 Hello and welcome to the CMC markets Monday market webinar with myself market analyst Today's date is Monday the 6th of November. The time has gone just gone at 12 15 p.m And as always with our webinars I will start off by showing you the risk warning up the slides on our on the screen here Have a quick read you through that. There's a few more slides to go and then we will proceed on to the webinar itself It's very straightforward the risk warning it essentially states only that we cover in today's webinar Should I be construed as explicit trading or and or investment advice? It is just merely me giving my own personal views and opinions and comments on what's going on in the markets It should really be construed or viewed as explicit trading and or investment advice this just kind of a it kind of a free exchange of ideas and That will keep our compliance development very happy But it is straightforward and it's the usual rundown set up with the webinars that they hold every Monday at 12 15 London time it is usual set up whereby we run through what's happened over the weekend We talk about what look at the major events that could shape the trading week ahead of us And then of course I go to the major markets popular indices Popular currents popular currency pairs popular commodities as any market that I haven't covered feel free to give me a shout Just type in the chat box and happily Talk talk about Happily kind of comment on the markets that you want me to comment on towards the end of the webinar at the very end I'll show you a few bits of pieces on our website about what you look out for in terms of news information and analysis Now that we've got in the risk warning But out of the way we can know as she focused on the what's been going on and trading in the trading Trading on Monday To be honest not a whole lot. It's been a fairly quiet start to the week We've seen essentially a bit of profit taken on some of the European equity markets The footsie hit is a multi-month high last week This is the major south and sterling on the back of the Bank of England, but they put a very internationally focused what's your 100? very relatively cheaper to buy and then I pushed the footsie on To multi-month highs across the English channel in the Eurozone what we saw is both both the German Markets the decks and the CAC 40 in France his record highs last week. We also saw Be decent moves in the Italian market But we did see the usual political uncertainty out of Spain, which is obviously natural. What's going on there over the weekend the ex Catalonian leader president Catalonia Charles Pudamon Handing himself into Belgium authorities. I haven't seen any kind of additional updates on that a number of Catalan politicians who remain in Catalonia have been jailed All right, I've been arrested at the very least This is your situation is obviously comes the ongoing in Catalonia But while we haven't seen a whole lot of oh how why we haven't seen any really negative news coming out of Catalonia In relation to the backlash or the reaction by the Madrid government We haven't seen any huge sell-offs in the Spanish market in the Ivex 35 on Thursday and Friday We saw a couple of we saw some banks downgrading Some Spanish banks being downgraded on Thursday and Friday, which caused a bit of a sell-off but nothing major I've given especially in relation to what we've seen recently In the Spanish Ivex they were relatively small moves But some of what would they consider the Spanish Ivex which people should be coming a couple of minutes It has been giving up some of the gains made in the last a week or 10 days Taking a look now to what we can expect over the next few trading sessions as always afflict through the major highlights I can often measure where you can find this. I'm sure you all are because you tune in regularly to the webinar But if you go to the CMC markets, CMC markets website under news and analysis Click filter by third option down is the weekly outlook This is posted a website every single week gives a breakdown of what to look ahead for In the coming trading week. So coming up today, we've quarterly figures from TripAdvisor Looking ahead to tomorrow with the Reserve Bank of Australia the Orbea of their of their Have their interest rate decision rates are tip to remain Unhauled at 1.5% On Wednesday, we have trade numbers coming out of China in the early hours of the Wednesday trading sessions So if you are trading that keep an eye if you are trading mining companies keep an eye on What's going on China China's major import for raw materials any signs of their economy is growing rapidly or Slowing down kind of a big impact on the metals market Looking ahead to your Thursday with numbers that coming out from Burberry Which are also kind of Chinese related in that the kind of growing middle class in China is very keen to import luxury goods from the West and Burberry is on that list of the completely Diageo I've done quite well over the last number years of the of the more affluent mid-income earners in China What we also have on Thursday is an update from Sainsbury's the British market Well, we'll have the numbers coming out on Thursday and also on Thursday Macy's the kind of high-end The Macy's the retailer in the United States. It's also worth keeping that up for this This particular Section of the website would give a break breakdown of the dividends For the various different indices Okay, so do see a different adjustment on your account It also gives more deep detailed version of what's coming out in terms of corporate act of corporate earnings Which we didn't cover in the highlights associated British foods owner of primer They got they have numbers coming out. I'll do it in period of brands Tobacco company as did Mario hotel. This is all this is all tomorrow and Tuesday referring to