This market brief is an overview of the week ahead and some of the events we see as being important to the markets.
Please be aware that our views may change throughout the course of the week, and we do not publish updates of such changes. For a more detailed day-to-day overview of the markets and trade opportunities get monthly access for only $69.95 CLICK HERE TO JOIN We may take multiple trades throughout the week. We discuss this in our . LIVE CHAT ROOM Trade View has entered the weekend NET LONG UPCOMING EVENTS INTERMEDIATE WORKSHOP
Our In-house Intermediate Workshops are now in high demand.
to avoid long delays. Enquire now 17 NOVEMBER 2018 – limited seats only!
INDICES AUSTRALASIA ASX – 5915 ( +78 or +1.34% ) The ASX managed to recover slightly last week but is still in very negative territory for the month. For a continued move higher we must now see the ASX hold above 5823 followed by a retest of 5930. A strong close above 5930 could see a move back up into 5985 , and if momentum to the upside is very strong we cannot rule out a strong reversal into 6070. If the ASX cannot hold above 5823, we will look for a move back down to 5777 and 5746 before a pause. A strong break and close below this level however could see the ASX sell off sharply into 5671.
EUROPE DAX – 11549 ( -23 or -0.2% ) The DAX was strong early in the week but a sell-off on Thursday ensured the bears would have yet another win. We will be discussing this market in more detail in the MEMBER PORTAL this week. VOLATILITY ALERTS: Wed 18:30 – German Flash Manufacturing PMI Wed 18:30 – German Flash Services PMI Thu 19:00 – German Ifo Business Climate Thu 22:45 – ECB Interest Rate Announcement – LIVE TV Thu 23:30 – ECB Press Conference For a continued move to the upside we must see the DAX close strongly above the 11755 – 11790 area. Should this occur, we will look for a retest 11875. If momentum is very strong, a break and close above this level could see another push higher into 12054. If the DAX fails to close above 11755, we will look for a move back down to 11362 before a potential pause. If this market continues to sell-off, a very strong move down into 11050 cannot be ruled out.
US SP500 – 2765 ( -4 or -0.14% ) The S&P finished off the week slightly lower and with an important fortnight coming up, all eyes will be on this market. We will continue to discuss the implications of this in the LIVE CHAT ROOM . VOLATILITY ALERTS: Thu 23:30 – Core Durable Goods Orders (monthly) Fri 23:30 – Advance GDP (quarterly) For a move higher we would like to see the S&P hold above 2760. Should this occur we could see another retest of 2785, and if momentum remains strong to the upside we cannot rule out a moves to 2808 and 2838. If we cannot hold above 2760, we could see this market continue to sell-off into 2736 before another pause. A break of this level however may result in quick move down to 2704; and if momentum to the downside remains strong we may see a move down into 2680 and 2660.
FOREX AUD/USD – 0.7119 ( +3 or +0.04% ) The Aussie dollar remained in a very narrow sideways range last week and as such our levels remain unchanged. For a move higher we would first like to see the AUD hold above 0.7113. Should this occur we will look for a move into 0.7197, and if upside momentum remains strong we will look for 0.7229 – 0.7236 before a pause. If the AUD breaks back below 0.7014, we may likely see a move back down into 0.6997. A strong break below 0.6997 could see us move back down into 0.6958 and 0.6934. Should the move to the downside remain very strong we will look for a retest of 0.6830.
EUR/USD – 1.1514 ( -43 or -0.37% ) The Euro has put in a short-term double bottom right at one of our key levels and we will be discussing this very closely this week in the LIVE CHAT ROOM . VOLATILITY ALERTS: Wed 19:00 – Euro-area Flash Manufacturing PMI Wed 19:00 – Euro-area Flash Services PMI Thu 22:45 – ECB Interest Rate Announcement – LIVE TV Thu 23:30 – ECB Press Conference For a sustained move higher we would like to see the EURO close and hold above 1.1613 this week. Should this occur we could see a strong move into 1.1738 before another pause. A strong break above 1.1738 could result in a fast move to 1.1822. If the EURO cannot close above 1.1613, we could see another retest of 1.1496. A break below this could be followed by another quick move into 1.1453; and should momentum remain strong we cannot rule out a move to 1.1347.
GBP/USD – 1.3065 ( -87 or -0.66% ) Like other currencies the Pound continues to consolidate and we are now on alert for a breakout move in this market. For a continued move to the upside, we would like to see Cable remain above 1.3035, followed by a retest of 1.3161 before a pause. Should this occur we will look for a move to 1.3191 and 1.3277; and if momentum is very strong we could see a re-test of last week’s highs into 1.3386. On the downside, should we break and close strongly below 1.2868, there is every chance we see a move lower into 1.2720. Should this level break however we could see a fast move down into 1.2622.
USD/JPY – 112.54 ( +33 or +0.29% ) The $/YEN managed to end a 2-week losing streak with a slightly higher close last week. For a move to the upside we must now see this market hold above 111.73. Should this occur we will look for a test of 112.68 before another pause. However a strong break and close above this level could see the YEN rally strongly into 113.87. If we cannot hold above 111.73, we are likely to see a retest of 111.09. A strong break and close below this level could result in a move back down to 110.45, and if momentum to the downside is very strong we may see a very sharp move down into 109.94.
COMMODITIES GOLD – 1226 ( +8 or +0.66% ) GOLD also spent the majority of last week consolidating and is now also poised for a breakout. For a move higher we would like to see this market hold above 1222 on its way to re-testing 1238. Should this occur we will look for a retest of 1247, and if momentum is very strong we could see a move into 1260 before a pause. If Gold cannot hold above 1222, we could see another decline into 1216. Any subsequent breaks of this level however may result in further downside into 1206, and if momentum to the downside remains very strong we cannot rule out a move back down into 1187.
A detailed version of this market brief complete with additional analysis is available to existing Clients. If you are an existing client please Log In. If you are not a member, sign up to our member portal now for only $69.95!
DISCLAIMER The views represented on this website do not contain (and should not be construed as containing) financial advice, recommendations, opinions in relation to acquiring, holding or disposing of a financial product of any kind, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Trade View Investments accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of the above information. Consequently any person acting on it does so entirely at his or her own risk. The research does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. TRADE VIEW MAY CHANGE THE VIEW PRESENTED AT ANY TIME AND WILL NOT PUBLISH ANY UPDATE TO THAT EFFECT. This communication must not be reproduced or further distributed.