After price broke structure to the upside, it reacted off a higher timeframe supply which it used to retrace back towards the initial expansion that left behind a clean OB with an imbalance. Price then formed liquidity at both the top of the expansion and above this OB and is now looking to take it out with the assistance of the long term OB to continue to the...
EURUSD is at important resistance level before today’s US job data. They are an important indicator of the development of the economy and are monitored by the FED when deciding on interest rates. We will watch for a pullback from the resistance zone and a selling opportunity. We will look for an entry after the news when pullback from the zone. In the case...
Overnight, the AUDUSD traded down to the 0.6568 support level despite the overall downward move on the DXY. As the price failed to break the support level, a brief move to the upside could be likely. However, if the DXY recovers in strength from the release of positive NFP data, the AUDUSD could continue with the trend and trade significantly lower, down to the...
Fundamental Backdrop 1. NFP due today at 930pm GMT +8. 2. NFP print and average earnings will be key to the direction of the USD. 3. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets. 4. A few US data releases has coincided nicely with Powell's...
Fundamental Backdrop 1. NFP due today at 930pm GMT +8. 2. NFP print and average earnings will be key to the direction of the USD. Technical Confluences 1. Price is currently retracing and have retraced to the 0.382 on the fibonacci levels. 2. Price can potentially tap into the key support level at 1.04655. 3. Price is still in a bearish trend and I will be...
Overnight, the DXY continued its retrace to the downside after having tested the 105.88 price level, following the hawkish comments from Fed Chair Powell (he indicated that the Federal Reserve was ready to speed up interest rate hikes if the data warranted). The DXY rebounded briefly early in the trading session today with the price testing the near-term support...
Hello all! XAUUSD IDEA! GOLD MITIGATED Demand Zone marked from last Top-Down analysis Video.. I have shared my POI for LONG position (All depends on NFP tomorrow). There is a possibility it doesn't mitigate the confirmation area.. But, we will see! Take care!
Hi people welcome to team DECRYPTERS Today we will discuss nfp trade plan " TECHNICAL ASPECTS " -- initial bullish strucutre -- bouncing from 0.618 fibo -- bouncing from 200 daily ema -- SMC involved (recent smc reversal as j-s) --Bearish harmonic pattern forming (last leg remaining to the up side ) --0.618 fibo...
The EUR/USD pair is taking a breather on Thursday, consolidating at the mid-1.0500 area, as investors continue to ponder Federal Reserve Chair Jerome Powell's hawkish testimony before the U.S. Congress and ahead of the critical nonfarm payrolls report (NFP). At the time of writing, the EUR/USD pair is trading at the 1.0575 area, 0.3% above its opening price,...
Fundamental Context 1. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets. 2. A few US data releases has coincided nicely with Powell's speech. 3. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000...
Welcome back guys. In today's analysis, I will be talking about GOLD and the future where price can be headed towards. GOLD has fell a whopping 485 pips since the start of the week. Fundamental backdrop 1. GOLD's strong bearish pressure was credited to Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases". 2....
Fundamental Backdrop 1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release. 2. Market sentiments surrounding the USD has been flipped bullish. 3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace. Technical Confluences 1. Strong bearish momentum and pressure happening onto AUDUSD. 2. Price has broken...
Oil prices are like a game of poker right now, with players trying to figure out what everyone else is holding. There's the China reopening story, OPEC's card tricks, SPR releases and refills, and the dollar's royal flush. It's a high stakes game, but the pot is huge! Traders are watching NFP and CPI data like hawks, looking for any tells that might indicate...
Hi everyone, CY back with another forecast. Let's prepare for a heavy and potentially volatile week ahead! Today's forecast will be for the upcoming week and the general direction where price can potentially head too with EURUSD. Let me begin.. Fundamental context 1. Next week will be an important week for the USD and there will be the NFP data release ...
Fundamental Backdrop 1. Fed Powell mentioned yesterday that the Fed will not hesitate to hike rates at a faster pace if data shows the resilience of inflation and the US economy. 2. This resulted in strong bearish pressure and momentum coming into EURUSD. Technical Confluences 1. Price has officially broken structure. 2. Lower highs and lower lows has been...
Fundamental Backdrop 1. NFP this week will solidify the bias for GOLD. 2. There have been alot of bullish sentiments in the market surrounding GOLD. Technical Confluences 1. Price has followed our previous forecast and have broken the H4 resistance (now support) at 1846. 2. Price have retraced and looks good to continue heading up to tap into the next H4...
Fundamental Backdrop 1. Given Jan's whopping NFP print of 517k jobs, will the job market continue its resilience and stay strong consistently? Or was the month of January just an anomaly? 2. EUR is also riddled with plenty of economic news and data releases such as the retail sales m/m and CPI news release. 3. Mixed sentiments surrounding the USD due to the "hot...
Japan interest rate is at -0.1% vs UK interest rate 4% Where will large funds being swinging to, for better yields? Is there a possibility that an investor from Japan borrows money from local bank at very low interest rates, invest it in foreign asset classes for profiteering purposes? What will happen to the desirability of Japanese Yen vs other G7...