Financial Markets Online > Weekly Analysis > Weekly Analysis 5th August 2019

DXY

  • The Federal Reserve cut rates by 25 basis points and the move higher following the decision looked like exhaustion.
  • After temporarily breaking the May swing highs, sellers came in force as price produced a fake out.
  • Phase 2 on the daily is now in full swing. Wait for this to complete before another potential push to the upside.

 

EURUSD

  • Following the opposite direction to the dollar, price fell to levels last seen in May 2017 before eventually pushing up into what looks like a Daily Phase 2 move.
  • Expect this move up to continue before another move to the downside.

 

USDJPY

  • August is the second best month for JPY and seasonal strength came in right on queue last week.
  • Sellers have broken through the bottom daily channel. Look for intraday sell setups all this week including all the JPY crosses.

 

CADJPY

  • Big trendline break last week as JPY dominated all the crosses.
  • Look for core setups on smaller time frames all this week.

 

Watchlist

  • We are looking to sell JPY crosses.
  • Looking for selling opportunities on AUDCHF, AUDCAD, AUDCHF and NZDCHF, keeping targets small.
  • Buying EURAUD and EURNZD, like the above keeping our targets small
  • Intraday sell on Indices.

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