Daily Technicals For Monday: FX, Bonds, Commodities
Eddie Tofpik | Mar 26, 2018 08:53
EURUSD
The market tried again to close over the recent 50% fib resistance at 1.2355 on friday but failed…we’re seemingly trying again today.
CABLE
A small follow on to the previous close and ending once again on the lower tine of the jan – feb andrews pitchfork (currently 1.4143)…this tine still seems to be running the bullish angle-of-attack of the market.
EURGBP
A bullish white soldier following a seemingly strong bullish northern doji cross…we nevertheless have a bearish dead cross on the mas with the short going down through the medium.
USDJPY
A third bearish black crow and second since the key reversal down on the daily chart…we may be coming to a cusp here as though we are still seemingly running down the line of the recently broken but still key downtrend (currently 104.95) which had been giving direction this whole year… we are nevertheless now touching the steadily advancing 2016-to-date uptrend (currently 104.51)…watch this one carefully now.
AUSSIE DOLLAR
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A possible bearish inverted hammer as the market rose up to test the key may – sep 2017 50% fib at 0.7730 but then later fell away closing near to the previous day’s close…today we’ve tried up to the 50% fib again but have so far failed to effectivcely go over.
NYMEX CRUDE FUTURES
A bullish key reversal up and a follow through today to almost see the market reach the target in the 66.80 area for the recent descending triangle pattern…please bear in mind that descending triangles can also be bullish…today we have a new mar high…and the market may try up to have a new 2018 high…watch this one.
FTSE FUTURES
A new 2018 low but also a bullish white soldier as we approach the 2016-to-date uptrend (currently 6743)…the recent potential bear flag target area at 6575 also comes into view.
DAX FUTURES
An indecisive spinning top pattern and second consecutive close below the recent 50% fib at 12 161…ahead… we’ve the lower tine support of the 2011 – 2016 andrews pitchfork (currently 11 635) as well as the 2018 low at 11 725…the potential bear flag target in the 11 000 area is also in view.
S&P FUTURES
A third bearish black crow and second consecutive close below the very key recent 50% fib at 2647…we’d halted at the key support of the long ma (currently 2587) and we’ve not attempted any lower today…however…we may still have the possible recent bear flag target around 2450 in view on any significant push below the long ma and the 2018 lows at 2530.
GILT FUTURES
A possible tweezer top as the market failed to try any further towards the key recent 50% fib resistance at 123.33.
BUND FUTURES
An indecisive doji cross…almost a bullish northern cross…as the market has gotten caught between tine, fib and ma resistance in the 158.99 – 159.04 area and 50% fib supports between 158.62 – 158.54…the market sought comfort and proximity near the gradually descending middle tine of the sep – dec 2017 schiff pitchfork (currently 158.99)…it’s reached it and has halted there for the moment.
U.S. BOND FUTURES
An indecisive spinning top as the market is seemingly caught between descending andrews pitchfork tines between 145.13 – 145.23 and the support offered by the recent 50% fib at 144.09.
LME 3 MONTH COPPER
A new 2018 low…and another new 2018 low today…a second consecutive close below the 2016-to-date uptrend…this seems no longer valid plus we’ve a first close below the long ma (currently 6694)…this is now resistance….today…we are below the long ma at this time.
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