 Hi guys happy Sunday, and also happy Father's Day to all of those in the UK that are celebrating I hope you've all had nice days and great weeks as well same process will run through the charts how they finished From Friday and a look ahead at some key levels for the coming days I was just on Twitter briefly a moment ago and saw the German R number Has gone from to well from 1.79 to 2.88 Based on the four-day average, so that along with Well that development along with some other headlines and we are looking at US stocks At least are gonna get down at 1% on the open as it stands at the moment So something to bear in mind however cast ourselves back seven days ago We got down and actually finished up on the week So unless there's gonna be an actual lockdown I think the downside is gonna be limited personally We'll have to wait and see and the charts gonna tell us that as well Let's have a quick look over how we did finish from Friday The euro hit my area are marked up here to the tick On 111.89 fantastic, weren't it really good really good area of Support is this gonna hold we have to to see it's a tricky one with the dollar in terms of overall Direction for this well not just this market but the dollar in general whether it's gonna be a Safe haven as the second lockdown the second wave fears come back into the market Or is it gonna be the Fed are gonna do more than any other central bank and then the dollar weakens It's gonna be hard. It's gonna be hard to say, but below 111.89 then we would be looking down to this next area along with these highs. So Would I be long here? I think I would have liked to see False breaks and maybe in the coming days. I will Prefer to be long around that area and it's just cleaning it this up a bit On the euro you can see the cup choppy. It was really on the way down and we Probably now just be looking at any of these areas. I mean to be honest. It's it's messy But above and I would probably have it more as a zone, but above this Area here, I would you know be be happy to say on a daily close that we can then push back up to The recent high that we had on the 10th of June now However below here and I talked about this last Sunday Just these previous highs that on the daily haven't come back really to get a test I'd be be looking for for those potentially to come in this week if we close below 111.89 that high That we had back on the 27th of March just going to have a look here on that weekly timeframe for for the euro and you can see Depending I think where you Where you get this this trend line on from Let's just get that drawn up roughly you can see Just how well respect this is going up to May 18 Do we just get the rejection there where the sellers can come back in hindsight? We'll obviously tell us whether it was the opportunity or not But even more so here in the weekly you can just see the importance of this level now Is this just an area where the buyers then come back in and also just be aware the high That we had on the 26th of May week as well So big area support coming up for the euro that goes and then you could be forgiven thinking a quicker move comes back down Towards these highs that we had back on the back end of April around that 110 handle on the future So euro set up nicely for an interesting week on such an important level I Would be bullish if we get some nice price action around here or be late to the party Above 1282 for the next opportunity to get long towards those highs. Yeah, but below here You'd struggle to be to be bullish for the pound it broke that trend line didn't it broke the trend line quite nicely on On Friday and had a lovely retest of that whole level We also broke this area came back to retest the low of the 15th of June So, yeah, I mean you can you can see again the 200 day moving average work quite well We came back to test that early on on I think it was Tuesday was that be the 16th 16th Monday found support on our area We circled up here then resistance on these previous loads 200 day moving average closed below the Low of the week on Thursday Bank of England didn't really deliver enough To breathe some light into the pound those lowest tons of resistance We came back down we're now below the trend line and you would say also the fact that we're below the 29th May high the next area to be aware of is that one twenty two 65 and if we do have Risk off on the open which we're looking like we're going to let's be honest I would say by the end of Monday. We probably are trading at one twenty two sixty five Which is a very key area where people will be looking to get Long or or take profit from a technical point of view This really was key for the read the rally. We had it back end of May a month ago. So back below there just be aware of 121 58 and then the low 120 80 So we still got these levels marked up below to the upside. I would probably leave everything I've got on there I don't necessarily think we're gonna test the the 200 day moving average But you know why not still have it on because it has been important at the moment You've got to be bearish where does a long come back in I would say Firstly above the trend line, which obviously gets higher as we Go along the week or weeks This looks like a quite key level one twenty four sixty seven So above these two areas, is that gonna come on Monday? I would say it's unlikely However last Monday things weren't looking too good and we finished the day positive. So time will tell Ozzy dollar choppy, but we did come lower Yeah, still on that zone isn't it where it's it's it's messy. What was the Monday the 15th you can see Pushed higher. It's worth having a note and before we'll go on to this in US equities in a moment There's the contract rollover last week. So the equities will look slightly different But