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Nasdaq 100: NAS100 Powell Rides to the Rescue Nasdaq 100 NAS100 After an early session fail at the neckline Nasdaq duly found the support it needed but it arrived just above the 6698 line and then shot higher as Powell rode in to the rescue. It's since powered straight to the next target at 6902-6919 after a high at 6917. Thank you Jerry. Thanks to him that IHS completed in a few minutes flat :) It's shot up 3% today and is a little over-extended right now. As with the other indices covered tonight it would be handy if it came off from here, breaking below 6900 to trigger further weakness back to 6795 where it should bounce again (and from the neckline at lowest) in the event of weakness once 6900 is lost. And if we don't get the expected consolidation from current levels it can push higher still to 6955 at likely best overnight before it begins to consolidate from there - if so will have to see how it holds up at 6903-0 on any retests to judge how strong it's likely to be during tomorrow's session. Has to break above 6920 to scalp long to 6955 and then has to break above 6960 to follow long again (in event of no consolidation) to 7096.
FX:NAS100Long
by sumastardon
AUDUSD Short - Bat Formation and Inverted HammerAUDUSD was seen resisted again at a 2-month long resistance level 0.73. A bat formation is formed this time and an inverted hammer has appeared right at point D of the bat formation. As the dollar has retraced significantly after break above 97, it is very likely that the dollar may resume appreciation. Powell has stayed hawkish on rate hike too. Therefore, with a strengthening dollar and a bearish formation, AUDUSD is very likely to create a wave or two of depreciation.
Short
by AlgoVenture
EURUSD bearish below 1,1768- Jerome Powell in the spotlightHello traders, Jerome Powell is going to deliver his first testimony about monetary policy today at 16:00 GMT +2. Either today and tomorrow´s testimony in the senate are going to be crucial in order to catch more interest rate hike signs. Currently EURUSD is facing a clearly bearish medium term trend, unable to clearly break the 1,1768 level, quoting below the 50 SMA and unable to break the 0,386 FIBO neither. ECB is not expected to have interest rate hikes at least untill summer 2019, even though inflation and GDP growth are aproaching targets. While EURUSD remains below 1,1768 the bearish trend will prevail ; lets see Powell´s comments!! Enjoy your trading! Have a look at my previous forecasts: JPM UKOIL
by Adrian_Armentia
Outlook ahead of FOMCHello Traders! We're expecting the Fed's to raise the interest rates by a quarter at 14:00 EST and we're also awaiting on Powell's first speech. My bias remains bearish for the FX:EURUSD but i do expect a push higher prior to the drop to new lows given that the current rate hike is already priced in and what everyone is waiting for is the details on the plans for the year and Powell's commentary. The institutional data we have indicates slight long profit taking activity at the Weekly/Monthly supply which emboldens our short bias. In the case of a push higher im looking for the 1.2340 area to look for shorts but if we have a break & close below 1.2240 i will scale in my shorts from that point forward with a 1st target around 1.2180
Short
by MarioAlzuri