snap up numbers coming out tomorrow as well Looking ahead to Wednesday the 8th of November black rock capital and that black rock capital investment major fund manager in the US They've numbers coming out third quarter numbers M&S Marks and Spencer's half-half year numbers coming out In the UK bearing in mind their head of the Bay head of clothing division resigned not to that ago That was a bit of a shock announcement Basically the usual run run down for that seven years of M&S is the food division has performed quite well But the other section which includes things like clothing clothing has also been relatively underperforming And when we saw next had some not so hot numbers and they and Not to Polish outlook Not too long ago only last week sell off index also put pressure on other retailers and M&S because of it Reasonable size clothing department. They also were hit on back of that as well Turning our attention to Thursday as I mentioned Burberry have numbers of half your numbers out as do also trader and all on the AstraZeneca the drug maker up numbers coming out as well on Thursday Scrolling down half your numbers coming up and hard friends as well And as I mentioned in lip as I mentioned already Macy's numbers coming out as well on Thursday So I'm turning our attention now to the major markets first off the bat as always will be the footsie one hundred So as you can see here broadly speaking of a specific truck 2017 We had a few decent corrections, but broadly speaking the the the footsie has been pushing higher And as you can see here the movie referring to the multi-month highway in Friday there I traded a high of seven thousand five hundred and eighty bit of a pullback in today's session But we're not too far away From from the multi-month high here and also let's be honest the all-time high at seven thousand five hundred and ninety nine So we're currently trading at seven thousand five hundred and fifty five So we're less so we're talking about 60 points away from the record highs of the song So the disconnect this this positive move here We've seen since late October is still very much in in in in place that the positive trend We can see here look at the MACD indicator on the momentum portion of it. There's been a sharp Decline in negative momentum which could potentially turn positive and should that be the case that would confirm the kind of upward move Should we see it? So the negative momentum is dissipating So it could be a sign the the the momentum is going to be with the bulls as we could see here We pulled that ever saw slightly from Friday's Multi-month high, but if you look at this part of this candle here This was Thursday at the the rally after the back of England the top ish hike from the bank of England and they send starting lower So the sentiment is like quite bullish On the on the UK one hundredth the Foxy one hundred So if you do see a bit of a pullback, we could find support in round It's at seven thousand five hundred level or even even if you do push lower We could see some buying come into play in this price area here which comes into play in around seven thousand four hundred and twenty five Notice how Not only is there we have a couple of couple of candles here which had support in run that area But it also got a coincides about the fifth of a moving average and also the one hundred a moving average I notice how the fifth of the moving average acted nicely at support here So we do have a recent history of the fifth of a moving average acting as support So should you should we see move down here? We can also see that wouldn't be necessarily a sign at this part of tennis coming to an end We could we could see some buyers enter the fold But by and large the the positive outlook is still very much in place. So heading towards set five thousand seven thousand five hundred and 80 would be the next level to watch out for to the upside should the positive move resume and then north of that The all-time high just shy of seven thousand six hundred Not to do too dissimilar with the the Germany 30 attacks So as you can see here I had a quite an impressive week last week snap had a gap tire This could potentially be what's called a runaway gap Which are often found in the middle of a trend trend has been very very clearly positive as we're creating Fresh all-time highs all of last week since ever so slightly kind of pull back But the but the but the but the the outlook The positive outlook still remains in place for the for the Germany 30 for the back So if we do see any pullbacks, we may find support in around this price area here of 13,400 or we could even see potentially possibly the market turnover on itself a small bit go down here fill this gap here Which should be comes into play in around? 13,000 316 down to 13,200 and fifty six Before we potentially resume the wider upward trend now one of the one of the myths about Gaps is that they always get filled. They don't always get filled. They often get filled and When a market gaps higher that the gap then if a market gaps higher pull aside the market gaps lower it's a bearer sign and That gap then will actually act as in this case support because it's a it was a gap higher So that that this area here could act as support So if we do see drifts lower here We may see some buying coming to place at these two levels which I just mentioned here But the wider trend of positive trend is still in place So as well as with one possibility We could see a bit of profit taken the market moves lower Fills that gap and before it was out to resume the wider upward trend Notice how as the market was kind of failing to kind of make a Decent a decent additional gains per day the gains it made per day were kind of minuscule We did see a slight kind of cooling of the rate of change of positive momentum But still it's still a