Gold is testing the major uptrendline ($1,600) as I write (check my post from previous Friday). It does look like more downside is to come but it pays to lighten up since gold short is already up $100 from where i recommended. Woahh, now $1.587!!!!!
Silver target is $25.5, the width of the symmetrical triangle. There is a major swing low from Oct 26th at $26. Even if silver does not reach 25.5, it should potentially reach the Oct 26 low.
Crude Oil (WTI) testing its Nov 22/23 valley & a close below $95 (which incidentally will also be below 200MA) will confirm a double top targeting $87.5 . There is a 50MA at $94.27, which is the last support on the way down.
USDJPY- if and when it closes above 78.5 on a daily basis, we will get a major long signal. Keep it on your radar.
GBPAUD is another long candidate from 1.5526 (this one i missed but happy to add on any retracement). First target 1.5740, second target 1.5890. Stop loss 1.5445
USDCHF nad GBPCHF (last Tuesday post) acting as planned but AUDCHF is weak and it is worrying.
Finally, GBPUSD and AUDUSD and accelerating downside (last Tuesday post) from sell entry points I mentioned. So, nothing to do here but to bring stops at least to breakeven. These two will be my medium term trades which I intend to hold for a couple of months. Therefore, I will build shorts into rallies with very wide stop losses. Same applies to USDCAD and in particular EURUSD.
Silver target is $25.5, the width of the symmetrical triangle. There is a major swing low from Oct 26th at $26. Even if silver does not reach 25.5, it should potentially reach the Oct 26 low.
Crude Oil (WTI) testing its Nov 22/23 valley & a close below $95 (which incidentally will also be below 200MA) will confirm a double top targeting $87.5 . There is a 50MA at $94.27, which is the last support on the way down.
USDJPY- if and when it closes above 78.5 on a daily basis, we will get a major long signal. Keep it on your radar.
GBPAUD is another long candidate from 1.5526 (this one i missed but happy to add on any retracement). First target 1.5740, second target 1.5890. Stop loss 1.5445
USDCHF nad GBPCHF (last Tuesday post) acting as planned but AUDCHF is weak and it is worrying.
Finally, GBPUSD and AUDUSD and accelerating downside (last Tuesday post) from sell entry points I mentioned. So, nothing to do here but to bring stops at least to breakeven. These two will be my medium term trades which I intend to hold for a couple of months. Therefore, I will build shorts into rallies with very wide stop losses. Same applies to USDCAD and in particular EURUSD.
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