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Prop Trading Futures

Nov 16 2015 Special Situations

Commodities, Financials and FOREX

Special Situations

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 РSWISS 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.

DEVELOPING PATTERNS

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.