GrizzlyBearBee

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 👍🏿 👍🏿

GrizzlyBearBee

If you agree with the idea, like or comment below 👍🏿 👍🏿

GrizzlyBearBee Updated 

Following DXY weakness and observing price action 📈📉 across major asset classes around the world, I'm repositioning myself for further bullish sentiment. However, I'll be careful as it is clear that this October truly is a surprising one with US politics and ECB sentiment being a big concern for me. An election year in the US sees major gains across equity...

GrizzlyBearBee

Personality, I feel that we have met the GOLD bottom for the year. Possibly forever. Well, my $1830 target 🎯 missed by $12, but that's OK. So, why do I think the bottom is in the past? Dollar Devaluation The US Fed has devalued the dollar through a number of tools. This has and will have an effect on the equity & commodity markets. See, when the dollar is...

GrizzlyBearBee Updated 

I've been monitoring the DXY this week and it has been a crazy learning experience. Initially, the DXY broke out of a descending trend only for the index to fall back into bear 🐻 territory. Just like many bear market enthusiasts around the world, I felt that it is beyond evident that the equity markets are highly volatile. Given the fundamentals factors - second...

GrizzlyBearBee

The pair remains bearish as it has rejected the 0.382 fibonacci level of the correction leg fibonacci retracement. The pair has formed a cup and handle pattern. However the bullish leg of the handle currently seems highly unlikely despite the CFTC COT WEEKLY REPORT showing that hedge funds are still bullish on the EURO while the CAD net position maintained at...

GrizzlyBearBee

DXY finna blow up. Other safe haven currencies already moving. Equity markets reacting aggressively.

GrizzlyBearBee

The EUR is still strong with the CFTC reporting that net positions remain largely the same. NZD on the other side, is neutral despite DXY weakness as it's ranging in the lower timeframes.

GrizzlyBearBee Updated 

M2, a measurement of the money supply, is a critical factor in the forecasting of issues like inflation. Inflation and interest rates have major ramifications for the general economy, as these heavily influence employment, consumer spending, business investment, currency strength, and trade balances. In the US, the Federal Reserve publishes money supply data every...

GrizzlyBearBee

The CFTC COT Weekly report shows that 12k short positions were opened while 6k long positions were closed. This largely bearish for hedge funds. On the other hand the GBP is gaining against the DXY as a result of DXY weakness since last week. New car registrations in the UK increased. In addition to this, PMI data from both the UK & US is good. Should the DXY...

GrizzlyBearBee

Initially, I was bearish about this pair due to the following reasons: Lockdowns With a surging second wave of covid19 cases around the world, I was expecting lockdowns in major cities. This would affect supply chains and oil demand directly. Since Canada is a net exporter or oil, demand for the CAD would be lower with movement restrictions. Following...

GrizzlyBearBee

The pair might attempt to go higher. From last week's CFTC COT Report shows that EURO FX futures remain largely bullish with 187k net positions while AUD futures saw close to 3k long positions being closed - Net positions are at 6.7k. From a technical perspective, price is currently at the 0.5 Fibonacci level. Price action on the lower timeframes indicate...

GrizzlyBearBee

The CFTC COT Weekly report shows that the net positions increased from 130k to 78k, bullish indicator. On the other hand, the candle from last week rejected the 0.5 and 0.382 fibonacci levels. I will be waiting for tech earnings reports to get a direction of the index. I'm still expecting tech stocks to perform well despite the macroeconomic situation.

GrizzlyBearBee

I'm expecting a volatile Monday with President Trump COVID19 positive results. He's currently working from Walter Reed. However, there's conflicting information about the President's health coming from the WH and his doctors. Monday could have a volatile session as investors look to reprice the market as the situation evolves. YM1! is still above a strong level of...

GrizzlyBearBee Updated 

With expectations of DXY strength, AUDUSD is well positioned for a short entry. The currency is currently rejecting a resistance level. It's also important to note that XAUUSD & XAGUSD are still very bullish, therefore, I'll be careful with this one. I'll be waiting for tonight's CFTC COT Weekly Data to confirm whether short positions were added to AUD futures....

GrizzlyBearBee

You don't need a crystal ball to know what will happen to the Turkish economy should the price of the Lira hits 8.000x. If you don't know, let me take you for a walk. The Lira has lost half the value in just a few years. To make it worse, President Erdoğan's policies have not been good either. Personally, I would call them blunders, and here's a list some of...