 Hi guys, happy Sunday. Hope you're well. Welcome to the weekly trade setups video We'll go through the markets one by one Starting off with the euro before we get through to the equities and some of the commodities as well I think worth starting on the weekly chart however for a couple of these dollar pairs You can see the euro Rejecting this long trend line from 2008 where it started the pound Rejecting for the fourth week in a row the trend line from 2018 highs also hitting really the 9th of March 21st of Jan area of resistance and coming back below and the Aussie very similar trend line on but we close below After looking for all money for the whole part of the week that we're going to finish above Not the case the euro on the daily how to look at this now I mean we finish pretty much bang in the middle of the recent range that we've had so in terms of Straightaway price action on the on the Monday. I'd be cautious. I'd be holding off I'd expect certainly having a look at these finishes for the euro the pound and the Aussie that we do see some dollar strength Into next week But worth and reason for that is obviously that the fallout from the fed no new dovish information But also the end of month, you know, there's been a couple rumors that I've read of some dollar buying So maybe that can materialize and we start to see a bit of a drift down that said You can see really the bang in the middle of the range that has to go that has to break And then we can start to see a cleaner move on the 60 or put on a 240 minute You can see this is where that sort of fallout from the fed started We've been pushed down in early trade continued after the minutes We did recover a bit the next day only to then Strengthen on the dollar side of things into the Friday close now. I would probably know this is that sort of Line in the sand that I would have now for the the Euro dollar good bit of price action around here It's almost like my guide above there Then the dollar maybe isn't ready strengthen just yet and we can drift back to the top of the range If we come in here and it holds then I wouldn't be too surprised to see the low of the range come in as well So that's kind of how I would have that on the daily Really, it hasn't done too much because it can't get out of this range that it's in so the lines below and above I'm not really interested in changing, but that sort of 1 18 31 area is called a zone is probably where I'd be focusing most on Given the the importance of that area just in the lower time frame as well But yeah 117 bottom of the range be interesting to see what happens there break below just be aware of these previous highs I think a healthy little correction lower or move lower would be quite nice towards that 115 for some longs ahead of the the Fed Meeting in September the pounds moving on Let's wait for that to load up of course these charts again not not tested since not tested not edited since last Sunday You can see just how messy it was around here couldn't get above obviously got that trend line that we know on the Weekly rejecting this whole area. We're now back below. Keep a watch on the 130 hand a 129 82 that's gonna be real important because below there I imagine you get a quicker move and then you start talking about this trend line from the lows You start talking about the 200 day moving average and you can get a quicker unwind That's gonna be an important level one twenty nine eighty two I go as far as saying that's gonna be the most important level and area to keep a watch on I think that the move from say the 130 to 128 would be a pretty quick one However, if that holds and we start drifting higher, I mean, it's put this on the 240 you can see our you are We are getting quite a key area of support forming on these lows around 130 76 We finished above, you know, the balls will be happy with that However, just how we finish on the weekly charts It wouldn't be all surprising to see a drift lower below there in early trade Then we can get to the 129 82 and that's when you can get that unwind these levels don't break And then next thing, you know, we're up at the 132 handle again We're above that weekly trend line and maybe be start to talk about this is the week We finally break it to the upside and we push higher. So things are set very nicely I will Based on how we finish the week like I said, I think we're gonna get some dollar strength those are the levels that need to go and If we are to break these say early on the Monday or Tuesday and we do get some month and dollar buying That's when you can start to see 120 at 51 in the pound. That's when you can start to see 116 150 would be a too big a move, but the journey begins towards there However, those levels of jets and we finish back on those highs That will be equally as important because we then clear this whole area and then people start looking at 122s 125 in the euro for the pound back to the election high at 135 and for the Aussie dollar it can maybe look to hit that high that we had in December 2018 around 73 87 moving on to the Aussie Much like the other dollar pairs. It's choppy on those Well last few days of the week, but really for a couple of weeks. It can't quite get above That's 72 50 in the Fed minutes It almost feels like if they weren't there or if there was even a hint of dovishness We would have continued higher sort of put things in check a bit looking at this now Let's have a look and see if we can get some sort of trend line on here That's nice. Got to have that on here This is starting on the 3rd of August nice little push the 12th And then the double bottom area from Thursday and Friday keep a watch on that because the market is as well So break of that and that's where 70 66 could come in of course using some of these Levels around the 71 handle and the low of the 4th of August as well as points to de-risk in that trade moving this over just to Encapsulate some of this price action from 2019 and 18 you can see there was a lot of resistance around to that high that we had last week didn't quite get to the 73 handle and the higher the 15 February 2019, but it's going to be one to keep a watch on you would say Just remove that text but the story of last week was it started relatively well for the Currency we pushed higher really from a nice finish last week Or the nice week last week. We just couldn't when it came to Wednesday materialize