Some breakout setups with forthcoming trending weekly pivots are in place for the week in the euro, pound, crude oil, gold by pivot and range math, and the Aussie by daily narrowed range breaking higher. Going long the Aussie, crude and gold today (Friday) are weekly-expiration, daily candlestick trade ideas. Some bear moves started Thursday, hit moving averages below for a countertrend bounce, and wave three drops could be the second bear attack/short trade in the yen, euro and soybeans. The British poundound appears “long-it” bullish after a lower price prints/reverses.
I envision this coming week’s news headlines mentioning crude oil and gold rallies, plus the S&P500 making higher highs.
Regarding last week’s predictions/outcomes relative to Friday’s closing price, I wrote that gold, The euro and yen may continue their behavior, and all three continued their upward direction and made <2 major turns (trending). I shared that the yen, soybeans and bitcoin charted bearish to me, and all three took out Friday’s close and lows. I suggested these as breakout candidates: the trending Euro(+1.5%; top-turned back down), Gold(+1.35%), Soybeans(-1.3%), and trending Bitcoin (-15%). The S&P 500 long position worked in varying degrees depending on the trading instrument/options expiration chosen and is climbing. My technical curiosity number of 1.2396 dual Euro and Bitcoin number was a repeated Euro chart price magnet/equilibrium but bitcoin too weak to reach it.
For current technical curiosities, yen and soybeans stopped on highs at monthly camarilla pivots. Also, the Aussie did a weekly 50-, 20- and 200-period simple moving average bullish breakout from a narrow range in three timeframes. Join it, if you feel/see it! The euro shows a two-month narrow range with equal pivots for a four-week breakout, maybe the downside can one do a long call spread above and a long put below?
Next Week’s (March 16) Predicted Ranges
High: 2834- 2815/Low: 2725-2691
High: 9473-9400/Low: 9316-9282
High: 1.2454-1.2368 Low: 1.223-1.216
High: $1,340-$1,335/Low: $1,318-$1,306
High: $63.85-$62.65 Low: $62.70-$58.50
High: 1.405-1.398 Low: 1.376-1.367
High: .7900-.7881Low: .7804-.7748
$10.52 Low: $10.28-$10.20
High: $10,082- $11,800 Low: $10,280-$7,082
Past Week’s (Ending Mar. 9) Projected & Actual ranges
High: 2740- 2725/Low: 2633-2595 Actual 2774-2663
High:9565-9505/Low: 9350-9260 Actual 9501-9346
High: 1.2450-1.237/Low: 1.224-1.216 Actual 1.246-1.227
High: $1,348-$1,333/Low: $1,312-$1,295 Actual $1342-$1313
High: $63.75-$62.65/Low:$60.53-$59.16 Actual $63.28-$59.95
High:1.399-1.388/Low:1.372-1.360 Actual 1.393-1.377
High: .7887-.7842/Low: .7720-.7657 Actual .7842-.7726
High: $10.95-$10.82/Low: $10.46-$10.35 Actual $10.82-$10.50
High: $12,396- $11,800 Low: $10,280-$9,500 Actual: $11,710-$8,380