02 july 2020...source tradingview. the figures stated are as of the 2 july 2020. past performance is...

02 July 2020

22 July, 2020Source Tradingview. The figures stated are as of the 2 July 2020. Past performance is not a reliable indicator of future performance. This report does not

contain and is not to be taken as containing any financial product advice or financial product recommendation

S&P500

• The price action that has followed the 3231.25 high is viewed as counter trend/correction rather than being part a reversal lower.

• Since Tuesdays update, the correction has taken on characteristics of a 5-wave triangular “abcde” which appears close to completion.

• Should we be right about the correction being an “abcde”, weakness should find support near the 3000, before the uptrend resumes.

• Keeping in mind a lot of bad news has been absorbed by the market the past two weeks. A market that can't go down on bearish news is

a bullish development. My suspicion is that early next week, after the long weekend is out of the way the S&P will push higher and

retest/break the 3231.25 high. Short Term Summary: Awaiting confirmation the correction is complete and the uptrend has resumed.

32 July, 2020Source Tradingview. The figures stated are as of the 2 July 2020. Past performance is not a reliable indicator of future performance. This report does not


AUDUSD

• Unchanged - The price action following the .7064 high is viewed as counter trend rather than being part of a reversal lower.

• Ideally, we would like to see the correction pullback continue towards the .6680 support area, however I am losing confidence that

the pullback is going to be as deep as initially expected.

• The clearest sign the correction is complete would be a break/close above the .7064 high which would then warn a move towards

.73/.75c is underway. Short Term Summary: The AUDUSD continues to consolidate is rally from the March lows.

42 July, 2020Source Tradingview. The figures stated are as of the 2 July 2020 Past performance is not a reliable indicator of future performance. This report does not


EURUSD

• The pullback from the 1.1423 high is viewed as corrective/countertrend.

• We remain unsure as to whether the correction finished at the recent 1.1168 low and there is certainly some clear signs of buyers

evident operating just below 1.1200 this week. Or still needs to take another leg lower towards 1.1100 to complete the correction.

• As such, we are currently on the sidelines and will potentially look to re-enter longs either on a dip to 1.1100ish or a break/close

above 1.1354. Short Term Summary: Neutral, waiting for a dip to 1.1100ish or on a break/close above 1.1354.

52 July, 2020Source Tradingview. The figures stated are as of 2 July 2020. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation

NZDUSD

• The price action following the .6585 high is viewed as counter trend rather than being part a reversal lower.

• The ideal retracement target is the .6320/10 support area, however there is evidence the correction is nearing completion and that

the NZDUSD may not see that final leg lower we have been hoping to see.

• The clearest indication the correction is complete, and the uptrend has returned would be a sustained break above the June .6585

high. Short Term Summary: The NZDUSD continues to consolidate is rally from the March lows.


AUDNZD

• We await clarity as to whether AUDNZD is tracing out an inverted head and shoulders bottom. Or alternatively is tracing out a three

wave “abc” type correction that has scope to retest and break below the mid June 1.0582 low.

• While below the neckline of the potential inverted head and shoulders bottom 1.0730 area, the preference is for further sideways to

lower price action.

• We would move to a more positive/bullish view if a daily break/close above 1.0730 is viewed which would then suggest a

retest/break of the 1.0881 high is underway. Short Term Summary: Use 1.0730 as the bull/bear divide. Bearish below, Bullish above.


EURCHF

• Our view that a medium-term low is in place at the May 1.0503 low has been under threat as the pullback from the 1.0916 high,

extended lower than expected.

• A third volatile session in a row for EURCHF, however we do find the bullish doji type candle of interest and are encouraged by the

daily close back above 1.0635.

• TRADING VIEW: Following the bullish daily reversal candle and the close back above 1.0635 I have pre-empted the actual buy

signal (more risky than if I waited for the buy signal confirmation which is a break and close above 1.0670) and opened a small

EURCHF long position this morning at 1.0642. The stop loss will be placed just below 1.0600 and the target left open for now.


