21 December 2017 - techfxtraders.com · -We are long EURUAUD from 1.5445 after the cross held and began a rebound from the area of trendline support –an area where strong rallies

21 December 2017

221 December, 2017

TECHFX TRADERS ANNOUNCEMENT

TECHFX TRADERS would like to take this opportunity to wish our clients and their families a very safe and happy holiday period and all the

best for 2018. TECHFX TRADERS reports and updates will continue through until the end of December, apart from the public holiday dates.

However we wish to advise we will be taking two weeks off from January 1 until January 13.

When we recommence in mid-January TECHFX TRADERS will continue to provide a professional technical report with some modifications to

to the existing service. Given the current low volatility across asset classes there seems to be less need for five reports per week. Hence we

will reduce the number of reports to three times per week. Our Weekly report will continue as per usual on Sunday with updates to follow

on Tuesday and Thursday mornings. We will continue to highlight trade ideas including suggested entry levels, stop loss’s and profit targets.

The pricing for the reports will be reduced to 50$ per month.

As you may have noticed in recent reports we have also looked to find opportunities outside of FX in asset classes such as Gold, Oil, Dax and

and S&P500 where there are established trends in place and therefore better trading opportunities. We also intend to start covering some

cryptocurrencies early in the New Year.

Thankyou again for your support in 2017 and if you do have any questions or concerns please email me on [email protected].

321 December, 2017

Morning Comment- Overnight the US House of Representatives as expected approved the final version of President Trumps Tax Bill. Nonetheless S&P500 traders were

content to lock in profits for a second session in a row. We continue to look for a final push to our 2700 target before year end. However If for any

reason the S&P500 was to fall below 2650 it would be viewed as the initial confirmation a pullback to 2550/30 is underway.

- The EURUSD looks set to close the session right within the top band of the recent range highs 1.1860/80. Should the EURUSD post a daily close above

1.1880 and providing it does not retreat back through 1.1820/00 the EURUSD should continue higher towards 1.1970 and then 1.2085. We have

taken a long EURAUD trade as per yesterdays morning update as a way to express EUR strength.

- We continue to hold a long AUDNZD position from the 1.0900 area, however we still require a close above 1.1020 and then 1.1150 to confirm that

the next leg higher towards 1.1400/1.1500 is underway. However if AUDNZD was to lose support at 1.0850/25, I would move to a more neutral

stance.

- I remain bearish Gold from both an Elliott Wave perspective and while it continues to trade below trendline resistance which is coming in this

morning 1273 area. However we are yet to actually enter a short trade given the conditions for a sell trigger are yet to fall into place. There is nothing

of note on that front this morning, however we will continue to monitor Gold for a sell set-up and trigger to short gold.

421 December, 2017

- We are long EURUAUD from 1.5445 after the cross held and began a rebound from the area of trendline support – an area where

strong rallies have previously occurred. Providing EURAUD continues to hold the 1.5330/20 support region, the target for the trade is the

1.5800 region. My sell stops remain just below 1.5300.

Tony

NB: If you haven’t already please take a moment to read over the TFXT Members Guide to Risk and Money Management and Guide to

order types and Forex Terms used which have been uploaded to our Forum.

If you do have any questions please feel free to ask me preferably via the Forum. I would love for the Forum to become the center of our

trading community whereby you can meet fellow traders, discuss markets and actively learn and navigate markets.

521 December,

2017Source Tradingview. The figures stated are as of the 21st of Dec 2017. Past performance is not a reliable indicator of future performance. This report does

not contain and is not to be taken as containing any financial product advice or financial product recommendation

S&P 500

Update: Overnight the US House of Representatives as expected approved the final version of President Trumps Tax Bill. Nonetheless,

investors were content to lock in profits for a second session in a row. We continue to look for a final push to our 2700 target before year

end. However If for any reason the S&P500 was to fall below 2650 it would be viewed as the initial confirmation a pullback to 2550/30 is

underway.

621 December,



EURUSD

Update: The EURUSD looks set to close the session right within the top band of the recent range highs 1.1860/80. Should the EURUSD

post a daily close above 1.1880 and providing it does not retreat back through 1.1820/00 the EURUSD should continue higher towards

1.1970 and then 1.2085. We have taken a long EURAUD trade as per yesterdays morning update as a way to express EUR strength.

721 December,

2017Source Tradingview. The figures stated are as of the 21stf Dec 2017. Past performance is not a reliable indicator of future performance. This report does


AUDUSD

Update: Unchanged - The AUDUSD is currently in Wave A of an ABC type corrective move. Revised upside targets for the complete

correction are .7740 which is the 38.2% fibo retracement of the recent decline from the .8125 high, followed by the 50% fibo at .7810

and then the 61.8% fib at .7885. Once this corrective phase is complete, I am looking for the downtrend to resume.

821 December,



AUDUSD VS IRON ORE

AUDUSD VS IRON ORE: IRON ORE continues to trade above US$70.00 p/t, continuing to provide support for the AUDUSD.

921 December,



AUDNZD

Update: We continue to hold a long AUDNZD position from the 1.0900 area, however we still require a close above 1.1020 and then

1.1150 to confirm that the next leg higher towards 1.1400/1.1500 is underway. However if AUDNZD was to lose support at 1.0850/25, I

would move to a more neutral stance.

1021 December,



NZDUSD

Update: The NZDUSD has found good selling interest over the past week in the .7000/.7030 region. However this mornings better than

expect NZ Q3 GDP data has pushed the NZDUSD back above .7000c. Providing the NZDUSD remains below .7030/40 my bias remains to

the downside.

1121 December,



GBPUSD

Update: Unchanged - GBPUSD continues to consolidate above the key 1.300/1.3280 support region, which if broken would return the

focus to the downside and more so if the trendline support at 1.3200/80 breaks. Should the GBPUSD rally take another leg higher and

break above 1.3560, it opens up a move to 1.3660 and then 1.3800.

1221 December,



EURAUD

Update: We are long EURUAUD from 1.5445 after the cross held and began a rebound from the area of trendline support – an area

where strong rallies have previously occurred. Providing EURAUD continues to hold the 1.5330/20 support region, the target for the

trade is the 1.5800 region. My sell stops remain just below 1.5300.

1321 December,



CRUDE OIL

Update: A move above $58.60 is initial confirmation the Wave IV correction is complete with new highs towards $60/$62 to follow. Until

then my preference is to be a dip buyer in the $55.80/54.80 support region with stops below $54.00.

1421 December,



GOLD

Update: I remain bearish Gold from both an Elliott Wave perspective and while it continues to trade below trendline resistance which is

coming in this morning 1273 area. However we are yet to actually enter a short trade given the conditions for a sell trigger are yet to fall

into place. There is nothing of note on that front this morning, however we will continue to monitor Gold for a sell set-up and trigger to

short gold.

1521 December, 2017

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21 December 2017 - techfxtraders.com · -We are long EURUAUD from 1.5445 after the cross held and began a rebound from the area of trendline support –an area where strong rallies