When considering CPI, a lower figure is preferred when buying assets such as gold, EUR, EURUSD, Cable, and indices. The weaker the CPI, the better it is for risk assets, especially those associated with hedging against the dollar. For instance, if there is a year-on-year 4.7% inflation and a month-on-month 0.2%, it would be ideal to buy indices and sell dollars...
OANDA:EURUSD I expect EUR to consolidate in the 1.0850/1.0950 range. EUR traded between 1.0855 and 1.0910 before closing slightly lower at 1.0865 (-0.010%). The fundamental tone has softened somewhat and EUR is likely to drop lower today, but any decline could be part of a lower range of 1.0839/1.0895. In other words, a clear break below 1.0845 is unlikely.
Next...
Based on technical analysis, there is a possibility of gold retesting the area around 2020. If it breaks above this level and successfully retests, it may touch the range of 2032-2040.
However, it is crucial to exercise caution, particularly in light of high-impact news events scheduled for today.
The U.S. Producer Price Index (PPI) MoM release is tomorrow (14:30).
In this idea I will talk about what it is and how we can make money of this as traders :)
What the # is PPI?
The Producer Price Index (PPI) measures the price change on the manufacturing side.
In contrast to CPI, Consumer Price Index, which measures what consumers pay for their stuff!
So,...
Pro to the bullish close of GBPUSD with more rejection to the downside, this week's expectation is a bullish close.
The break of 1.26301 confirmed our bullish trade, with targets at 1.26887
# ****Gold Price Weekly Forecast: XAU/USD could break out of range on NFP? ****
Gold has been struggling to make a decisive move following a correction from the $2,000 level. While the technical outlook points to a bullish bias, buyers are likely to remain hesitant in the near term. Market participants are closely watching the US Nonfarm Payrolls (NFP) data,...
Hello traders i am expecting bullishness on gold we mainly see volatility during news wait the news to pass like 2 min then the trade will setup the news always like to knock people first before making the right move i will make an update on it just follow me
hello traders this is more of an ascending triangle as a descending or simply a trendline breakout strategy can be a bit unique for some but it works guys if the concept behind is correct wait for session wait for candle close
Daily TA:
Well, you can see all the information on the chart.
If you have questions feel free to ask.
💥💥💥Important note: At first I should mention that it's not investment advice then as you know, today's CPI for Canada will be published so it's a high-risk trade, and as always we need a low time frame confirmation. Last but not least, if you look at...
USDJPY was on a clear uptrend.
Then, a major support level was broken. This level was even visible on the 1D chart, which shows that it's a significant level.
Once the level was broken, I quickly entered on a buy once price returns to that level. It was a major level, so I predicted that only a short retest was required.
This is because I felt the market...
In accordance to my previous post, I outlined the scenario in which we may pull back on US OIL to these prices 76.8.
We have created structure as anticpated.
RR 3 : 1
Not Financial Advice
Summary of the RBA’s February 2023 statement:
• The RBA hiked the cash rate target by 25 basis points to 3.35%
• Underlying inflation was above expectations at 6.9%
• Strong domestic demand is adding to the inflationary pressures
• CPI is expected to decline this year due to global factors and slower growth in domestic demand
• Medium-term inflation expectations...
EIA Petroleum Status Reports are considered high-impact news, yet how much do they impact ES futures?
In the 30 minutes after it gets reported at 10:30am ET, here's how ES has reacted the last 5 times:
Jan 4: 14.75-point range, closing up 0.21% after 30 minutes
Dec 28: 11.5-point range, closing up 0.25% after 30 minutes
Dec 21: 12-point range, closing...
look where price is one more time at an area where rejected clearly twice before plus it's a structural point too ( it use to be support but changed to resistance ) if you look at the left side of the chart. this cluster of resistance add to the importance of the area.
But the thing is matter most is not to rush into a trade as we have CPI news today and depends...
Bearish view here.
Due to the Political failures and cost of living crisis, i only see one direction for the GBP going into the Inflation Reports on the 19th October . I expect Inflation to rise and continue to place pressure on the Pound further as seen in the past few months. I can't see the price entering any lower than 1.06700 as the buying opportunity...
Looking to play a little volatility from CAD inflation numbers. I will only get in if price comes to retest that blue zone rejects it. I'm targeting that 1.3200 level.
Entry: 1.3339
SL: 1.3374
TP: 1.3204
RR: 3.82
Personal opinions only not investment advice!
FedEx Corporation
Short Term - We look to Buy at 161.03 (stop at 148.79)
The company gave a bleak outlook for profits and plunged in the premarket by 20% .We are trading at oversold extremes. A move lower faces tough support and we remain cautious on downside potential. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move...
Please see related ideas for better context, everything else is in the video. But in short - we will have a lot of manipulative moves during the next two days. See why in the video.
👋 Disclaimer: All ideas here are for educational purposes only, not financial advice. Your trades are yours only, and your complete responsibility. I'm not particularly bullish or...
