Another tumultuous week - weekly technical analysis
Pepperstone
[{'start': '1.699', 'end': '3.099', 'text': 'Hi traders and welcome to the Technical'}, {'start': '3.099', 'end': '4.166', 'text': 'Analysis Market Watch'}, {'start': '4.166', 'end': '5.666', 'text': 'on Friday the 2nd of May.'}, {'start': '6.533', 'end': '8.599', 'text': "So I've seen a tumultuous week with a lot"}, {'start': '8.599', 'end': '9.800', 'text': 'of improvements in'}, {'start': '9.800', 'end': '11.199', 'text': 'the indices and some of'}, {'start': '11.199', 'end': '12.699', 'text': 'the currencies are starting to break'}, {'start': '12.699', 'end': '14.666', 'text': 'through in a non-farm payroll week.'}, {'start': '14.666', 'end': '16.400', 'text': "So let's jump into the markets and see if"}, {'start': '16.400', 'end': '17.233', 'text': 'we can identify any'}, {'start': '17.233', 'end': '18.800', 'text': 'trades for today or early'}, {'start': '18.800', 'end': '19.599', 'text': 'into next week.'}, {'start': '23.666', 'end': '24.633', 'text': "All right, so we'll start out here with"}, {'start': '24.633', 'end': '26.533', 'text': "the Aussie USD and it's"}, {'start': '26.533', 'end': '27.333', 'text': "one of the ones that's"}, {'start': '27.333', 'end': '28.533', 'text': 'been completely flat line.'}, {'start': '28.599', 'end': '29.666', 'text': 'This is not one of the ones that I was'}, {'start': '29.666', 'end': '30.533', 'text': "talking about when we're"}, {'start': '30.533', 'end': '31.699', 'text': 'talking about big moves'}, {'start': '31.699', 'end': '32.900', 'text': 'because it has still'}, {'start': '32.900', 'end': '34.099', 'text': 'done absolutely nothing.'}, {'start': '34.366', 'end': '36.033', 'text': 'Actually everything that we talked about'}, {'start': '36.033', 'end': '38.233', 'text': 'last week has not actually changed.'}, {'start': '38.233', 'end': '39.900', 'text': 'We had a little bit of a move and tried'}, {'start': '39.900', 'end': '41.199', 'text': 'to go higher and failed'}, {'start': '41.199', 'end': '42.766', 'text': "and then of course it's"}, {'start': '42.766', 'end': '43.599', 'text': 'reversed back.'}, {'start': '43.599', 'end': '45.300', 'text': "It's still hovering around this very,"}, {'start': '45.300', 'end': '46.300', 'text': 'very important zone'}, {'start': '46.300', 'end': '49.699', 'text': 'around that 6380 to 6420 mark.'}, {'start': '49.699', 'end': '52.333', 'text': 'That zone between those two levels has'}, {'start': '52.333', 'end': '53.566', 'text': 'been very, very strong'}, {'start': '53.566', 'end': '55.599', 'text': "and look, there's a very"}, {'start': '55.599', 'end': '56.500', 'text': 'good reason for that.'}, {'start': '56.599', 'end': '58.433', 'text': "I mean, obviously we can see we've got"}, {'start': '58.433', 'end': '59.199', 'text': 'resistance at these'}, {'start': '59.199', 'end': '61.300', 'text': 'points here, but if we do get a'}, {'start': '61.300', 'end': '62.833', 'text': "break past this level, like I've said in"}, {'start': '62.833', 'end': '64.000', 'text': "the past, there's a"}, {'start': '64.000', 'end': '64.933', 'text': 'reasonable chance that we'}, {'start': '64.933', 'end': '66.933', 'text': 'could find ourselves at 66 very quickly'}, {'start': '66.933', 'end': '69.699', 'text': "because there's not a lot of problems."}, {'start': '69.933', 'end': '72.699', 'text': "We've got a few issues here at 6520 to"}, {'start': '72.699', 'end': '76.266', 'text': "6550, but that's a solid 120 pips away."}, {'start': '76.500', 'end': '77.466', 'text': "So they've got some"}, {'start': '77.466', 'end': '78.400', 'text': 'really, really good trading.'}, {'start': '78.400', 'end': '80.300', 'text': 'If we get through that, you only have to'}, {'start': '80.300', 'end': '82.199', 'text': 'zoom out to see how the'}, {'start': '82.199', 'end': '83.500', 'text': 'reactions are at these'}, {'start': '83.500', 'end': '83.966', 'text': 'levels.'}, {'start': '84.400', 'end': '85.933', 'text': "So if we go through this part here, we've"}, {'start': '85.933', 'end': '87.599', 'text': 'got an open door'}, {'start': '87.599', 'end': '88.699', 'text': 'really all the way to 66.'