 Hi guys, happy Sunday, hope you all had a good weekend and of course I'm not going to start this without talking about yesterday and how Arsenal became 14 time winners of the FA Cup beating Chelsea. So yeah it's been a good weekend for me, I hope you have enjoyed it as much as possible, I was about to say as much as I have but understandably for Chelsea fans it's probably been quite a hard weekend. We'll have a quick look over the charts and as usual guys any any questions that you have just you know far away and I'll be more than happy to to go through those as and when. I mean looking at just the Euro here from from last couple of weeks insane move however you know that they're certainly looking at that candle how we finish Friday pretty pretty key you would say I'd almost be half tempted to look for a short little correction move in the Euro let's just make this chart even smaller and here we're going back to you know for whatever reason you know I haven't marked up that 24th of September high really because obviously it's quite far away but you can see it hit that rejected it and we have come lower so you can see now the way people I think will be looking at things going into the new week new month as well is we've rejected one level two levels three levels and also the high of the 27th of July all taken off in one day so pretty key there from the bears anyway of this this currency pair maybe we're actually gonna start to see a bit of a drift lower and now how would I go about that I think obviously you're now looking to sort of just maneuver some of these these lines to sort of get right on certain levels now we're going about it doing this for me I'm just gonna remove the ones down below because it's unlikely of course that we're gonna get a massive move down there and if it did obviously just be aware of the highs from the 9th of March that we had which would obviously be an area that people would would be looking to get in again so massive move lower than just be aware of these two points here however obviously unlikely to get there so the two ways I'd almost be looking at this this pair is you've got the opportunity to get long and I would say if it gets back above this 118 handle on a daily close that's that's sort of saying okay the bears one Friday but now they've given up a bit and actually maybe we start to push on to that yearly high again however if we do stay below this 118 I wouldn't be too surprised to see us then come down to the 117 handle and then obviously what happens at that point is well another decision has to be made do the the bias step in or do we dip drip drip back down towards the the 23rd of July high and if that goes well this is when this area comes in a bit quicker and yeah that would give me quite excited however I think from lining the sand the 118 handle is gonna be it's gonna be pretty useful to keep an eye on the only thing you would say is obviously we've got non fun pair or some Friday and now the sort of the earnings are done and what not it might be that especially after a big move like you've seen here we just drift sideways for a bit so maybe not expecting fireworks just yet you can see these moves are pretty similar maybe we just have to range a touch I think we do push low I think on the week we're gonna finish lower but that said a daily close above 118 on the futures then I would be looking to sort of I guess you know redo my analysis and say okay you're wrong for now and actually it looks like we could get another test of that high so that's how I see the euro just before we go on to the pound I think it's worth having a look at the the weekly chart here as well actually I'm gonna put that on a daily just to leave those levels for next week and we'll go to we'll go to the euro on the weekly but just remove everything give me one second yeah so you can see on the weekly of course yeah up to levels not seen for for quite some time and you know sometimes you look back at these in in in a few weeks months time you think God was that the opportunity to get short this market I think people will be thinking that so we'll have to have to hold out and see how that goes if we haven't a look at the chart since the beginning of time it's have a look to see if we can get any rough trend lines on look at that look at that I mean that is that could be we could have seen the high for a while is is how you need to get the focus but also on the flip side you can see how important that's going to be you can really see you know if we were to get close up above that trend line multi-decade trend line what's the stop it going towards that one twenty two area you know these lows that we've got you know from February 18 big big level to keep an eye on so just bear that in mind going forward for the next couple of weeks pounds you can see pushed on again came down a bit on on Friday but had gone one two three four five six seven eight nine nine days to the upside one two three four five six seven eight nine ten days to the upside one thirty two will be an area of focus a good enough test of it you have to say it's only 20 ticks away from from sort of retesting that high that we had on the 6th of March which would be basically a reverse of the coronavirus move that we saw where pounders dropped off the cliff so how to go about this into the the new week levels to the downside of course can still stay on this boxed area I'm just gonna circle it circle it shaded in now that for me is key keep a watch on that because if we do drip below the 130 that's when I think you're gonna see this market come under a bit more pressure what could be the queue for that could be some serious dollar strength in the euro and we drift lower and then the pound does as well pullbacks would be welcome for sure and this is another market where I'm just gonna put it on to the weekly chart and again remove everything for you and then you're gonna have people looking at the the trend line here so going back from the 2018 high I mean look at that it's it's beyond perfect and does it break I from a risk reward point of view I think you've got two very good