30 january 2018 - techfxtraders.com · • the next test for our bullish bias in audnzd is the...

30 January 2018

230 January,

2018Source Tradingview. The figures stated are as of the 30th of Jan 2018. 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

• The S&P 500 is lower on the day as traders move to sidelines ahead of the key data due out this week (FOMC, ISM, NFP) and as yields

continue to edge higher. The U.S 10 year yield is trading this morning at 2.70% up 4 basis points from Fridays close.

• Technically, the uptrend remains in play unless support at firstly 2850 and then 2820 breaks. We note

• The VIX has been inching higher since the start of the year. Realized vol is up. Some signs that despite the strong start to the year

traders are long and nervous.

330 January,



VIX

430 January,



EURUSD

• The EURUSD has commenced a corrective pullback which should find support towards 1.2250 before the next leg higher commences.

• Should the pullback occur in a corrective manner, I will be looking for opportunities to set longs in anticipation of the next leg higher

towards 1.2750ish.

530 January,



AUDUSD

• A very quiet session for the AUDUSD overnight with the focus on tomorrows Q4 AU CPI data.

• .8125/35 and then .8163 remain the immediate topside targets before medium term resistance .8500.

• On the downside, support is viewed at .80c, a break of which would be initial confirmation a short term high is in place.

630 January,



AUDNZD

• The next test for our bullish bias in AUDNZD is the release of Q4 Australian CPI data tomorrow morning.

• A move above 1.1150 would set the scene for the rally to extend towards 1.1400.

• On the downside a break back below 1.1000 and then 1.0845/25 would be a negative development with room for losses to extend

towards 1.0500.

730 January,



EURAUD

• Early last week, I opened a small long EURAUD trade at 1.5294 on the back of the potential inverted head and shoulders pattern as

well as the constructive Elliott Wave count. However

• A break below 1.5280/60 would negate the potential bottoming pattern and as such my stop loss remains at 1.5240.

• The fortune of this trade now very much rests on the outcome of tomorrows Australian Q4 CPI data. My bias is for a softer inflation

number in Australia, after weak inflation readings in NZ and Canada last week.

830 January,



GBPUSD

• GBPUSD has reversed from the top of the trend channel viewed below.

• I feel the risks are for the pullback to continue at least back towards the 1.3950/30 region.

• Should support 1.3950/30 give way then we can look for the pullback to extend back to the 1.3600/1.3500 region.

• For the bullish argument to regain traction, a move above 1.4350 is required to open up a move towards 1.4700.

930 January,



CRUDE OIL

• Our Medium Term target remains the $72.00 region.

• Before that we are looking for a W IV pullback to present a buying opportunity in the $63.00/62.50 region.

• A break and close below $64.80 would be the first indication the aforementioned pullback has commenced.

1030 January,



GOLD

• Some preliminary signs of rejection in Gold from key resistance at the July 2016 high of $1375.

• While below $1375 I look for the pullback to develop back towards the 1320/00 region.

• However should Gold break and close above $1375 it would be confirmation the next leg higher towards $1440 has commenced.

1130 January,



BITCOIN

• No change to the view below:

• A daily close above the 12900/13000 resistance zone is required to indicate a move towards 20,000 is underway.

• Until then it is possible that Bitcoin takes another leg lower towards 8800 to complete the corrective sequence as indicated on the

chart below.

• While I used the recent dip to establish a partial long position around 10k, I have left room to add should Bitcoin take another leg

lower. Or alternatively, I will add to the position on a daily close above 12900/00. Stops on longs should be placed below 7700.

1230 January, 2018

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30 january 2018 - techfxtraders.com · • the next test for our bullish bias in audnzd is the...

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