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Macro

USD Overview (10 December 2021)Yesterday, USD strengthened against most major currencies except GBP and JPY. The Unemployment Claims data (Actual: 184K, Forecast: 218K, Previous: 227K revised from 222K) released yesterday indicated a stronger than expected decline in the number of personnel claiming for unemployment benefits. The CPI m/m data will be released later at 2130 (GMT+8). CPI m/m (Forecast: 0.7%, Previous: 0.9%) CPI m/m (Forecast: 0.5%, Previous: 0.6%) Also, the Preliminary UoM Consumer Sentiment data (Forecast: 67.9, Previous: 67.4 revised from 66.8) will be released later at 2300 (GMT+8).
TVC:DXY
by JinDao_Tai
Money where your mouth is... ARKKI admire folks that are willing to put their trading out there for comment and criticism. It takes a lot of emotional control to trade in isolation much less when under public scrutiny. Cathie Wood was the idol of the trading world last year and widely followed for her style of exciting and parabolic investing as well as her public charisma and confidence. There was one interview in particular (I wish I could find it now but she has done many) where she acknowledged that within her trading history she has had cycles of incredible returns invariably followed by large drawdowns. She gave this interview right around the peak of her funds' performance last year. Real recognize real. That she would openly acknowledge and admit that she had self identified this pattern of her trading spoke to my own journey and likely that of all serious traders. She had acute self awareness and in some way, in that interview and comment, was warning people to be cautious with her strategy at that current moment. Now as her funds decline other traders are trying to make a name for themselves off her fall. One of which that has come to my attention is Puru Saxena. He is vocally short her funds and very bearish. That is fine for them to have a battle; no need for me to get involved. Cathie has her strategy focused on long term growth. Puru bases his strategy on macro. Neither are my game. But now it gets interesting for me as a Technical Trader. At the same time Puru is adding to his short AMEX:ARKK is sitting right at a 50% Retracement of the major trend. Over the last few days price spiked below this level only to recover quickly above it. These are my strategy. So now I get to step into this battle by putting my own capital on the line. It's a low risk/high reward trade. Not for the money but for the validation of Technical Analysis versus macro.
AMEX:ARKKLong
by norok
6
USD/CAD Outlook (09 December 2021)Overall, USD/CAD is trending upwards. Recently, USD/CAD bounced off the support zone of 1.26100. The Bank of Canada (BoC) kept its monetary policy unchanged during their meeting yesterday. On the matter of COVID Omicron variant, the central bank highlighted the renewed uncertainty caused by it “could weigh on growth by compounding supply chain disruptions and reducing demand for some services”. Nonetheless, the BoC is still expecting its 2% inflation target to be sustainably achieved in the middle quarters of 2022. The Canadian Governing Council member Gravelle will be speaking tomorrow at 1500 (GMT+8). During this time, there may be volatility in CAD. USD/CAD’s next support zone is at 1.26100 and the next resistance zone is at 1.29000. Look for short-term buying opportunities of USD/CAD.
Long
by JinDao_Tai
EUR/JPY Outlook (08 December 2021)Overall, EUR/JPY is trending downwards. Recently, EUR/JPY rejected the resistance zone of 128.500. The eurozone ZEW Economic Sentiment data (Actual: 26.8, Forecast: 22.4, Previous: 25.9) released yesterday indicated an increase in the level of optimism from the surveyed investors and analysts on the 6-month economic outlook for the eurozone. European Central Bank President Lagarde will be speaking later at 1615 (GMT+8). During this time, there may be volatility in EUR. Currently, EUR/JPY is testing to break above the key level of 128. Its next support zone is at 127.200 and its next resistance zone is at 128.500. Look for short-term selling opportunities of EUR/JPY if it bounces down from the key level of 128.
Short
by JinDao_Tai
USD/CAD Outlook (08 December 2021)Overall, USD/CAD is trending upwards. Recently, USD/CAD broke below the key level of 1.27. The Canadian Ivey PMI data (Actual: 61.2, Forecast: 60.2, Previous: 59.3) released yesterday indicated a faster pace of expansion in business activities in November. The Bank of Canada (BoC) will be announcing their monetary policy decision later at 2300 (GMT+8). It is expected that the central bank will be keeping monetary policy unchanged. Nonetheless, pay attention to the BoC’s view on how the Omicron COVID variant will impact their policy decision in the near future. Currently, USD/CAD is moving towards the support zone of 1.26100 and the next resistance zone is at 1.29000. Look for short-term buying opportunities of USD/CAD if it bounces off the support zone of 1.26100.
Long
by JinDao_Tai
EUR/USD Outlook (08 December 2021)Overall, EUR/USD is trending downwards. The eurozone ZEW Economic Sentiment data (Actual: 26.8, Forecast: 22.4, Previous: 25.9) released yesterday indicated an increase in the level of optimism from the surveyed investors and analysts on the 6-month economic outlook for the eurozone. European Central Bank President Lagarde will be speaking later at 1615 (GMT+8). During this time, there may be volatility in EUR. EUR/USD’s next support zone is at 1.12000 and the next resistance zone is at 1.13900. Look for short-term selling opportunities of EUR/USD.
Short
by JinDao_Tai
1