US: Debt ceiling talks, retail sales and jobless claims Despite inflation concerns easing somewhat last week, at least for the near term, markets still remain in a risk-off as debt ceiling talks linger. President Biden is expected to continue debt-ceiling talks with Congress leaders on Tuesday after last Friday’s meeting was postponed. The market is increasingly...
Japan: High expectations for Q1 GDP, with persistent inflation concerns Japan’s preliminary GDP for Q1 is due on Wednesday and will provide the latest insight into the health of the economy. Bloomberg consensus expects an improvement to 0.8% Q/Q annualized from 0.1% in Q4 when the economy narrowly avoided a recession. While a broader reopening of the economy in...
Australia: Jobs, wage data and RBA minutes on tap Australia’s labor market data is out on Thursday and expected to show the addition of 25k jobs in April after 53k jobs added in March, with the unemployment and participation rates seen steady at 3.5% and 66.7% respectively. Just a day ahead of this release, we also get the Q1 wage price index which could be a...
UK: Labor data to keep Bank of England expectations hawkish The Bank of England has made it clear that the decision on June rate hike will be underpinned by the two sets of wage and inflation data out before the next meeting. The first of these unemployment and wage numbers will be out on Tuesday, with consensus expectations not suggesting any let up in concerns...
Past Performance The Euro is disintegrating following the events of last week. With the path defined, sellers can continue looking for entries to unload as they press on, targeting $1.0730. The middle BB caps the upside as a floating resistance level, while $1.100 is a fixed reaction line that must be broken for buyers to push higher. #EURUSD Technical Analysis...
On Friday, short-term selling to 1.0840 worked and EURUSD is holding above these levels for now. It is recommended to move your stops and reduced the volume. Watch for another decline and a possible reversal from the levels below 1.0840. We need to see a pullback to enter, and a break of a previous high will confirm the move!
Fundamental Backdrop In light of the strong bullish sentiments surrounding the USD recently, price has made a bearish case for GOLD. Sentiments surrounding USD continues to be bullish with Fed maintaining its hawkish stance in the most recent FOMC meeting. Technical Confluences Daily support level at 1959.7 where price can potentially tap into before...
Fundamental Backdrop ECB hiked rates by 25bps most recently. Fed continues to see heightened inflation and maintains its uncompromising hawkish stance. Empire State Manufacturing Index release later on with market pricing in a negative print. Technical Confluences Daily support level at 1.0755 where price can potentially tap into. Price has...
Fundamental Backdrop Core Retail Sales m/m expected to improve from -0.8% to 0.5% Consumer spending will increase significantly, indicating improved economic activity Unemployment Claims data could be better than expected due to positive CPI and PPI data released last week Friday could be more volatile due to Fed Chair Powell's speech Powell expected to...
Fundamental Backdrop Inflation Expectations for NZD dropped from 3.30% to 2.79% q/q, causing AUD to drop from 0.68 to 0.668 last week. Wage Price Index q/q is expected to increase from 0.8% to 0.9% this week, which could lead to a stronger AUD. Employment Change is expected to drop by half and the Unemployment Rate is expected to remain the same, indicating...
Hello Traders EUR/USD is showing some bearish signs, like: 1- RD- in Daily TF 2- bearish movement in Lower TFs 3- Broken Rising Wedge But we need confirmations for further bearish moves, so we need to wait a little for the price to retrace a bit. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and...
Hello Traders Due to good results in fundamental events in the last few weeks, USD strengthened and DXY has jumped off the support zone. last week's candle has a decent bullish sign. We expect DXY moves a slow correction in the next few days(maybe weeks). Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and...
– Previous Weekly candle closed weak Bearish at 2010.900 forming weak Weekly Resistance at 2016.700, Friday Daily candle also closed Bearish. – Buys on close above 2015.300 targeting 1h Resistance at 2020.300, Leaving Runners to the 15min previous Support formed at 2027.200. – Sells on close below 2008.400 targeting 1h Support formed at 2002.800, Leaving Runners...
USD/CHF Long Bullish close last week. DXY Bullish engulfing. I expect this trend to continue next week. Therefore i'll buy when a pullback to the weekly 50% occurs. Stoploss will be placed slightly below our bullish engulfing candle (as seen in the chart).
The Nasdaq 100 is the last market we'll be discussing this week, it follows the same overall bullish narrative as the other pairs we've posted about today. Our analysis from last week was correct with direction and we expect this to continue. Our analysis this week indicates that the order flow is shifting towards a bullish direction, and we're looking for a...
Hey Traders, in the coming week we are monitoring USDJPY for a buying opportunity around 134 zone, USDJPY was trading in. a downtrend and successfully managed to break it out due to USD strength, If we get a decent correction the coming week we will be looking for a potential retrace of the trend towards more high around 134 support and resistance zone. Trade safe, Joe.
Outlook on GBPUSD: last week we managed to catch the drop of the pair two times exceeding 150 points. looking at the pair we se that it has not managed to break above the resistance line. Now we see a reversal pattern rebounding off a key supply zone. Our view is still bearish but we will wait further confirmation before entering any trade. If price closes...
Hello traders gold after recording a new high we have what looks like reversal after a sharp drop from the newly high we was a on pull back that probably will be a distribution in price we seen yesterday the market was trying to balance sell side imbalance now we might see a drop on gold to get to the less resistance liquidity areas lets see how it play out let...