Flash crash or melt up? [Video]

Andrew Pancholi Market Timing Report

As the market about to head up? Or are we about to crash further? Here are the price levels that will tell you.

Following on from yesterday's time critical video, here is the latest update on the S&P 500 E-mini futures. Firstly, please review the video especially from 10 minutes 42 seconds in. We are now using a 240 minute chart. Note the magenta channel is now evident in this timeframe. This is the key path of the market at this moment in time. Exactly as briefed in this video, you will see the market reacted off the key level at 5528 and then pull back to the 50% retracement level at 5180. Ensure you have the other key levels noted as shown in the video.

At this time of writing, the futures are down slightly. The failure of the magenta dashed line will see the lower line challenged the potential new low. For any bull market headway, the upper channel line must be exceeded.

Author

Andrew Pancholi

Market Timing Report

Andrew Pancholi is a world-renowned trading expert specializing in market timing.

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.