very much on the positive side So I suspect we are going to see a continuation of the positive move in the tax it's not too dissimilar on the France 40 on the cac as we can see here market push higher hit a record high only last Wednesday I'll be training a very tight range ever since then. It's ever so slightly worrying that we're seeing a decline a positive of momentum and the maxi indicator here the Slide pullback in price is confirmed by the slight decline in positive momentum Who knows that may even swing to the negative side like we saw here But if you do see moves lower things were coming off an all-time high that could potentially just mean we may see a bit of profit taking But we also could potentially find some some buyers or some support in around this price here the previous all-time high 7475 or down to this the recent low here from the from late October at 7463 so that that kind of 12 or sort of 15 point range Maybe an area whereby if we do see a pullback that could be an attention area whereby buy and fresh buyers may enter the fold But nonetheless, we're just up all-time eyes So the price is the most important thing to look out for since the Polish Sentiment is still very much in place looking to the upside. You're looking up towards 5600 will be the next big level to watch out for to the upside It's only if you move say well below this area here because of the October low of 7537 then you may want to consider kind of that could be a sign that we could see and this is a substantial Turned around in the price of the of the France 40 Taking a look now at the Spanish 35 the ibex You'll see that what I meant or by the market gave up some of the gains that I had that I made last week So throughout the summer months It was in a clear downward channel and it was this was it was well in place a long time before Situation in Catalonia really kicked off bearing in mind. It was the it was it was the the first of October which fell on a Sunday is when the cattle up was the Catalan referendum is held So it was an adult a clear downward trend well before then When the situation started to kind of cool a bit of things didn't look as if it's going to end in Iniquity we didn't have any repeat signs of We didn't put whenever the majority of government imposed direct rule and Mr.. Qdemon fled the country around then is what we saw the market snap higher a Pushed higher And it kind of broke out of the downward trend that has been in but ever since then since Last Wednesday has been giving up has been giving up the ground and no It's how the market trade is low as where that where the where this Resistance line is now acting a support old resistance is not acting a support We're pretty much trading down as far as here Which also coincide with a fifth of the moving average at ten thousand two hundred and twenty seven so I Suspect this could be an important price price region to keep an eye on for this could be area By the profits taking that has cut into place here may just be looking to give up some of the gain before it pushes on higher again I got to create new multi-month highs, but it could also be a point if you make a size of a break below it We could see his head back down towards this prairie price here in early October at ten thousand one hundred And then south of that the October low at ten thousand eight hundred and sixty six I think this is sort of kind of a Life-age scenario if you do see a bounce off from this area here at the one the fifth of the moving average Which also coincides with the the old resistance still the old trend line resistance They're actually potentially acting as trend line support We could be looking back up towards ten thousand six hundred the recent high and then north of that the August high Keep an eye out for at ten thousand seven hundred and fifty eight And then look towards a couple of a couple of highs in June Ten thousand nine hundred and twelve and ended the tune high itself at ten thousand nine hundred sorry eleven thousand and forty seven So I think we're in a bit of a doer potentially turning point or pivot point here for the ibex 35 Notice how as the market was pushing higher that it was confirmed by the MACD indicator the momentum component that was increasing and now we're now we're seeing a Kind of clear decline in positive momentum So momentum is the it's the with the but the buyers but it's kind of running out of steam But that runs our steam just leads to fresh buyers coming into place at a lower price Or whether we actually turn negative and actually break down through these levels here that has yet to be seen The it's turning our attention now to the American markets which are in quite an impressive Quite an impressive bull run and we're seeing no real signs of that being of that coming to an end This is the doubt The Dow Jones looking at here clack is example of a market trending higher Whereby the market just goes on to create higher highs and pull and we have the odd pullback And we see some buyers entering them and the market continues to be higher So buying on the dip has been a very popular strategy for traders on the Dow Jones over the last number of months If we do see any pullbacks, you may find support in this price area here at 23,249 or south of that in around the kind of 23,000 figure itself And then below that maybe that down towards 22,735 or the fifth of the moving average comes into play in around 20,634 these are all areas you get to HG find support Should the market have a reasonable size pullback, but it's it's it's because it's it's the How much risk do you want to take on if you do you want to wait for a pullback? I potentially get in the market at a better price But then again the market made a pullback and they just keep pushing on and it's been several occasions But the market has just pushed higher without