Let’s summarize the previous week. It began with the G20 summit outcome announcement, namely, Trump and discussed possible resolutions to the trade war that's dragged on between the world's two largest economies. The OPEC extends production cuts for 9 months, The non-farm payroll (NFP) released surprisingly positive figures in its report. But to say that,...
The TA is of the trend channel. Fundemetal - non farm payroll was very positive. The strength of NFP issued Friday (7/14) could complicate the Federal Reserve’s decision this month on whether to cut interest rates to help support the economy. Most investors have anticipated a rate cut in July and perhaps one or two additional Fed cuts later in the year. That...
GBPUSD - BUY SET UP DAILY CHART
The market is reaching the buy zone on a Daily Timeframe .
* 3 zones meet together which does make that area a good buy.
*Downtrend support line, Uptrend support line and Daily support line meet in the buy box.
*Other Support zones could be found below the trend line but can be used as a new entry point,
if the market fails to...
Looking at NZDUSD H1 time frame, we can see that price is currently trading in a correction. This is a bullish correction formation at this point in time which indicates that we should see a break to the upside. I am looking to trade wave 4 to the top of the structure and will then wait for confirmation of a break to the upside or a reversal to complete wave 5...
Getting ready for the NFP, Trump's obsession, recommendations of Morgan Stanley
The financial markets are having a torrid week. Financial market participants are concerned about the appearance of a trend that the market currently is following. The concern is about the statistics based on the US labor market outcome, which in the future might provoke the US...
Hi guys, AUDUSD is forming a promising setup on the daily chart.
The price made what looks like a fake breakout with a bearish pinbar candlestick near the 61.8% Fib level. The level also aligns with a horizontal and trendline resistance.
The RSI formed a bearish divergence in a pair that is overall in a healthy downtrend.
Let's see what today's NFP will give...
Germany Factory Orders came -2.2%
Economy Slows Down Continuously
ECB policymakers think the slowdown is no longer temporary.
US NFP and Job Report will be released.
A Better than expected NFP scenario near term overview: 1.11100
Gold formed a double top pattern on the daily chart as the price didn't manage to break above the $1,439 high in this week's attempt.
The RSI is forming a slight bearish divergence, which combined with a pinbar (tweezers) candlestick pattern may send the price lower.
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Hi guys, the EUR/USD pair is completing a correction to the 61.8% Fib level on the daily chart, suggesting that the recently formed uptrend may continue.
The price has also formed a bullish wedge pattern with an indecisive candlestick during yesterday's trade and a bullish candle in today's trade.
My buy trigger is an upside break of the wedge pattern, with an...
BUY GOLD FROM 1405 FOR 1435 AND 1450 WITH STOP LOSS BELOW 1395
SELL GOLD FROM 1425 FOR 1395 AND 1375 WITH STOP LOSS ABV 1445
Al the best
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9 weeks of pure bullish action with no significant pullback. Major signs on various timeframes suggesting shorts on this pair as we are getting rejection multiple times off the .500 region with buyers struggling to push towards the 9000 level. We also see price is getting compressed into a triangle formation which means we are expecting a huge breakout very soon...
Lots going on here. NFP will put price into place on Friday. Hopefuly will see price come back to the Fibonacci at .78 by tomorrow at the latest. This may very well help indicate price movement to either see a bounce from the .78 region on the Fibonacci to $1450 or price diving down potentially back into that channel. This could just be a fake breakout or could be...
Despite the extremely weak statistics from the Eurozone published on Monday and rather depressing data on producer prices, published on Tuesday, the euro tone was relatively good in the foreign exchange market yesterday. The reason was the information that the ECB is not ready to resort to additional monetary incentives. Therefore you should not expect to ease...
Hello all - DuncanForex here with another trade idea
Following my previous trade which did not work out, on a 61.8% retrace approach with a Head and SHoulder pattern on the 4hour chart the price action has now created a butterfly pattern instead.
With the opportunity for a great win vs risk ratio
I have now entered long and looking to ride this through the NFP...
Following up with the entry we took during last weeks trading at 1.3095... for anyone who missed the trade, I believe if we get a retest of the 1.3095 area this would still be a valid entry with a relatively small 25 pip stop loss to protect yourself if price decides to continue falling to a new yearly low.
Targets at 1.324 and 1.33
Nice R:R On this trade idea...
The G20 meeting was the main even however the markets were not so much interested in the summit as in one particular meeting Trump - Xi. At stake was the fate of trade negotiations between countries. Markets have been waiting for the end of the trade war. As we expected the leaders Trump and Xi agreed to resume trade negotiations on Saturday, June 29. The main...