I am a bigger believer in sell low, buy lower, than I am in support and resistance. Golds reversal on Friday was accompanied by a rally in metals and commodities, meaning the US dollar weakness was in play rather than a new demand for commodities or precious metals. If we get a renewed strength in the greenback the price of Gold will tumble. What else has changed...
2016-2017 NFP Average = 168k (Trump Era) 2017-2018 NFP Average = 198k 2018-2019 NFP Average = 164k 2019-2020 NFP Average = -796k (COVID-19) 2020-2021 NFP Average = 474k (Biden Era) 2021-2022 NFP Average = 410k There was a time when 261k would have been outstanding, but following on from the big job reset in 2019/2020 the average was above 400k.
Will the market keep pushing lower as the pound falls precipitously or has the sweep of the recent swing low been enough to gather the buy orders. I wouldn't buy here, right now, but I would short a new low.
The GBPUSD is moving impulsively. A break lower than the current intraday low would signal a continuation of this bear move. The market has sold off continuously since the Bank of England raised rates, and this week is no different.
If the price action can get above 89.18, there is a decent probability of a continuation higher, as the oil markets have been grinding higher these last few weeks. A failure to get to the top of the most recent bull flag could be at the start of a distribution phase under the $90 mark. A stronger US dollar will put pressure on all commodities, and therefore the...
Waiting to see if the sellers step aside now from the 0.98800 level or whether they fight to keep it during today's NY session. FOMC raised by 75bps but NFP came in strong. Was the rate hike enough to kill job growth? GDP is being revised higher by the Atlanta Fed too. Powell will want to see some demand destruction before easing off the rate hikes. US dollar has...
Looking for a new lower low, to continue the decline of GBPJPY There is a massive imbalance that the market will look to fill and that ties in nicely with the target for today. A risk of 1:2 on every trade means we don't need to even get 50% correct and still come out on top.
I'd only consider going short the EURCAD today. All trades need to be closed by the end of the NY session on a Friday so as not to hold risk overnight. The ECB is looking for a recession and seems happy to keep killing productivity with rate hikes. The single currency is f'd.
You just need to look up the 2B entry system, but, because Tradingview is a place where no one thinks for themselves or is autobot compelled to write more. Here goes. 2nd November oil rallied in a continuation of the move from 31st October. It then dipped below the weekly opening gap, before pushing to a new high. That big push from 88.50 to 90.80 culminated in a...
In an uptrend, if a higher high is made but fails to carry through, and then prices drop below the previous high, then the trend is apt to reverse. The converse is true for down trends. This observation applies in any of the three trends; short-term, intermediate-term, or long-term. A 2B on a minor high or low will usually occur within one day or less of the time...
I will be looking for the EURUSD to carry on dropping today. This is also true for the GBPUSD, EURJPY and GBPJPY. Being short 2* GBP*** means I am doubling up my pound short exposure, same for the Euro. The US dollar is strengthening into the London session open
A lot of traders will be looking at this pattern today. Will the RH shoulder form and will the price travel back up to the neckline? The speculators will buy here, which means they will put their stops under the head. A big pool of liquidity is always a big magnet for stop hunters. I don't trade these patterns but I keep an eye on the market structure to keep...
Looking for the continuation higher in the US dollar index following the London open. We had a bull flag and have started to move but we need confirmation that the overnight trading is supported by the London trading desks when they digest what the Fed said last night.
So Tuesday, the high of the week? quite possibly. Wednesday, FOMC and Powell announce a 75bps rate hike. Talks down the market. Conveniently for anyone that shorted the gap fill, their target of the resting liquidity under the double bottom was realised.
150.00 is obviously an important level for the market. The BoJ certainly took notice at the breach of that level. The current intra-day trend is higher, with the US dollar appreciating against a basket of currencies.
The euro is a piece of crÄp and I have no interest in being long the single currency. So it's nice to see the commodity pairs applying some pressure to it. Unfortunately, this doesn't bode well for having cheaper oil in the near future in mainland Europe.
I don't see the XAUUSD or Gold contracts rising much more. We've retraced the 61.8% and yes, if we get a close above, we could go and test the previous swing high. But currently the price action appears to be stalling at the previous market structure. No trade for me today but I will be looking for a continuation lower tomorrow if these current levels hold.
For me the US dollar sell-off has finished. EURUSD went up to parity ahead of the ECB and now the US dollar bulls are back in control. There isn't a fresh level until we get down to 0.9665, so that's where I am targeting for now!