really taking a breather. I Will say this though at that as the market is going on to create all-time highs. It is a bit concerning that To looking at the MACD indicator on the momentum side We can see at the histogram here that it's in it's ever so slightly in negative territory of a new kind of market going higher But yes, but the but the negative momentum is actually rising. That's called diversion to go in the opposite directions Ideally you want you want to to confirm each other while the market's going higher positive momentum is increasing I want the market's coming lower. You want you'd like to see negative momentum increasing Price is the most important thing you should be looking out for a market's hitting all-time highs That's what you really got to focus on. But if you're already long just be careful because this could be a nerdy sign that We were in we're in line for a correction And if you watch your financial TVs, you can see here all the time talk about talking about when this When is this this bull won't go to come to an end? And this is the sort of thing that could be given early warning sign that a market is coming to Then a market correction is coming around And if you do manage to kind of keep pushing higher because we're in kind of uncharted territory I said we're traders are going to be keeping up for big psychological numbers like twenty twenty three thousand six hundred seven hundred eight hundred so on and so forth The S&P 500 looks fairly similar not Unstoppable appears to be unstoppable string of record highs and even more more obvious kind of a classic example of a Higher high and then higher lows all the way along and for the last Five or six weeks there hasn't been really much of an opportunity to actually going to get a board Wait wait get a board and you're waiting for a dip. We have seen a few opportunities. So Look at the price action here. The price is clear to the opposite the markets go higher So the sentiment is clearly to the upside Seminar next got a big level to watch out for is going to be 2600 and then you know beyond that two thousand six hundred fifty and seven two seven and so on and so forth But if you do see any kind of pullbacks, we may find some support in around here in a 2560 or south of that 2544 are down towards 2531 These areas you potentially see Some support should we see the market actually pullback but bearing in mind if you're waiting for a pullback in October You may there may have been only a couple opportunities to actually get it get a board Get it for the market itself Well similar situation and even more so on this chart as the market is going on creating fresh all-time highs here This is what I'm talking about when you sit new when you're like why keep an eye on the maximum indicator The S&P 500 gap tire here pull a sign without to create a record high Well assigned as you can see here that was confirmed by the steady increase in positive momentum on the histogram here It's increasing increasing. What do we see here? We see the market? Pull back ever so slightly and then on the MacD histogram We see a decline in the rate of positive momentum So that was a sign that the bulls are running out of steam That could be the early sign that if you are looking to get out get on the market potentially look to search Keep a layoff of potential entry points because it could be a sign that the the bulls are running out of steam Has a bit of has a bit of a breather and that kind of resumed. It's positive upward train What do we see here confirmed by positive momentum? But from around here onwards it is a bit concerning that the price from this point onwards from say Monday night October a few weeks ago continues in a kind of upper classic upper trend but positive momentum Slides and slides and slides and actually even swings negative and it remained consistently in negative So there's been a clear divergence the last few weeks So this is what I mean about how the price is more important than the MacD indicator because if you were going up the MacD Alone You'd be losing money or you'd be stopped off by now if you're keeping on the price You can see the markets moving moving higher But also notice how the rate at which it's ratcheting up new records It isn't really that high. We're at the major ground being made here But we see mitt ground being made nonetheless. So could be a sign that we may or we may see a pullback in the in the S&P 500 Turning attention now to the the gold market Gold has had a bit of a quiet Very quiet issue on the last few weeks It's been trading in a relatively, you know, relatively tight range at the gold market as it's been Relargy dancing around The 100-day moving average which comes to play at 1276 I've gone maybe haven't really gone 10 dollars above or below in a while now but over the last few so the big picture and gold is Broadly speaking, it's so the markets pushing higher But if you look at it here it created a 13 month high here in September And then the markets sold off heavily had the bounce back sold off again And also not at the market is kind of figuring out which way it's just in sideways consolidation mode here And it's as a sentient as I said, it's very very closely anchored to the 100-day moving average in around 1275 1276 So I think gold could be at one of those kind of key moments whereby You'd like to see a move in a certain direction before you can get a clear take and where it may potentially go from there So looking at the downside because the trend of the last five or six weeks has been to the downside If you do break south of the well in around 1260 1261 where the water the tour day moving average comes into play If you go south of 1260 1261, we could be looking back towards Mid-July level of around 1230 and then south of that at the July low of 1204 to the upside if you do get a