 Hi guys, hope everyone is doing well. Happy Sunday. Hope you've all had a good week Enjoying the weekend. Let's have a look over some charts as some of these big levels are still in play Thank you very much as well for the birthday messages on Monday. It means a lot to me Let's get stuck in then we'll start as usual going one by one through the the markets And obviously if you look in the comments or just above the comments section there They will be time stamped as well. So you can just flick through to the ones of interest euro I mean these are daily candles now that we're looking at and it hasn't I mean looking at this done too much Has it it's above and you can see here our line in the sand that we had from two weeks ago Unfortunately last weekend I wasn't able to do this video, but you can see I'm doing it now a bit earlier I've got football in a couple of hours. So before I get it out of the way now rather than Later when I'm most likely going to be injured Anyway, we're above this area this line in the sand which really dictates play for me between the one 17s and the one 19 So above there you'd argue We're perhaps likely to get a bit of a push on however with the euro We're still bang on this trend line all bit tiny bit above Of course, you would want to see a bigger break before committing to any longs But I would say you know looking at this It wouldn't be ultimately too surprising to see another test of that Triple top to make it for and then if that happens, that's when you can get potentially that final push higher one thing of note though is The month that we're in it is starting to feel certainly on some days and sessions That is summer market season and the volume is drying out a bit certainly in effects Can we get a big technical push above a multi-year trend line in these conditions? Potentially, I would you know, just argue maybe not though However, it'd be interesting. Can we get another test of that? I still have the line in the sand on the futures at one 18s and then the bottom part of that range Which we tested a couple of times before testing it again last week. I'd have that as the bottom so Levels above and below where we're trading you can see I haven't had to adjust them now for two weeks And and that really sums certainly the euro dollar up So therefore to the downside the level stayed the same above where we're trading I guess this is when you know You are gonna want to really scoot back the chart and you're looking at some of the highs going back here to May 2018 and that really takes us to sort of the 120 handle and then the big level that I think people will Obviously pay attention to it's just a bit above that one 21 Some people are thinking at some point like Alex. I'm sure you've Seen his calls thinking 125 comes which is obviously these highs that we had from late 2017 Or I should say early 2018 So they're not a million miles away And especially if we get a break above that weekly trend line you can see maybe there is a bit of free room for it to go I'll just be careful about thinking it's gonna happen in one explosive week Example but yeah to the downside obviously we've got these highs that haven't quite been retested yet I still think you know if we if we get a strong rejection again of this weekly trend line Or maybe we would false break the the highs Then people will be on high alert and below 117 I think 115 you can see here, which we had that's sort of the high from the night for March People will be identifying that and for the bulls it looks like a great place to reload up for the long moving on swiftly to the pound again levels not Tested as a touch sorry since two weeks ago, and you can see I mean you probably with We probably want to move the 130 39 area, but other than that to the upside you're not changing anything again This is August. This is halfway through It's it's slow, isn't it and the fact that in 14 days, I haven't had to What I say 10 days of trading had to change any of my levels speaks volumes here Not because they're great levels, but because the market hasn't really pushed on higher or lower from then To the upside of this obviously 133s Will be of no and then you've got a couple of higher levels going back to really the election on the 12th of December obviously in early hours 13th we did get up to 135 on futures there. So keep a watch on that To a closer upside obviously the 132 handle will be one that people keep an eye on there It's a double top as well from recent trade But also going back from 9th of March, which of course was that Euro night from March So a lot of attention will be around that similar level in the Euro and potentially at some point the longer term weekly Trendline another rejection of that looking at it on the weekly you sort of will have this area marked up at 127 47 Which is the high from the 10th Also indeed at the time of June the the night for July that people will sort of have that on the on the week I guess maybe a tiny bit higher but more of a zone there people will be Identifying that either as a place to get long should we start pushing down or the continuation of the downside? If this rejects it So yeah big big rejection again last week on the weekly candles one two three Times it's hit that zone and come back down how key is that going to be I'd favor You know we actually come back down to the 130 handle not a massive move early 80 pips or so But that is when it is decision point that is when the bulls and bears are going to go to battle Above 132 that's when this whole view is is wrong And a daily close above that trend line that could lead to a weekly We then start to see a push higher The only issue that made the week and a half is these markets can't go down while equities are going up And equities are continuing to go up albeit in a bit of a choppy fashion as of late Aussie dollar moving on These are the levels. Hopefully it loads up that you can see so we've got a bit of a push higher We did get a break above the 72 15s, which is the first time you can see we've got above there since 17th of april 2019 is a big level actually and I think that sort of false break would have Potentially caught a couple of people out to be completely honest But yeah, we're back into the zone We just removed that ellipse if we do come back down I'm just going to remove The rectangles here. This would be An area where I think people are certainly going to be eyeing up a You know key key defense of this this up Would trend upward direction that we've had on on the Aussie dollar So keep a watch should we at all come back to test that on the The longer time frame you can see similar to the pound, isn't it in that you've got this Another test of this I guess in the euro as well all currency pairs. That's right on this very very key You know just point so on the daily it hasn't really done too much It's making a decision. Something's got to go Is it going to be the close above this area on the week or is it going to be a rejection? And actually we start to come back below these two highs that we had and on the daily chart What does that look like where you can see around that sort of 70 38 level? Is it 70 38? 