opportunities here to go short on the euro and the pound I expect weak red candles I expect on the week doing this next Sunday it's gonna be we're gonna have a few days into the downside and you can just see the importance of this that said we close a week above this and next thing you know it's 135 is next thing you know it's what it's 137 50 60 and for the euro you know we've already gone through those levels so yeah if you like your your longer time frames and you can see the importance of those in play there so do do do do keep a watch on how we react around those previous highs if we even get back to text test them Aussie dollar we had a level marked up 7215 why did we have it marked up yeah this this resistance here from February and April last year it's important and you can just see that those lows I mean just the way I'd I'd be looking at these these markets these dollar pairs is we just come into such key key resistance and you know everyone's now talk about the dollar is dead it's when everyone thinks that on all the headlines are saying it that you start to get people taking a bit of profit and then we reverse and then suddenly you get some good news out the US or some bad news out of Europe or Australia or the UK and things turn around and they come down quite quick I'm bullish the US dollar this week is what I'm saying I will be wrong in my opinion if we get back above 7215 you can see there's a nice little little nice push you could get towards that next target where would that sort of line in the sand be where you know the buyers have to defend for me it's this this this stone here obviously on the 21st of July so two months ago we really pushed higher be interested to see what happens if we come back to test all of that you'd argue similar to the euro we quickly quickly go back to the euro that circled area in the euro is a point where the balls will fancy going along here for the Aussie let's make it a circle as well it's going to be this point here and as long as that holds you know this is pullback would be fine and just give up with people opportunity to get in again I think we get a test of that I think we get a test of the euro one and the pound this is make a circle here for the similar sort of range you know I think we get a test of those in the coming weeks if not if not next week that said now what makes me slightly less confident on that is that I'm still I'm still quite bullish US equities and for them to go higher the correlation we're seeing at the moment is the dollar is becoming weaker that your currency such as the pound and the Aussie are going higher so it's something just to think about for the S&P and that correlation with equities of course and currencies of course trade what you see not what you think and if I mean if the S&P was to get back below this area support then then that's wrong you know and regardless of what currencies are doing but on the flip side if we get above this rectangular area really sort of 30 300 handle which was the low that we had back on the 10th of Feb you might start to see the currencies actually find a bit of support me push on but I wouldn't change anything looking at this for the for equity markets it's decision time has to be made above or below this little range that we're in and I would fancy longs from all of these points below these two points below if we come 31 89 again a close of the day below that and also I'll move an average here which the 21 period then I think we would get these these levels to come in and then it's another decision time close of the day above the high that we had on the 23rd of July and the low of the 10th of Feb is key having a look at this on the weekly chart you can see how important it was where we closed you can see here if we take away that last week and obviously this is the month you get strong resist air support turns to resistance and you get one rejection to rejection close above it's the first close above it's the highest actually I believe this month on it's the highest the S&P has ever closed a month silence says it all so yeah going back to the S&P here on the the daily decision time decision time here or below so let's hold out see how it goes the NASDAQ I'm not not going to change anything on this either really other than you know just that double top on the all-time high trend channels in intact the 21 day moving average leave it on because it has been respected enough but it's starting to get a bit messy and let me just remove these couple of rectangles on here I mean looking at this you know it's once we close below this area you can see we pushed down and then it's this previous all-time high in the trend channel and that was a really good opportunity back on the 24th of July which I believe was Friday before we started the the next week that rejection led us to push high we now closed above this area so that's your line in the sand for me I would imagine we get an all-time high test again in the next couple of days and decision time do we reject it do we push higher let's hold out and see for the Dow Jones let's just remove everything because we couldn't cover it last week so we'll start a fresh and actually key key area here got those lows from Jan and Feb we need to keep a watch on there still a fair whack away certainly looks like there's a decent enough trend line coming from the lows a couple of failed tests there Thursday Friday that would have been interesting to see if we had closed below there and that the maybe the S&P would have closed its week below good good buying pressure coming in then you see also the low from the 14th of July so strong finish on Friday I would say also back above the trend line I'd expect that we get the the double top from the 15th and the 23rd of July I reckon that comes in where would it be wrong a close of the day below Thursday and Friday's double bottom above there obviously just keep a watch because you're likely to get a nice move towards the night of June good week for equities and it's it would be looking very nice because you likely had you know the S&P you know if we can close the