}, {'start': '89.000', 'end': '91.466', 'text': "So it's a reasonable expectation that if"}, {'start': '91.466', 'end': '92.266', 'text': 'we do get the break to'}, {'start': '92.266', 'end': '93.366', 'text': "the upside, we're going"}, {'start': '93.366', 'end': '94.233', 'text': 'to see a good move.'}, {'start': '94.866', 'end': '97.466', 'text': "And of course, on the downside, we're"}, {'start': '97.466', 'end': '98.199', 'text': 'looking at the middle of'}, {'start': '98.199', 'end': '99.066', 'text': 'the channel around that sort'}, {'start': '99.066', 'end': '100.500', 'text': 'of 63 cent mark.'}, {'start': '100.733', 'end': '102.733', 'text': "So it's got moving averages behind it."}, {'start': '102.733', 'end': '104.599', 'text': 'The preferred move is up here in this'}, {'start': '104.599', 'end': '106.000', 'text': "instance because we've got"}, {'start': '106.000', 'end': '107.199', 'text': 'the moving averages behind'}, {'start': '107.199', 'end': '108.866', 'text': "it and they're going to act as or we"}, {'start': '108.866', 'end': '109.500', 'text': 'would expect that would'}, {'start': '109.500', 'end': '110.966', 'text': 'act as support, even if'}, {'start': '110.966', 'end': '111.599', 'text': 'it does show a little'}, {'start': '111.599', 'end': '112.533', 'text': 'bit of weakness from here.'}, {'start': '113.000', 'end': '114.000', 'text': "Of course, we've got an interest rate"}, {'start': '114.000', 'end': '115.366', 'text': 'decision for the Aussie'}, {'start': '115.366', 'end': '117.199', 'text': 'dollar next week on Tuesday.'}, {'start': '117.833', 'end': '118.766', 'text': "So that's going to make a"}, {'start': '118.766', 'end': '119.800', 'text': 'big difference to the currency.'}, {'start': '119.800', 'end': '121.099', 'text': "I think we're probably hovering around"}, {'start': '121.099', 'end': '122.900', 'text': 'this level for a reason.'}, {'start': '123.199', 'end': '126.033', 'text': 'And if we do get an unexpected change in'}, {'start': '126.033', 'end': '126.833', 'text': 'the interest rate, I'}, {'start': '126.833', 'end': '127.500', 'text': "think we're going to see"}, {'start': '127.500', 'end': '128.500', 'text': 'that dynamic move that'}, {'start': '128.500', 'end': '129.866', 'text': "we're expecting on the Aussie."}, {'start': '130.133', 'end': '132.033', 'text': 'So really not a lot to talk about here'}, {'start': '132.033', 'end': '134.166', 'text': "except that we're in a zone"}, {'start': '134.166', 'end': '135.300', 'text': 'that once it does eventually'}, {'start': '135.300', 'end': '137.333', 'text': 'break out, I think we can see a hundred'}, {'start': '137.333', 'end': '139.366', 'text': 'bit movement either side of this one.'}, {'start': '140.333', 'end': '140.633', 'text': 'All right.'}, {'start': '140.633', 'end': '141.266', 'text': 'US dollar CAD.'}, {'start': '141.966', 'end': '143.900', 'text': 'US dollar CAD has been a little bit more'}, {'start': '143.900', 'end': '144.900', 'text': 'active in the sense that'}, {'start': '144.900', 'end': '146.199', 'text': 'it tries to go higher, but'}, {'start': '146.199', 'end': '147.800', 'text': 'it has pulled back a little bit this way.'}, {'start': '147.800', 'end': '149.366', 'text': "You can see we've had a few issues."}, {'start': '150.066', 'end': '152.300', 'text': 'Last week we were trying to go higher, as'}, {'start': '152.300', 'end': '153.566', 'text': 'you can see, and then'}, {'start': '153.566', 'end': '154.366', 'text': 'it started to fail a'}, {'start': '154.366', 'end': '155.300', 'text': 'little bit towards the end.'}, {'start': '155.300', 'end': '156.199', 'text': "It's found support here"}, {'start': '156.199', 'end': '161.066', 'text': 'again at that 137.80 to 138 area.'}, {'start': '161.833', 'end': '164.400', 'text': "Look, if it's going to be, if this trend"}, {'start': '164.400', 'end': '165.066', 'text': 'is going to be arrested,'}, {'start': '165.066', 'end': '165.833', 'text': 'this is a very important'}, {'start': '165.833', 'end': '167.633', 'text': 'zone because if you zoom right out, you'}, {'start': '167.633', 'end': '168.300', 'text': 'can see that we had a'}, {'start': '168.300', 'end': '169.300', 'text': 'lot of resistance right'}, {'start': '169.300', 'end': '170.400', 'text': 'through this area here.'