The euro is showing limited movement for a second consecutive day. In Wednesday's European session, EUR/USD is trading at 1.1063, up 0.07%. The Federal Reserve meets later today, and it's close to a certainty that the Fed will raise rates by 0.25%, which would bring the Fed Funds rate to a range of 5.25% to 5.50%. The FOMC will not be releasing any economic...
Interest rates will be announced by the FED today. The news is at 21:00 Bulgarian time, and the press conference 30 minutes later. The only thing certain before the news is that there will be big fluctuations. Therefore, it is advisable to reduce the risk on active positions and not to hurry with new entries. The main option where we will look for trades is on...
Interest rates from the FED and ECB are coming up this week. This will determine the next move in EURUSD. After reaching 1.1274, a correction was initiated, which we expect to continue until the news. The next important support is at 1.1004. We will be watching for a pullback from these levels and buying opportunities.
We broke from our bull flag/cup and handle on the 4HR timeframe. Looking for a possible continuation into 15268-15300 zone as BULLS target. We had our pull back this morning during NY session to retest the flag breakout. If we do another retest and back into the downtrend, BEARS target is 14925-14970 gap. Powell speech is on at 2:30am EST 6/29. This may help with...
The Canadian dollar spiked and gained 50 points after Canada released the May inflation report but has pared these gains. USD/CAD is unchanged at 1.3158. Canada's inflation rate fell sharply in May to 3.4%, down from 4.4% in April. As expected, much of that decline was due to lower gasoline prices. Still, this is the lowest inflation rate since June 2021.The core...
I am expecting more movement from Wednesday to Friday due to Powell speaking. Staying open minded to what may happen as we have been consolidating and getting tighter in range. BULLS: 15264 as we hit this area multiple times, it is the double top of Jan/March 2022, and we can't seem to break over it now. We have a 3HR supply and 15M supply to break through. If...
Last week’s newsletter, we leaned bearish and the market made lower lows 4 out of the 4 trading sessions. With more fed speakers this week, PCE and Consumer Confidence data releases, and political turmoil in Russia, uncertainty can cause volatility in the market bringing down equities. Technical Analysis: AMEX:SPY is still due for a retest of the bull flag...
Looking to trade the rejection of 1924 area, Trade opened 1932.5, target 1940 previous HH. 40 pip SL keeping it tight during news. Will update the trade as its active.
U.S. Oil still stuck in consolidation, making big ranging moves. Monday was a federal holiday, Juneteenth. New York -Traded Texas intermediate, or WTI did not make much movement upon opening. Sunday or Monday, closing with a bearish candle at $90.87. Tuesday dropped 1% or 100 pips to 69.82 area, then regaining by the end of the day closing at 71.63 Wednesday Fed...
These are just my ideas, what I’m expecting, and why, with this week’s the big fundamentals. Overview Big market-moving news this week with Wednesday’s UK CPI, Thursday’s BoE Interest Rate Decision and Forecast, there is also FED Powell’s testimony in between the UK events on Wednesday. Several things could play out with the UK news, which is what my scenarios...
Yesterday we saw another rise and break of the previous high in EURUSD. The first level of the Fibonacci extension based on the last impulse - 1.0996 - has already been worked out. The next level is at 1.1060, and shortly after that is the important resistance level of 1.1080. In this zone, we expect more serious resistance and a possible deeper correction.
CME_MINI:NQU2023 - PR High: 15049.25 - PR Low: 15024.00 - NZ Spread: 56.25 Powell set to testify again at B-period. Economic Events: 08:30 – Initial Jobless Claims 10:00 – Existing Home Sales - Fed Chair Powell Testifies 11:00 – Crude Oil Inventories Strong inventory drop during Wednesday's session - Finally showing retracement on daily print - No...
Gold at 1925 became unsustainable because of fundamental news influences (Powell Speech etc.). 1925 will now be an invalid level to take a trade on so now we must prepare for the reaction. im looking to sell gold if it retests 1939 and if gold continues to push lower i will buy 1909
The British pound has edged lower on Wednesday. GBP is trading at 1.2724 in Europe, down 0.3%. GBP/USD spiked after today's inflation release but in currently in negative territory. The UK released the May inflation report today, and the results were a major disappointment, to put it mildly. With inflation falling for two straight months, there were hopes that...
EURUSD continues to hold below the important resistance at 1.0940. We are watching for a continuation of the uptrend and heading towards 1.1080. Before that, it is possible to see the correction develop and reach 1.0865. A pullback from these levels would provide a good ratio and entry reason. There is a speech by Powell today! An important support level is 1.0800!
CME_MINI:NQU2023 - PR High: 15256.00 - PR Low: 15238.75 - NZ Spread: 38.75 Powell set to speak at B-period - 10:00 – Fed Chair Powell Testifies Tuesday session traded in wide range - High volatility during morning session - Closed practically unchanged Evening Stats (As of 12:05 AM) - Weekend Gap: N/A - Session Open ATR: 222.16 - Volume: 16K - Open Int:...
The British pound is lower on Tuesday. In the European session, GBP/USD is trading at 1.2739, down 0.41%. The UK releases the May inflation report on Wednesday and BoE policy makers will be hoping that inflation continues to trend lower. Inflation dropped in April to 8.7%, decelerating for a second straight month. The consensus stands at 8.4%, and the good news...
EURUSD is holding below the important resistance at 1.0940. We are watching for a continuation of the uptrend and heading towards 1.1080. Before that, it is possible to see the development of the correction up to 1.0865. This is 61.8 Fibonacci of the last rise. A pullback from these levels would provide a good ratio and entry opportunity. An important support...