Powell in his testimony to congress yesterday insisted that the rise in inflation which has seen US CPI reach 5.4% is transitory and that there would be no shift in monetary policy. The FED indicated that it would continue it's monthly asset purchases and didn't suggest that it would raise rates sooner then expected. We therefore anticipate EURUSD to keep moving...
We had a great selling opportunity yesterday Now it's too late! We expect that this downside move will continue down to 1,1700, however we suggest that you stay away from selling. Why? -in best case scenario you get RRR of 1:1 and we're looking for a greater one -price is heading down to a strong support which means we could see reversal at any...
The markets are at a crucial spot and Powell is due for a decision soon... The chance of negative rates is low but definitely not out of the picture and if that happens, TLT will pump and HYG/IWM will dump (yes SPY too). Timing will be hard but the pressure is certainly building and is confirmed on the technical side of things. $TLT tested a crucial level at...
A quick update to the Euro chart here after clearing the well known ECB positioning. This was the last thing we needed to mark a significant floor; anticipation of 1.176x (Strong Support) holding has clearly applied and for those building their own positions internally, protection is defined below March lows (1.168x) while targets above come into play at 1.217x...
On this one, I will leave the time to tell if my analysis and drawings are accurate or not. DXY is going to retest the resistance then go a little bit down, then will eventually break the upper non-horizontal resistance to test the 92-round number and very strong resistance. Will the DXY break it ? I have a huge doubt as I'm not positive on USD since the Biden...
Yesterday EURUSD failed to break above previous high, showing us that price currently doesn't have enough strength to continue higher. Now we have to see in which direction it will break out. In case of a break above previous highs we would expect price testing the resistance up at 1,2000. But if we see market below previous lows then we would expect price...
Morning Traders, Quick 15M entry here on Gold, the metal has been consolidating over the last 24 hours, most likely in preparation for the number of Fed speeches coming up this week including Chair Powell's speech this afternoon. The metal looks hesitant to move bearish or bullish after a strong week by the dollar last week, with the fed announcing interest hikes...
Last week we've had a clear downside move on AUDUSD. Right now it looks like this move will continue and we're looking for a possible entry. This could happen later on today. We could consider a candlestick pattern formation inside of the zone as a good confirmation and this will give us our entry signal. We're expecting another downside push and price...
S&P500 - Heading for a 10 - 20 % correction The break of the trend line is a significant sign and one of the first signs of market crashes.
Gold struggles for a clear direction, after a three-day south-run, during early Wednesday. Even so, the yellow metal stays on the bears’ radar while keeping the downside break of a 2.5-month-old support line, now resistance, around $1,860 by the press time. Hence, sellers are directed towards 200-day SMA (DMA) level near $1,840 during further downside. However,...
📌 @ridethepig G10 FX Market Commentary - NZD for the Yearly Close Here we are tracking the weak points in the structure which are strategically important points in every map. They are usually protected and once broken and be rewarding with non-stop moves. The handle to track here is 0.74xx which is well placed and comes to undertaking other duties of preventing...
Powell acknowledges the pressure of inflation and prices, but still calls it transitory. So we have a possible long on metals, and implicitly on Silver. So we can say: GO Silver GO !!!
IF IT'S WEDNESDAY IT'S MAD! Or THE BRIDGE OF SighS !!! The Fed, OPEC, BIDEN, COVID and the outside rain hit the same day. With the slogan roast the pastures, poison the fountains, scare the investors, the Bau Bau group above seems to have brought a total eclipse of daily optimism on the financial markets. From Crypto to metals, they all seem set for declines...
Hey guys, Bulls defending their breakout this week, with a reasonable weekly close 1771+ (0.236 weekly fibo support) and within the bull channel. This still can develop as a bearflag towards 1680, so bullish caution remains important. Goldbears are known for their sudden & strong moves (they reminded us on Friday). On the daily we see a nice impulse move to...
In this trade I am looking to take a gold above the resistance created at the 1740s in order to go ride the buy to retest the overall resistance created at the 1754.
The Japanese yen is almost unchanged in the Monday session. Currently, USD/JPY is trading at 108.74, down 0.09% on the day. The Japanese yen remains vulnerable and the symbolic 109 level is under strong pressure. The dollar has had its way with the yen in 2021, as USD/JPY has jumped 5.5% this year. Last week, the pair climbed to 109.36, its highest level since...
AUDUSD has failed to break the so called resistance and a trendline is forming thus we will wait for a 3rd touch to form and possibly sell on it's break downward. Moreover, fibonacci levels are precisely respected. Will it succeed in breaking the uptrend ? Remember that this one could be in a corrective wave before the storm as the USD can possibly be failing...