how amazingly the price holding within a range ahead of an important event in relation to fed jacksonhole. Thats my ev count. Believe we have just completed 4th and now final leg down. trade safe. risk management is the key
CME_MINI:NQU2022 - PR High: 13183.00 - PR Low: 13130.25 - NZ Spread: 116.75 Evening Stats (As of 1:25 AM) - Weekend Gap: -0.18% (open > 131250) - 8/19 Session Gap: -0.04% (open > 13540) - Session Open ATR: 267.50 - Volume: 19K - Open Int: 256K - Trend Grade: Bear - From ATH: -21.7% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 13794 -...
A measured move brings BTC down to 18K. Jackson Hole Symposium approaching tomorrow coupled with Friday equities profit taking could lead to continued bearishness over the weekend. Thoughts?
The euro has posted gains today and briefly punched above the symbolic parity line. In the North American session, EUR/USD is trading at 0.9978, up 0.11%. It seems that whatever angle you examine Germany's economy, things are not looking good. Services and manufacturing PMIs both remained in contraction territory (below 50.0) for a second straight month. The...
CME_MINI:NQU2022 - PR High: 12956.50 - PR Low: 12940.00 - NZ Spread: 37.0 Evening Stats (As of 12:05 AM) - Weekend Gap: -0.18% (open > 131250) - 8/19 Session Gap: -0.04% (open > 13540) - Session Open ATR: 272.02 - Volume: 16K - Open Int: 258K - Trend Grade: Bear - From ATH: -22.7% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 13794 -...
The British pound has jumped 0.82% today, as the currency has rebounded somewhat from its worst week of the year. GBP/USD plunged 2.53% last week, as the US dollar has found its mojo after weeks of beating a retreat. GBP/USD has climbed today after US New Home Sales dropped to 511 thousand in July, down from 585 thousand in August and well below expectations. UK...
EUR/USD has stabilized after a rough start to the week. In the European session, EUR/USD is trading at 0.9931, down 0.10% on the day and its lowest level since November 2002. After weeks in retreat, the US dollar has rebounded and is showing broad strength. The euro has taken it on the chin, falling 2.12% last week and down another 1.07% this week. It looks like...
$EUR - Be prepared...! $EUR - What a mess! We've shifted gears this morning. Fundamental reasons as I stated in my previous posts and various others there is no good data coming out of EUR. Now as you look across the board its DXY move and you have precious metals, crypto, Indices and majors under pressure. This could continue! However, further insight will be...
Welcome back traders to the last month of Q3. It was quiet from my side for some time, due to the summer holiday break and major risk events on the horizon. A lot has changed in a few weeks. The market was pricing in tapering and interest rate hikes by the FED in early June, but the sentiment changed quickly after a disappointing speech for dollar bulls by Powell...
Stocks dipped, finding support just above our level at 4462. We are currently testing 4487, which should provide resistance. The Kovach OBV is rounding off with the price action suggesting the overall momentum is petering out. Watch for news events from Jackson Hole to influence the price, and for stocks to remain in the value area between 4462 and 4487 until...
Today we expect to see big fluctuations in price on GOLD during and after the Powell press conference. That will happen in less than 2 hours! After the event we would expect a more clear direction for a little longer period of time. If you've been following our analysis, you know what we expect in the long-term. Today we will be watching closely what...
Copper prices are retesting support-turned-resistance in the 4.26-4.45 zone, marked by the intersection of a six-month inflection area, the uptrend from the Covid-induced March 2020 low, and a neckline support from early March. Signs of indecision in the daily candlestick structure and negative divergence on short-term momentum studies warn of topping. In all,...
Today we expect Powell's press-conference which at Jackson Hole. This will definitely affect price and provide us with some trading opportunities. However, short-term positions prior to that are quite risky. If you're looking for any day trading opportunities, I would suggest that you wait for that press-conference first. Before that we could see price...
Hello traders and welcome to the grand finale event of the year. Jackson Hole We are nearing the Jackson Hole speech by Jerome Powell, where he will lay the groundwork of the FED's monetary policy & strategy. Jackson Hole is extra important this year, as traders and investors are expecting a change of strategy by the FED for the coming year. The FED-cartel...
We're expecting another downside move on EURUSD. We now have the zone at which we will be looking for short position and that's 1,1788-1,1828. In order to make an entry we will be watching each candle inside of this zone. Once the downside move begins another key level will be 1,1723. Price breaking below it will only confirm the drop. This level could also...
The above chart shows the weekly FXCM USDOLLAR chart. We note that the higher trough followed by the higher peak has the greenback in uptrend. The momentum of this trend is defined by the gradient of the green trendline. However, we also note higher trough2 followed by higher peak2. These two points are defined by the orange trendline. I.e. the gradient has...
It is only a day away from the start of the central bankers' symposium on Thursday in Jackson Hole, Wyoming. Jerome Powell has already been making it clear to the markets for several days that the Federal Reserve's stimulus plan is coming to an end. Stop with the ultra-accommodating policy, zero-cost money and massive purchases of government bonds (120 billion a...
I have set-out my logic in prior posts of how I am exiting the SP500 market from prior longs bought more than 18 months ago - by selling into rallies. If an infrastructure deal goes ahead and debt ceiling issues are dealt to successfully, I will reconsider my current stance. However, I am happy to scalp particularly from needless / senseless market...