US ISM Non-Manufacturing Index (ISM Services) Next Release: 5th December 2023 (released on third business day of each month) The U.S. Institute for Supply Management (ISM) Non-Manufacturing Index (“ISM Services”) encompasses a wide range of services across various industries. The index is designed to measure the economic activity and health of the services...
In early European trading, the US dollar steadied near a one-week high against a basket of currencies, holding at 103.559 on the Dollar Index. This stability follows a period of weakness in November, marked by traders anticipating significant rate cuts by the Federal Reserve in the coming year. However, recent actions have seen a shift in sentiment as investors...
#DXY #WeeklyOutlook Next week is Thanksgiving holiday so, historically that week can be a hit or miss and especially given the fact that we don't have a lot of news this week so I would tread lightly. We don't have any red folder news until Wednesday and that is going to be an early release of #UnemploymentClaims , #DurableGoods, and #ConsumerSentiment. On...
#US30 #WeeklyOutlook Next week is Thanksgiving holiday so, historically that week can be a hit or miss and especially given the fact that we don't have a lot of news this week so I would tread lightly. We don't have any red folder news until Wednesday and that is going to be an early release of #UnemploymentClaims , #DurableGoods, and #ConsumerSentiment. On...
Gold is once again in the spotlight, and here’s why! Economic Cycles, PMI & Gold The US Purchasing Managers Index (PMI) is a leading indicator often used to identify turns in the economic cycle. A below 50 PMI print indicates contraction in the US manufacturing cycle, while a print above 50 suggests expansion. Generally speaking, expanding manufacturing...
In the bottom pane is the US Purchasing managers index number a number below 50 ( and nearly all the time below 47) means a recession/ economic slowdown is looming. But as you can see on the rebound , as the PMI number moves above 50 and back into a expanding economy we have seen it coincide with the great bitcoin bull markets. Let's hope this trend continues.
Macro Monday 19 Total Non-Farm Payrolls: Pre-Recession Observations What is Non-Farm Payroll? The nonfarm payroll measures the number of workers in the U.S. includes 80% of US workers. The figures exclude farm workers (Nonfarm) and workers in several other job classifications such as military and non-profit employees. Data on nonfarm payrolls is collected by...
Macro Monday 18 Using New Orders for Durable Goods to Anticipate Market Direction This week we are using the Manufacturers New Orders for Durable Goods Survey data (“Durable Goods”) to help anticipate price movements on the S&P500. The 30 month moving average for Durable Goods can act as a threshold level for buy and sell signals for the S&P500 whilst also...
PMI readings (services and manufacturing are in an uptrend Stocks and Gold are in line with current PMI readings (e.g. services PMI) Commodities (WTI/Oil) and Crypto are lagging behind and may catch up to current PMI readings YoY%-Changes of all assets are shown in the following chart: Disclaimer: this is not investment advice. You are responsible for...
CME_MINI:NQZ2023 - PR High: 14752.00 - PR Low: 14737.00 - NZ Spread: 33.5 Key Economic Event 09:45 – S&P Global Services PMI Maintaining long-term inventory above 14600 Evening Stats (As of 12:25 AM) - Weekend Gap: +0.21% (filled) - Session Gap 8/2: -0.33% (open > 15807) - Session Gap 7/20: -0.11% (open > 15939) - Session Open ATR: 254.80 - Volume: 26K -...
We can see golds holding above this 45 zone, which is a good indication of price to push higher. Possibly back to 1960. A lot of wicks at the moment so I wont be entering as of yet. London is about to open soon, I will hold off until then, then look to enter in longs as its still in an overall bullish trend.
The four-hour gold chart shows an uptrend. The price is above the Ichimoku cloud, which is a confirmation of bullish momentum. Therefore, the market is expected to reach the first resistance. Key levels The first resistance is at $1984.32, which corresponds to the 127.20% Fibonacci level. The second resistance is formed at $2006.86. Intermediate support is...
when oil is above $50 nations are busy producing goods as the demand for the sweet crude in emerging markets accelerates the pullback is necessary to maintain cost of production otherwise it would be expensive for new economies to compete with developed nations low priced oil means VOLUME play for producers and the middlemen benefits - this is also timing for...
The euro has stabilized on Wednesday and is in positive territory. In the North American session, EUR/USD is trading at 1.0519, up 0.50%. Germany is the largest economy in the eurozone. Once a global powerhouse, the economy has weakened and finds itself in the unfamiliar position of being a laggard in the bloc. Recent economic releases haven't been encouraging,...
As you can see, the price fell to $1914 and after that it was able to grow up to $1928! The range of $1924 to $1929 is one of the supply ranges, and if the price stabilizes below this level in the 4-hour time frame, we will probably see a further drop in the price! Note that we still have a liquidity void in the range of $1931 to $1945, which we expect to be...
CME_MINI:NQZ2023 - PR High: 14871.25 - PR Low: 14850.00 - NZ Spread: 47.75 Significant Economic event: 09:45 – S&P Global Services PMI Continuing inventory decline - Near 14800 pivot from 8/25 Evening Stats (As of 1:15 AM) - Weekend Gap: N/A - Session Gap: -0.33% (open > 15807) - Session Gap: -0.11% (open > 15939) - Session Open ATR: 235.77 - Volume: 32K -...
Targeting sells from 1944-46 area. Golds sudden bullish movement to this price has caught my eye. I believe FOMC will not raise rates, thus I think it will have a huge impact on metals. There could be range up to that 1948, my stop is at 1948.5 with 2 targets 1940 and 1927 which was around the area of 25 key support. Ive implemented the use of FVG, BOS and...
The DXY has been in a position like this 3 times in history 1985 | 2001 | 2023 Every time the DXY has had a TSI 4W cross while the Stoch RSI was in the afterburn stage of rising with the Japanese Currency (JPY) either breaking major support or major resistance it has led to a complete rubber band reversal of the DXY. We now have the USDJPY hanging onto to...