decent break to the upside We like to see it take off first of all the October high of 1306 and then you can become more confident that they can a wider upper trend is still intact and then north of 1306 levels to keep potentially Which could potentially active as resistance would be 1316 north of that again 1334 and then the September high of 1358 which also coincide with also at 13 month high Silver is that too is looking the chart and silver is looking reasonably similar As you can see here different story that silver was kind of losing ground for the early early part of the year and Now it seems to be similar situation where by water and a moving average in around this price here here of 16 Spot 87 seems to be seems to be acting as a kind of a magnet for the price of silver So it's kind of the market trading at a tight range is it going to break the north is it going to break to the south? To make the indicator and hop on histogram isn't really telling us a whole lot It's sort of flickering between positive and negative momentum and there's no real kind of clear direction on either There's no strong momentum in either side So if you do move to do move to the downside and silver if you take out this level here the late October low at 16 spot 60 that could be kind of setting us on a track down to the October low itself of 16 spot 33 And then south of that we potentially have a support will be enough this is this price price here at 16 spot 13 And then south of that we've been looking towards a July low the the loaf the loaf of 2017 at 15 spot 06 But conversely we were seeing a lot of converges between the fixed a moving average and the water to moving average both Coincidentally around the same level at 7 17 spot 1 8 Now should we take all that that price there that could be a sign that The momentum is swinging to the pop ups upside And then the first level to watch out for beyond that would be the October high of 17 spot 4 6 and then north of that It could have a level that acted as support And also a bit of resistance in September was 17 spot 6 2 and then should we take our 17 62 17 spot 6 2 and keep an eye out for the September high of 18 spot 2 1 The energy market continues to press higher and higher Looking at politics in Saudi Arabia the crown prince of Saudi Arabia is looking to is looking to get a crackdown on certain members Of the of the royal family and the Saudi Saudi Arabian regime government that he could deems that it in his in his eyes would be would be kind of involved in potentially Actions that are going to look into damage reputation of the state On the back of that the the crown prince who is his previous the express is his his fit is His support for the OPEC oil cuts production cuts He is the traders know respect that Saudi Arabia could be looking to potentially extend the oil cuts beyond the end of March 2018 This is this has been speculated on again off again for quite some time But the sentiment in the market is is is there they're concerned about the about the oil the OPEC's coordinated production cuts remaining in place and at the herder pushing north and the market is heading hit a Level not seen in over two years. That's a nerve to keep an eye out for look at It's even now traded as high as it's 200 week moving average A level we haven't seen the price of Brent at this level since June well mid June 2015. So we're talking about a 28 month a fresh We're selling it in 28 month highs. We're talking about a fresh 28 month high for the price of WTI This is going to be a big level to watch out for here I think you got a close above this is to be quite significant on the 20 moving average which comes into play on the price of Brent at 62 spot 88 so we're not to we're pretty much at it. No, so can we can we go north of that? And if we can go north of that loves to potentially watch off or to the upside will be in around here Six six thirty three and then north of that again would would practice to take us back to the May 2015 high of 69 spot 23 Looking to the downside Flip to a daily chart to keep an eye out or level secret agencies some support 62 dollars a bar could act as support to the downside and then 60 dollars a bar on itself and then down to the September high of $59 and 51 cents These are every secret agency support bearing a mind The upper trend that got that's a dog that Brent has been in for a few months now. It's very much in place for hitting fresh Multi-month highs 28-month highs. That's really what that's an event that tells you all need to know which way the sentiment is pointing to As you can see here as the price is pushing higher the the MACD indicated on the on the Instagram was gaining ground So the higher moves be confirmed by the positive the rise in positive momentum Looking now at WTI it's going to be a similar chart not as aggressive as WT as Brent But still along those lines as you can see here the market has pushed higher Similar D hasn't quite gotten gotten to his 200 week moving average So that's going to be the next time pick level to watch out for for for WTI $58 and 58 cents 50 a 58 on WTI if Brent has gotten there It's been a bit of a lack between the two recently But if Britain's gotten there it's possibility we can all to see WTI getting there as well Notice how as Mark was pushing higher the MacD histogram positive momentum was steadily increasing So the positive movement and the price has been confirmed for the positive positive move in momentum as well As you can see here, there's been some sizable pullbacks in the price of WTI over the last few months So if you do see a pullback we may find support in run 55 bucks a barrel South of that just just below the $54 a bar a bar level or even down towards the $52 and 53 cents I'll run through a few currency pairs now The main currency pairs and then I will just briefly show