As you can see from the one week performance comparison, equity indices were mostly bullish, although the CBOE volatility index (CBOE) increased as well, signalling more volatility in the stock markets for the days ahead.
The Nikkei once again was the top gainer, this time together with the other Asian markets. The European markets remained at the bottom, mostly flat.
The AUD/USD has indeed pulled back to test the resistance, and is now hovering around the 20-EMA. If it is unable to break above that, a good bearish candle will be a good signal to go short. USD/JPY has continued to break new highs, and we are now trailing our risk-free trades to get the most profits out of this. Gold (XAU/USD) had a strong spike up on Friday, we will monitor to see if the momentum carries on for the week ahead.
Follow-up from last week’s market updates & stock picks
Due to the general market correction last week on the US and HK markets, not many buy entry signals were triggered for that week. Instead, we saw pull backs to major supports, which could soon provide a 2nd entry with lower risk.
Hands-free Trading (HFT) opportunities for the week ahead:
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Note: The best opportunities are highlighted in dark green (buy) & dark red (short) under both the “Break” and “Swing” column. Disclaimer applies.
Good luck! And happy trading! $$$ 😀
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