Commodities, Financials and FOREX
editor : Robert Main
issued on November 15, 2015
MARKETS IN PLAY
CURRENCIES – USDJPY
Pulling back, probably going to retest the high 121sh. Not seeing it lower.
CURRENCIES – CHINESE YUAN
The half-way flag is arguably completed and a resumption of the uptrend could be underway.
CURRENCIES – EURCNY
A bearish flag within a bear market was completed 2 weeks ago. On Thursday we saw a weak test of the lower trendline.
On a closing basis, Thursday high should not be violated this week for the bearish case to remain valid.
CURRENCIES – GBPUSD
Failed breakdown followed by a weak bounce.
I do expect the low to be taken out, the pattern to get completed and Cable to fall from here.
CURRENCIES – EURO
Ascending Triangle in play. Looking for a drop straight from the open.
CURRENCIES – SWISS FRANC
Based on the symmetrical triangle that is clearly visible on the daily chart, the pair is heading toward 1.1180.
COMMODITIES – GOLD
Looking bearish with 2 bearish patterns in play.
CURRENCIES – AUDUSD
Long term chart is pointing down. Shorter term the Aussie is possibly forming a Rectangle.
COMMODITIES – CORN
December Corn is very close to breaking down.
COMMODITIES – CRUDE OIL
Looks bearish to me, especially if it breaks below $39.