you can see here. This is just a 240 of the the Ozzy dollar so choppy around there You know, there's there's times to trade certain markets and and the Ozzy perhaps is one to potentially leave alone 200 day moving average these lows here look interesting the double bottom that we had from Monday, which is also The second of June so keep a watch out for that. I'm just gonna remove everything here on The the Ozzy dollar except that 200 day moving average I think that's a good align in the sand as you can get for the Ozzy So below there then a quicker move to that 200 day moving average be late to the party You know, it's my new saying and that would be for me above the the 69 handle But that then has to be taken into account as more of a zone you would say around this whole Area here, but yeah, if we can at some point get next week above this level Then I would expect You know the higher the well I guess that's the recent highs to come in into play as well But you could see here we found a bit of support back on the 16th that Monday low if that does give way and the low Sorry the lower Monday here, but so the low Tuesday if that does give go give way that low the Monday comes in And then as we know from that daily chart if that breaks through Then it could be a clean sweep down towards the 67 hand or so quite a big move the S&P You know I like on this Sunday to review how my levels played out unfortunately, I've got to Well, this isn't how it paid out because obviously the contract roll over and you can see how we finished on the Friday we actually finished on the low of the day on the future. So let's just clear up a Few of these Levels we have to start again for the equities, which is fine Which is fine. Let's just bring in the S&P here 240 but you can see that just the way we traded on On Friday for me quite interesting that we came to this area support and we closed a bit below it I mean for me, that's still testing. You can't say it's a clean break, but Also, we have the gap down that we're gonna see on On the open so other areas certainly on the 240 to be aware or I'll just mark up Obviously the low last week This whole area more of a zone, isn't it decent enough price action? Where would I be happy getting long? Well, I don't know whether I mean the way Monday played out last week was you can see we we had that gap down and It was a close below and it's almost like you have these areas now where they're being good support So obviously access and theory resistance. So if we were to get back above 2983 That's where you know, you're comfortable to look for long. So where does that come in today or I should say tomorrow? For me, it's 3060. Can we then get back above that area and then push on? We have to see of course I think a lot of people are bearish on the open rightly so so we probably got a gap down and I would say we can We can most likely get a test of the the low of last Monday put relatively early on what happens from there Well, I have to mark up some of these points got the 2900 handle You've got some of these Previous highs that we broke through in the 17th and then suddenly, you know, you're looking back down towards these levels That seems so far away, of course, and I don't think that does happen For me, it is going to be a fundamentally driven market on the the sort of second wave Which leads to potentially a second lockdown a cynical as it is it sounds if there's not a second Lockdown, I think stocks still go higher But we do need to price in the possibility of that second wave materializing into a lockdown So stocks bearish on the open on the Monday on Sunday evening this evening into Monday expected For the NASDAQ, how did we finish on Friday? Of course similar, but tech had a not a bad week actually finished positive again, it doesn't actually look like that money to to change the the settings On that for the NASDAQ as it did finish low, but you can see here on the 60 minute war and I mean it's choppy agreed But big area of support here now if this zone goes Where you could expect a flush down like we we saw at the beginning of the week that fell obviously fell in Thursday Sorry, and then the Monday But then we had that recovery and this is what I was saying with the the S&P Get an area where the support has held. Well, we then push fuck down on the gap fine Let's get along above there get the clothes come back and test it and then we're off to the races So for the NASDAQ with the the gap lower that we're gonna see it might well be price pushes lower We obviously have to target some of these areas. This is fine But at some point we may remember cover and it's above 9915 That I'm bullish again Let the market tell you what's going on And then obviously 10,000 in the mix there as well NASDAQ above 10,000 who default that not long ago Incredible, but yet these would be the areas that I'd mark up for the NASDAQ. Can we get to last week's low? Yeah, I would say so. Can we get there on Monday? I I reckon it's a possibility. It happens early on. I think we're gonna have a risk on risk off start Just whether that can actually materialize into the whole week. It didn't last week for the Dow Jones You can see a bigger close below our support level and we'll have this as definitely more of a zone really held fantastically Thursday big reaction off that level. We then pushed higher only to come back down on Friday Areas of support would have been lovely here to potentially look for a long however, we're gonna close below interestingly now for For the for the Dow, you can see we're not far away I was just looking at this on 240 and forth for a second as a daily chart But interestingly, you can see these this is where we get down and it's the same reaction as we saw in the both the S&P and the NASDAQ let the market