27 august 2020...2 27 august, 2020 source tradingview. the figures stated are as of the 27 august...

27 August 2020

227 August,

2020Source Tradingview. The figures stated are as of the 27 August 2020. 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&P500

• The acceleration post the break above the February 3397.50 high is more symptomatic of a Wave iii than a Wave v.

• As stated in Tuesday's report, with the possibility of a double top now negated, it clears the way for the S&P500 to push on towards the

next upside target at 3500/3600. If anything that target after almost being achieved now appears too conservative.

• Ahead of the Jackson Hole symposium this weekend we wouldn’t advise chasing the rally and would prefer to buy a pullback.

• To negate the positive bias a break below uptrend support and the former all time high 3390/80 would be an initial indication the

uptrend has faltered and that a pullback towards the 200-day moving average 3100 is underway.

• Short Term Summary: Providing the S&P500 remains above 3390/80, look for the rally to continue towards 3600.

327 August,

2020Source Tradingview. The figures stated are as of the 27 August 2020. Past performance is not a reliable indicator of future performance. This report does


AUDUSD

• We have been working with the idea that the AUDUSD is closing in a completed 5-wave advance from the March .5508 low.

• Mindful that thus far the AUDUSD has failed to challenge any key downside support levels to support the idea that a meaningful

correction is underway including a test of the key support .7060/50 area.

• Also mindful that the AUDUSD has by and large tracked the S&P500 rally over the past 6 months and the AUDUSD may now play some

upside catch up with the S&P500 on a break above .7275.

• A break/close above .7275 would in theory open a test of the next upside level at .7400/7500c.

• Short Term Summary: A sustained break/close above .7275 post Jackson Hole Symposium would signal the next leg higher is

underway.

427 August,

2020Source Tradingview. The figures stated are as of the 27 August 2020 Past performance is not a reliable indicator of future performance. This report does


EURUSD

• After trading to a new cycle high last week, the EURUSD found good rejection ahead of the psychologically and technically important

1.2000/50 level and this suggests that a pullback has commenced.

• A break of the band of support 1.1710/1.1690 would allow the pullback to extend more deeply towards trendline support 1.1650/30

and possibly the March 1.1495 high.

• The plan is to allow the pullback to develop towards the support levels mentioned above and to look for an appropriate

opportunity/setup to rebuy the EURUSD in anticipation of the next leg higher towards 1.2550.

• Short Term Summary: The bias is to buy a corrective pullback in the EURUSD.

527 August, 2020Source Tradingview. The figures stated are as of 27 August 2020. 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

NZDUSD

• After completing a 5-wave rally from the March .5469 low to the .6715 high a correction commenced.

• The overnight rally and the ability to hold above the .6500c support, warns the correction is now complete at last weeks .6488 low.

• Further confirmation of this would be a break and close above last weeks .6650 high which would then warn of a retest and break of

the late July, .6715 high.

• Short Term Summary: Post the Jackson Hole Symposium we will review levels to buy the NZDUSD in anticipation of a test and break

above the .6715 high.


AUDNZD

• AUDNZD has followed our road map nicely in recent months including the pullback this week from the key resistance 1.1000/1.1050

area which deepened overnight

• The pullback is now approaching key support 1.0885/65 and should a bullish reversal daily candle form in this area it would be

viewed as the final setup for a long trade.

• There is a temptation to pre-empt the reversal candle and I will start build a small long position on a dip towards the 1.0885/65

support area, leaving room to add if the bullish reversal candle forms as mentioned above.

• TRADE IDEA: Looking to buy AUDNZD on a dip towards the 1.0885/65 support area. Leaving room to add if a bullish daily reversal

candle forms from this support region. The stop loss will be place initially below 1.0740. The target is a retest and break of the

1.1043 high. NB TRADE smaller size than usual given Jackson Hole.


USDJPY

• The 106.00 level continues to act a magnet for USDJPY. Clouding the outlook somewhat a three wave decline from the June 109.85

high to the July 104.19 low and a three-wave rally from the 104.19 low to the recent 107.05 high – all very corrective, messy and at the

same time intriguing.

