Weekly / Intraday Analysis - (16 - 20 Jan 2023)
TBC
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Comment:
Weekly Analysis - (16 - 20 Jan 2023)
As all economical cease to exist for the upcoming week, we will not be anticipating and shifting in market structure for the week to come. We will be riding on diminishing dollar and rallying global markets and catching sell scalps to areas of interest "pull-back" plays towards mid 90's KLs. All of these plays will only be valid before the next FOMC.
Expectations for FOMC will be FEDs maintaining rate hikes at 50 BPS, any higher will induce dollar dominance and global markets taking deep dives throughout. That's what we really need for CNY aint it?
Economical data for the upcoming week
1. US Bank holiday
2. Empire State Manufacturing Index
3. BOJ Monetary policy
4. Philly Fed Manufacturing Index
5. Unemployment claims
6. FOMC speaker Brainard
7. FOMC speaker Harkar
8. Existing home sales
9. FOMC speaker Waller
As explained in the live weekly analysis session, JXY has an inverse correlation with DXY therefore, as bullish as JXY has been, DXY has been taking the HIT. JXY is currently at a strong level of supply and will be observing PA closely with its upcoming release of Monetary policy statement.
We would like to hear consistent statements from the FED speakers for further confirmation on their determination in putting inflation back to its place.
As all economical cease to exist for the upcoming week, we will not be anticipating and shifting in market structure for the week to come. We will be riding on diminishing dollar and rallying global markets and catching sell scalps to areas of interest "pull-back" plays towards mid 90's KLs. All of these plays will only be valid before the next FOMC.
Expectations for FOMC will be FEDs maintaining rate hikes at 50 BPS, any higher will induce dollar dominance and global markets taking deep dives throughout. That's what we really need for CNY aint it?
Economical data for the upcoming week
1. US Bank holiday
2. Empire State Manufacturing Index
3. BOJ Monetary policy
4. Philly Fed Manufacturing Index
5. Unemployment claims
6. FOMC speaker Brainard
7. FOMC speaker Harkar
8. Existing home sales
9. FOMC speaker Waller
As explained in the live weekly analysis session, JXY has an inverse correlation with DXY therefore, as bullish as JXY has been, DXY has been taking the HIT. JXY is currently at a strong level of supply and will be observing PA closely with its upcoming release of Monetary policy statement.
We would like to hear consistent statements from the FED speakers for further confirmation on their determination in putting inflation back to its place.
1. Price was in a consolidation phase of approximately 200 PIPS
2. Caught moves in the range on LTF as price failed to form HH nor LL therefore no shift in MS spotted.
3. Price was waiting for a catalyst to break through the consolidation phase as it stacks up on buy side liquidity.
4. As mentioned when CPI data printed easing for 3-months straight, retail traders and the market as a whole will be anticipating FEDS to maintain rate hikes aka interest rates at 50 BPS, even if their adamant stance on fighting inflation has not falter. Therefore, Gold, Equities, Crypto and the global markets as a whole will be expecting rallies across the boards.