a push above these These big trend lines and the dollars are strengthened. However, you can certainly see the Ozzie has big support on that trend line the pound as we know he's got a lot of support around that area that we had on The 60 minute which of course would be 240 around 130 76 and the euro As we can push this in it has got a very big support level around 117 However, that looks like it is the one that's perhaps going to start more on the stronger foot for the dollar Consider it's broken a key level and finished below there on Friday false breaks are obviously very key for these markets And it hasn't been a sellers market as of late. Are we going to see this materializing to the end of the month? I would say so I would say so that said can then the S&P Push on with this dollar strength. It was certainly hindering it was certainly hindering Wednesday We saw the dollar strength scenario where gold dollar pairs came lower and the S&P did However, the Thursday and Friday reversed that whole move and we're very very close to the all-time high That we had back in the end of Feb. I think it almost reached there on the Wednesday and the Friday Looking at this on the daily Let's just remove a couple of these arrows just to go over the points because there's no need to draw on new Lines really below it hasn't come into an area or a very key support. I mean obviously you can mark up this Low that we had on Thursday 3348 that's now obviously work having on the 200 day moving average 3321 looks key I quite like the 3300 handle Just getting in some of this sort of gap feel this whole area Between 21 and 84. I think would be a nice place You've also got the 200 day moving average in there as well for the S&P. So any pullback towards here I think would be nice the FOMO Rally higher above the all-time highs. It could it could well happen. I wouldn't be chasing it personally as as such I'll be more waiting for this to come through Ideally we do find a double top here and push lower to get in a bit And we'll get an opportunity to buy lower down I think that would be the way people potentially would be looking at this But trade what you see and if we do break that high and you know the stock really does have to be just below the previous All-time high you can see if that runs But with this dollar strength just bear that in mind how much further can it go one market that doesn't really care about any dollar strength Is of course the NASDAQ you know even if the dollar strength as this market seems to be more of a safe haven now then Anything else and that's finishing on the highest it's ever been Trend line keep an eye obviously on the 21 day moving average if we come back down to 11,000 handle That looks a fantastic area to get in long. That would really look like it has to happen before Wednesday Keep a watch on your trend channel. Keep an eye on the previous high 11,000 272 But this is what you would potentially see in the S&P that previous all-time high break through Come back to find support and push on 3399 and three quarters same reaction higher Retest and go that's how I would be looking at that there the NASDAQ is in a league of its own And I was you know, obviously having a little joke about it being a safe haven But it's kind of what it is at the moment, especially with those big fang names doing all so well Yeah, the Dow Let's just show you it didn't really come down to this area last week I would have absolutely had a bit of that with the trend line with this previous area support Now if that comes in It's it'd be a break of the trend line and that would make me just a bit weary about it But still a good level. We held above importantly We held above the ninth of June high little false break as we know they are quite key I mean looking at the chart I mean you could you can have a little basis that we failed to get a new high in the S&P So that's not ideal But the fact that the Dow finished back above this level and the S&P finished higher after Wednesday's move lower and then NASDAQ is on an all-time high. I'm still confident these markets can push higher It's just whether that dollar strength starts to weigh on things at all and on the flip side If say the Dow gets back above 28,000 if the NASDAQ, you know And that trend like it's going to be some nice resistance to fair But if that continues to push higher the S&P makes a new all-time high and we have risk on Those dollar pairs might want to push higher as well So just just something to think about I mean from a dollar strength perspective You'd like to see the open on Sunday or tonight move us lower in equities The NASDAQ finished Monday below its previous high that we had on Thursday and that could lead to the dollar strength The correlations are there It's a tricky one to want to be short these dollar pairs and long equities at the moment because if you've wanted that You've kind of been burned really. I mean, it's beyond. It's the the Wednesday was celebrated like it's a return of the dollar But look where it's come from Really from from those March lows, so it's not get to ahead of ourselves I expect a bit of dollar strain and That makes me confused a touch on whether expertise can go higher. I You know, I do think they do Maybe just not right away. I'd like pullbacks in all markets like 32 84 in the S&P I'd like the trend line here in the NASDAQ. I'd like the Dow back towards 27,000 The euro is mentioned to 115 116 the pound back down to 128 50 And the Aussie dollar down to the 70 handle that would be healthy and it wouldn't really be for me I over the start of a big move lower Of course if those levels break through then it is but you know, that's how I see things Just going back to that Dow levels obviously to the upside just be aware of the sort of double bottom We had 8th of Jan 31st of Jan above there is a cleaner push and we start talking about that gap feel Gold to remove some of these arrows just to clear things up Tricky one for gold. I mean it Obviously that's that Tuesday move lower. He's put this on a cleaner chart. Here's a better One let's just remove it. Yeah, we had that Tuesday move love You remember that then turns a solid resistance level. We then came down. This is the Wednesday With that dollar strength turned out to be the low The closing low of the week there so mark up that for sure that Wednesday low below there And people will start, you know, thinking