70 45 around our zone that we got here So that's going to be the key decision whether we can get there To the downside this week without equities coming under pressure I'm not too sure but that's going to be huge and then obviously above The highs and more importantly just keep it on your weekly trend lines here That's when people will start thinking what actually can we now get a push towards the 73 87? Which is still a decent size move you can see around here going back to 2000 and 18 levels December So yeah, the the the currency pairs just got a factor in The date the summer sort of season Our weekly trend lines and also the lines in the sand which would be very important for weather Price can push to the downside or continue to push to the upside. I don't think there's much harm if you're not in a Dollar related pair to hold off And wait for a break by the way If you got caught out in that was he obviously just be aware of that weekly trend line And like I said, I do think people would have got caught there But if your stocks are tight Probably was not the worst trade in the world moving on equities Which I've said have grinded higher in the the couple of weeks that we haven't done the the video Solid support that we got down 3200 we then broke through a very key zone That we had marked up here and we can see we've just confirmed the push above it ever since so we broke above Rejected the lows rejected the loads one two three four times. I just shows how key that level is However, if we just get a little horizontal line on the last few days worth of price action You've got one two three four quadruple top Now that's either looking to coil up and and smash through or it's just showing Kind of similar price action what we saw in the last all-time high and that we just can't keep pushing on And eventually we come down to be honest guys, it would be healthy for a little correction, wouldn't it? I think people are going to load up if it was to come say 30 284 It's also the moving average here that people will be looking at and we just confirm What moving average it is the 21. I know that's good in the nasdaq But people will be looking at that on the s&p as well. So Just going to Change a couple of these levels Just to make it a bit cleaner Oh, I don't know what I clicked there one that just sort of loads up Um, I would just there we go. I would just have This level is the the area. I think people are going to load up from around 32 84 Obviously your price action you want to see what you want to see before committing to that trade And also keeping our 33 21 the all-time highest in touching distance 33 99 and it's actually three quarters on that But yeah break above there. Then, you know, where does it go to? That's when you know, you start maybe looking at some trend lines coming up from these levels or your fifth extensions But yeah, I think for Equities, you're going to have, you know, a dart at the all-time. There's no guarantee that it pushes on and actually I think the the next trade to add to it on that continuation is still You know a long period away or when we can get through We can then come back because it will come back in my opinion to test It whether it holds straight away or not before that next leg higher So we're still a few weeks away. I believe from The next really good opportunity on a continuation higher if we do push lower You know these highlighted areas and rectangles at all points where for now I'd consider adding to it One market that hadn't had trouble with an all-time high was the NASDAQ However, last sort of week or so it had a bit of a struggle I'll say last week had a bit of a struggle trying to reclaim it You can see the trend channel still intact The 21 day movement average is still something people look at and the bottom part here Of that trend matches up with a nice area, which was also I'm gonna say there's a previous sort of all-time high Around here on the night of july good sort of line in the sand people looking at And the previous all-time high, sorry This is the level I was thinking of here, which again not adjusted from 10 or two weeks ago 10 trading days ago The previous all-time high that we had on the 13th of july that's going to be pretty key by looking at this For for a bit of a guide 21 day moving average trend line in their area support around 10,780 There's quite a few areas that the bulls will have a chance to defend if we do push lower to the upside The new all-time high is similar to the s&p in that one two three four rejections last week However, that's obviously no guarantee. We definitely push lower But as a bull you probably would have wanted to see Price action on Friday to finish a tiny bit higher. Do we come under a bit of pressure? On the open we'll have to wait and see it still early in the weekend really To have a look at those weekend markets Dow Jones had a good Rally over the last two weeks. Yes, it stalled like the other equities did as well But we came up to this such key level here 28,000 127 before the big breakdown that we got on the 24th on that monday and tuesday in february 24th and 25th So we hit that level we then find support back on the 9th of july 9th of june high Keep a watch. Should we come back to our next level? I mean, I haven't edited this. I'm not going to edit it I have a looking at this trend nine previous area of resistance around 27093 If 27827 doesn't hold on the push to the upside if we get above this zone That's when you're going to see more tweets from donald trump as we approach new all-time highs I'd say that it's not a great it's not a massive cool It's not brave cool, but the dow in my opinion is going to be on all-time highs Before the election if not on the election As well as it continues to push on so just some areas of interest to be aware of if that comes comes sooner rather than later This breakdown point here on the friday of the 21st of february so that gap will be of interest And then of course the all-time high to the downside when this view is wrong trend nine has to go This level has to go But then of course the 31st of july could well still be a point where people look to sort of load up As well as would be the 29th of june low. So yeah, dow S&P and nasdaq while they stalled over the last sort of