you a few items on the website Where we have news analysis located. Does any markets? Starting QB. Yep. Sure. No problem Michael. I'll go around that as any markets They want me to cover but I haven't covered yet Feel free to stick them in the chart and the chart in the chat box and I'll get around to doing them For those of you that that tuned in last week We talked about a head and shoulders formation on the euro versus the US dollar And I show you a quick textbook example of our head of head and shoulders formation looks like So I've taken this from Investopedia calm head and shoulders reversal pattern as the name suggests it's a reverse Reverses the the previous move Reverses the previous positive move and this is essentially what what the chart looks like the market rallies to a fresh high Creates the the left shoulder pulls back to the reaction lows Market pushes higher again takes out the height He got the previous time since it just becomes the head head is north of the of the left shoulder pulls back To reaction lows notice how the reaction lows here is kind of almost on par are very similar to the reaction lows from the retreat from the left shoulder Rallies again to form the the right shoulder, but doesn't take out They had high that was created for the head and it's often there. They're about the same side It's the same height as the left shoulder as some occasions It's a bit it's a bit lower because it's almost like the market It was kind of running on steam on this leg then it pushes lower But what does it do this when you drop you connect these two lines that you connect these two reaction lows draw line That's called the neckline And what does it do it falls below the neckline and has one last rally up towards the neckline before it pushes lower again And how you Determined that kind of price target you take height high points in the head and the vertical line down to the neckline And you project that down the way that's the way how you get your price target now Feel free to go online and read more read more about head and shoulders Formation but it would appear we have a head and shoulders formation of the euro versus the US dollar here on the daily chart We can see here your dollar created a fresh multi-month high here is the left shoulder it pulls back here And at a 1670 pushes on higher here create the form the head Which is in around one twenty ninety-two pulls back here all the way back down towards 1670 again coinciding with the kind of reaction lows from after after hitting creating the left shoulder pushes higher here the high here doesn't take Out the the the high of the head and it doesn't even take out the high of the left shoulder So the right shoulder was not uncommon To be not as high as the left shoulder Pushes here trades lower again trades south breaks below what we call the neckline this price here You hear you create it and you draw a line between the two reaction loads create goes south of that At 1670 and what does it do it goes on here? I should trade ever so ever so briefly north of the of the neckline on a couple of occasions And now about south of that as well. So This could be the beginning of a 200 points or cleaner pips pullback in the euro versus the US dollar and given that this is a 12 1292 and the and the neckline comes to play at 1670. That's on over 400 pip price gap between the two so so if we take 400 pips off of 1670 and go south the way we're heading back back down towards the kind of 112 area in terms of price targets looking to the downside or one 1170 Ballpark will be kind of a Potential price target for the euro versus the US dollar should this actually be a head in formations Reverse of pattern, but as we're moving south keep an eye off of the tourty moving average That's going to be potentially a bigger price area to keep an eye on for and that comes into play in at 112 72 Palladium sure I do play them well Now take a look at the British power versus the of dollar cable First thing we notice is that since the lows of March this year it's been broadly been pushing higher and it's still it's no trend of what north of 131 So it's still broadly speaking and it's been its upward trend But notice how we see ever a lot of consolidation in around this is this this mark here Draw the trend line from the loads of March connect the loads of August and just continue down here We can see it's traded below a couple of occasions sort of a bit of a consolidation zone Are we going to break south of it? Are we just going to bounce off it and push higher? Given that the markets are trading at 131 north of the 130 level and we're pretty much trading Almost at our on top of the one or two moving average in round here because at the 131 area I would suggest we could potentially the the bullish outlook is still in place for the British pound versus the US dollar Now it's on the one or two moving average active the support here didn't quite nearly act as support there as a bit of Bit of history acting as support in both in August and also September. So all coming together Between the trend line support from the the March close and the wanted moving average I think this area is going to be a potentially big area of support It should be bounce off of this levels to watch out for to the upside will be the August high of 133 35 and then north of that up towards 134 52 and then beyond that see September high at 136 59 But if you do break below this trend line and if you do go south of 130 we could be that could be Assigned they were heading back down towards the tour day moving average at 128 59 You're all sterling That's what a quicker. Do you know? Yeah, I'm coming on to you're a dollar. Sorry dollar yen in Two charts time and I will have a look at the dollar versus the swissie So you've seen it after a size will move to the upside and you're starting