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How Low can JPY Go? Free Signals. Brent Crude Oversold.

   

Welcome to this week’s Market Blast Technicals.

I’m Brad Alexander and on behalf of Valutrades, today we will look at Brent Crude (UK Oil), Gold (XAUUSD), and AUDJPY.

 

Yesterday we looked at JPY pairs and the overall weakness of the Yen on these Daily charts.Screenshot 2021-10-19 at 11.07.06

Screenshot 2021-10-19 at 11.07.34Price action is on a one-way street and most pairs have broken through key levels of resistance.Screenshot 2021-10-19 at 11.07.47

We are monitoring AUDJPY as price action has reached a previous level of resistance from March of this year and the neckline from this head-and-shoulders pattern from 4 years ago.Screenshot 2021-10-19 at 11.08.03

Gold seems to be struggling to find direction these days, but we see that price action has bounced off this lower trend line but we will keep an eye on our Stochastic Oscillator which is heading into Overbought territory.

The MACD indicator may be telling us to expect a Ranging Market as we mentioned in last week’s video.Screenshot 2021-10-19 at 11.08.27

And, don’t forget to try out Valutrades Signals and you can find information on the website or on the YouTube card on the screen now.

Brent Crude fell yesterday to fill this weekend price gap and we hope you spotted this double top and took advantage when price action broke the neckline into this potential Cup-and-Saucer pattern.Screenshot 2021-10-19 at 11.08.55

Price action has just bounced off this lower trend line and the Stochastic Oscillator is moving from Oversold.

Thanks for watching and don't forget to subscribe to our YouTube Channel and register on the Valutrades website to get notifications on new content as it happens.

That’s all for now.  Happy trading with Valutrades and we will see you later in the week with our trading tips video.

CFDs and FX are leveraged products and your capital may be at risk.19 October EN TN

 

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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