How low can JPY go? Free signals, Brent crude oversold [Video]
|Welcome to this week’s Market Blast Technicals.
I’m Brad Alexander and on behalf of Valutrades, today we will look at Brent Crude (UK Oil), Gold (XAUUSD), and AUDJPY.
Yesterday we looked at JPY pairs and the over-all weakness of the Yen on these Daily charts.
Price action is on a one-way street and most pairs have broken through key levels of resistance.
We are monitoring AUDJPY as price action has reached a previous level of resistance from March of this year and the neckline from this head-and-shoulders pattern from 4 years ago.
Gold seems to be struggling to find direction these days, but we see that price action has bounced off this lower trend line but we will keep an eye on our Stochastic Oscillator which is heading into Overbought territory.
The MACD indicator may be telling us to expect a Ranging Market as we mentioned in last week’s video.
And, don’t forget to try out Valutrades Signals and you can find information on the website or on the YouTube card on the screen now.
Brent Crude fell yesterday to fill this weekend price gap and we hope you spotted this double top and took advantage when price action broke the neckline into this potential Cup-and-Saucer pattern.
Price action has just bounced off this lower trend line and the Stochastic Oscillator is moving from Oversold.
Thanks for watching and don't forget to subscribe to our YouTube Channel and register on the Valutrades website to get notifications on new content as it happens.
That’s all for now. Happy trading with Valutrades and we will see you later in the week with our trading tips video.
CFDs and FX are leveraged products and your capital may be at risk.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.