Nasdaq NDX - What bearish moves we had on the indices yesterday!
I will now explain why we had this move:
1) FOMC FED - Rates kept as same, nothing new in that aspect. During Questions - We had now the mention Taper tantrum was mention, that's a key word to keep in meaning they could decrease the amount of asset purchase that would increase yields further...
GBPUSD H4
Looking to realise this full correction down to 1.37400, probably something we focus on next week as opposed to this week.
Been a while since we saw a cable pullback, so this will be good for us to look to position ourselves in line with potential GBP longs again.
There is a lot of imbalance within the 1900 region of the Gold market & Gold failed to retest the major resistance of 1912 before crashing down hard. It will now go back up to fill the imbalance and in the process manipulate the markets which in turn will stop out sellers who sold at the bottom without any confirmation.
Also, a negative correlation to USDJPY...
EURJPY H4 - This range has been going on for over a month now, for the majority a 70 pip range, but has extended 80 or 90 on a couple of occasions, big rally leading into this consolidation, following this until it breaks.
USDJPY H4 - Still bearish bias for the USD personally, there isn't any real reason to justify reasons otherwise. Popped back above S/R but nothing to indicate a change in trend, USDCAD is the anomaly, setting fresh highs off the back of OPEC talks. Summary in the above video.
Summary: The FOMC meeting last night failed to produce any indication of new easing measures from the Fed, an initial disappointment, but one that was quickly wiped away as Powell and company entirely failed to indicate any concern with recent market developments. Elsewhere, GBPUSD is breaking above major resistance on fresh hopes of a last second Brexit deal...
Summary: The FOMC meeting last night failed to produce any indication of new easing measures from the Fed, an initial disappointment, but one that was quickly wiped away as Powell and company entirely failed to indicate any concern with recent market developments. Elsewhere, GBPUSD is breaking above major resistance on fresh hopes of a last second Brexit deal...
Summary: The FOMC meeting tomorrow is arguably the last major macro event risk for the year. The meeting carries with it the risk of a market temper tantrum if investors fail to get what they want, namely, even more accommodation from a Fed that has been providing everything expected and more since 2019. The US dollar risks are distinctly two-way over this...
Summary: The price action yesterday smacked more than a bit of end-of-month rebalancing after an incredible month for global equity markets, but it could also be that USD traders are a bit nervous ahead of Fed Chair Powell testimony today and tomorrow, as much of the USD bear case is built on the anticipation in the nearest term that the Fed is ready to move...
Summary: The US dollar seems to want to go lower, but does not seem in any hurry to get there, with key near-term uncertainties perhaps holding back directional trades. Nonetheless, key support levels are looming in a growing number of USD pairs, and the backdrop remains supportive for greenback sellers unless something comes along to spook robust global risk...
GBPAUD is currently in an interesting position after support has held at the lower section of a long term bullish channel (4 years). Fresh bullish volume can be seen increasing on the Daily and 4HR, coupled with the Daily MacD in the heavily oversold region. Additionally, The Daily ADX has began to pinch after separation apparent. In regards to a price action...
Gold Futures (GC) chart has been coiling on a daily chart, trading risk-on along side with SPY (SPX500). The main trend for gold is up. MACD and RSI charts are pointing downward. Secondary lower top has been formed. Yet, prices are holding up. FOMC decision to keep rates unchanged at 0.25% was bearish for traders hoping for negative rates. However, facing high...
Comex Gold Futures and GDX, corresponding gold ETF, both took a dive on Tuesday morning. Crude Oil plunged another 14% in early trading creating a need for cash to cover losses. With FOMC rate and economic policy decisions due on Wednesday and ECB on Thursday, volatility is on the rise for the rest of the week. Gold is holding support at $1705 with potential to...
The upcoming US-China trade talks are in market focus now, with the two countries continue to flex muscles. In the latest move, Washington imposed visa restrictions on Chinese officials accused of involvement in repression of Muslim populations. In turn, Beijing said the US was using the excuse of human rights to interfere in the China’s internal affairs. As...
Late last week, investor sentiment has improved somehow due to generally positive US jobs data which curbed concerns over a potential recession in the world’s largest economy after dismal manufacturing and services PMIs.
This week is going to be busy as well, with a new round of US-China trade talks will be in focus. The reports that Chinese officials have...
The growing strength of the United States dollar has already fed up with a lot of things, Trump and American exporters to traders and analysts who have bet and continue to bet on its decline. Quite a long time ago, we have turned to dollars bears and also not enthusiastic about its unwillingness to decline. So it is time to find out the reasons for its...