}, {'start': '170.400', 'end': '170.633', 'text': 'Okay.'}, {'start': '170.866', 'end': '171.966', 'text': 'So, and that resistance'}, {'start': '171.966', 'end': '173.099', 'text': 'has now become support.'}, {'start': '173.633', 'end': '176.333', 'text': 'So if we do see the continued move up,'}, {'start': '176.333', 'end': '177.366', 'text': 'for me, it still has to'}, {'start': '177.366', 'end': '179.400', 'text': 'get above 138.80 to 139'}, {'start': '179.699', 'end': '180.433', 'text': 'to convince me.'}, {'start': '180.733', 'end': '181.800', 'text': "And when I say above it, I'm going to"}, {'start': '181.800', 'end': '182.699', 'text': 'have to close there.'}, {'start': '183.300', 'end': '185.099', 'text': "And even if it does, it's got a 20 moving"}, {'start': '185.099', 'end': '186.400', 'text': 'average right in its face.'}, {'start': '186.733', 'end': '188.066', 'text': 'So that is a bit of a problem.'}, {'start': '188.433', 'end': '190.800', 'text': "It's also got resistance at that 139.50."}, {'start': '191.233', 'end': '192.933', 'text': 'But if we can happen to get through that'}, {'start': '192.933', 'end': '194.699', 'text': 'area, it does open itself'}, {'start': '194.699', 'end': '197.000', 'text': 'right up to a 148.80 move.'}, {'start': '197.199', 'end': '197.400', 'text': 'Okay.'}, {'start': '198.199', 'end': '199.966', 'text': 'Ideally, if you want to scalp it, I think'}, {'start': '199.966', 'end': '200.966', 'text': 'the idea would be to'}, {'start': '200.966', 'end': '201.699', 'text': 'try and get it to the'}, {'start': '201.699', 'end': '202.666', 'text': '20 moving average.'}, {'start': '202.666', 'end': '204.500', 'text': 'So around that 139, I mean, it would'}, {'start': '204.500', 'end': '206.533', 'text': 'probably be about 30 to 20 by then.'}, {'start': '206.599', 'end': '208.633', 'text': 'If it does start to get to move, we are'}, {'start': '208.633', 'end': '211.033', 'text': 'seeing a support level being formed here.'}, {'start': '211.033', 'end': '212.699', 'text': "There's no worries about that."}, {'start': '212.699', 'end': '213.433', 'text': "It's had its chance to"}, {'start': '213.433', 'end': '214.300', 'text': "go down and it hasn't."}, {'start': '214.599', 'end': '216.500', 'text': "So ideally in a perfect world, I'd be"}, {'start': '216.500', 'end': '217.133', 'text': 'looking for scalping'}, {'start': '217.133', 'end': '218.500', 'text': 'opportunities up to the 20 moving'}, {'start': '218.533', 'end': '221.099', 'text': 'average at most up to the 39.30.'}, {'start': '221.766', 'end': '223.933', 'text': 'And at that point, we reassess.'}, {'start': '223.933', 'end': '225.000', 'text': 'If we do get a break above there,'}, {'start': '225.000', 'end': '226.133', 'text': "however, I think we've"}, {'start': '226.133', 'end': '227.266', 'text': 'got some pretty decent moves'}, {'start': '227.400', 'end': '229.500', 'text': 'to the upside as a potential move.'}, {'start': '229.833', 'end': '231.500', 'text': "If we do break down here and we're"}, {'start': '231.500', 'end': '232.599', 'text': 'trading underneath that'}, {'start': '232.599', 'end': '235.833', 'text': '137.80 area with a daily close,'}, {'start': '236.199', 'end': '237.266', 'text': "then we're going to start to look a"}, {'start': '237.266', 'end': '238.166', 'text': 'little bit more dire.'}, {'start': '238.166', 'end': '239.133', 'text': 'But at this stage, I'}, {'start': '239.133', 'end': '240.766', 'text': "think I'd rather the move up."}, {'start': '240.766', 'end': '242.199', 'text': 'I think it makes a bit more sense from a'}, {'start': '242.199', 'end': '243.033', 'text': 'technical standpoint.'}, {'start': '244.300', 'end': '244.599', 'text': 'All right.'}, {'start': '244.599', 'end': '245.866', 'text': 'Over to the US dollar yen.'