 Hi guys, happy Sunday. Hope we've all had a good weekend so far Same as usual just have a look over the the charts how we finish the week One by one, but we'll also go over the new levels for the week and rather do that all in one go I'll start on the euro Having a look at last week and then doing this week as well So here we got the euro a couple of the levels we had marked up to the upside didn't really materialize But so you know they can they can stay on the key level to the downside Which you can see I've got an arrow marked up here And I guess this was saying where you know the buyers would potentially be looking for price to come back for that that next push You can see just how important As a resistance level it was on the 27th Of March, so yeah, I guess we're just you know looking at that as an important point for an area of support And let me just fix this camera quickly It's a fall over So yeah, the buyers could well look to come in I guess we're we're in it in a bit of a predicament with with the dollar side of things because You know if we if we do have some you know serious risk off then does the dollar strengthen But then does that force the feds hand and then weaken the dollar It's a tricky one. Isn't it right now? So trade what you see not necessarily what you think but below 1189 of the previous higher 27th of March breakthrough area that we saw in the third Then I would expect to see a bit of a downside come into this market and almost be looking at You know below here looking for price to drift back down to what you would expect would be a very solid level support And given the grand scheme of things with the Fed likely to be dovish for a long time and throw everything at the economy To boost economy sorry that that could be a level to to get in for the longs To well how we finish the week the fact that we just finished before my zone here below the zone here You would say is is bearish going into the week But obviously we're quite close to that next level so it works on the on the on the flip side for the longs if we can Get back above this area here Then you know the bears have you know given up on this area and the bulls can come back in and we can Then look to to push to the upside We'll just remove some of these these lines and really just sort of marking it up again now as a zone around this point here Haven't had a close above this level Which is interesting to the fifth of June high so that would be something I would would look to have on Let me just remove that on there But yeah, so bullish on the circle if we can get back up and then really targeting that rectangular area Pull these previous levels come in if we can drift below here Just be aware of these previous highs which could of course all act as areas of support as we come back through But overall not the biggest move it has to be said last week in terms of direction Yeah, we pushed high and came down and that looks a lot but not too far away from where we really opened But yeah bearish initial start I would expect on on Sunday this evening on the open, but maybe back down towards this area and then it's decision time But yeah, we'll see there's plenty of twists and turns to come I am sure of that moving over to the pound Where we hit our There was that on the 10th. Yes, so we hit the next target level We had marked up circled here and and just you know for the record I haven't even looked at the the remaining charts yet You know, I've literally just opened up the things that we're doing this one by one I'm sure there'll be some areas. I've missed and gone through but it's a good sort of learning lesson for For myself to go through as well. Um below the 200 day moving average Thursday Friday But yeah, what a great level for people to a book profit. I mean technically, you know, whenever you we find a Top or a bottom hindsight tells you it was a good level But yeah, you can see why people would have got out here was the sort of support point for this major move lower Good turning point for that Areas of support on Friday that came in Obviously the this are this previous high from the 8th Significant I would also just now remove Couple of these lines certainly not to the upside. They don't need changing the the high that we had on Friday You can see there's a really strong level here Quite a few markets actually broke Thursday came back to retest on Friday some previous levels and really was some great trades so to the I would say we can be bullish On the the pound if we get back above 126 49 bears in control at the moment If we are to have risk off Which potentially the weekend markets are Suggesting then I would imagine the pound comes under a bit of pressure and And maybe against the dollar isn't the right one to play but maybe other pairs it might make a bit more sense However below 124 67 just be aware because then we'll be looking to come to this trend line where a bigger move could absolutely take place Are we just getting squeezed in we have to wait and see but yeah the pound Relatively well respected on technical levels last week To be honest and as as euro was the Aussie um Interestingly couldn't get above our 31st of december high Had a few goes at doing that and couldn't I was lucky it didn't go above that because I didn't even mark up the levels But you can see here you would you were gone sort of july 19 and and then april 19 as well If you wanted to let's just remove this one on here Just be aware of you know again like the euro no close above this area and obviously it's now a zone Up at these highs This was a good example What I was just talking about on the pound breaks a low on fursday come back on friday to test it and that's obviously offered a good level of resistance As if we are to risk on any week any part of this week and push hard