Fundamental Backdrop 1. Market sentiments continue to favour the EUR against the USD given the potential interest rate differential between the 2 currencies. 2. ECB highly anticipated to hike rates by 50 bps in the upcoming ECB meeting. Technical Confluences 1. H4 support at 1.08764. 2. Price have rejected the 0.618 level on the Fibonacci retracement and has...
Hello traders! DXY stopped a multiyear uptrend at 114.8 and declined with a 5 waves impulse down from there. After a first bottom, price increased in a three wave until 115.9, 38.2% of the whole discent from the top, and started a smaller impulsive 5 wave to the downside that ended sligthly below previous low, de facto creating the possibility for a double bottom....
Fundamental Backdrop 1. Red news today like the Empire State Manufacturing Index could potentially result in a pullback for EURUSD before heading bullish again. 2. Market sentiments continue to favour the EUR against the USD given the potential interest rate differential between the 2 currencies. 3. Furthermore, USD economic data has been relatively soft and...
Fundamental Backdrop 1. CPI tomorrow will give greater clarity to the direction of the USD. 2. Last week's NFP result was positive and bullish for the USD, with unemployment rate falling to 3.5% yet again. 3. CPI m/m forecasted at 0.2% compared to previous 0.4%, market has been pricing in a further slow down in CPI. 4. CPI reading would provide insights to the...
Failure to break low plus break of the trendline suggest a small correction to the upside. Bullish HTF harmonic pattern also recently completed
Fundamental Backdrop 1. CHF CPI m/m increased by 0.2%, much lower than the forecast 0.4% and previous 0.7% m/m. 2. The softer print of CPI shows that inflation has been slowing down at a much faster rate which could signify a dovish landing on the SNB. 3. Market Open on Dollar has been very bullish, however, with NFP lurking this week, expect plenty of volatility...
Fundamental Backdrop 1. Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day 2. This can cause a bullish run in prices in the long run. Technical Confluences 1. Price near 81.7 resistance 2. Price shot through the support at 72.50 with strong bullish momentum, causing a market gap Idea...
After reviewing the market trends over the past week, it appears that we are still anticipating a bullish shift to occur in the near future. We have already tapped into the lower swing zone from our breakout level, which signals a potential upward trend. However, for this bullish shift to materialize, we must break the previous high that we put in after the break...
In what appears to be an unprecedented win, gold prices are up 9% for two quarters back-to-back as memory of this month’s U.S. banking crisis keeps the safe haven in demand, even as risk assets rebound from recent lows. Gold's highs came even as the S&P 500 climbed 6% over the past three weeks, shrugging off contagion worries from the U.S. banking crisis that led...
Fundamental Backdrop 1. Core PCE Price Index at 830pm GMT+8, am anticipating a better than previous result which could potentially see further downside momentum on DXY. 2. Sentiments from the market continues to be bearish on the DXY. 3. Economic sentiments from an increase in unemployment claims and final GDP q/q printing 2.6% lower than 2.7% forecast sets the...
Fundamental Backdrop 1. EURUSD has been bullish 2. Tonight's final GDP q/q for the US could give us an insight on the US economy 3. Market has been pricing in a bullish economy for the US which could potentially lead to short term downside potential in EURUSD Technical Confluences 1. Price is nearing the resistance level at 1.0881 and could see rejection off...
Fundamental Backdrop 1. Uncertainty continues to surround the USD 2. Fed balance sheet continues to inject money to aid the banks in crisis Technical Confluences 1. Resistance level that price is currently at can potentially be rejected before heading back down 2. Price could potentially create a new lower low 3. on the H4 timeframe, DXY is on a bearish trend...
Fundamental Backdrop 1. Plenty of uncertainty surrounding the banking and financial system/ USD. 2. JPY continues to be the more stable currency. Technical Confluences 1. Price in a strong bearish trend with price under the Ichimoku cloud 2. Lower lows and lower highs are being formed 3. Price can potentially retest the support level at 129.82. Idea Looking...
USDCHF has met all requirements for a break at retest in the same direction of last nights Asia trade. Lets see if they allow this one to play out to at least 2R
USDCHF has clearly broken a short term downtrend line, and retested a broken structure with a nice reaction. Lets see if we can go for 2R
The weekly and daily timeframe is showing a bullish trend, and remember the idea of the CADCHF setup I posted, this is what was expected to happen there. What do we expect here? A retest to 12000 SUPPORT zone and a bullish move to 13720. This is a long term buy for NASDAQ. Please do share, and give a follow to support.
Fundamental Backdrop 1. Plenty of instability in the market due to the SVB crisis and other banks being heavily affected by it. 2. The Fed is incentivised to either pause rates or maintain at 25bps due to the current instability in the market. Technical Confluences 1. Price is currently in a bearish trend. 2. Price is near the H4 support area at 102.65. 3....
All criteria for our playbook reversal setup met and entry using depletion of buyers