}, {'start': '246.199', 'end': '247.766', 'text': 'And this one has been one of'}, {'start': '247.766', 'end': '249.000', 'text': 'the stars of the show this week.'}, {'start': '249.000', 'end': '250.599', 'text': "It's been a really, really good move up."}, {'start': '251.099', 'end': '252.266', 'text': 'You can see last week when we were'}, {'start': '252.266', 'end': '253.500', 'text': 'talking here last week, it'}, {'start': '253.500', 'end': '255.033', 'text': 'was around trying to push'}, {'start': '255.033', 'end': '258.199', 'text': 'up past the 144 area.'}, {'start': '258.833', 'end': '260.566', 'text': 'It pulled back like all good trends'}, {'start': '260.566', 'end': '262.033', 'text': 'should do and found'}, {'start': '262.033', 'end': '263.300', 'text': 'support again at the previous'}, {'start': '263.333', 'end': '264.266', 'text': 'support level, which we'}, {'start': '264.266', 'end': '265.199', 'text': "know we've seen before."}, {'start': '266.199', 'end': '268.433', 'text': "And then we've seen a breakout session"}, {'start': '268.433', 'end': '270.099', 'text': "today where we've really"}, {'start': '270.099', 'end': '271.366', 'text': 'broken through all of those'}, {'start': '271.366', 'end': '272.266', 'text': 'levels and pushed all'}, {'start': '272.266', 'end': '274.433', 'text': 'the way to 145.50 really.'}, {'start': '275.000', 'end': '277.400', 'text': "Look what we're really looking at now is"}, {'start': '277.400', 'end': '278.266', 'text': 'a potential inverse'}, {'start': '278.266', 'end': '279.099', 'text': 'head and shoulders, more'}, {'start': '279.099', 'end': '280.733', 'text': 'than a potential is probably going to'}, {'start': '280.733', 'end': '281.966', 'text': 'more than likely play'}, {'start': '281.966', 'end': '283.433', 'text': 'out before we even get a'}, {'start': '283.433', 'end': '284.099', 'text': 'chance to get in.'}, {'start': '284.400', 'end': '285.433', 'text': 'But the inverse head and shoulders over'}, {'start': '285.433', 'end': '287.500', 'text': 'here that certainly'}, {'start': '287.500', 'end': '289.166', 'text': 'reversed a very, very big trend'}, {'start': '289.400', 'end': '290.599', 'text': 'and it is quite possible.'}, {'start': '290.599', 'end': '292.133', 'text': 'This trend was a little bit more subdued.'}, {'start': '292.133', 'end': '294.400', 'text': 'Yes, it was solid all the way down, but'}, {'start': '294.400', 'end': '295.599', 'text': 'not as aggressive as this one.'}, {'start': '295.966', 'end': '297.466', 'text': 'And this one, this head and shoulders'}, {'start': '297.466', 'end': '298.466', 'text': 'reversed this trend.'}, {'start': '299.233', 'end': '300.833', 'text': "Right here, we've got the"}, {'start': '300.833', 'end': '301.766', 'text': 'shoulder head, shoulder.'}, {'start': '302.066', 'end': '303.099', 'text': "It's broken through."}, {'start': '303.099', 'end': '305.333', 'text': 'You can make a case for the move up like'}, {'start': '305.333', 'end': '308.566', 'text': 'that in terms of how the neckline runs.'}, {'start': '309.266', 'end': '312.099', 'text': 'If it does reach its full potential, more'}, {'start': '312.099', 'end': '312.900', 'text': "than likely it's going"}, {'start': '312.900', 'end': '313.500', 'text': 'to be around that sort'}, {'start': '313.533', 'end': '314.833', 'text': 'of 149 area.'}, {'start': '314.833', 'end': '315.500', 'text': 'Still quite a bit to'}, {'start': '315.500', 'end': '316.733', 'text': 'go in terms of profit.'}, {'start': '317.000', 'end': '318.366', 'text': "But yeah, look, it's a"}, {'start': '318.366', 'end': '319.666', 'text': 'very, very strong sign.'}, {'start': '319.666', 'end': '320.633', 'text': "It's got the lightning bolt."}, {'start': '320.633', 'end': '322.466', 'text': 'The most important part of an inverse'}, {'start': '322.466', 'end': '323.300', 'text': 'head and shoulders, of'}, {'start': '323.300', 'end': '324.733', 'text': "course, is that it's actually"}, {'start': '324.733', 'end': '326.000', 'text': 'a lightning bolt coming'}, {'start': '326.000', 'end': '328.400', 'text': 'out of a reversed area.'