We've come off quite aggressively and my view the euro study sort of trapped between it a few of the few of the Moving averages to the downside the dirty moving average is actually a third decent support All right. Well, they're they're about is actually a decent support And to the upside well kind of the water that the water they move the average and the fifth of the moving average you're kind of Converging on top of each other Okay, they're turning over on it on each other. So I think this is gonna be one of those moments for vibe You could almost Wait until we see a move in either direction whether we go south people back south They tend to move the average and take out the end of November low at Zero spot eight seven three three and that could be a sign that we're heading back down towards eighty six back towards eighty five here A lot of consolidation In the earlier part of the year at these price areas eight zero spot eight five zero spot eight six zero spot eight four Or whether we actually push higher take out both the fifty on the water They move the average and manage to kind of move back up to two and become October highs And they also what one of the pullbacks from September which comes into play at ninety zero not zero nine zero spot Ninety-forty-nine you want to be kind of taking out the fifth of the moving average To be kind of more sure to be more confident That this guy that this positive move is going to last notice how it active positions on a couple of occasions in September So you want to see go north of the fifth of the moving average which is in around 8945 and then beyond that again north of the of the October high at eighty nine sorry zero spot Ninety-thirty three and if you do manage to go to go north of that We could have a tendency move back up towards zero ninety zero spot nine two twenty six I'll come on to the dollar versus Japanese in right now and Then look at the dollar at Swissie Sorry the dollar Frank. Yeah, that was with Frank Sterling versus the Kiwi and Palladium So we can see here that the Donna versus the Japanese It's been a solid upper trend since early September it managed to go on even create a multi-month high today So that can tell you which way which is the which way does the sentiment is go But we have seen a bit of a pullback So we could find support on the dollar yen in around the kind of one fourteen one thirteen areas But the upper trend is is a is still a still in place Next level to watch out for to the upside could be could be one fifteen sixty two This is an area which was from the kind of middle of that middle of January middle January 2017 acted as a citizen So one fifteen sixty two and the north of that really the big number one sixteen will be less Level two potentially keep an eye on for us and then on the downside as I mentioned we may get some support in around In around the this this price area here of one fourteen initially and then south of that one thirteen spot fifty seven And then what one thirteen at the figure itself? Right, I'll just go through. Okay. We've already got about a few minutes over time Yep, no worries. You're very welcome. We've already got a few minutes over time. So I'll do sterling Kiwi Kiwi dollar. I'll do euro. Sorry. I'll do US dollar versus the Swiss Frank and then I don't do palladium and that'll have to be it in terms of the charts We'll be looking at this week. So looking to find a market Just do the board a bit now scrolling through looking at the cash contract for palladium Oh, that's apologies. That's the wrong contract. That's wrong market. That is Platinum Well, that is this is obviously the really big picture in the monthly chart. We're going on to hear his Multi-year highs for our for palladium. No, so it's in a very quite fairly steep ish upper trend Keep notice how as the market was pushing higher and higher and higher We saw a considerable increase in the on the market histogram positive momentum. So the momentum is starting with the buyers Similar view here on the weekly chart markets continues to keep on pushing and pushing I'll take a look about the daily chart any potential to level any signs I would I would suggest that the end the market is going to continue It's in a very clear and obvious upward trend for palladium. I suspect this This upward trend is going to continue levels to keep an eye off or if you do see pullbacks where we may potentially get some support We can see there's a few occasions where but just south of the fifth day moving average and in recent weeks Has acted as support to the area these are areas we can potentially see Support coming at the play at the play the American does pull back to pull back to around the kind of 951 or 950 or maybe 945 area. We can potentially find support From from from that particular metric bearing in mind It's always a good idea to be not too tight with your stop losses because we saw here in in July It kind of almost kind of bounced off of the fifth day moving average But on these occasions here if your stop losses would have been too tight You would have gotten stopped out and missed the onward move. So That's why I said even though the fifth day moving average is at 951 dollars Oh, you know, you may want a few dollars out of sight of that Just to be just to be careful because you can potentially see market just bounce off to 50 or a dollar To below it and then a rocket hire yet again So as you can see markets going on to hit multi well there They're about near multi-year highs and positive momentum is on the up. So You can be more confident at the bullish move will last US Just look now currencies US dollar of Swiss So we can see here that the US dollar versus the Swiss Franken is a pretty solid offer trend since I think it's kind of you know, mid-less September so for about for about two months now It wasn't that long