Weekly Market Outlook Nov. 2-6 2015

Disclaimer :  NO absolute absolutes. TRADE at your own risk.

 

EURUSD

with price ranging between 1.146 – 1.084
im looking for possible breakout on this and sell e/u till its first major support at
1.049. Prices are still below 200 sma, from h4 to w1, which is a strong bearish indication.
It also rebounded from 38.2% fibonacci level. RSI is currently at 43 level.

EURJPY

wtih level of short-term bullish bias, EJ is still way undecided if it goes bearish. However,
a touch in 61.8% and a lower low, with MACD bearish Crossover and RSI level of 41, would be indicative of a possible long term bearish position. However, EJ is already below the cloud but above still above the 200 SMA. I’m looking for a conservative sell with TP at 127.32.

EURCAD

with ongoing bearish positions in lower timeframe, EC has yet to establish its new lower high and lower lows in W1. It went through a strong resistance in 1.548 hence, pushing the price down up to it current level at 1.443 .It touched its 1st weekly support at 1.438, next support at 1.37, and 3rd at 1.32. Prices are still above the clouds and the 200SMA, however. EC currently has MACD bearish crossover and RSI level at 47. Looking for conservative sell with TP at 1.38.

EURAUD

Got both bearish and bullish take on this since the prices hasnt yet produced a strong lower lows and lower high from its reversal in 1.63. prices are still above the clouds and SMA. Bullish Fibo suggest that its still about
to touch 50% and 61.8% of its run with level of 1.5 to 1.47 before it would continously fall. however a negative employment came up, with all the bearish short-term positions , so im selling conservatively with tp at 1.516, its previous lower low.
Positive bearish MACD crossover, RSI at 49.

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