Just for my private post. The next candle should be green due to USD rebounding from higher than expected NFP Numbers. We will also receive news in the early morning about the USD price index rebounding as well as other currencies falling due to the USD becoming stronger from NFP. That being said why "short".
#1:
The entire market is expecting .25 rate cut from the FED, cutting rates is good for us economy long term but will drive the price down on the currency because its a "dovish stance".
If there is a rate cut we can expect to see the JPY to continue its strength across the market.
#2
Our YEN is currently a strong pair due to everyone using it as a safe haven currency.
#3
To turn bullish we would need to break 2 resistance zones which is highly unlikely.
If the fed raises the rates on the US this entire trade will fail.
If the feds keep the rate the same or lower them this trade will be successful.
From a pure techinical aspect the USDJPY is a sell
From a fundamental point of view its also a sell.
The fed news this week WILL decide the "fundamentals economics" of the united states dollar pair. Let us wait and watch.
#1:
The entire market is expecting .25 rate cut from the FED, cutting rates is good for us economy long term but will drive the price down on the currency because its a "dovish stance".
If there is a rate cut we can expect to see the JPY to continue its strength across the market.
#2
Our YEN is currently a strong pair due to everyone using it as a safe haven currency.
#3
To turn bullish we would need to break 2 resistance zones which is highly unlikely.
If the fed raises the rates on the US this entire trade will fail.
If the feds keep the rate the same or lower them this trade will be successful.
From a pure techinical aspect the USDJPY is a sell
From a fundamental point of view its also a sell.
The fed news this week WILL decide the "fundamentals economics" of the united states dollar pair. Let us wait and watch.
Comment:
Just like we talked about today the USD would continue its push forward from high NFP numbers.
Comment:
Still pushing higher just like we expected on the daily time frame. A good entry is anything above 108.800. If you can place a short between 108.800 - 109.200 for an entry that may do well for selling entries.
Trade active:
YEEEEAH WERE IN THE 108.800 ZONE!!! SELLS READY??
Trade active:
PICK YOUR TARGET ITS STRAIGHT PROFITS. I do apologize for all caps but when you put 2 hours into analysis and get your times worth you'll understand. To the 8 people who took this trade with me good job making money for your life. The rest of you that said buy hope you know about "Risk Management". G
Trade closed: target reached:
If you placed a trade @ 108.800 then your in at least 40pips(400movements) in profit. Good job guys. I'm closing the trade in the comments because I'm taking profit. But I'm still holding a sell position.