GrizzlyBearBee

GrizzlyBearBee

The US is in a crossroad. The FED has repeatedly insisted that fiscal stimulus is necessary for recovery but politics has taken center-stage. The Fed's balance sheet is now at a record high but investors aren't buying yet. Pelosi and Kudlow are still moving slowly to agreeing on a deal and that is having a negative effect of the equity markets. The US election is...

GrizzlyBearBee

If you trade crude oil futures, you definitely remember that time - not long ago - when price for oil futures went into negative territory. Well, I think you understand that we are facing a similar situation. To make matters crazier, Libya started producing oil again. The country threw a spanner into the works as OPEC countries are trying to lower production to...

GrizzlyBearBee

It's no secret that the CAD is going to be weak in the coming months. Why? The demand for the Canadian Dollar is linked to the demand for oil. As more countries face a surge in Covid19 cases, scrict lockdowns are in the books in order to slowdown the rise in cases. This implies lower demand for oil is going to fall as more people work from home. I'll be looking...

GrizzlyBearBee

I'll be looking for a long term buy from December. Currently we have a precarious situation.

GrizzlyBearBee

I'm expecting DXY strength in the next few days with stimulus hopes before elections in the US fall. The YM1!, NQ1! & ES1! are struggling to hold on to a critical support level and if they breach the supports, further downside will lead for more DXY demand ES1! -> YM1! - > NQ1!...

GrizzlyBearBee

Things are not looking good for the European equity markets. Should the daily candle close below the current £5769 support, the March lows will be expected. Covid19 cases numbers are rising around Europe as Ireland becomes the first country to impose a national lockdown while Spain becomes the first country to cross 1m cases in Western Europe. EuroStoxx 50 - >...

GrizzlyBearBee

A breach of the 0.618 level and technical support will expose the Year-to-date pivot Low. It could be a Fakeout too based on the current fundamental information.

GrizzlyBearBee

The $1916 resistance is currently being rejected. If the daily close is above this area, the $1923 & $1975 target will be in sight. The DXY is still weak as the US equity indices still range in hope of a stimulus deal. The equity markets are on a risk...

GrizzlyBearBee

From the CFTC COT Weekly Data, net positions remain negative at 2.4k. This shows weakness. From a technical perspective, weakness is showing with price ranging within resistance and support levels. If a bear breakout happens, the February 2020 pivot high will be exposed. If a bullish breakout happens, the 3516.5 resistance will be open for a test. From a...

GrizzlyBearBee

The pair has broken above a strong 💪 level of resistance. I expect the pair to retest that level before going higher. AUD net positions in the CFTC COT Weekly Data dropped last week explaining the weakness in the currency.

GrizzlyBearBee

AUD/USD extends its four-day losing streak into Tuesday, looking to threaten the September low of 0.7006 while wallowing in three-week lows near 0.7032. AUD futures net positions dropped from 8.9k to 3.8k as 10k+ short positions were opened. Growth in China is slower than expected hence Australian exports to the Asian country could be affected. This coupled...

GrizzlyBearBee

Non-Commercial Traders have had a change of heart after closing the largest short position on the NASDAQ in more than a decade. Net positions including options from the CFTC COT Weekly Data now stand at 19,512. This is as a result of short positions falling from 142k to 54k. Traders, mostly retail traders have ploughed back capital into call options, used to...

GrizzlyBearBee

The EURO currently has a negative correlation to the DXY.

GrizzlyBearBee

The NZD is bullish in the short term as the DXY weighs heavily on the US elections in November. The country's GDP contracted in Q2 by -12.2% as opposed to the consensus of -12.8%. After elections in New Zealand, leadership is said to be more inclusive and this might have a positive impact on the economy as it recovers. The CFTC COT Weekly Data shows that...

GrizzlyBearBee

For the first time since June, the NET POSITIONS from the CFTC COT WEEKLY DATA, have gone positive. Long positions stand at 20.11k while short positions stand at 19.67k. This is bullish for the US DOLLAR as fundamental data isn't good for equity markets around the world, well, with exception of China, whose growth into the 5 years is likely to hit 25+% - thanks in...

GrizzlyBearBee

Well, the situation in Europe isn't pretty. Let me highlight a couple of issues. Slowed economic growth The Euro zone had registered slowed manufacturing growth way before COVID19 hit. The pandemic just hit the nail on the head. The region is now experiencing an economic slow down compared to the 2020 summer season and this is going to affect the recovery in...

GrizzlyBearBee

Buy Idea, waiting for signal 📶 to enter

GrizzlyBearBee

The EURO just massively rejected a trendline that acted as support in August & September. The current price action has been catalysed by DXY strength which has jumped in the evening (GMT+3).. This invalidates my previous idea, for now. I'll be looking for confirmation for a further drop If you agree with the idea, like or leave a comment below 👍🏿 👍🏿