• Should USDJPY rally above the 200-day moving average and recent highs 107.20/50 area, it would provide initial confirmation a

medium-term tradable low is in place at 104.19 and that USDJPY can retest the 109.85 high from June this year.

• Conversely, while below the 200-day moving average and recent highs 107.20/50 area, the risk of a retest of the 104.19 low remain.

• Short Term Summary: Neutral, with an eye to key resistance 107.20/50.


NZDJPY

• NZDJPY entered a correction after tracing out a 5-wave advance from the March 59.49 low to the 71.67 double high.

• Following the break below trendline support and the cluster of daily lows 69.55 area, we suggested entering a short NZDJPY trade at

69.45 looking for a pullback towards wave equality support 68.45/25.

• However like so many other markets currently the pullback was somewhat reluctant and sensing this we lowered the stop loss on

the short trade to breakeven.

• From here and post the overnight rally it appears the correction finished at last weeks 68.75 low and that a retest of the 71.67

double high is likely. Further confirmation would be a break/close above resistance 70.30/60.

• Short Term Summary: The corrective pullback in NZDJPY appears complete and close to moving towards a more positive view.


GOLD

• As noted in the Weekly Report two weeks ago, the bearish daily candle that formed at $2075 high, developed in a “good spot for

gold to complete a minor Wave iii top and to commence a pullback.”

• At this time, the correction in gold has unfolded in three waves and bounced from trendline support. Its unclear whether the

correction is now complete, or if it will continue to unfold in coming sessions.

• Happy to stay on the sidelines until after the Jackson Hole Symposium to revisit this chart.

• Short Term Summary: We are medium term gold bulls and looking for an appropriate set-up to rebuy gold.


Bitcoin

• A positive bias is in place following Bitcoins breakout above key resistance 10500/11,000 and is viewed as a sign that Bitcoin has

commenced a Wave III higher that targets the June 19, 13880 high before the all time 19666 high.

• In the short term, the pullback from last weeks 12473 high to the yesterdays 11112 low appears to be minor Wave ii which should

continue find support 11,300/11,000 area and certainly no lower than trendline support 10600/400 before the uptrend resumes.

• The stop loss on our long trade idea was stopped out at breakeven overnight (11,200). Although the correct place for a stop loss on

long positions is below 10400, we raised the stop loss to breakeven to prevent a profitable trade turning into a losing trade.

• Short Term Summary: A positive bias remains in place while above support 10600/10400. A pullback into this support will be looked at

closely for a buying opportunity.

1127 August, 2020

DISCLAIMER

DISCLAIMER

TECH-FX TRADING PTY LTD (ACN 617 797 645) is an Authorised Representative (1255203) of Gain Capital Australia Pty Ltd (ACN 141 774 727) which holds an Australian Financial Services Licence (number 345646).

The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments. Gain Capital Australia Pty Ltd recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets. It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com.au, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. GAIN Capital Australia Pty Ltd (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.

TECHFX TRADERS owns copyright of the information and material contained in this presentation/report/webinar. Information may be printed or downloaded for personal use. The information may not otherwise be reproduced and must not be distributed or transmitted to any other person or used in any way without the express approval of TECHFX TRADERS.

http://www.cityindex.com.au/

1227 August, 2020

DISCLAIMER

DISCLAIMER

TECH-FX TRADING PTY LTD (ACN 617 797 645) is an Authorised Representative (1255203) of Gain Capital Australia Pty Ltd (ACN 141 774 727) which holds an Australian Financial Services Licence (number 345646).

The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments. Gain Capital Australia Pty Ltd recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets. It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com.au, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. GAIN Capital Australia Pty Ltd (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.

TECHFX TRADERS owns copyright of the information and material contained in this presentation/report/webinar. Information may be printed or downloaded for personal use. The information may not otherwise be reproduced and must not be distributed or transmitted to any other person or used in any way without the express approval of TECHFX TRADERS.

http://www.cityindex.com.au/

27 august 2020...2 27 august, 2020 source tradingview. the figures stated are as of the 27 august...

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