Hi friends,
How are you today?
I hope that all is ok. Today I want to explain why you shouldn’t be the man in the picture 🙂
Don’t let the market lie to you!
Yesterday I shared with you my opinion how the EURUSD will continue its down move. Today, I want to share with you further bearish opinions I have. It’s about AUDUSD and S&P500.
AUDUSD –
I think that the pair is going to make a last attempt to create a high and start it’s next wave of bearish market, somewhere in between the next 2-5 weeks. Let me explain how it could happen.
Here is a daily chart:
As you see there are two ways for the down move to start. The first is the last push up up to 1.04, maybe little lower and maybe even little bit higher, but that’s the levels to watch.
The second way it could happen is a break of the trend line and RSI to cross it’s trend line and 50 level down.
It doesn’t matter which of the scenarios will happen, I think that we are about to have the next down move soon.
S&P500 –
Here is the daily chart:
Pretty much the same story as the AUDUSD. We have a channel which could break down and begin the next leg of the down move and from other side we can have a bullish push up for last run and then we will get good down move based to the divergence cycle.
These two are just small part of the many opportunities that the market provides.
Enjoy these days, make sure to be in, and most important – HAVE PATIENCE!!!
Yours,
Vladimir Ribakov
