20 december 2017 - techfxtraders.com · - the eurusd has edged towards the top of its 1.1860/80...

20 December 2017

220 December, 2017

TECHFX TRADERS ANNOUNCEMENT

TECHFX TRADERS would like to take this opportunity to wish our clients and their families a very safe and happy holiday period and all the

best for 2018. TECHFX TRADERS reports and updates will continue through until the end of December, apart from the public holiday dates.

However we wish to advise we will be taking two weeks off from January 1 until January 13.

When we recommence in mid-January TECHFX TRADERS will continue to provide a professional technical report with some modifications to

the existing service. Given the current low volatility across asset classes there seems to be less need for five reports per week. Hence we

will reduce the number of reports to three times per week. Our Weekly report will continue as per usual on Sunday with updates to follow

on Tuesday and Thursday mornings. We will continue to highlight trade ideas including suggested entry levels, stop loss’s and profit targets.

The pricing for the reports will be reduced to 50$ per month.

As you may have noticed in recent reports we have also looked to find opportunities outside of FX in asset classes such as Gold, Oil, Dax and

S&P500 where there are established trends in place and therefore better trading opportunities. We also intend to start covering some

cryptocurrencies early in the New Year.

Thankyou again for your support in 2017 and if you do have any questions or concerns please email me on [email protected].

320 December, 2017

Morning Comment- With the house of Representatives expected to vote on the final version of the tax bill in the next 24-48 hours, investors were content to lock in some

profits in the overnight session. We continue to look for a final push to our 2700 target before year end. However If for any reason the S&P500 was

to fall below 2650 it would be viewed as the initial confirmation a pullback to 2550/30 is underway.

- The EURUSD has edged towards the top of its 1.1860/80 range despite a good push higher in U.S bond yields. My preference is for an eventual move

higher, and suggest buying dips, leaning against 1.1710. However, should EURUSD close above 1.1880 a more aggressive strategy may be required as

it does open up a test of 1.1970 and then 1.2085.

- GBPUSD continues to consolidate above the key 1.300/1.3280 support region, which if broken would return the focus to the downside and more so if

the trendline support at 1.3200/80 breaks. Should the GBPUSD rally take another leg higher and break above 1.3560, it opens up a move to 1.3660

and then 1.3800.

- Providing AUDNZD continues to hold the 1.0850 support, I am happy to hold a long position from the 1.0900 area. A move above 1.1020 and then

1.1150 would be confirmation the next leg higher towards 1.1400/1.1500 is underway. However if AUDNZD was to lose support at 1.0850/25, I

would move to a more neutral stance.

420 December, 2017

- In Gold, another daily Doji candle looks to be in process of forming, below the trendline resistance which is coming in this morning

1272 area. Again we would view this type of candle as only the set up for a short trade. The trigger for a short entry would be a

decline below 1258 with a stop loss placed above 1278 and targeting a move towards 1200.

- Finally for today, the NZDUSD has found good selling interest over the past week in the .7000/.7030 region. I would view a break

below the support at .6970/65 as the initial confirmation a decline to .6900/.6850 region has commenced. The Buy stops on this trade

idea would be above .7040.

Tony

NB: If you haven’t already please take a moment to read over the TFXT Members Guide to Risk and Money Management and Guide to

order types and Forex Terms used which have been uploaded to our Forum.

If you do have any questions please feel free to ask me preferably via the Forum. I would love for the Forum to become the center of our

trading community whereby you can meet fellow traders, discuss markets and actively learn and navigate markets.

520 December,

2017Source Tradingview. The figures stated are as of the 20th of Dec 2017. Past performance is not a reliable indicator of future performance. This report does

not contain and is not to be taken as containing any financial product advice or financial product recommendation

S&P 500

Update: With the house of Representatives expected to vote on the final version of the tax bill in the next 24-48 hours, investors were

content to lock in some profits in the overnight session. We continue to look for a final push to our 2700 target before year end.

However If for any reason the S&P500 was to fall below 2650 it would be viewed as the initial confirmation a pullback to 2550/30 is

underway.

620 December,



EURUSD

Update: The EURUSD has edged towards the top of its 1.1860/80 range despite a good push higher in U.S bond yields. My preference is

for an eventual move higher, and suggest buying dips, leaning against 1.1710. However, should EURUSD close above 1.1880 a more

aggressive strategy may be required as it does open up a test of 1.1970 and then 1.2085.

720 December,



AUDUSD

Update: Unchanged - The AUDUSD is currently in Wave A of an ABC type corrective move. Revised upside targets for the complete

correction are .7740 which is the 38.2% fibo retracement of the recent decline from the .8125 high, followed by the 50% fibo at .7810

and then the 61.8% fib at .7885. Once this corrective phase is complete, I am looking for the downtrend to resume.

820 December,



NZDUSD

Update: The NZDUSD has found good selling interest over the past week in the .7000/.7030 region. I would view a break below the

support at .6970/65 as the initial confirmation a decline to .6900/.6850 region has commenced. The Buy stops on this trade idea would

be above .7040.

920 December,



GBPUSD

Update: GBPUSD continues to consolidate above the key 1.300/1.3280 support region, which if broken would return the focus to the

downside and more so if the trendline support at 1.3200/80 breaks. Should the GBPUSD rally take another leg higher and break above

1.3560, it opens up a move to 1.3660 and then 1.3800.

1020 December,



AUDUSD VS IRON ORE

AUDUSD VS IRON ORE: IRON ORE continues to trade above US$70.00 p/t, continuing to provide support for the AUDUSD.

1120 December,



EURAUD

Update: EURAUD has commenced its rebound from the trendline support where strong rallies have occurred from previously. In the

process it has triggered a long trade in EURAUD approx. 1.5445. Sell stops can now be placed just below 1.5300 and the target for the

trade is the 1.5800 region.

1220 December,



AUDNZD

Update: Unchanged - Providing AUDNZD continues to hold the 1.0850 support, I am happy to hold a long position from the 1.0900 area.

A move above 1.1020 and then 1.1150 would be confirmation the next leg higher towards 1.1400/1.1500 is underway. However if

AUDNZD was to lose support at 1.0850/25, I would move to a more neutral stance.

1320 December,



CRUDE OIL

Update: The Wave IV correction continues to evolve. I remain a patient buyer in the $55.80/54.80 support region with stops below

$54.00 and targeting a move towards $60.00.

1420 December,



GOLD

Update: Another daily Doji candle looks to be in process of forming, below the trendline resistance which is coming in this morning 1272

area. Again we would view this type of candle as only the set up for a short trade. The trigger for a short entry would be a decline below

1258 with a stop loss placed above 1278 and targeting a move towards 1200.

1520 December, 2017

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20 december 2017 - techfxtraders.com · - the eurusd has edged towards the top of its 1.1860/80...

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