Intermarket Weekly Analysis

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Chart of The Day $USDJPY 09-07-2016
On the USDJPY daily chart we see a move to important resistance zone for downside continuation. We expect another test of 101 and even 99.600 in the coming days. If we see a break below 99.600 it will mean that the pair is continuing lower to the lower Pitchfork channel line. This days we had a lot of talks from BOJ officials [URL ] about monetary policy but we have witnessed two times already that BOJ action actually led to a YEN strength not weakness.

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Chart of The Day $NZDUSD 09-07-2016
On the NZDUSD daily chart we see a break above the Pitchfork channel which is driving the pair higher into 0.7670 major horizontal resistance from Sep.2014 broken top. Upside momentum is quite strong and with this week follow trough we could easily see rise above 0.7500 soon. Strong support is 0.7400.

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Chart of The Day $SILVER 09-09-2016
On the Silver daily chart we see a bullish formation with upside 200 resistance which needs to be broken for further upside into 220 and higher. Strong support is 180 level and with that level intact we see only upside continuation.

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Chart of The Day $S&P500 09-12-2016
On the S&P500 daily chart we see a retrace to support zone 2100-2120 where we expect a hold after Friday liquidation caused by increased market volatility and rise in liquidity after Holiday season is over. We expect a bounce from this zone to at least 2200 in the coming days.

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Chart of The Day $SILVER 09-15-2016
On the Silver daily chart we see a strong support and the area from where bounce is expected for another test of range high 204. This zone 180-200 needs to hold for the upside momentum to be intact.

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Chart of The Day $AUDUSD 09-16-2016
On the AUDUSD daily chart we see a strong bounce from 0.7400-0.7450 zone and is back above 100 SMA and we expect a bounce to at least 0.7600 and possible extension to 0.7700 which is range high where we could see a break out or another range move. This range is narrowing and the break is near. With the FED interest rate decision next week and a greater probability of no rate hike this could be a bullish break.

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Chart of The Day $GBPUSD 09-19-2016
On the GBPUSD daily chart we see a test of lower wedge line 1.2930-1.2980 zone and a hold of this level would mean that we could see an upper wedge line test again 1.3250 level this time. Downside continuation will be warranted only in case of a break and follow through below 1.2800.

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Chart of The Day $EURJPY 09-20-2016
On the EURJPY daily chart we see a test of lower triangle line 113 level and ahead of BOJ this triangle is squeezed and is getting ready to break out. Downtrend is still valid and will be invalidated only on a break of 121.900 level higher it is also a 200 SMA.

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Chart of The Day $USDCHF 09-22-2016
On the USDCHF daily chart we see a hard rejection of an upper triangle line 0.9810 level and now the pair is moving inside this large triangle breaking out from a flag. Downside support now is 0.9730-0.9750 zone and a strong resistance down to be tested is 0.9650 level.

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Chart of The Day $NZDJPY 09-26-2016
On the NZDJPY daily chart we see a test of lower triangle support line 73 level. Staying above that level would mean that we could have another range triangle move up. If we get a break of this level there is only 72.500 level of horizontal resistance to the downside. If we get a bounce from this level we could see another test of 74-75 zone.

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Chart of The Day $Gold 09-27-2016
On the Gold daily chart we see a test of the upper flag line 1350 break out for the upside level. If we get a daily close above this level it will mean that this three months range is over and there will be upside momentum continuation. If there si rejection of this level then we could see another move to 1310 level before a resolution of this flag.

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Chart of The Day $USDCAD 09-28-2016
On the USDCAD daily chart we see another failed test to break 1.3240 and 200 SMA with hard rejection yesterday, and now it seems that the pair is making a double top with the neckline at 1.3000. If this neckline is broken this will be confirmed pattern with targets much lower and with a hard downside resistance at 1.2900.

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Chart of The Day $GBPUSD 09-30-2016
On the GBPUSD daily chart we see that the pair is sitting on a lower wedge line 1.2930 level and testing it for the third time. We expect another inside wedge move to the higher wedge line 1.3140-1.3200 zone. The range is narrowing.

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Chart of The Day $GBPCAD 10-03-2016
On the GBPCAD daily chart we see a rejection from 1.7400 upper Pitchfork channel line and is testing median line 1.6960 and in case of a break of this level we could see extended downside opened to 1.6400. Invalidation of this downside range move only on a break of 1.7200. CCI indicator is near a break out of uptrend line from July.

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Chart of The Day $USDSEK 10-04-2016
On the USDSEK daily chart we see a rejection from 8.6000 level upper Pitchfork channel line for the second time and a possible double top formation. Invalidation of this view only in case of a break above 8.6500. Hard downside resistance is 8.4500 level and a possible neckline of a double top 8.3300.

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Chart of The Day $EURGBP 10-05-2016
On the EURGBP daily chart we see a test of the flag formed and a rise above previous high for the Year 0.8726 level. This is hard resistance level 0.8840 and only a confirmed close above this level would call to a further upside continuation. Buyers should be careful here and sellers have a good RR trade possibility.

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Market watch – free trade recommendation $EURGBP 10-06-2016
On the EURGBP chart there is an expanding wedge to the upside. With the recent range trading conditions in the market we are encouraged to take counter trend range trade and to publish it free. The pair is touching the upper wedge line and the Pitchfork channel line and we expect rejection here.

Recommended trade size 10.000 units 0.1 mini lot, or adjusted to your risk profile and money management.

Sell at the market with SL (stop loss) at 0.8970 and 0.8460 TP (take profit). RR (risk reward is 1:2.5)

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Chart of The Day $Silver 10-07-2016

On the Silver daily chart we see that the pair has reached strong support 200 SMA 17.30 level. This support needs to hold for the upside continuation. 61.8% Fibo retracement 16.80 level is next support.

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Chart of The Day $Gold 10-10-2016
On the Gold daily chart we see that instrument is hovering below 200 SMA 1270 level. Support zone is from 1230-1250. Gold need to overcome 1270 level for the upside continuation and invalidation of the recent medium term uptrend will be only in case of close below 1220 level.

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Chart of The Day $USDCAD 10-10-2016
On the USDCAD daily chart we see the pair rejected for the third time by upper rising wedge line this time 1.3300 level and is now locked in a tight range 1.3100 and 1.3300. We need to see a break below 1.3100 for a test of lower wedge line 1.2900 level. This level now is the only resistance left before the 1.2400 lower.

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