just be aware of You know these previous lows that I've marked up on the daily while slightly choppy fursday friday They're going to hold significance there as well um Way we finished on on friday you would you would suggest it is a bit It's a bit tricky to really cool um I would you know wait Be late to the party above 69 31 Then I would be looking to buy and target those highs again if we get uh below 68 53 I'd be looking for 67 56 to come back in 200 a moving average will be key to the downside as will Obviously 67 56, but also any areas of support here if we are to have a very heavy risk Of weight trend line like you saw in the pound is on here in in the ozzy Overall, I think there's more room to the upside in the ozzy just maybe not right yet. Um the the weekend The weekend uh market on ig is is saying At the moment the dow was almost a percent down As our equity market. So this is likely to lead to a gap in futures on the open and You know ozzy euro pound likely to come under a touch pressure because of some potential dollar strength from that The correlation with the ozzy and the s and p has been phenomenal So yeah, just bear that in mind and have your areas long above short below and Or have your fundamental view and an early trade that when that comes in It would be my advice s and p let's have a look um We came up didn't we got above here? uh, obviously the fed on the On the 10th. So like I was saying last time they didn't think much would happen and I thought it'd be a short term high um hindsight says it was you know A mix of things though, isn't it? You know the the fed the second wave um as well as You know trump's handling of what's going on as well not great All adding to it at the same time comes under a bit of pressure and you obviously got us china stuff as well Yeah, I mean we would do a pullback. Won't we interestingly haven't closed below the 200 day moving average? um 2995 As well look at that another sort of rectangular area. I had marks up from last week finds good support You would say the the bulls would want us above 31 14 Looking at this and and that would be That would be an opportunity to buy, you know late on I mean look you see the arrow here looks perfect. Doesn't it come back down to them and push up However, you got to assess the situation really would you have gone long friday? On the close with the the idea to hold um For a long period of time probably not probably not um So if there is a gap it might well be that we end up below the Rectangular area here and then you are looking back down to 2900 And then below that the bottom of that range Could scare people a bit couldn't it? Um, so yeah, let me just remove some of these Some of these arrows and get the new levels marked up I would Let's move this to there here. This is what I'm saying. You know those support break come back Great area of that resistance provided remove 30 39 now Even though we did just close pretty much back Yeah, just be aware 30 37 um Let's see what else I would move pretty move 31 14 now again. It's more of a more of a Zone isn't it that I was saying I'd be along there above Let me look at their support support support. Are they after the Fed? See you later 31 82 Yeah, gotta have that one still 32 30 and probably just remove a bit again making this more of a zone on those highs Uh, and yeah, that's how kind of how I'd have it obviously to be aware if we do push lower the lows of these days um, and this 28 86 Few points either way has been a fantastic zone where People will be saying well, you know, let's get long here or short below. So Yeah, nasdaq it's uh friday about Five o'clock was positive on the week. It was insane. You know the the first day the dow moved down 1800 nasdaq was still positive on the day, I mean So we carried on to push higher we hit the 10 000 we broke through Broke the lows on thursday came back to retest the 9th of june Low that offered a resistance. We came back down to find support on the second one of the areas we had marked up Uh, if we push lower be aware of the trend line Uh, and all of these lows in between 14 and 42 A lot of support down at these lows though That even with that trend line going people will potentially be looking to get long Just to bear in mind, let me just remove A couple of these lines Pretty keep pretty simple like that is you know, aren't we just in a In a trending up up down up down up down up down up down Is this now the opportunity to get long again? The weekend market suggests no, uh, but that could be faded very quickly As well. So yeah, wait wait and see the numbers Out of florida, for example, we're causing a bit of a bit of panic in the market I'll leave it to enter to talk over the fundamental viewpoint, but my two pence is Trump's not going to shut down. I know it's not down to him and the individual states can do it It will be probably the it'll probably be quite political when it, you know, democratic states Probably maybe you're going to shut down republicans might not and it gets Yeah, just another way another excuse for for for chump to blame people with if it hurts the economy You know, he said we should have kept open blah blah blah but yeah, we'll We'll have to wait and see there On that I I said in in a fred with alex Who's one of the the mentors here at ampire as well Just saying how for me the bigger Thing would be if europe You know really starts to to close down again if we had to if we get that second wave because a lot of countries have been Praised for how they they've dealt with it most notably germany So if numbers were to increase there and we shut down and now we've got a big problem Because we priced in the second wave and then we Unwound that and now we're talking about the second wave When in some parts we're still in the first confusing, right? But