Market Analysis – October 3, 2016

Start-of-Week Market Analysis – October 3, 2016

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Here’s a quick summary of the market. Naturally, the market can change quickly and dramatically so it’s important to regularly monitor markets. The market analysis video has more insights but the following is a quick summary;

* GOLD: Short with a new Daily Downtrend emerging but Long if price is supported by 1307.64
* EURUSD: Long if price closes above 1.1270 otherwise rangebound between 1.1270 and 1.1098
* GBPUSD: Short unless a new H4 uptrend forms and as long as 1.2801 is broken, otherwise possibly rangebound
* EURGBP: Long provided that price remains above 0.8636
* AUDUSD: Rangebound between 0.7676 and 0.7533 unless it closes above 0.7676

marketanalysis-oct3-2016

* NZDUSD: Short while remains below 0.7369
* AUDNZD: Long provided price stays above 1.0492
* USDCAD: Long provided price remains supported above 1.3062
* USDCHF: Long provided price breaks & closes above 0.9751
* USDJPY: Long as long as price pushes and remains above 101.65
* EURJPY: Long provided price remains above 113.61
* GBPJPY: Consolidating between 133.48 and 128.80 within overall downtrend
* AUDJPY: Long provided the current H4 upward trend remains in place
* NZDJPY: Consolidating with possible upward move to 74.26
* CHFJPY: Long if upward swing within current H4 uptrend. Must close above 105.09 to continue long
* CADJPY: Long while price remains above 76.78
* EURAUD: Long provided price closes above 1.4705
* GBPAUD: Short while current 4-hour downtrend remains
* EURNZD: Long while price remains above 1.5410
* GBPNZD: Short unless price rebounds off 1.7707 and a new H4 uptrend forms
* GBPCHF: Short while price remains below 1.2647
* AUDCAD: Short While price remains below 1.0048
* EURCAD: Short while in current 4-hour downtrend
* GBPCAD: Short while price remains below 1.7192

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The Traders Elite Team

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