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AUDJPY weekly chart from 2016 to May 2018 (chart B)

Watch AUDJPY for a continuation of this pattern and its implications

AUDJPY is a potential downside continuation pattern currently doing consolidation. At the moment, it is at support from last year’s bottom. A new 52-week low printed first quarter this year suggests further lows. Negative implications to stock indices if previous correlation is still valid.

XAUUSD weekly chart in line chart format

Thoughts of the day on NZDJPY, XAUUSD and SiMSCI

Look at NZDJPY which has potential to fall off a cliff and make a big move. SiMSCI could have topped with a very common reversal pattern. XAUUSD is also looking toppish and could turn out to be a disappointment to gold bulls.

FT100 pullback

These have different setups but each reasons to be topping

Copper, DAX30 and FT100 show different but compelling potential bearish reversal setups. DAX30 and FT100 are loss leaders among major stock indices. Copper prices on the other hand has a positive correlation with stock indices so bearish setups in these three should be treated as confluent signals.