 2016 1:18 pm

CFD outlook for November

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Here is the market outlook for this month:

FRA40
Price Trend: Bullish

The condition for the FRA40 is not too different from what we have for the GER30. The trend on the daily chart is a downtrend, although there is correction on the 4-hour chart as well as on other smaller timeframes. We expect the trend to remain bullish (even in face of transitory pullbacks). This could however change if prices break past the demand zone located at 4350.0.


SPX500
Price Trend: Bearish

Even in face of the consolidation we have been seeing in the SPX500 for over a month now; there isn’t yet any significant rise in the SPX500 for almost three months now. At the moment, the trend is slowly becoming a downtrend. This is even more obvious considering the signals we have from the daily charts and even the 4-hour chart. Before the year ends, we expect the SPX500 to fall towards the support levels at 2100.0, 2090.0 and 2080.0. This is more likely considering the present trend being bearish.


US30
Price Trend: Neutral

Ever since August, there has been an equilibrium phase in the US30; yet there has been reasonable drop in prices across the last two months. The trend could become an uptrend if a break occurs above the distribution territory located at 18650.0. On the other hand, should there be a break below the accumulation territory located at 17900.0, we could have a downtrend. But till these happen, we can confidently say the US30 is currently experiencing an equilibrium phase. Thus it very necessary to have selling or buying or selling pressure for prices break beyond this zone.


GER30
Price Trend: Bullish

On the daily chart, the trend has not changed from being bullish. But then when we look at smaller timeframes more critically, we see correction in prices. For last week, there was an obvious bearish correction on the 4-hour chart. For now, this is not sufficiently strong to really change the trend from being bullish. Across this week, we are not expecting any changes in the bullish trend. One strong condition for the trend to change from being bullish is prices breaking past 10100.0 which is a critical demand level.


AUS200
Price Trend: Bearish

There was a consolidation in price for the first week of last month. But as at last week, we were already seeing a drop. In the daily charts as well as the 4-hour chart, we are seeing Bearish Confirmation Patterns. This suggests that there could be further drop in prices; even falling towards 5200.0, 5100.0 or 5000.0 (all these being support lines) in the next two weeks. But then it is also possible we may have brief consolidations for the AUS200; as well as attempts to rise up.
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