yeah, let's wait and see let's wait and see and let the market tell us what's going on below the tread line You can't be bullish until you hit some of these supports and maybe the news gets a bit better if you would Like me you'd look for the longs But be happy to be late. I would say above 98 18 is that area, you know above here on the close Well, you're looking for it to push up to the push on to the all-time highs The dow broke above here, you know, if there wasn't the fed What a what a place to then get long to target this massive area of resistance doesn't happen Fair we have a bad Thursday smash through our levels I've been looking at this though. I've been looking at I mean, this is A great area to look to get long bullish price action around here. Maybe a false break You know, would I adjust any of those areas on the down? I mean, yes Just moving that to that low make this more of a zone as well 200 day moving average probably now just move that to that low here This can be moved up there And obviously marking up these lows one Two three four lows of the day All those days around there. So you want a big level near the 25,000 handle You've got it right there. Uh, but this makes a massive area of support underneath underneath, uh 24 7 6 9 Well, I mean we could start pushing down to these lows here and then it gets ugly These markets can change very quickly as we know. Um I'm not of the position right now where I think it's panic stations But interesting to review this next Sunday because of course that we could have a very quick move lower, you know but um, yeah I still think there's there's upside to come but We can suggest downside initially early on Gold funny one with everything pushing Down back into the week gold wasn't really catching a bid It's contained. I mean I I would I wouldn't even move any of these these levels I've got marked on just you know, gold broke through Uh, our key level came back to test it perfectly I guess that would have been the targets It's still we bullish above 17 22 bearish below We're range bounding gold to be honest. I you can't look at that on a daily chart and say otherwise You can't and so therefore The the resistance levels 46 58 and then the higher the year remain below Yeah, I mean you've got you've got the handle in there 1684 and then you know these lower points as well, which you'd mark on but Yeah, the only worrying thing of course From you know looking at what happened in February was when markets were getting jittery gold didn't really push on Are we seeing that 2.0 in that sort of liquidation margin call? Um Example we saw we have to wait and see but yeah, didn't really didn't really want to come down. Did it silver? um that high technical analysts Um, you know who went short there a loving life right now, uh trend nine look at that still holding quite nice um Probably have to remove 1781 now a bit choppy in there Key zone came up to test it didn't quite get above it And that led to this push Thursday, friday be aware of the trend line I would say on silver said I mean to the downside my levels would stay the same But I guess if we do push lower you probably are going to want to start marking up some of these in in preparation This holds and we do see some risk off and gold and silver catch a bit then yeah 18 Uh 19 would be a ceiling to be aware of for for that well, um Yeah, I mean it it it kind of did what we we said last sunday have a bit of a push on the positive news and that could then Lead to a bit of profit taking of by the room or sell the fact and and and that's what's what's happened um Interestingly, we didn't close below 36 29 um Which for me would have been bearish for the week You can see these highs here. I mean, maybe I should have had them on last week in in uh If I'm being critical I can't remember if I talked about them or not now, but yeah 34 93 you'd have on making a big stone Any of these lows, I guess it's marked them up just because We could be looking at a down week I mean look at that. It's a lot of support around there, isn't there? I think for a bigger move to be aware of any potential trend lines in play Probably worth having a look for some To the upside obviously We're not getting square I guess you could probably have that one It's not the best trend line in the world But something just to consider if we do person then 41 bucks can come into play Having reached 40 44 almost almost that low About 60 cents to above the the high of last week um But yeah below Below the high of the 26th. There's not really a case to be bullish From a technical point of view my in my view the Dax Okay. Well, I mean look at that. What day did it hit that? It's eighth was the eighth last On monday. Yeah, look at what a resistance level and this is the thing though, you know, if there wasn't the fed I was generally of the belief that the fed was the main event And why would I want to get in an equity position before that hindsight tells me it's the right thing to do Hindsight says for the last few fed meetings. It's been the right thing to do is in hold off It turns out to be an unbelievable resistance. Doesn't it look at that? Look at that break through this area find support on our 28th of may Into the close Got a new range, haven't we, you know bullish above 12 257 back up to 500 key level now as well below here then you're looking at that You know 11 and a half thousand and then the high that we had back on the 30th of April It is to get ugly. Just be aware of some of these highs back on the 20th of May and The low a couple days later on the 22nd As well, but yeah, I'll wrap it there guys. So if you Enjoy that find it useful. As usual any questions get them in the chat But I hope you have a great trading week ahead guys and look forward to catching up with you all next sunday