I'd only consider going short the EURCAD today. All trades need to be closed by the end of the NY session on a Friday so as not to hold risk overnight. The ECB is looking for a recession and seems happy to keep killing productivity with rate hikes. The single currency is f'd.
So Tuesday, the high of the week? quite possibly. Wednesday, FOMC and Powell announce a 75bps rate hike. Talks down the market. Conveniently for anyone that shorted the gap fill, their target of the resting liquidity under the double bottom was realised.
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EURGBP Intraday - We look to Buy at 0.8580 (stop at 0.8530) There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 0.8579. We are trading at oversold extremes. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. Further...
The ECB is due to release its interest rate decision today 8:15pm (GMT+8) The current market forecast is for a 75bps hike, taking the interest rate from 1.25% to 2.00%. This decision is likely to have been fully priced in. The EURUSD had climbed to reach a high of 1.0095 on the back of the DXY weakness and possibly with markets anticipating the 75bps rate hike to...
EURJPY Intraday - We look to Buy at 145.55 (stop at 144.70) Selling pressure from 147.70 resulted in all the initial daily gains being overturned. The current move lower is expected to continue. The reaction lower is negative, however, we view this as an opportunity to set longs in line with the overall bullish move higher. We therefore, prefer to fade into...
I think it is pretty safe to have a sentiment about US30 being bearish for this upcoming week. The Fed has yet to let up on the never-ending rate hike which is causing huge fundamental movements like the ones we have seen last week. We have hit a pretty strong supply area with a notable key level for U30. I definitely would like to reanalyze this pair in the...
What We Expected When the ball dropped in Times Square at midnight December 31st, we had very good reasons to cheer for Year 2022. S&P 500 ended 2021 at 4,766.18, up 27%. In fact, the index was more than double in a 2-year bull market since the pandemic drove it down to 2,230 in March 2020. U.S. Bureau of Labor Statistics (BLS) reported monthly growth of...
USDCAD Intraday - We look to Buy at 1.3475 (stop at 1.3415) Previous support located at 1.3550. Previous resistance located at 1.3600. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. Our profit targets will be 1.3595 and 1.3600 Resistance: 1.3600 / 1.3650 / 1.3700 Support: 1.3550 / 1.3500 / 1.3475 Please...
As per Fed's Daly remarks states that the US needs further rate hikes to combat inflation hence why this current rally on indices and today's miss on JOLTS jobs report. Markets are continually providing volatility which equates to more opportunities for all market instruments. We have been breaking structure to the upside on NAS100 since Monday and all throughout...
Traders, Since 2009 the dollar has remained under this purple trend line. Today we do battle. This is the moment of truth! A cross above it (unexpected) would be bearish for our U.S. stock markets. If we stay below? I expect good things in the next several months.
EURUSD Intraday - We look to Sell at 0.9719 (stop at 0.9791) The primary trend remains bearish. We can see no technical reason for a change of trend. A firmer opening is expected to challenge bearish resolve. A Fibonacci confluence area is located at 0.9740. Preferred trade is to sell into rallies. Our profit targets will be 0.9553 and 0.9525 Resistance:...
CBOT: Micro 10-Year Yield ( CBOT_MINI:10Y1! ) Last Friday, U.S. stocks plunged again as soaring interest rates and FX market turmoil fueled investor fears of a global recession. The Dow fell below 30,000 and closed at 29,590, down 486 or -1.6%. S&P 500 broke through 3700 and settled at 3,697, down 1.72%. Nasdaq Composite lost nearly 200 points and closed at...
Traders, A moment of truth has arrived. The dollar is about to do something it has only done 2 times since 2009. This is critical! Let's take a look at our charts together. Stew
If 100 bps, then break below support & cont. down. If 75 bps, then remain above bottom support. If 75 bps & hints of future pivot, then back into triangle with breakout imminent. If 50 bps, then To The Moon!
On the day of the increase most likely the market will go up which is counter-intuitive because when you think about increasing interest rates money becomes more expensive to borrow. So shouldn't stock go down? Usually, that tends to be true, but when there are High rates of inflation investors want to pay less money for a company. P/E values get compressed...
Hello my Fellow TraderZ, We are now coming into the most awaited week where we have FED Rate Hike announcement on SEPT 20/21. So as usual US Equity Markets is reacting to the probable Hawkish action of FED, followed by #CRYPTO as well. Many of us are expecting the rate hike to be between 0.75bps and 1bps. If we see 0.75bps, it is good and more so like #BITCOIN...
COMEX: Gold Futures ( COMEX:GC1! ) Last Tuesday, September 13th, the Bureau of Labor Statistics reported that U.S. Consumer Price Index rose 0.1% in August to an annual rate of 8.3%. Both were higher than market expectations of -0.1% and 8.1%, respectively. One tenth of one percent didn’t seem much, but it refuted the mainstream notion that inflation has already...