}, {'start': '328.400', 'end': '329.366', 'text': "And that's the important part."}, {'start': '329.566', 'end': '330.266', 'text': 'Price action gives us'}, {'start': '330.266', 'end': '331.266', 'text': 'everything we need to know.'}, {'start': '331.666', 'end': '332.333', 'text': "So we've got the high,"}, {'start': '332.333', 'end': '333.800', 'text': 'high, high, low sequence now.'}, {'start': '334.500', 'end': '336.166', 'text': 'Even if it turns around here and finds'}, {'start': '336.166', 'end': '337.666', 'text': 'support again above that'}, {'start': '337.666', 'end': '339.833', 'text': "144 to 144, it's sort of"}, {'start': '339.866', 'end': '342.533', 'text': 'the 30 area and the 20 moving average.'}, {'start': '342.533', 'end': '343.966', 'text': 'That would not be a bad thing either.'}, {'start': '343.966', 'end': '345.099', 'text': 'In fact, it would probably be welcomed.'}, {'start': '345.433', 'end': '347.766', 'text': 'So if we do see a pullback and it comes'}, {'start': '347.766', 'end': '348.633', 'text': 'back down to around this'}, {'start': '348.633', 'end': '349.433', 'text': 'level, I think that could'}, {'start': '349.666', 'end': '351.366', 'text': 'be a potential strong buy zone.'}, {'start': '351.733', 'end': '352.699', 'text': "We're just going to look for a smaller"}, {'start': '352.699', 'end': '353.900', 'text': 'timeframe, change your trend,'}, {'start': '353.900', 'end': '354.900', 'text': 'of course, wait for a series'}, {'start': '354.900', 'end': '357.000', 'text': 'of higher highs and higher lows on a'}, {'start': '357.000', 'end': '358.400', 'text': 'smaller timeframe, and'}, {'start': '358.400', 'end': '359.500', 'text': "then we'll be off again."}, {'start': '359.500', 'end': '360.633', 'text': "But I think we've got good opportunities"}, {'start': '360.633', 'end': '363.199', 'text': 'up to 146.50 in the first instance.'}, {'start': '364.099', 'end': '366.099', 'text': 'And then if we get past that level there,'}, {'start': '366.300', 'end': '367.599', 'text': 'the next real level is 149.'}, {'start': '368.033', 'end': '370.199', 'text': 'So a real good turnaround in the end, and'}, {'start': '370.199', 'end': '371.566', 'text': "hopefully you're able to get hold of some"}, {'start': '371.566', 'end': '372.166', 'text': 'of that because it was'}, {'start': '372.166', 'end': '373.033', 'text': 'actually a really good trade.'}, {'start': '374.466', 'end': '376.033', 'text': 'All right, dollar index, another one that'}, {'start': '376.033', 'end': '377.033', 'text': 'is really trying very'}, {'start': '377.033', 'end': '378.466', 'text': 'hard to get above it.'}, {'start': '378.466', 'end': '379.766', 'text': 'And this is also another potential'}, {'start': '379.766', 'end': '381.266', 'text': 'inverse head and shoulders area.'}, {'start': '381.766', 'end': '383.400', 'text': "It's managed to get itself back above the"}, {'start': '383.400', 'end': '384.833', 'text': '100, which is really important.'}, {'start': '385.133', 'end': '386.366', 'text': 'A little bit more work to do.'}, {'start': '386.366', 'end': '387.000', 'text': 'It needs to get above'}, {'start': '387.000', 'end': '389.699', 'text': 'that sort of 170 area now.'}, {'start': '390.099', 'end': '391.833', 'text': 'The 20 moving average needs to be broken,'}, {'start': '391.833', 'end': '392.400', 'text': 'as does this'}, {'start': '392.400', 'end': '393.699', 'text': 'resistance level now, because'}, {'start': '393.699', 'end': '394.966', 'text': 'it was support previously,'}, {'start': '394.966', 'end': '397.000', 'text': "and now it's a resistance level."}, {'start': '397.000', 'end': '399.000', 'text': "So if we can get past that zone, we're"}, {'start': '399.000', 'end': '400.000', 'text': 'going to get the same as'}, {'start': '400.000', 'end': '401.433', 'text': 'the yen in the sense that'}, {'start': '401.433', 'end': '401.900', 'text': "we're going to have a"}, {'start': '401.900', 'end': '403.300', 'text': 'lightning bolt on the way up.'