EURAUD

• After drifting off our radar, in recent sessions we have seen some signs of stabilisation in EURAUD from ahead of 1.6000.

• The formation of a daily doji candle overnight is of interest for three reasons. 1/ It suggests that there is room for some rotation

higher back towards the top of the range 1.6450/1.6500 with a clear cut (stop loss) below 1.6180. 2/ It offers a hedge against our

long EURCHF position should equities fall into the long weekend. 3/ Our bias remains to be long EUR and EURXXX.

• TRADING VIEW: I have bought a small amount of EURAUD this morning (in less than half the size I bought EURCHF) for the reasons

outlined above at 1.6267. The stop loss is placed below 1.6180 and the profit target has been left open for now.


USDJPY

• Post the volatility in March/April, USDJPY has traded within a range between 110.00 and 106.00.

• Overnight USDJPY rejected perfectly our resistance 108.00/10 area which maintains our downside bias, looking for a move lower

towards 106.00 to unfold.

• Should the range lows at 106.00 break, the expectation is then for a move towards medium term support 104.50ish.

• Keeping in mind, it would take a break and close back above 108.00/10 to negate our negative bias.

• Short Term Summary: While below 108.00/10 a weak negative bias is in place.


GOLD

• Golds move to fresh highs overnight flushed out sellers leaving a loss of momentum type daily which suggests gold may have

competed a minor wave iii top at the $1789 high and that a minor wave iv pullback is in the offering.

• Providing the pullback remains above key support $1745/35 gold can then take another leg higher towards $1800.

• Keeping in mind a break/close below the $1745/35 support zone would suggest the rally has stalled and that a deeper pullback

initially towards $1660 is underway.

• As a side note - while I love the macro story behind gold, the amount of chatter about Gold is increasing by the DAY which makes me

nervous. Short Term Summary: While above support $1745/35 a positive bias is in place looking for the rally to extend towards the

next upside targets $1800 and then $1850.


Bitcoin

• We are working with the wave count that suggests the rally from the 3850 March low to the 10429 high of June 1 completed a 5-wave

advance.

• The price action that has followed the 10429 high appears corrective. The ideal pullback target for the correction is towards the 200-day

moving average 8300 and would be looked at closely for a buying opportunity.

• Keeping in mind, that a break/close above 10,500 and then 11,000 is required to suggest the correction is completed and that the

uptrend has resumed targeting a move towards 14k.

• Short Term Summary: Neutral, turning bullish on a close above the 10500/11000 area.

122 July, 2020

DISCLAIMER

DISCLAIMER

TECH-FX TRADING PTY LTD (ACN 617 797 645) is an Authorised Representative (1255203) of Gain Capital Australia Pty Ltd (ACN 141 774 727) which holds an Australian Financial Services Licence (number 345646).

The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments. Gain Capital Australia Pty Ltd recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets. It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com.au, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. GAIN Capital Australia Pty Ltd (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.

TECHFX TRADERS owns copyright of the information and material contained in this presentation/report/webinar. Information may be printed or downloaded for personal use. The information may not otherwise be reproduced and must not be distributed or transmitted to any other person or used in any way without the express approval of TECHFX TRADERS.

http://www.cityindex.com.au/

132 July, 2020

DISCLAIMER

DISCLAIMER

TECH-FX TRADING PTY LTD (ACN 617 797 645) is an Authorised Representative (1255203) of Gain Capital Australia Pty Ltd (ACN 141 774 727) which holds an Australian Financial Services Licence (number 345646).

The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments. Gain Capital Australia Pty Ltd recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets. It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com.au, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. GAIN Capital Australia Pty Ltd (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.

TECHFX TRADERS owns copyright of the information and material contained in this presentation/report/webinar. Information may be printed or downloaded for personal use. The information may not otherwise be reproduced and must not be distributed or transmitted to any other person or used in any way without the express approval of TECHFX TRADERS.

http://www.cityindex.com.au/

02 july 2020...source tradingview. the figures stated are as of the 2 july 2020. past performance is...

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