about this market coming lower again intraday Sort of line in the sand for the week. It's a bit of a zone. I would say for me now Let me just bring in This rectangular area you see here. We've got these nice lows from the fifth the third and the fourth High from the 13th the low that we had on Tuesday That's an area where the buyers want us above the sellers will want that below I think we do get a test of that and then it's decision time It's decision time good little finish for the for those that are more bullish gold In short term to close back above the the third Wednesday Thursday double bottom That's a nice little reaction there. You would want to see price push towards here And then it is decision time. Let's put it on a 60 minute here Let's put those pivots on as well and you can see there that is that reaction from the Tuesday area support comes in finds No, sorry, this is the Tuesday area support finds some strong resistance on last Tuesday And then the Wednesday dollar strength that we saw but yeah, if we can get back above sort of 1985 Then gold all gold balls will be pretty happy That said, you know, you can start to see maybe a bit of a head and shoulders Forming on the 60 minute here for gold. So if we are to then get back below last week's low That's when you're gonna start to see some more dollar strength And I think if that happens again, for example, if we close below Friday's low, then I think 1850 comes in relatively quickly that would help the dollar side of things there So the euro the pound and the the Aussie to it to push lower. We'll have to wait and see Oil it means make sure that is the 21st is I say this every week now. It's such a boring market, isn't it? It's it's not doing anything. It's not doing anything. It's it's waiting for a bigger move We said last week those who got short 43 43, which was the low of the second of March You'd be you'd be happy with that still as long as price that doesn't go above it hasn't it's Let's just put this on the weekly here. I mean look at those weekly finishes. It's It's boring out there nothing really happening But you can see why and this is exactly what we said last week, wasn't it? You've got the sort of the weekly close of the 24th or 3rd there You've got this weekly low that we had in December 2018, which is also making this even bigger level look at this going back to 2017 2016 and even before that in 2015 and some drag it all the way across it. There's anything else in there Not quite, but you can see the importance and that's why you know so but it for the move to happen towards 50 bucks Which I've said many times. I think happened Above 43 90 that's a lot easier So just keep a watch on that a lot of area support below. I still think it's a by-the-dip market In this it just might be so look at the lights nice new trend line on here Confirmed on Friday, so keep a watch on that below the trend line doesn't look too good And you're back towards for $38, but I think that could be the opportunity to load up again for the oil longs That said good reaction push above 43 and then we start looking at 45 Then we start looking at 48 and 50 dollar handle as well So it's set up nicely, but I can't promise you fireworks at the moment for oil Silver Just like gold isn't it, you know, it's got that sort of Tuesday to Tuesday retest finished below But then rejected this area support here solidly to the tip So leave that on above 28 on the daily close back and then we look back towards 29 And 30 handled below this sort of finish that we had last week or at 26 is I'll just be careful because You know, I'd be saying 24 and 23 come in again that we saw in the 12th or August So yeah, just keep keep a watch 26 to be the line in the sand Below where we're trading and above Just put this again on the 60. You can see the importance of the Sort of area support here. I probably have it around 27 60 27 80 maybe just as key As as a zone to keep watch on there the decks I mean we said when the trend line broke it was it was a bit unfortunate But this is this is good to see in that we have to break fine Then you get the faster moves, but like if we are to see a trend line breaking oil The dip is bought if we are to see The dip has been bought in the doubt if we see one in in the In the down in the Dax if we see one in the NASDAQ we're still getting buyers come in if we see one In the Dow, we're still going to get buyers come in based on, you know This appetite that these markets can still push higher the footsies were covered a touch and and there was a question last week Can I look at the footsie? Um, and you know next week I can I'll start bringing in on another platform It's just that on this particular one that I don't have the data for For the footsie, but yeah the the the Dax now it's back above 12,500 to key And I said drag the This area support over to still have it on we finished pretty much bang on my my sort of line in the sand But we rejected it false break equities for me look bullish Um going into next week It's just whether the dollar strength hinders that or the flip side equities get some risk God and these currencies go higher. It's set up nicely. I have to say In terms of you know, it's not although equities look good, but it's not a buy at like market on the open I think it could still be relatively choppy and of course that's the point. It's it's the August It's that summer season. So volume is lower, but um, yeah back above 13,000 and really the high that we had on the 12th That's how I would look to play this targeting then the highlight we had on the 21st of july and the gap fill But that's it to the flip side below this uh, this close that we had on friday and you can see just how Uh clean this area support was and the false break. That's one one more bullish for the week if we do get say below There then uh, yeah a run down towards that 12,500 hand or again could be Worth looking out for Anyway guys, hope all is well. Hope you will have a great week as usual. Any questions get them below Myself and as you can answer these as and when But yeah, I think to to wrap it You've got some some key rejections that we had from friday for those dollar pairs doesn't look too good equities Recover very well from that wednesday sell-off if you want to call it that that we had they look more bullish Something's got to give summer season silly season. I have to wait and see