}, {'start': '404.099', 'end': '405.599', 'text': "And if we get that, we're a really,"}, {'start': '405.599', 'end': '406.599', 'text': 'really good show for'}, {'start': '406.599', 'end': '409.366', 'text': 'a 101 80 to 102 level.'}, {'start': '409.666', 'end': '411.000', 'text': 'That would be the inverse head and'}, {'start': '411.000', 'end': '411.566', 'text': 'shoulders pattern'}, {'start': '411.566', 'end': '412.900', 'text': 'confirming, which is great.'}, {'start': '412.900', 'end': '414.266', 'text': 'Of course, we love patterns confirming'}, {'start': '414.266', 'end': '415.800', 'text': 'and proofing themselves.'}, {'start': '416.400', 'end': '418.766', 'text': "But just as importantly, we've got really"}, {'start': '418.766', 'end': '419.533', 'text': 'good price action'}, {'start': '419.533', 'end': '421.233', 'text': 'coming out of what has been'}, {'start': '421.233', 'end': '422.800', 'text': 'a very well defended area now.'}, {'start': '423.199', 'end': '424.433', 'text': "So we really, it's still"}, {'start': '424.433', 'end': '425.633', 'text': 'got a bit of work to do.'}, {'start': '425.633', 'end': '426.933', 'text': "It's got a 20 moving average and"}, {'start': '426.933', 'end': '428.266', 'text': 'resistance level, very heavy'}, {'start': '428.266', 'end': '429.866', 'text': 'one at that to break through.'}, {'start': '430.233', 'end': '432.566', 'text': 'But if we can get past this level, it'}, {'start': '432.566', 'end': '433.300', 'text': 'looks really, really'}, {'start': '433.300', 'end': '435.099', 'text': 'good up to that 101 80.'}, {'start': '435.099', 'end': '435.766', 'text': "So we're looking for a"}, {'start': '435.766', 'end': '436.800', 'text': 'daily close above here.'}, {'start': '437.033', 'end': '438.933', 'text': 'If of course it fails and rolls over here'}, {'start': '438.933', 'end': '439.666', 'text': 'and starts to trend'}, {'start': '439.666', 'end': '440.666', 'text': 'on the lower timeframe,'}, {'start': '441.233', 'end': '443.833', 'text': "lower high and lower low sequences, we'd"}, {'start': '443.833', 'end': '444.800', 'text': 'look at the shoulders as'}, {'start': '444.800', 'end': '445.800', 'text': 'the first target around'}, {'start': '445.800', 'end': '447.866', 'text': 'that sort of 98 and 90 area.'}, {'start': '448.333', 'end': '450.500', 'text': "So that's how the dollar index looks."}, {'start': '450.500', 'end': '451.433', 'text': 'Not too bad at all.'}, {'start': '452.000', 'end': '452.900', 'text': 'All right, over to the euro.'}, {'start': '452.900', 'end': '453.366', 'text': "And of course, we're"}, {'start': '453.366', 'end': '454.033', 'text': 'going to see the inverse.'}, {'start': '454.066', 'end': '456.199', 'text': "We've got a head and shoulders forming 20"}, {'start': '456.199', 'end': '457.566', 'text': 'moving average, propping it up.'}, {'start': '457.566', 'end': '458.033', 'text': "It's basically"}, {'start': '458.033', 'end': '459.300', 'text': 'inverse to the dollar index.'}, {'start': '459.300', 'end': '459.766', 'text': 'Here we go.'}, {'start': '460.366', 'end': '462.900', 'text': 'So if we get a daily close below the'}, {'start': '462.900', 'end': '463.833', 'text': 'trending moving average, and'}, {'start': '463.833', 'end': '464.699', 'text': 'of course, more importantly,'}, {'start': '464.699', 'end': '467.266', 'text': "below that neckline at this stage, we're"}, {'start': '467.266', 'end': '467.699', 'text': 'looking at an'}, {'start': '467.699', 'end': '469.466', 'text': 'opportunity down to around that 109'}, {'start': '469.966', 'end': '471.766', 'text': 'sort of 50 area that would really proof'}, {'start': '471.766', 'end': '472.733', 'text': 'the pattern probably'}, {'start': '472.733', 'end': '473.333', 'text': 'a little bit further.'}, {'start': '473.533', 'end': '474.566', 'text': 'Actually that that target is probably a'}, {'start': '474.566', 'end': '475.199', 'text': 'little bit further than'}, {'start': '475.199', 'end': '476.066', 'text': 'the pattern even goes.'