All criteria for our playbook reversal setup met and entry using depletion of buyers
Fundamental Backdrop 1. USD continues to face uncertainty and volatility due to the SVB crisis. 2. All eyes will be on the FOMC meeting and the Fed Fund Rate. 3. More dovish on the USD will lead to EURUSD heading higher. 4. Fed might be restricted to hike rates by 50bps due to the instability of the banking industry in the US. Technical Confluences 1. Price...
2023 has been ushered in with a rebound in pockets of equity underperformance from 2022. Markets are coming to terms with the fact that stickier inflation and more resilient economic data globally are likely to keep central banks busy this year. Owing to which the spectre of interest rates staying higher for longer appears to be the dominant theme for the first...
Why this? Price is approaching a high resistance zone and might surpass February's high, then move to the yearly highs of 82.50 giving a false bullish move and then sell more. We can also spot the continuation pattern that shows price agreement tothe downside. Where am I expecting price to sell to? Well the lows of 2022 which is 70.00. Please do share, and give a...
Fundamental Backdrop 1. Inflation in GBP continues to be heightened. 2. A lot of instability in the US due to the Silicon Valley Bank crisis triggering a chain reaction to many other banks involved. Technical Confluences 1. Price has broken the uptrend as seen by the trendline. 2. Price can potentially retrace back to the trendline or the H4 support level at...
Fundamental Backdrop 1. NFP print came out 311k vs 224k forecasted. 2. Average hourly earnings m/m printed 0.2% compared to 0.3% forecasted. 3. Unemployment rate came out at 3.6% vs 3.4% forecasted. 4. Resulted in heavy bearish USD sentiments due to the wage inflation decreasing and unemployment rate increasing. 5. This shows the effects of rate hikes by the Fed...
Fundamental Backdrop 1. NFP due today at 930pm GMT +8. 2. NFP print and average earnings will be key to the direction of the USD. 3. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets. 4. A few US data releases has coincided nicely with Powell's...
USOIL on the 4h chart after our previous analysis reached the 80 level and dropped to the 0.618 Fibonacci area exactly over a previous support that has been tested a few times before. The market anyway did not create a new recent lower high and also for this reason we can keep to search for a long opportunity in the short term. How can i approach this...
Fundamental Context 1. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets. 2. A few US data releases has coincided nicely with Powell's speech. 3. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000...
Fundamental Backdrop 1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release. 2. Market sentiments surrounding the USD has been flipped bullish. 3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace. Technical Confluences 1. Strong bearish momentum and pressure happening onto AUDUSD. 2. Price has broken...
Hi everyone, CY back with another forecast. Let's prepare for a heavy and potentially volatile week ahead! Today's forecast will be for the upcoming week and the general direction where price can potentially head too with EURUSD. Let me begin.. Fundamental context 1. Next week will be an important week for the USD and there will be the NFP data release ...
Headlines today: Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated. DXY was at a solid resistance cooled off for a bit under it, and it just broke that resistance to the upside. If interest rates need to continue to be raised we would expect more upside in the DXY. Rate hikes continue as expected -> DXY will follow...
Is Sunday again with starting our analysis off with WTI oil. For us it's a pretty simple setup this week. We're looking for a play off of the supply at the high of our swing, we're looking for price to drop down lower towards the 15 minute demand that we have highlighted below. Now of course, if we don't get a reaction at this supply. We will look for price to...
Fundamental Backdrop 1. US Unemployment Claims were better than previous from 192k to 190k. 2. Unemployment dropped which showed that the the labor-market is improving . 3. Still alot of mixed sentiments in the market due to the mixed results of US data releases. 4. All eyes will be on NFP next week to see if the strong result will continue. Technical...
as you can see here we have a good chance to take sell USOIL we have a good setup , good price action also the market now in a strong zone
On this last Asian setup price action points to a potential short term opportunity using a variety of confluences, lets see what happens
Fundamental Backdrop 1. US economy has proven very resilient in the market. 2. Recent bearish movements stemmed from the drop in consumer confidence and the durable goods printing negative m/m due to Boeing. 3. However, market sentiments revolving around the USD remains bullish amid the stronger than expected economy. Technical Confluences 1. Price has...
Fundamental Backdrop 1. RBNZ raised the official cash rate (OCR) by 50 bps to 4.75%. Technical Confluences 1. Price is on a bearish trend on the daily timeframe, forming lower lows and highs. 2. Price has broken the daily support level and is currently retracing back to the support turned resistance. 3. On the daily timeframe, it seems that price is retracing...