Australian Stock Index, ASX200, Monthly Candlesticks & Ichimoku Chart

The Australian Stock Index (ASX200) tried to break into the monthly Ichimoku Cloud but failed so far. It will be coming under pressure in days ahead as early redemption for their retirement Superannuation fund will lead to more selling for cash by the asset managers.

Source: tradingview.com

Vee, our Founder/CIO highlights patterns/formations on selected chart(s) every week which may have the potential to turn into trading opportunities. These charts are first sent out on Monday of the week to the TRACKRECORD COMMUNITY which helps them to filter out the noise and condense only what’s important in the markets for the week ahead.

Disclaimer: The views and opinions expressed in this material do not constitute a recommendation by TrackRecord Pte. Ltd. that any particular investment, security, transaction or investment strategy is suitable for any specific person. No part of this material may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of TrackRecord Pte. Ltd

Gold (XAU/JPY) Daily Candlesticks & Ichimoku Chart

The sell-off in Gold vs JPY due to deleveraging seems to have run its course. The second correction was shallower than the first and it now seems poised to break to new highs.

Source: tradingview.com

Vee, our Founder/CIO highlights patterns/formations on selected chart(s) every week which may have the potential to turn into trading opportunities. These charts are first sent out on Monday of the week to the TRACKRECORD COMMUNITY which helps them to filter out the noise and condense only what’s important in the markets for the week ahead.

Disclaimer: The views and opinions expressed in this material do not constitute a recommendation by TrackRecord Pte. Ltd. that any particular investment, security, transaction or investment strategy is suitable for any specific person. No part of this material may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of TrackRecord Pte. Ltd

DXY(USD Index) Weekly Candlesticks & Ichimoku Chart

The USD Index (DXY) has rebounded strongly off the weekly Ichimoku clouds. Trump, in his press briefing on Monday, mentioned that the strong USD indicates that foreign investors love to invest in the US & the govt should take advantage of that to borrow money and get started on his infrastructure plan. He used to whine a lot about a strong USD but has come to embrace it as a plus. What stops the USD from going higher against other fiat currencies now?

Source: bloomberg.com

Vee, our Founder/CIO highlights patterns/formations on selected chart(s) every week which may have the potential to turn into trading opportunities. These charts are first sent out on Monday of the week to the TRACKRECORD COMMUNITY which helps them to filter out the noise and condense only what’s important in the markets for the week ahead.

Disclaimer: The views and opinions expressed in this material do not constitute a recommendation by TrackRecord Pte. Ltd. that any particular investment, security, transaction or investment strategy is suitable for any specific person. No part of this material may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of TrackRecord Pte. Ltd

Gold (XAU/USD) Weekly Candlesticks & Ichimoku Chart

With almost every central bank now ready to print unlimited amounts of money to support the financial system, fiat money will depreciate against hard assets over time. The deleveraging flows that led to Gold selling off should be mostly complete. Dips will be bought going forward.

Source: bloomberg.com

Vee, our Founder/CIO highlights patterns/formations on selected chart(s) every week which may have the potential to turn into trading opportunities. These charts are first sent out on Monday of the week to the TRACKRECORD COMMUNITY which helps them to filter out the noise and condense only what’s important in the markets for the week ahead.

Disclaimer: The views and opinions expressed in this material do not constitute a recommendation by TrackRecord Pte. Ltd. that any particular investment, security, transaction or investment strategy is suitable for any specific person. No part of this material may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of TrackRecord Pte. Ltd

Australian 10-year Bond Future Daily Candlesticks & Ichimoku Chart

After the panic selling of the 10yr bond future (yield spiked nearly 130bp) on news that RBA will do unlimited Quantitative Easing to bring the 3yr bond yields to around 0.25% (currently -0.30%), the bond markets have stabilised, with yields ready to resume the race to zero. Bond futures will continue to push higher.

Source: bloomberg.com

Vee, our Founder/CIO highlights patterns/formations on selected chart(s) every week which may have the potential to turn into trading opportunities. These charts are first sent out on Monday of the week to the TRACKRECORD COMMUNITY which helps them to filter out the noise and condense only what’s important in the markets for the week ahead.

Disclaimer: The views and opinions expressed in this material do not constitute a recommendation by TrackRecord Pte. Ltd. that any particular investment, security, transaction or investment strategy is suitable for any specific person. No part of this material may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of TrackRecord Pte. Ltd

CAD/JPY Weekly Candlesticks & Ichimoku Chart

With equities under pressure from the relentless spread of Covid-19, CADJPY was already in trouble. Adding the oil price war into the mix, this pair is likely to test new lows in time to come.

Source: tradingview.com

AUD/USD Monthly Candlesticks & Ichimoku Chart (Top) & AUD Current Account (C/A) Balance (Bottom)

The conventional economic theory is that currency strengthens when C/A surplus increases. In my career, I’ve observed this to be untrue for AUD. The times when C/A deficits increased (2002 onwards), many market observers were bearish AUD and took it as a sign that AUD should be lower. However, AUD powered ahead relentlessly. In 2008, the pattern was repeated both on the weakening and rebound of AUD. Since 2015, C/A deficit has been narrowing and the currency has been weakening. I have no clue if it is correlation, causation or coincidence. It could just be economic data causing all the fundamentalists having the wrong position in AUD or the currency causing the C/A moves. I’ll leave the explanations to the experts on theory. The C/A became positive in the last two quarters, and the charts look bearish (per last week’s chart). The observation has worked for me in the past, so I’ll keep doing what’s worked until it doesn’t!

Source: tradingview.com

Source: tradingeconomics.com

Vee, our Founder/CIO highlights patterns/formations on selected chart(s) every week which may have the potential to turn into trading opportunities. These charts are first sent out on Monday of the week to the TRACKRECORD COMMUNITY which helps them to filter out the noise and condense only what’s important in the markets for the week ahead.

Disclaimer: The views and opinions expressed in this material do not constitute a recommendation by TrackRecord Pte. Ltd. that any particular investment, security, transaction or investment strategy is suitable for any specific person. No part of this material may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of TrackRecord Pte. Ltd

AUD/USD Weekly Candlesticks & Ichimoku Chart –   SHORT  

AUD/USD has broken to new lows below 0.6660. With the world economy likely to be significantly impacted by the Covid-19 situation, a test of 0.6000 seems likely from both the fundamental and technical perspective.

Vee, our Founder/CIO highlights patterns/formations on selected chart(s) every week which may have the potential to turn into trading opportunities. These charts are first sent out on Monday of the week to the TRACKRECORD COMMUNITY which helps them to filter out the noise and condense only what’s important in the markets for the week ahead.

Disclaimer: The views and opinions expressed in this material do not constitute a recommendation by TrackRecord Pte. Ltd. that any particular investment, security, transaction or investment strategy is suitable for any specific person. No part of this material may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of TrackRecord Pte. Ltd