XAUUSD getting ready for blast off??Good afternoon gold gang! hope you're well.
Wow, not much movement again today waiting for the FOMC minutes to come out. Gold price is hugging my middle level there perfectly tapping into it continuously.
This normally happens before a news event and is usually quite a big move coming from it, so lets see!!
I have my targets above and below .. we might even see a whipsaw where it takes them both .. who knows!
Until then, stay safe in the markets .. ill be back this evening with an update
Tommy
NEWS
USDCAD 3H: 21/02/2023: Short opportunity
Daily TA:
Well, you can see all the information on the chart.
If you have questions feel free to ask.
💥💥💥Important note: At first I should mention that it's not investment advice then as you know, today's CPI for Canada will be published so it's a high-risk trade, and as always we need a low time frame confirmation. Last but not least, if you look at daily TA you can see price can move higher and then fall. So be aware!💥💥💥
What News to Follow | Top 5 Forex Fundamentals
Economic indicators and announcements are an essential part of fundamental analysis. Even if you’re not planning on finding trades using fundamentals, it’s a good idea to pay attention to how the overall economy is performing.
Here’s a cheat sheet covering six key indicators and announcements to watch out for.
1. Non-farm payrolls (NFP)
The non-farm payrolls report estimates the net number of jobs gained in the US in the previous month – excluding those in farms, private households and non-profit organisations.
2. Consumer price index (CPI)
The chief measure of inflation is the consumer price index, which measures the changing prices of a group of consumer goods and services.
3. Central bank meetings
As we’ve seen, most traders follow economic figures so they can anticipate what a central bank might do next. So, it only makes sense that we pay attention to what happens when they actually meet and make decisions.
4. Consumer and business sentiment reports
Multiple organisations are constantly surveying consumers and business leaders to create sentiment reports. While the number of reports they produce is staggering, they all play their part in shaping the markets’ expectation for the future.
5. Purchasing manager index (PMI)
Purchasing manager indices measure the prevailing direction of economic trends in a given industry, according to the view of its purchasing managers. They are used as an indicator of the overall health of a sector.
Pay close attention to these fundamentals.
They play a crutial role in trading.
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Alantra is Leading the Charge in Sustainable FinanceAlright folks, let's talk about Alantra, the Spanish financial company that's making some big moves in the sustainability and energy sectors.
They recently made some key hires that really demonstrate their commitment to these areas. They brought on Francois de Rugy, a former French politician who's an expert in environmental, social, and governance issues. He's going to be a senior advisor, bringing his knowledge and experience from serving as Minister of Ecology, Sustainable Development, and Energy in the French government.
And that's not all. Alantra also hired Nemesio Fernandez-Cuesta, a former Spanish energy secretary, to serve as a senior advisor on energy-related transactions. This guy knows his stuff when it comes to the energy sector, having previously served as Secretary of State for Energy in Spain.
These hires show that Alantra is serious about sustainability and energy, and they've got more than 65 staff working in these areas, including ESG analysts, impact investment professionals, and sustainability consultants. They're well-positioned to take advantage of the growing demand for sustainable and impact investments, and they've got a diversified business model that includes asset management, investment banking, and wealth management.
Overall, if you're looking for a company that's making moves in the sustainability and energy sectors, you might want to keep an eye on Alantra. They've got some serious expertise and a strong market position in Spain and Latin America, and they're well-positioned to capitalize on long-term growth trends in the financial services industry.
Important USD news (CPI) Important USD news will be published today at 15:30!
By default, they cause large fluctuations.
All active positions must be reduced risk.
New positions are wanted after the news!
The more likely direction remains for the downside to continue towards 1.0620 and 1.0565.
This scenario breaks down on a closing above 1.0790.
Bitcoin Scalp Signal for Day Trading🖥️ We have determined there is a 65% chance Bitcoin will Rise from our current entry point.
📉 LONG - BTC : $21,800 📉
💵 Length of trade: we are expecting BTC to hit a $400 scalp, with a high end of $700, and a minimum expectation of $250.
🕰️ Duration of trade: we are expecting the minimum target to occur within 10 hours. Then we see the rest of this trade playing out around market open for NYSE.
