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Pulemokhothu

GBPUSD 1.23455 +0.22% LONG IDEAGOOD DAY EVERYONE HERE'S AN IDEA ON THE GBPUSD PAIR, THE POUND WAS UNDECIDED AS USUAL DUE TO BREXIT WORRIES, WEAK ECONOMIC DATA UPDATES, SPECULATIONS ON THE BANK OF ENGLAND'S NEXT MOVE, GLOBAL RISK SENTIMENTS AND COUNTER CURRENCY FLOW. > THE POUND WAS STEADY AHEAD OF BREXIT TALKS THIS WEEK THERE WASN'T MUCH CHANGE AGAINST PAIRS SUCH AS EURO AND THE DOLLAR. > THE DOLLAR ALSO SAW A STREAM OF WEAK ECONOMIC DATA UPDATES BUT SOME POSITIVE SENTIMENTS ON THE ECONOMIC RE-OPENING > US-CHINA , RISING TENSIONS STILL AS CHINA WARNED US AGAINST SPARKING COLD WAR. U.S MOVED TO AUDIT CHINESE FIRMS TECHNICALLY WE ARE STILL IN THAT RISING CHANNEL IN THE GBPUSD PAIR THAT IS CURRENTLY AT RESISTANCE LEVEL 1.24038, THIS LEVEL IS KEY IF WE BREAK TO THE UPSIDE WILL BE LOOKING FOR LONG ENTRIES ON THE PAIR , > IF WE FAIL TO BREAK THIS LEVEL WILL LOOK FOR SHORT ENTRIES LOOKING TO RETEST THE CHANNEL FORMING AN ASCENDING TRIANGLE STRUCTURE SIGNALING A BREAK TO THE UPSIDE.... ENTRY - FOLLOW YOUR ENTRY RULES RISK MANAGEMENT PERIOD - SWING
Long
by PULEMokhothu
EURCHF 1.06693 - 0.09% LONG IDEAGOOD DAY TRADERS > HERE'S A LONG IDEA ON THE EURCHF PAIR, THE EURO HAD A GOOD WEEK IN THIS PASSING WEEK WITH ANNOUNCEMENTS OF A NEW RECOVERY FUND BY THE EUROPEAN COMMISSION. > SWISS TOOK A HIT IN THE PREVIOUS WEEK THIS ON A COMBINATION OF EARLY RISK SENTIMENT AND WEAK SWISS ECONOMIC UPDATES > EURCHF IS IN AN UPTREND AS WE SAW THE PAIR BREAKOUT OF THE DESCENDING TRIANGLE THE PAIR JUST BOUNCED AT 50% FIBONACCI RETRACEMENT AT SUPPORT LEVEL 1.06693. SHOULD WE TRADE ABOVE THIS LEVEL WILL BE LOOKING FOR LONGS IN THE PAIR. TARGET 1 - 61.8% FIB EXT ( 1.06598) TARGET 2 - 78.6% FIB EXT ( 1.070790 ENTRY - FOLLOW YOUR ENTRY RULES RISK MANAGEMENT PERIOD - DAY TRADE
Long
by PULEMokhothu
USDCAD 1.37679 + 0.06% SHORT IDEAGOOD DAY TRADERS HERE'S A SHORT IDEA ON THE USDCAD PAIR, IN THE PREVIOUS WEEK WE SAW SOME POSITIVE GLOBAL RISK SENTIMENTS FROM CAD GAINING STRENGTH ON OTHER CURRENCIES THIS PAST WEEK DESPITE A PULL BACK ON FRIDAY CAD ENDED THE WEEK ON A POSITIVE NOTE THANKS TO SOME RECOVERIES ON OIL . > THE U.S HAD A STEADY STREAM OF WEAK ECONOMIC UPDATES WITH SOME POSITIVE SENTIMENTS ON THE RE-OPENING OF THE ECONOMY AND THE OTHER FACTOR IS STILL CHINA TENSIONS IN THIS COMING WEEK.. LOOKING AT THE CHART WE FINALLY BROKE OUT OF THAT DESCENDING CHANNEL ON THE PAIR LOOKS LIKE WE WENT UP FOR A RETEST AND POSSIBLY CONTINUATION TO THE DOWNSIDE THIS COMING WEEK. ENTRY - FOLLOW YOUR ENTRY RULES ON PENDING ORDERS/ SELL ORDERS/ MARKET EXECUTIONS RISK MANAGEMENT PERIOD - SWING
Short
by PULEMokhothu
DXY 97.97 -0.34% SHORT IDEA GOOD DAY TRADERS... HERE'S A SHORT IDEA ON THE DOLLAR INDEX WHICH STILL REMAINS UNDER PRESSURE AS THE BULLS ARE STILL IN CONTROL ON THE INDEX. > ON THE DAILY WE ARE AT 61.8% FIBONACCI LEVEL AFTER JUST BREAKING OUT OF A SYMMETRICAL TRIANGLE POSSIBILITY OF A RISE STILL IN PLAY BUT LOOKING AT MOMENTUM TO THE DOWNSIDE AND ALL HAPPENING FUNDAMENTALLY LOOKING FOR THE INDEX TO PUSH FURTHER DOWN THIS WEEK TARGETING THAT 50% FIBONACCI ON THE DAILY... ENTRY - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING
TVC:DXYShort
by PULEMokhothu
USOIL 25.81 + 0.06% LONG IDEA GOOD DAY TRADERS LONG IDEA ON CRUDE / USOIL, ON THE HOURLY CHART WE HAVE AN ASCENDING WEDGE AT RESISTANCE AND THE DAILY WE HAVE A PENNANT FORMATION WHICH WE ARE STILL RANGING. > HOPEFULLY WE SHOULD SEE A BREAKOUT SOON ON OIL ITS JUST AFTER THE NEWS RELEASE AND THE CFD FAILED TO BREAKOUT, THE PRICE FELL BY MORE THAN 1% > INVEST.COM - The markets have rallied in the last several days on optimism that fuel demand destruction has bottomed out and producers have aggressively cut production to deal with the supply glut due to the pandemic. However, with governments signaling a long period before activity rebounds, risk assets like stocks and oil slipped on Wednesday U.S. Federal Reserve Chair Jerome Powell gave a solemn assessment of the U.S. economy and renewed his skepticism of negative interest rates. just a dark cloud because of that," said Bob Yawger, director of energy futures at Mizuho in New York. "It was such a negative speech it even eliminated what was easily the most bullish report since January," he said. U.S. crude stockpiles USOILC=ECI fell by 745,000 barrels, the U.S. Energy Information Administration said, compared with analysts' expectations in a Reuters poll for a 4.1 million-barrel rise. EIA/S Stocks in the Cushing, Oklahoma, storage hub USOICC=ECI fell by 3 million barrels in the last week, EIA said, filling the delivery point for WTI to more than 80% of capacity, as producers find themselves with fewer places to store oil. Globally, fears of a slow recovery are overhanging the market. "Fears are running rife that easing lockdown measures will trigger a second wave of coronavirus infections," said Stephen Brennoc at oil brokerage PVM. U.S. infectious disease expert Anthony Fauci on Tuesday told Congress that easing coronavirus lockdowns could set off new outbreaks of the COVID-19 disease that has killed 80,000 Americans and badly damaged the world's biggest economy and oil consumer. outbreaks have been reported in South Korea and China, where the health crisis started before spreading across the globe, prompting governments to lock down billions of people, devastating economies and demand for oil. EIA now expects world oil demand to fall by 8.1 million barrels per day (bpd) this year to 92.6 million bpd, compared with a previous forecast for a drop of 5.2 million bpd. statistical arm of the U.S. Department of Energy also expects U.S. output to fall by 540,000 bpd, against a previous forecast of 470,000 bpd. It expects global output of 11.7 million bpd this year and 10.9 million bpd in 2021. * CONTINUE READING BELOW za.investing.com STILL LOOKING FOR LONG OPPORTUNITIES ON OIL EVEN THOUGH IT COULD BREAKOUT IN EITHER DIRECTION FOLLOW YOUR ENTRY RULES IF WE BREAKOUT RISK MANAGEMENT PERIOD - SWING
TVC:USOILLong
by PULEMokhothu