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Welcome to this week’s Market Blast Technicals.

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I’m Brad Alexander and on behalf of Valutrades, today we will look at Brent Crude (UK Oil), Gold (XAUUSD), and AUDJPY.

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Yesterday we looked at JPY pairs and the overall weakness of the Yen on these Daily charts.

Price action is on a one-way street and most pairs have broken through key levels of resistance.

We are monitoring AUDJPY as price action has reached a previous level of resistance from March of this year and the neckline from this head-and-shoulders pattern from 4 years ago.

Gold seems to be struggling to find direction these days, but we see that price action has bounced off this lower trend line but we will keep an eye on our Stochastic Oscillator which is heading into Overbought territory.

The MACD indicator may be telling us to expect a Ranging Market as we mentioned in last week’s video.

And, don’t forget to try out Valutrades Signals and you can find information on the website or on the YouTube card on the screen now.

Brent Crude fell yesterday to fill this weekend price gap and we hope you spotted this double top and took advantage when price action broke the neckline into this potential Cup-and-Saucer pattern.

Price action has just bounced off this lower trend line and the Stochastic Oscillator is moving from Oversold.

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That’s all for now. Happy trading with Valutrades and we will see you later in the week with our trading tips video.

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