📊🖥️ INDICATOR SHOWN ON CHART : Scot Signal Indicator
🅱️₿ LocalBitcoins To Shut Down, Bitcoin DropsLocalBitcoins is a huge name, even though they have no volume its closing down can definitely be felt across the market.
People tend to panic over anything and everything.
They made some really bad business decisions in the past and now it seems they are paying the price.
This will be just another minor "bump" in the road and Bitcoin will resume growing once the panic settles, the weak hands sell.
After 14-February we should start seeing better news on the Bitcoin side.
The Altcoins are doing great... That's what we trade when Bitcoin is undergoing consolidation, a correction or a retrace.
We will continue with the "Name Your Altcoin" series after Part 3 and comeback and finish part 4 and 5 when more people get involved.
We can do this monthly or bi-monthly, I'll update you on your favorite altcoins and thank you for the support.
As to Bitcoin, the only thing that will peak my attention is if we break below the $20,000 level/support. Any trading above this level and we continue 777% bullish, of course!
Namaste.
BITCOIN Falling on Kraken News to stop offering StakingBitcoin falls as the Kraken news is out.
Kraken has paid the SEC 30M in fines because they were offering securities through staking, they will no longer offer this.
More new to come out as an "Announcement" is awaiting to hit the public. There has been speculation that there will be some Crypto regulation announced soon...
Keep an eye on Bitcoin as the price action will reflect the up and coming news.
Good luck out there!
EURUSD My view for EURUSD today. There is trendline liquidity and trendline traders to be taken out. I think price will target their stop losses and then reach for the Daily Buyside liquidity. No entries for me today until FOMC. I will update you on Twitter and here If I enter any trade. Don't rush. Let the price show what it will do at 2.00 PM New York time. PATIENCE!!!
GBPJPY: BUYFundamental Analysis
Here are the key takeaways from BoE meeting:
1. The Bank of England's Monetary Policy Committee has increased the Bank Rate by 0.5 percentage points to 4%.
2. The vote was 7-2 in favor of the increase, with two members preferring to maintain the Bank Rate at 3.5%.
3. Global consumer price inflation remains high, but is expected to have peaked.
4. UK domestic inflationary pressures have been stronger than expected.
5. The MPC projects that CPI inflation will fall to around 4% by the end of the year.
6. The MPC will adjust Bank Rate as necessary to achieve the 2% inflation target sustainably.
7. The extent of domestic inflationary pressure will depend on the impact of the Bank Rate increases.
What implication could this have on sterling(GBP)?
Well, these are my thoughts:
The increase in Bank Rate by the Bank of England's Monetary Policy Committee could potentially have a positive impact on the GBP as a currency. A higher interest rate can increase the demand for a currency, as it makes it more attractive for investors to hold and deposit funds in that currency. Additionally, higher interest rates may also lead to reduced inflationary pressures, which can further boost the appeal of a currency.
While it is true that higher interest rates can cause the value of a currency to appreciate, it can also make borrowing more expensive, which can impact consumer spending and lead to a slowdown in economic growth. This is where it gets tough, right?
Disclaimer : This is not a financial advice. This is purely my opinion based on my knowledge of macro-economics.
Technical Analysis
Based on technical analysis of the GBPJPY currency pair, there are signs of upward price momentum. The price divergence observed on the M15, M30, and H1 timeframes suggests an over-extended market scenario, which could lead to a corrective move higher. A pristine internal supply zone, located between 159.358 and 158.655, has been created by recent whipsaw price action, providing further evidence that the market could move higher to liquidate this zone.
As a result, I have established a near-term price target of this internal supply zone. If price successfully breaches this zone, I will maintain my position, considering the potential for further price appreciation. However, I'll continuously monitor the market, as additional factors and market developments could impact the performance of my position.
EURUSD before FEDToday we await the announcement of interest rates by the FED.
This is the most important news right now and is sure to cause movement.
Bear in mind that there will be press conferences 30 minutes after the announcement.
Yesterday we discussed the buying zone which is already reached and we have a rise.
It’s important to see confirmation of this movement after the news. Only then we can enter into new trades.
If we see new rise, the first target will be 1,1000. In case of a clear movement we will be looking for further targets.