}, {'start': '476.266', 'end': '478.066', 'text': "Because really what we're looking for is"}, {'start': '478.066', 'end': '479.366', 'text': 'the top of the neckline to'}, {'start': '479.366', 'end': '480.800', 'text': 'the bottom of the neckline,'}, {'start': '480.800', 'end': '481.666', 'text': 'sorry, to the top of the head.'}, {'start': '483.033', 'end': '484.833', 'text': 'Okay, and that is'}, {'start': '484.833', 'end': '487.066', 'text': 'replicated on the way down.'}, {'start': '487.533', 'end': '489.466', 'text': 'So that is our target around this level'}, {'start': '489.466', 'end': '490.866', 'text': 'here, which proofs to the'}, {'start': '490.866', 'end': '492.033', 'text': 'resistance at around that'}, {'start': '492.033', 'end': '493.000', 'text': 'sort of 109 50.'}, {'start': '493.300', 'end': '495.199', 'text': "So yeah, it's pretty close actually."}, {'start': '495.533', 'end': '496.500', 'text': "So that's what we're looking for."}, {'start': '497.333', 'end': '499.399', 'text': 'If we get that close below the trending'}, {'start': '499.399', 'end': '500.899', 'text': 'moving average and below'}, {'start': '500.899', 'end': '502.766', 'text': 'this neckline here, okay,'}, {'start': '502.766', 'end': '504.166', 'text': "I'll draw it there just so"}, {'start': '504.166', 'end': '505.199', 'text': "you know what I'm talking about."}, {'start': '505.600', 'end': '506.266', 'text': "That's the neckline."}, {'start': '506.633', 'end': '509.000', 'text': 'If we get a daily close below there and'}, {'start': '509.000', 'end': '509.933', 'text': 'the trending moving'}, {'start': '509.933', 'end': '511.133', 'text': "average, we're going to start"}, {'start': '511.233', 'end': '514.266', 'text': 'targeting that move down to 109 50.'}, {'start': '514.466', 'end': '516.333', 'text': 'So that of course coincides with a'}, {'start': '516.333', 'end': '517.766', 'text': 'stronger dollar index.'}, {'start': '518.000', 'end': '519.500', 'text': 'So yeah, the dollar would obviously be'}, {'start': '519.500', 'end': '521.466', 'text': 'having to move past that'}, {'start': '521.466', 'end': '522.333', 'text': 'level of resistance that'}, {'start': '522.333', 'end': '523.600', 'text': 'we talked about for this to happen.'}, {'start': '523.899', 'end': '525.800', 'text': 'But both of them are primed for it.'}, {'start': '525.800', 'end': '527.466', 'text': "And no surprises that it's none far"}, {'start': '527.466', 'end': '529.233', 'text': 'payrolls in the next 24 hours.'}, {'start': '529.500', 'end': '531.633', 'text': 'And you know, a lot of these generally'}, {'start': '531.633', 'end': '533.366', 'text': 'get to a very close level'}, {'start': '533.366', 'end': '535.133', 'text': 'of, you know, an important'}, {'start': '535.199', 'end': '536.766', 'text': "zone and that there's no difference here."}, {'start': '536.766', 'end': '537.933', 'text': "So this is what we're really looking for."}, {'start': '538.733', 'end': '539.966', 'text': 'And of course, if the dollar index'}, {'start': '539.966', 'end': '540.833', 'text': 'weakens, we look for a'}, {'start': '540.833', 'end': '541.966', 'text': 'bounce off here from the Euro.'}, {'start': '542.366', 'end': '543.333', 'text': "And then we'd be looking at the top of"}, {'start': '543.333', 'end': '544.199', 'text': 'the shoulder that ran'}, {'start': '544.199', 'end': '546.300', 'text': 'that 114 20 area as the'}, {'start': '546.300', 'end': '546.633', 'text': 'target.'}, {'start': '547.633', 'end': '548.000', 'text': 'All right.'}, {'start': '548.000', 'end': '548.766', 'text': "And there's some P 500."}, {'start': '549.199', 'end': '550.433', 'text': "Look, it's been a pretty strong week for"}, {'start': '550.433', 'end': '551.233', 'text': 'it actually tried to'}, {'start': '551.233', 'end': '553.066', 'text': 'sell off in last session,'}, {'start': '553.466', 'end': '554.600', 'text': 'hit the trending moving average and'}, {'start': '554.600', 'end': '555.933', 'text': 'bounced off on GDP'}, {'start': '555.933', 'end': '557.899', 'text': 'numbers, even though they were'}, {'start': '558.500', 'end': '559.066', 'text': 'not that great.'}, {'start': '559.300', 'end': '560.699', 'text': "It's certainly still kicked off."