Contract - CME_MINI:MNQH2021
- High - 13056.25
- Low - 13028.25
Evening Stats
- Gap: = N/A
- Session Open ATR: 198.73
- Volume: 17k
- Open Int: 233k
- Trend Grade: Bullish
Key Levels (Rounded - Think of these as a range)
- Long: 13337
- Short: 12415
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions...
The S&P 500 has rejected highs. We have been calling this out for weeks. We appear to have a double top as well at 3825. It did find support at 3758, which is a technical and Fibonacci level, and now is finding support from 3793. The Kovach OBV does seem to be edging up, but nothing to suggest a breakout today. It could go either way at this point: to retest...
After this bearish impulse, it is likely that if the entry level is taken out we may see further downside. The EW count suggests the same. Also, with the inauguration occurring today, there is a possibility for a "risk off" economic environment to take the reigns which would mean a drop in riskier currencies like the kiwi and a rise in the safer yen. Cheers
Next Week would be much violent for any currency pair from both Trump's Inauguration day and Important US Economic data in focus :)
Without Important Economic Data from Japan implys most of the price movement in USD/JPY is driven by U.S. Dollar Index.. Thus, this brings us to big opportunities especially USD/JPY pair
Analysis
Abrupt Increase in price level to ...
Pre-Inauguration Trade should be much violent for any currency pair
Especially USDJPY
Furthermore, an upcoming week is full of important economic US news on focus. Without Japan's important economic announcement, it is likely that USDJPY will be mostly driven by US Dollar Index force.
So, big opportunity Next Week!
Analysis
Expect Bullish Three Drives with...
Amidst the OPEC agreements, Trump's inauguration which will likely increase for oil demand and production and the January typical decline in demand, I am still of mind that prices will find higher prices in the first, maybe second quarter of 2017 but will first seek to secure a higher weekly low support price.
I have been looking for a retrace to the 48.36...