back end to that week They're still in pretty good nick. I would have to say going forward gold Obviously had a massive push lower It's uh, and you can see these levels on when we would have done this would have been the second So yeah around these sort of highs you smash through that Obviously can't necessarily put levels on above that haven't been traded. Uh, we then came back below. We took out This this next area and then which was the $2,000 handle just a bit above that as well, by the way That went in quick succession Uh, and then we came back to a previous sort of resistance level 23rd of july that got rejected We pushed higher the way we finished last week. You might be slightly more comfortable But for me, we're still in a sort of a range where it's 50 50 where we go higher or not But that would be a good decision area line in the sand before whether we test the low last week again Or actually we push on above 1975 You're likely to see then the $2,000 handle and above that the all-time high below this area This is where I think people would be looking at say the eighth of july high 1831 on futures That would be probably if you're looking for a more longer term position Uh to get in around there. It's a tricky one on gold I have to say because if you're you know, a long long-term investor It's not what you want to see that is part and parcel, you know, if I go back to my s&p trade that I'm still in You know, I didn't want to necessarily see price come down from What's this the high here 32 31 down to 29 35, you know, that's uh 29 300 points if my maps is correct, you know, you don't want to see it But if you believe in it, it's part of parcel the market correction is healthy And you know, if you believe in it that much So you've been presented with an opportunity to get long or another one down at 1831, you know, this has been on a fantastic run fantastic run And obviously since that sort of low that we the coronavirus loan should we say Oil a couple people think it's it's coiling up for a move to the upside a few people reckon This rejection of our level here from the 2nd of march is key. It's telling and actually we're going to push lower I think it's it's valid if you're sure You're you're in profit. It's stop above the the 2nd of march And obviously which turns out to be the the high of the 5th of august Uh, you know above that area And it's going to work now or it's not if you're thinking of the long You shouldn't necessarily be in it because you would have got or you would have taken profit on that level Which we've had marked up again from two weeks ago unchanged And yeah, it might be that you're now stopped out on the rest of that position That's a winning trade or you're just waiting So above 43 43 Then we'd be looking towards that 45 dollar handle and also the lower the 5th of march And then the 3rd of march high as well having a look at the this is bringing another chart here on the weekly for for oil It's uh, dare I say it and I don't want to I don't want the oil market to be listening to me because I feel It's gonna Roughly up the wrong way, but what a boring market Look at this. Look at the finishes here in the week It's it's done Pretty much Nothing But it is a key level, isn't it? You know here putting this back on the weekly We've got the 24th of december that week. Remember when equities also bottomed out That level here closed below this We can't quite get a close the week above that shows the significance But if we do, I think 50 dollars comes pretty easy To this, but yeah key level would I want to be sure if it was it'd be More of a Be more of a slower A shorter time frame trade is the word i'm looking for the long I think we yeah, we get 50 bucks later this year. So yeah, I'm still relatively confident in that I just wouldn't be committing to a new long if not already in it silver obviously that market has been on on A bit of a whirlwind this year. You can see I mean look at that week To be fair to it, you know, it's a back above the Line in the sand the only level we have marked up for it So forgive me for that, but let's have a look at the daily chart to try and piece this together If we were to come back down to the 23rd of july 28th of july low, that's a key level It rejected the previous sort of high area. No real Close below that so another key zone. We're above the line of the sand I think looking at this you've now got a bit of a range Just above where we're we're trading the double top from fursday friday Also the low from the 10th of august to monday back above that You'd imagine gold's also pushing on and then we'd be looking at the the multi-year high for silver Dax just to finish it Loads up When did we do this it was the second so Second of august so we push on me. This makes me look like a genius, isn't it back above the Uh The bottom part of that that sort of line of sand that we have come back to test it and it pushes on And all sort of horizontal lines have been respected. So good to see that Just remove those arrows I guess the the line in the sands of the downside 12 and a half thousand You probably still keep that on just obviously bringing in these new lows as well This trend line break and also the footsie had one similar I believe wouldn't have been welcome to bulls But again, it's been a chance to get in lower down So bear that in mind on the s&p bear that in mind on the nasdaq bear that in mind on the dow Is a dip still a buy equities. I think the answer is yes To the upside what needs to happen here. It has to stay above 12 set thousand seven Five six. I'm just going to extend that horizontal line Uh, the rectangle I should say Just to bring that across that's going to be so key Look how well that's been respected That goes lower Then we probably get 12 and a half and then it's another decision time But yeah, this holds then yeah, just keep a watch on those Previous levels to the upside from last week and also the high that we had back on the 21st of july Should we we get a further push obviously trend line is a long way away But you've got that low from the 21st of feb the friday before the 24th as well But markets set up nicely. It's a shame. It's an august is what I would say So keep an eye on those trend lines on currencies equities Uh, while it didn't finish necessarily great on friday There's still some great levels to continue this overall uptrend oil Keep an eye on that weekly level from way back when gold There's still some solid support a bit below if your overall Bias is still bullish. It's just one you've got to suck up I think from from last week and and believe in the the bigger picture Anyway, guys, hope always well. I'll see you next weekend And I hope you have a great week ahead