Our FX Portfolio has been shared for last week

The beauty of technical analysis is it just super sedes all news and fundamental analysis. Charts are the epitome of technical analysis. They have a tremendous ability to predict. A skillful charter can easily be making millions in income a year. The fundamental analyst who will argue for Germany to save EUR when it dips 1.25 will be held holding bag as charts argue the technical case for a weaker EUR over the next few weeks and months. It may still retrace though but till the time it stays below 1.31, we are headed much much lower. The fundamental analyst need to have over 30 ears to keep track of who is saying what which is probably why there are hardly any of this class of analysis. Forex markets are not meant for fundamental analysis. That best fits with venture capital where Investment cycle spawn over 5-12 years. Fundamental analysis has no place in the fast moving world of forex markets. So if you are one, start thinking of learning a few charts and patterns and so on if you do not want to make a fool of yourself.

On this Sunday morning, we belt out a few of our staple charts and analysis. As always the passionate among you are going to open these charts even on a sunday and start being ready for Monday. Please note that there are over 15 charts on this update and more may be added as we near tomorrow market open.

 

ES (SPX Emini futures)

Daily Setups

ES daily is hanging in the middle of no where. Our guid till now has been the volume hole at 1320 to 1330 which has been constantly filling up over the last few days. Remember our posts in April when we had to looked to this hole as a means for ES to target in case of a major move down. Little did we know that we would be proven correct in less than 2 weeks.

There are multiple things to note here:
1. 1272 is acquiring some kind of celebrity status as MAs and lower boundary of BB(100,2) is converging.
2. 1350 is starting to look like the confluence point on the upside.
3. 1288 may be an intermediate stop over in case ES decides to take down 1300

Right now ES daily has no trade to convince us.

Weekly Setups

ES weekly rebounded of its mid 25,2 Weekly BB line at 1327. The fall has been arrested at 1314.5. Again the big level down is 1269 which is also close by to the 1272 confluence on the daily.

 

 

Forex Setups

 

Dollar Index Setups

You need to be a subscriber with Captial3x Trading portfolio or Combined Indicator member to read on….. Subs have access to all the market analysis (Copper,BDI, Gold, US treasury, EU bond markets) and FX setups which also feature our FX portfolio. You also have access to Trade Room of Capital3x.

That rounds it off for now. There may be more updates tonight but that is a function of any new setups to be spotted.

Mark

1. The May Live Trade Sheet
2. The May Live Trade Room
3. C3X Performance FX portfolio
4. The Bond auction schedule can be found here: Bond schedule
5. The speaker schedule can be found here: Speaker schedule

The Capital3x forex Indicator links are provided here:

1. Falconfx EUR/USD
2. Falconfx EUR/JPY
3. Falconfx USD/CAD
4. Gladiator ES