the TFXT Members Guide to Risk and Money Management Guide to order types and Forex Terms

Transcription

1 15 December

2 Morning Comment - No record highs for the first time this week and after registering two Doji type daily candles in recent days, the S&P has seen some follow through to the downside overnight. There is the possibility after a deeper pullback developing and to protect again this we suggest using 2650 as the reassessment/ stop loss level for the bullish view. - As we wrote yesterday we prefer to let dust settle for 24hours post an interest rate move. I must admit after last nights rejection of higher prices I m less certain of the EURUSD wave count below. To remain bullish we need to see the EURUSD hold the /10 support region. Happy to stay on the sidelines for the time being. - Post the very strong Australian employment data yesterday combined with a dovish FOMC the AUDUSD is now within eye sight of the.7700c target outlined in our weekly report. The current rally counts best as Wave A of a potential ABC correction which may result in the AUDUSD trading higher than originally anticipated before the downtrend resumes. Revised upside targets 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 The strong AU Employment numbers at AEST yesterday, provided the catalyst for AUDNZD to bounce from the support area highlighted in our Weekly Report. A close above /20 and then through would confirm a move towards is underway. Conversely a close below would be a negative development. 2

3 - Overnight Gold has formed a Doji candle, beneath the key trendline resistance which is now coming in 1268 area. This is the set-up only for a short trade. The catalyst of trigger would be a decline through 1249 area. In this instance buy stops should be placed above 1273 and the target for the move is 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. 3

4 S&P 500 Update: No record highs for the first time this week and after registering two Doji type daily candles in recent days, the S&P has seen some follow through to the downside overnight. There is the possibility after a deeper pullback developing and to protect again this we suggest using 2650 as the reassessment level for the bullish view. Source Tradingview. The figures stated are as of the 14th of Dec. Past performance is not a reliable indicator of future performance. This report does 4

5 EURUSD Update: As we wrote yesterday we prefer to let dust settle for 24hours post an interest rate move. I must admit after last nights rejection of higher prices I m less certain of the EURUSD wave count below. To remain bullish we need to see the EURUSD hold the /10 support region. Happy to stay on the sidelines for the time being. Source Tradingview. The figures stated are as of the 15th of Dec. Past performance is not a reliable indicator of future performance. This report does 5

6 GBPUSD Update: GBPUSD has edged further away from the /80 key support and while GBPUSD trades above this region there is the potential for another leg higher towards the top of the trend channel / region. However a break and close below would return the focus to the downside and more so should trendline support /80 area break. Not one for the faint hearted, given ongoing Brexit comments. Source Tradingview. The figures stated are as of the 15th of Dec. Past performance is not a reliable indicator of future performance. This report does 6

7 AUDUSD Update: Post the very strong Australian employment data yesterday combined with a dovish FOMC the AUDUSD is now within eye sight of the.7700c target outlined in our weekly report. The current rally counts best as Wave A of a potential ABC correction which may result in the AUDUSD trading higher than originally anticipated before the downtrend resumes. Revised upside targets 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 Source Tradingview. The figures stated are as of the 15th of Dec. Past performance is not a reliable indicator of future performance. This report does 7

8 AUDUSD VS IRON ORE AUDUSD VS IRON ORE: The gap between AUDUSD and IRON ORE has closed considerably this week. Source Tradingview. The figures stated are as of the 15th of Dec. Past performance is not a reliable indicator of future performance. This report does 8

9 EURAUD Update: EURAUD has edged towards the trendline support at that has defined the uptrend since March this year. Watching now for a reversal candle to form from the support. Source Tradingview. The figures stated are as of the 15th of Dec. Past performance is not a reliable indicator of future performance. This report does 9

10 AUDNZD Update: The strong AU Employment numbers at AEST yesterday, provided the catalyst for AUDNZD to bounce from the support area highlighted in our Weekly Report. A close above /20 and then through would confirm a move towards is underway. Conversely a close below would be a negative development. Source Tradingview. The figures stated are as of the 15th of Dec. Past performance is not a reliable indicator of future performance. This report does 10

11 CRUDE OIL Update: The corrective Wave IV pullback continues to evolve. Ideally we are looking to buy crude in the $55.40/54.80 support region, before the next leg higher commences. Source Tradingview. The figures stated are as of the 15th of Dec. Past performance is not a reliable indicator of future performance. This report does 11

12 GOLD Update: Overnight Gold has formed a Doji candle, beneath the key trendline resistance which is now coming in 1268 area. This is the set-up only for a short trade. The catalyst of trigger would be a decline through 1249 area. In this instance buy stops should be placed above 1273 and the target for the move is Source Tradingview. The figures stated are as of the 14th of Dec. Past performance is not a reliable indicator of future performance. This report does 12

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