tell you when when to get in for these longs if you're Like me and still bullish overall Where's that place to be in and the same here above 25 708 so for the S&P we want it above here for the NASDAQ We want it above above That area sorry on the 60 looks clearer and then same for the Dow However, if we do push loads be aware 25,000 looks good than the low last week And then as we put this on to Just a longer time frame the chart obviously the new contract gets a bit messy So yeah, just be aware of some of those previous levels to the downside that could come in Let's have a look at oil. How did we finish? Got that trend line that I had on or potential trend line And it shows here that other people in the market were looking at it and on the 60 minute Just then flicking through good reaction. Good reaction break comes back on Friday five o'clock Look at that Moved a dollar and a bit higher For oil so trend line still worth having on is it bullish we're above? Yes, however It didn't quite get to our higher point there. Well, actually, what was the high? Friday in the futures I 46 yeah a lot of support below here and I know I think when we're looking at this trend line for oil if we come back below it then Especially if the risk of developed then, you know We could get a bit of a flush lower to be honest. I think overall you know it's If we have a look at what could happen this week if we do push down and I know you you're looking at this and go from 41 to 34 You know what I'm about to say is you know below 30 basically below for this area 34 86 I'd be bearish. I know it's So seven dollars away from the top end of the range over the bullish above But I'd be happy to be late to he got a good sort of line in the sand where I'd have 36 96 and You know giving that really that previous high around here then they these lows You know that would be my area if we were to find support here Then we could get that further push through below 37 on a close of the day 34 86 and me comes quicker And then you can get these bigger moves down towards that 30 buck handle where we had such good support back in the beginning Sorry the the end of May The end of May above 41 next week Just be aware of these lows that we had the beginning of March and then we really start to talk towards 45 dollars And and is that possible next week? Probably not But with oil who knows who knows but yeah, this is I kind of keep it quite simple with these There's horizontal levels. Obviously got your the trend line We had on back below there and below 30 704 was 34 86 not out the question and let's have a look at Gold finished last week bang on this next level didn't bang on that next level Doesn't make it easy to it to decide whether to go long at the open or not What interestingly Monday we We we had a down day so it acted and let's go. That's a 60 minute to stop Monday Let's want to see exactly how we How are we reacted on this Monday at the 15th? Yeah, you can see here with stocks pushing Pushing down gold also came off So to predict what's going to happen at the open here on gold With that move lower in stocks. We might well see this this area hold However, it is of course, you know, let the market tell you what's going on and 60 minute You can just see how important this resistance level is 1760 so above there obviously just be aware of these these previous highs here this area where before we broke down back on the 18th Of May and then you're really looking towards some of those Highs of the year to come back in again. I was saying to the interns on the summer interns on I think it was Wednesday or third Thursday it was That gold is range bowed and and don't let anyone tell you otherwise It is you know going back here to the 14th of April to two tests at the bottom two of the low We're above that sort of mid-range point here that that held well last week We're now coming up to another resistance level, which we've just seen is very key But decision comes really bigger term, you know once these these points go so for gold I want to see how it opens on on Monday, but going back to that 60 minute and you know really sort of drawing up this resistance level up here, you know along above here towards 1770 and 1778 it makes sense Back below there, then it could get you know choppy again like we've seen Trendline on here has held very well from the low of the fifth Low of the 15th low of the 18th So just when sometimes you feel gold is going to go and go and go You know you get a rejection of these highs back below the trend line and see you later Yeah, we'll have to wait and see for that for sure Let's have a quick look over the DAX as well how we finished on on Friday on that 60 minute Doesn't look too promising when you also know we're about a gap down We're gonna feel this little gap that we had on the 15th to the 16th opening So we'll probably get open, you know around Well below those lows and suddenly you're looking at last week's lows coming in relatively quickly in what was Pretty sideways moving market last week. You can see here held up on Friday, but with the the gap coming below Yeah, you've got to be bearish on the open but that said just like equities You can get long if we come back above there. That's the way I see it, you know But you know when we push lower obviously these Areas where the mouse is turns to resistance if we do get above there That's your signal that the buyers are now back in control and you can push on for the balls But yeah expect the open to to have us pushing lower and then we'll see how you react in the morning Is the way I would say it but any questions as usual guys Please do let me know and I hope you all enjoy the rest of your evenings or if you're watching tomorrow I hope you will have a great week ahead as well. Thank you guys