Nfp missed expectations and was revised down Friday along with Average hourly earnings which could ultimately lead to lower Cpi incoming tomorrow. Target $97.20 - $97 short term.
Trump expected to ink the phase one deal on Wednesday which could help boost riskier currencies also fueling more weakness
Weekly H&S pattern. First sell tp hit and now letting the market attract more buyers. Currently imbalanced 87% long and market should continue to find liquidity to the downside.
Sell entry $.9730 - $.9770
Tp1 - $.9660 Tp2 - $.9580
*Chf Cpi to be released early tuesday morning
Bullish Engulfing Monthly. With many countries recently slashing rates and posting record high bank balance sheet I'd expect Gold to test $1,550 area soon as a cheaper USD will naturally add bullish pressure
Nearly 80% retailers are in buy positions. With weakness of the USD, cad should see a nice boost in strength with indices. Target $1.2930(Weekly 200ema) - $1.29(Monthly 50ema area) - $1.2730( 1.618% retracement Daily). U.S. , Euro & China Manufacturing pmis to finish the volatility for this week.
Currently retailers Averaged 70% long DX and 70% short on Eurusd. Price recently has broken a Weekly trendline and retested for another impulse wave down, currently retesting the 1.0 swing low fibonacci retracement Daily. Target the 1.618 to the downside $95.60 - $95.10 with further breakdown depending on how fundamentals play out. November U.S. banks balance...
Cot positioning shows large speculators have dropped their longs by 50% since the start of the month. Sentiment is showing 88% retail traders positioned net long averaged over 9 brokers - tp1 $.97 tp2 $.9660. *Chf Kof leading indicators to be released along with U.S. goods trade balance, Chicago pmi & Pending home sales. U.S. banks balance sheet is currently at an ATH
Possible head and shoulders formation on Eurusd Daily chart after buyers failed to hold the 200ema Daily(Also currently under the 200ema 1H). Risk currencies have had major gains this week with Euro trading mixed not yet breaking the left shoulder despite money flowing out of DX. We can expect some pullbacks against DX going into next week with German retail...
NZD cuts cash rate more than expected 50 bps vs 25bps to historically low rate with the backdrop of Trade War escalation. Cad coming up into a Morning star 4h after oil took a 5% plumment today and Ivey Pmi beating expectations investors stayed the trend until the end of the day. 4H bear flag, target $.8330 or October 18' low.
EURJPY : Last 4H of the trading session and Euro holding gains over USD , while Jpy seems to be in a bear flag 4H and overbought Daily with its first red candle in 4 days. Target $120.40 short term(Daily 20ema). German industrial production expected to fall -.3%
Dark cloud cover Daily. Surprisingly Audusd net long positions are are a staggering 82% while net long positions for Audchf are at 75%. Chf should gain some safe haven buyers with it being above a Weekly support and the other safe havens such as USD and Yen have a heavy economic calendar which will raise uncertainty and volatility. With both U.S. and Jpy having...
After a very volatile week of Fed speak , the euro has settled around its Weekly low ahead of ECB interest rate decision. The German economy continues to deteriorate faster than expected while the U.S. has showed some solid data the past 2 weeks. Daily there is a H&S pattern after the completion of the inverse H&S pattern that sent us up to $1.1414, later...