USD/CAD

USD/CAD, the 5 wave minor structure still intact. we reached as high as 1.0980 before the correction down to 1.0850 – 1.0850, the close of last week at 1.0891 give us a hope that we are on our way to 1.1010 – 1.1020 which we should see wave 5 structure complete ( Minor ).

The long from 1.0750 and 1.0860 still intact, all stop-loss should be moved to 1.0840 and hold. Again we will see some volatility this week, just keep that in mind, as long as we are covering profits we are good to good, even if the pair came down to 1.0840, this trade is in good standing.

USD/CAD

US CRUDE OIL

US CRUDE OIL, last post I stated that crude oil short sell from 103.76 and remain a sell down to 96.68, target has been reached for 700 points in this trade, crude oil went all the way down to 95.26 last week, and made a pull back before the week finish up to 97.41  and close the week at 97.05.

This was a good trade too, now we have 98.03 and 99.14 to watch and act as resistance, the pull back last week was backed up by the tension between Ukraine and Russia, we see some volatility in crude oil this week, so keep an eye on 98.03 and 99.14.

 

DOW JONES INDUSTRIAL.

Dow Jones Industrial , My last post was short from 17100 and under and it did work, Dow went down all the way to 16333 before the pull back that is taking place now, the down move was for 700 points, it was very nice but not an easy move.

Since the beginning of August Dow seeing a nice pull back up, last week reached as high as 16775 and closed the week at 16662. the are we have to watch now is 16910 – 16800 to act as resistance, if this area broken again, Down will continue up to 17250 and 17500.

If this ares hold any further advance we will see a second leg down to 16200 and 15500, breaking under 16200 is the key to continue the down move to 15500. Over all trend as of last week close remain bullish.

Dow Jones Indutrial

NZD/USD OUTLOOK

NZD/USD, the down move from 0.8790 last month was a nice move down all the way to 0.5407, again I remain bearish on this pair with an eye on 0.8535 as resistance.

First short trade I posted last month was very successful for 345 pips, now 0.8535 is the key to hold to continue the down move,  break of 0.8401 will confirm the next the next leg down to 0.8168. Kiwi have 3 important fundamental news tonight, I am keeping an eye on it, to confirm what will happen next.

NZD/USD

 

US DOLLAR INDEX

July to mid August, The dollar index rose to 81.72, the bullish head and shoulder moved very nice up to 81.72 before pulling back last week to 81.42. I remain bullish on the dollar index with an eye on 81.26 to hold to continue the up move.

This week is full of very important fundamental news coming from UK, Europe, we will see choppy trades during the week until Friday, Housing starts and permits are the main focus for this week events, keep and eye on them they will move the market.

I am looking for a bounce from 81.26 to continue the up move, to 82.20 and higher, all will depend on how strong US fundamental new will be this week. Don’t forget the Kiwi and Aussie, they are moving according to the set up I have posted last month and we are in the green big time since the posts.

US Dollar Index