The Current Big Trend of Oil is Up, the weekly chart below using a setup of Sywa Channel Trade Strategy shows a Buying Opportunity
The Daily Chart also showing a potential of upward movement, if the movement persist and Breakthrough the EMA 55 (purple lines), the next Resistance will be the last fractal lines.
Recent Storm on the Mexican gulf and USA also becoming the supporting fundamental for Bullish Oil. Here is the piece of the article Oil Up, Producers Brace for Potential Gulf of Mexico Hurricane
In Summary :
Trading Position： Bullish
Trading Target : 72.00
USD/JPY Weekly Setup 12 Oct 2021
From the Last post USD JPY Weekly Setup 27-sept-2021 The USD JPY Has since then breakout of the range, the current price as of this writing is 113.348.
From the Weekly Chart and Monthly Chart, the USD/JPY is clearly overbought, the price has break the Upper Channel Range (Green Dot), hence a good Possibility it will reverse. But The Current fundamental issues for USD is strong (Tapering, Inflation, Bond Yield Rise and possible of early Rate Hike), so even though the USD/JPY is in overbought situation to jump into conclusion to do Short Position is a bit early.
For Me personally, I don't like to go Long of USD/JPY in current situation, because that train has left. But Instead I will wait for chances to Go Short on USD/JPY.
On the Weekly chart and Monthly Chart Above, I set some possible Short Entry position based on peak of the Upper MA Channel with the Target of the Upper Range (Green Dot).
It even better to do short Position if Momentum Indicator in the Weekly or Monthly chart becomes Red.
Lets see How it Play Out !!
AUD USD Update Setup 19 - Sept - 2021
In the Previous last article AUD USD Weekly Setup 07 Sept 2021 I Trade Bearish on AUD USD. Here is the Update of current Daily Chart.
The AUD USD Pair is falling and break through The Channel, and the momentum indicator also showing further weakness for the Pair. From the Weekly Chart below, the next target should be on the 100 MA but if the Pair Reverse which I personally think is unlikely, but if it is then the target should be on the Upper Channel.
Economic Calendar to watch for when Trading AUD USD in the coming week:
Sept, 21, 2021 RBA Meeting Minutes
Sept 23, 2021 FOMC and the Fed Interest Rate Decision
USD/JPY Weekly Setup 27-Sept-2021
Weekly Chart :
This is my Weekly USD/JPY Chart Setup, as We can see the USD JPY has been ranging for several weeks within range of 110.742 to 109.26, Although my analysis on Weekly Time Frame suggest that the price of the USD/JPY should reverse soon, but in the Daily Chart the momentum is still strong.
Daily Chart :
My tactics for this setup is Wait and See and looking for Sell Opportunity, When the price fall Below the High Range (Green dot on the Daily Chart) that is the best opportunity to Sell with the First target is the Upper Channel of the Daily Chart.
EUR/NZD WEEKLY SETUP UPDATE
From the previous Post EUR NZD Weekly Setup on 07 Sept 2021, I posted that the EUR NZD is trading on the Ranging Market, although its actually broke the ranging market but the pair hold the Low from February 2021, and currently rise above and entering the Range market again.
From the Daily Chart the momentum Indicator Shows upward movement and price also significantly move higher, but there is a Fractal Resistance in the Daily Chart, if in the coming Days EUR NZD able to close above the Channel and even better break the Fractal Resistance, there is a good chance this pair will go to the top of the range in the weekly Chart which is around 1.7203.
Trading Position : Bullish
Target : 1.6989
- USD/JPY Weekly Setup 12 Oct 2021
- USD/JPY Weekly Setup 27-Sept-2021
- AUD USD Update Setup 19 - Sept - 2021
- Update EUR NZD Weekly Setup 19 Sept 2021
- Why Trading Reversal is Difficult
- AUD USD Trading Setup 07 - Sept - 2021
- EUR NZD Weekly Setup 07-Sept-2021
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