}, {'start': '561.033', 'end': '562.300', 'text': 'Earnings are not too bad.'}, {'start': '562.666', 'end': '564.800', 'text': "Obviously, they're taking the markets"}, {'start': '564.800', 'end': '566.000', 'text': 'taking a pretty good'}, {'start': '566.000', 'end': '567.433', 'text': "liking to what it's seeing at"}, {'start': '567.433', 'end': '567.800', 'text': 'the moment.'}, {'start': '568.433', 'end': '571.100', 'text': 'And very important earnings on coming out'}, {'start': '571.100', 'end': '572.466', 'text': 'in the next or really'}, {'start': '572.466', 'end': '573.300', 'text': 'in the next week and'}, {'start': '573.366', 'end': '574.266', 'text': 'the end of this week.'}, {'start': '574.633', 'end': '575.500', 'text': "But most importantly, we've"}, {'start': '575.500', 'end': '576.800', 'text': 'got non-farm payrolls tonight.'}, {'start': '576.800', 'end': '577.666', 'text': "So I think that's going to really"}, {'start': '577.666', 'end': '579.633', 'text': "determine where we're at"}, {'start': '579.633', 'end': '580.500', 'text': "and how we're traveling."}, {'start': '580.500', 'end': '583.833', 'text': 'If we are trading above 5600 on Monday,'}, {'start': '583.833', 'end': '584.800', 'text': "I'd be looking for long"}, {'start': '584.800', 'end': '586.766', 'text': 'opportunities up to 5850'}, {'start': '586.766', 'end': '588.699', 'text': "from then on because it means it's broken"}, {'start': '588.699', 'end': '590.133', 'text': 'the zone good and proper.'}, {'start': '590.666', 'end': '593.966', 'text': "So any if we're trading above 5600, look"}, {'start': '593.966', 'end': '596.066', 'text': 'for moves up to 5800 in'}, {'start': '596.066', 'end': '596.633', 'text': 'the first instance next'}, {'start': '597.000', 'end': '598.199', 'text': 'week, then on to 5850.'}, {'start': '599.000', 'end': '602.399', 'text': "And if we find ourselves under 5550, I'd"}, {'start': '602.399', 'end': '602.899', 'text': 'be looking for'}, {'start': '602.899', 'end': '604.066', 'text': 'shorting opportunities down to'}, {'start': '604.066', 'end': '605.166', 'text': 'the trending moving average.'}, {'start': '605.166', 'end': '606.333', 'text': 'Pretty straightforward, really.'}, {'start': '606.633', 'end': '607.600', 'text': 'Give way to a non-farm'}, {'start': '607.600', 'end': '609.866', 'text': 'payrolls comes out under 5550.'}, {'start': '609.866', 'end': '612.466', 'text': "We're looking for moves down to the"}, {'start': '612.466', 'end': '614.399', 'text': 'trending moving average around that 5450.'}, {'start': '614.833', 'end': '616.433', 'text': "And if we're trading above 5600 on"}, {'start': '616.433', 'end': '617.699', 'text': "Monday, I'd be looking at"}, {'start': '617.699', 'end': '619.600', 'text': '5800 as the next target.'}, {'start': '619.600', 'end': '621.033', 'text': 'So pretty straightforward trading for'}, {'start': '621.033', 'end': '621.766', 'text': 'next week, once'}, {'start': '621.766', 'end': '623.566', 'text': 'non-farm payrolls and a lot of'}, {'start': '623.566', 'end': '624.033', 'text': 'these important'}, {'start': '624.033', 'end': '625.533', 'text': 'earnings are out of the way.'}, {'start': '626.133', 'end': '626.766', 'text': "So I hope you've had a"}, {'start': '626.766', 'end': '627.533', 'text': "great week's trading."}, {'start': '627.533', 'end': '629.633', 'text': "We've had some really good moves on all"}, {'start': '629.633', 'end': '630.899', 'text': 'the things that we look at each week.'}, {'start': '630.899', 'end': '632.433', 'text': 'And of course, some of the support and'}, {'start': '632.433', 'end': '633.433', 'text': 'resistance is holding up'}, {'start': '633.433', 'end': '634.399', 'text': 'like it is on the Aussie.'}, {'start': '634.600', 'end': '636.300', 'text': 'So trade carefully in front of non-farm'}, {'start': '636.300', 'end': '637.100', 'text': 'payrolls, of course.'}, {'start': '637.399', 'end': '638.399', 'text': 'Have a fantastic weekend.'}, {'start': '638.699', 'end': '639.199', 'text': 'I look forward to'}, {'start': '639.199', 'end': '640.300', 'text': 'seeing you all next week.'}]