ago that we were hitting multi-month highs So the trend that the bullish trend is still very much in place or comfortably above the tour date moving average What I would keep an eye off for is that as the market here hit a hidden multi-month high It was trading at a fairly narrow range in around here. You can see that the MACD histogram Positive momentum is sliding somewhat. So it could be a sign the market's gonna running on a steam a bit But running on a steam after a two-month bull run Isn't really anything to be overly concerned about if anything it could be indication We have a bit of a pullback and who knows and even find an opportunity to actually buy in the market So if you do dip lower in the in the US dollar versus this Frank We could find some buying support in around here this price here in at zero spot 9950 or south of that at zero spot 9900 Or maybe even down as down as low as a 30 moving average at zero spot 9830 notice how it acts out of resistance and then it finally actually broke north of it And then actually is a potential acting as support And the last market that I covered today is going to be the British pound versus the New Zealand dollar bearing in mind during the week We have an update from the reserve bank of New Zealand Interest rates are tipped to remain unchanged at 1.75% But if you are keeping you are trading this currency pair, it's going to trade anything that has the any New Zealand dollar pairs obviously be mindful of a interest rate decisions GVP New Zealand dollar You're welcome Andrew no worries So the starting Kiwi has obviously had in nature major sell-off over the last number of years But as we can see here on the weekly chart that it's managed to push north of the 100 week moving average And after finally smashing that breaking north of it what they do is not acting as support So keep an eye out for the 100 week moving average which comes into play at one spot 8850 And act as resistance here And now it's potentially going to act as support on this side of things We can see here at the market has been going to making it a steady kind of as a steady push higher So I would suggest the outlook for this in the next few weeks or months is going to be bullish We can see here that the market has come up as a small bit Keep an eye out and I offered up for the 100 week moving average But also other areas you could potentially find support Because it's a bit toppy looking around markets around to a bit of resistance in around the kind of one spot 87 area and then even potentially In areas you can also potentially find some support By a bit lower than that might be even down towards the kind of one spot 83 30 area for the For attention areas of support and then obviously to the upside we're probably know we were not too far away from 194 So if looking towards 197 and then a longer term view will be up to actually the figure of two spots zero zero itself Notice how as the market turned over on itself here, but a decline We saw a swing from positive momentum to negative momentum at the back indicator So this could play out a bit longer. So we could see a We could see a bit of a deeper correction So that that's that's why it's just keeping an eye out down as far as potentially 183 33 itself That that concludes the kind of the charting part of the seminar as they always run through Please keep an eye out for all the things that we do and relate here at CMC markets What I do what is updated seven times throughout the day is the chart form Which I've opened on the screen here click on the chart form here I'll give you a breakdown of the analysis that we sell and other analysts do Very short quick chart and a few other characters about what's going on in that particular chart The chart for the chart forum can be found under market pulse Hit the third option down under market pulse click on the second second option down is the insights It gives you a breakdown of economic coming up to the day some of the nudes and analysis that we do gets posted on Directly on to insight some of it gets posted on to our website We also if you have events on we will advertise those events to make you aware of the events on the insight Under market counter fourth option down It'll give you a breakdown of the actual the forecast and the previous what you can do is you can actually Click on a tab here so that I should remind you automatically of as you can see here I picked on the UK whole house prices was you coming up tomorrow at half nine and you can set a reminder So automatically just pop in it on your screen on your training platform when the figures actually come out Taking it now back in our platform looking back at our platform under the news analysis section I've become a vertical so I've written today so far first one goes up in the morning around six in the morning And then the mid morning update as it gets updated around ten o'clock both of those and also the the update The next and last update of the evening should be done around four o'clock on the time That'll be found here under the news and analysis section And also feel free to just to sign up for future seminars and webinars On Wednesday looking ahead beyond today on the next one to watch out for tonight At 7 p.m. for the summer sorry GMT. We're now in GMT 7 p.m. London time We've webinar. It is the trend development program part one found a foundations of tech of technicals on Wednesday the 8th of November at 1930 credit chameleon time 7 30 p.m. London time we've a webinar on traveling potential opportunities in the equity market And then back to next Monday the 13th of November. I'll be back in the hot seat here at 12 15 for next Monday's webinar I do appreciate your time and consideration Thank you from all of us here at CMC markets and have a good week and have a good look You're all very welcome. Thank you