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Trading Long on the Dow Jones (US30). Trading Short NZDUSD.

   

Welcome to this week’s Market Blast Technicals.

I’m Brad Alexander and on behalf of Valutrades let’s take a look today at EURCHF, NZDUSD, NZDJPY, the S&P500, and the Dow Jones Industrial Average (US30).

We hope you were watching yesterday when we pointed out this opportunity to go long on the S&P 500.

Price action has now reached this key level and a breakout could see us reach the all-time highs again.Screenshot 2021-06-22 at 10.02.16

There is still room to move on the Dow Jones Industrial Average as we can see on this Daily chart where we had the last swing high earlier in the month and the all-time high in May.Screenshot 2021-06-22 at 10.02.24

Very often, we do a “Strong vs Weak” analysis and we note that the USD and JPY are strong this week and currencies like the NZD are weaker.

That presents us with some opportunities like this one on NZDUSD where we see a pullback from the current downtrend and the Stochastic Oscillator has turned from overbought.Screenshot 2021-06-22 at 10.02.43

We see an almost identical situation with NZDJPY.Screenshot 2021-06-22 at 10.02.52

A pair to keep an eye on would be EURCHF with price action just touching this upper trend line on the Daily chart and the Stochastic Oscillator about to turn from overbought.

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.22 June 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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