Weekly currency trend analysis – Week 40 2015

These are trade setups that traders might want to zoom in to this week.

I don’t have the time to write a weekly analysis that I usually do since the priority is to launch the last forex class for this year. Those of you who intend to attend a course or know a friend who is keen, please refer to our course. Thanks in advance.

In the meantime, these are trades to zoom in to.

 

WTI consolidation on support

  1. There is a multi-month support from the lows of January and March this year.
  2. WTI is obviously perched right there while printing a triangle consolidation.
  3. A support is meant to be broken or unbroken depending on whether you see a half-full or half-empty glass but this is a good place to bet.
  4. In my opinion, month-month trend is down so this is the direction that a trend follower might want to follow.
WTI perched on multi-month support

WTI perched on multi-month support

 

DJ30 bearish continuation

  1. Week-week, DJ30 printed a bearish break to the downside last week so a trend follower should be looking at continuation.
  2. Pennant or wedge pattern should provide some reinforcement.
  3. All this below ’3 YH’ which should be a psychological booster
DJ30 evidence pointing to bearish continuation

DJ30 evidence pointing to bearish continuation

The following two tabs change content below.
Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005. Soh Tiong Hum is a member and regular speaker at Technical Analysts Society Singapore events and has a bi-monthly lunch time event at IG Singapore on forex and stock markets. He is an avid blogger on technical analysis topics; his Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX. Come find Tiong Hum on Google+
Loading Facebook Comments ...

Leave a Reply