Bullish

Bullish on EUR/USD, EUR/JPY, GBP/USD.

AUD/JPY

Likely shorts for AUD/JPY and USD/JPY.

The Weekly Review: Euro Up

EUR/USD broke out from its resistance and trended up. The move could further push up EUR/USD. EUR/JPY had a few false bearish pinbar, once it broke out of the pinbar it moved further up. This kind of action is called a pinbar failure. AUD/USD had a bullish pinbar up, then continuing to move north. Right now it has a bearish pinbar signalling a possible down move on Monday. I will continue to be bullish on JPY crosses as the Yen might continue its selldown for the next few months. USD/JPY had a bearish pinbar last week. So take some profit.

US Stocks

Apple had a big move up after that pinbar. Simple buy up by the big funds.

Singapore Stocks

Starhub continues to be supported. Will probably be flat.

Caution Trading

Bearish Pinbar has formed on EUR/JPY and AUD/JPY. Trade with caution.

The Weekly Review: The JPY Short

Last week was certainly a good profit week for those who shorted the Yen. Almost every currency cross with JPY had a very good rally in just a few short days. The rally might continue for the next week looking at the pinbar for EUR/JPY. EUR/USD was stuck at its resistance point when it tried to rally, still it will be a difficult trade for EUR/USD as EUR is still weak and USD is getting stronger. Might look to long if it breaks out of resistance. AUD/USD will likely be moving up next week but be cautious.

Big USD/JPY Rally

US Stocks

There was certainly panic selling as many were dumping their Apple stock after continued decline for many days. But on Friday, there was some buying at the low, forming a pinbar. There might be buying up for Apple. Was the decline a correction or a real decline? Anyway technology stocks are on a decline as it showed the end of Golden Era for technology as nothing new is out that can wow the people.

Singapore Stocks

Singapore stocks continued their decline following the US. Noble Group continued its panic selling by big investors as there were big gaps at every open. But as a Chinese saying: "For every crisis there is an opportunity". Value buyers may lap this up at low price.

Noble Group

Genting found support on Thursday and moved up on Friday. Punters may look to buy into it.

Genting SP: Bullish pinbar after a bearish pinbar

Commodities

Covering gold for this blog for fun this week. As many were wondering how much higher will gold be? Let's look at the big picture.

Monthly Chart of Gold

I used the monthly timeframe to look at gold. Certainly gold had a steady rise over the years since 2002! Gold was seriously cheap at that time! But if you look at gold before 2000, the price of gold was steady between $200 and $300. Now it is at the price of about $1700. Will gold rally further? Nobody knows. Looking at the past few months, price of gold was supported after its decline and than rallied up, then declined again. So gold price will probably be stagnant for awhile. When gold price drops below the green support line, thats where big funds are going to sell.

The Weekly Review: Aftermath of Obama Win

Obama won the election. It was a close call as Romney garnered as many votes as him. In the end Obama wins. Wall street wasn't delighted by his win as his continued legislation means nothing will change in terms of monetary policy except for a possible tax rise for companies and wealthy people at the end of the year when Bush's tax cut policy ends. Romney, on the other hand, proposed tax cuts for companies and government spending cuts. No doubt Wall Street was hoping for Romney to win. Markets were bullish for awhile when Obama was announced the winner. Then later it when into a massive selloff. Short sellers sure made a good killing.

The Euro had massive selloff. The pinbar was an indication of the impending short. It will still get very tricky next week to trade the Euro. But look into JPY instead.

Bullish Pinbar in USD/JPY

Bullish Pinbar has formed in USD/JPY. Friday markets did not sell off as markets were taking profit due to the fact it is the last day of trading week. Also some currency pairs have touched their support. Might look for a long next week.

Singapore Stocks

Noble Group had a disappointing earnings report. Share price plunged massively during opening. However, Wilmar had a different story. It had reported better than expected earnings. Shares surged on opening. It is still stuck in a range for now. Value buyers might look into this stock.

Wilmar

The Weekly Review - Tablet Wars

Another bumpy week, EUR/USD failed to move up resulting in a bearish pinbar rejection. Needless to say what happens next, a very good short. On the other hand, JPY has been very weak which is a very good long trade for trading JPY crosses such as AUD/JPY, USD/JPY, etc. AUD/USD has been very choppy, slowing chopping up until late night aggressive short by the market several hours after the US unemployment report. Notice the rejection again. Next week will be another tough week to trade as EUR/USD is hanging on breaking point. It will correct up for a while till market decides to bring it up further or push it down again.

Note: If you noticed, my AUD/USD timeframe is in 4h. I find it easier to spot movements in 4h timeframe. However you should always look at bigger timeframes to see the big picture.

US stocks

Let's take a look back at Apple. After breaking down out of the support, it has corrected up, failed to go back and continues down further.

Apple's in trouble recently

Apple unveiled their new iPad mini and 4th generation iPad (Click link to read review). It was quite a pity for the iPad mini cause reviews were praising about the form and weight, the only let down was that it lacked a retina display. If it had retina, I would say indeed it will be beautiful.

iPad mini me

Let's look at Google. Will it recover from its large drop after disappointing earnings?

Recovering from support. But will it hit resistance?

Google had quite good releases lately such as Nexus 7, Nexus 4 and Nexus 10 (Click link to read review). Their Android keeps improving with better UI. The specs are also very good as now most screens have high resolution that is said to be equal or better than Retina. But still the lag when scrolling will bug users. However they are cheaper than Apple's premium and I would say worth your money till Google updates with new OS after Jelly Bean.

Indeed

Another stock which is getting my interest is Potash Corp which is a company that makes fertilizers. Right now is hanging on support. So either it will bounce back up or continue further down.

Potash Corp

Singapore Stocks

Biosensors is looking for a long after a rejection of price.

Upside tick for Biosensors

Osim might be ending its bull run ending the Friday with a pinbar rejection.

End of bull run? Or a trick by BB?

Mapletreelog is not looking good. Currently it sits on support after a big down. This REIT company gives good dividends. But it is on the high side right now. Book your profits if one has bought this on the low price. REITS might be losing steam next year.

Big selldown after a very long good run

Strength in USD

USD/JPY showing alot of strength the past few days. Euro is weak.

Aussie Upside

Aussie continues its consolidation upside, stronger than Euro now.