week above 33 30 then it's all-time highs very shortly the NASDAQ will be on all-time highs and you may well start to get the Dow getting closer towards this January and February double bottom which is massive you'd expect a big challenge to get through that where the others might find it a bit easier or the NASDAQ certainly did the S&P we haven't quite seen it just yet gold pushing on that's a new new all-time high for for gold I believe yeah we got that course and didn't you know just put it on the 60 minute just to see how it reacted around that point yeah a bit of resistance came down then found a bit of support it's it's interesting I was actually you know looking just on Twitter yesterday and some people were saying we're we're gonna come a bit lower and you know the the argument for that is dollar strength in the pairs at massive resistance levels if the dollar start strengthening whether it just be because a bit of profit taking or whatever gold there's got to come lower and I think you know looking at looking how we finish Friday you've got the 28th of July then we couldn't close above at the 29th couldn't close above it the 30th had a go on Friday but we couldn't you know four days without getting above 1975 I think it's worth a little short again risk rules quite nice that it might want to you know take 2000 that and then come come a bit lower if you want to be a bit safer then you know you could be looking at sort of 1936 and short below there and then you just sort of take profit on you know these previous highs that turn to lows 1900 hand obviously looks quite significant targets to the upside it depends how you really want to go about this I'd say it's you know if you're still long and it's a risk-free trade completely then you are slightly happier and just a little run anyway aren't you you know if it's a longer term trade you know the conditions are still quite nice for gold I would just I'm not gonna you know for the first three currencies we went through I'm happy to put my neck on the line and say we come lower for gold you know I think we could have a little pullback but it's more like I'd say 55% sure after a fantastic run that it's been on boil we said last week didn't we know if it was a good enough weekend it wouldn't technically be the worst idea to get long it just never really really went and we had a break with that trend and we had a break of support it just came down to 39 38 $39 and I think the the last few closes on the week so you can see it being pretty much the same so it's just not there at the moment for oil and I actually traded to the short side on the the Thursday and quite poorly actually you think what it went down all that way yes it did I just came out way too early on that way too early however we've we've rebounded since Thursday's low and you can just see here looking at 60 minute it never really threatened again that low so looking on the day I mean looking at this having looked at one two three four five six seven other markets it's not appealing is it really looking at oil so maybe a bigger move to come you know the way oil can you know spring to life is it's certainly you know worth looking at it just doesn't look like there's much going to happen until we break out this it's the horrible little range that we've been in you know the trend line breaks have become it you know horrible and yeah I don't know even if we break 38 39 and you got a lot of support it just hasn't really done anything since 19th of June I'd be interested to know what you guys think about oil I'm still you know I still think we do go higher overall and but maybe you know the dollar strength side of things and that would have to postpone that but I'm not in an oil trade however I would like to have another go long 43 43 above there towards you know the 50 dollar handle more importantly the the third of March high which is 48 58 but what the hold out and see silver that finish is not good is it look at that what finish on the week I mean the more just looking at these charts the more I'm I'm really developing this dollar strength bias for the week yeah I mean the four you know two rejections of the high that you've got from August 13 look at that I mean test come back I mean you know the way to obviously to then go about this looking on the daily chart is you know it's it's gappy of course but yeah it's a bit cleaner you'd say that the balls are happy as long as it stays above the low that we had on the 23rd and the 28th what candle that is and if you want to be safe and not short right away then underneath 2245 is the place for that I mean just from having a look at these charts I'm gonna be really interested to listen to Anthony's briefing tomorrow but I'm getting a dollar strength vibe which is annoying because how is that going to impact the equity markets we'll see Dex look at that look at that break of the trend break of a massive area support and a big push lower also this this close below these lows is not nice I know the footsie had a poor week as well had a little go maybe a couple weeks ago on the footsie just trying to get in didn't happen didn't work didn't really go for the bite and Dex it'd be interesting if we can come back down to the 12,000 handle because that's the way it's looking like on the flip side you know how to get in along here you know if we get this rectangular area you know this is now in control the sellers so daily close back above here you know is something to you know to be aware of and especially if you get risk on you know this zone becomes opportunity for buyers to come in however you know I would well you really would only get in that of course if it closes the day above so I think that's a safe way to go about looking for longs likelihood is 12,000 comes in just the way we finished the day and the week anyway guys hope you all had a good time watching that and also the enjoyed the lecture lecture the webinar Anthony Piers Alex and myself did that was uploaded yesterday I'll drop the link below but yeah I hope you all have a good week ahead a good month ahead and I'll catch you all next Sunday