Gold Weekly Review
Wave Analysis
During the previous week on Thursday, Gold rallied strictly to the upperside and is still above 1929.89. As long as the price remains above this zone, we are looking for long term buy position expecting price to move much higher towards 1972.92. If you are on this chart, expect a possible breakout above 1972.92 towards 2005.87. And on the flipside, should the price breakout below 1929.89, then this will be a good place to consider a possible long term sell position with an ideal target set around 1892.20.
Trade Recommendations:
Wait for a rebuy from 1929.89 towards 1892.92.
NZDJPY Weekly Review
Wave Analysis
During the [previous trading week, NZDJPY rallied but could not reach any significant level except the lower trendline. As it is now, if the price breaks and closes above the zone 70.528-70.417, then this will be a good place to consider a possible buy position. The anticipated buy position is the continuation of the impulsive wave (E) to the upperside and should head straight towards the upper trendline, a breakout above this zone will push the price much higher with an ultimate target at 72.075.
Trade Recommendations:
Buy a clear breakout above 70.528 towards 72.075.
HSI Weekly Review
Wave Analysis
During the previous week, Hong Kong stocks index rallied to the upperside but could not reach the upper trendline. As it is now, we are looking for long term buy positions expecting price to move much higher towards the upper trendline and could move out much higher. If the price breaks and closes above this trendline, then further momentum much higher is expected. A rebound from the upper trendline will mean we are looking for long term sell position towards the lower trendline.
Trade Recommendations:
Look for long positions towards the upper trendline.
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