Both the USDCHF and AUDUSD produced a negative BEAR TREND ACCELERATION signals. In this technical state expectations are that the MKT will continue to hold negative structure and will accelerate to the downside.
AUDUSD
AUDUSD will remain vulnerable to the offer with all trading below the 7893 Inflection Pivot. This is the optimal entry area for any new sales. A break under 7780 support is a fresh negative that puts the 7668 support target in play. 7441 is the extended target for any new leg lower.
A breach of 7900-7893 negates the signal putting the MKT back in a difficult digestive trade up to 8119.
USDCHF
The USDCHF has produced a BEAR TREND ACCELERATION signal but may be a little ahead of itself. Key off the 10884 Inflection Pivot for an indication of the session tone. Below here the signal is in play and the MKT threatening. 10708 is the base supporting any new weakness if the the cross is going to bounce back into a neutral posture. A break under this support is needed to confirm the negative signal targeting 10371 on any downside follow through.
A rise above 10884 negates the signal confirming this MKTs intentions o going nowhere.
JS
This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.
