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EURUSD Potential Forecast | 17th April 2023Fundamental Backdrop 1. Red news today like the Empire State Manufacturing Index could potentially result in a pullback for EURUSD before heading bullish again. 2. Market sentiments continue to favour the EUR against the USD given the potential interest rate differential between the 2 currencies. 3. Furthermore, USD economic data has been relatively soft and showcasing signs that inflation is slowing down significantly, which is a bullish driver of EURUSD. Technical Confluences 1. H4 support at 1.08764. 2. EURUSD continues to be on a bullish uptrend. 3. Structure has most recently broken. Idea Anticipate a pullback and for price to potentially head higher to retest 1.1076.
Long
by OlympusLab
DXY Potential Forecast | Pre CPI | 11th April 2023Fundamental Backdrop 1. CPI tomorrow will give greater clarity to the direction of the USD. 2. Last week's NFP result was positive and bullish for the USD, with unemployment rate falling to 3.5% yet again. 3. CPI m/m forecasted at 0.2% compared to previous 0.4%, market has been pricing in a further slow down in CPI. 4. CPI reading would provide insights to the next FOMC meeting and whether Fed continues to hike or pauses. 5. Core CPI m/m forecasted at 0.4% compared to previous 0.5%. 6. All in all, inflation has been slowing down and Olympus Labs forecast that the road to inflationary cooling will be a smooth one from here on out. Technical Confluences 1. Price rejected off resistance at 102.8. 2. DXY still bearish on H4 timeframe. 3. Price could potentially tap into the support at 101.67. Idea We are looking for price to continue its bearish trajectory till 101.67 and potentially form a new low. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYShort
by OlympusLab
USDCHF Potential Forecast | 3rd April 2023Fundamental Backdrop 1. CHF CPI m/m increased by 0.2%, much lower than the forecast 0.4% and previous 0.7% m/m. 2. The softer print of CPI shows that inflation has been slowing down at a much faster rate which could signify a dovish landing on the SNB. 3. Market Open on Dollar has been very bullish, however, with NFP lurking this week, expect plenty of volatility in the market. 4. USD ISM Manufacturing PMI releasing later on in the day and market has been pricing in a 47.5 compared to 47.7 previous. Technical Confluences 1. H4 resistance level at 0.921. 2. H4 support level at 0.9085. 3. Price could potentially retest the resistance level at 0.921. Idea Given the weak CPI reading on CHF, there is a weak bullish outlook on USDCHF as upcoming ISM news on USD is also slated to be a softer print. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
USOIL Longs, Surprise oil output cuts| 3rd April 2023Fundamental Backdrop 1. Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day 2. This can cause a bullish run in prices in the long run. Technical Confluences 1. Price near 81.7 resistance 2. Price shot through the support at 72.50 with strong bullish momentum, causing a market gap Idea With the oil cuts in place, we have a strong bullish bias. If price is able to break the resistance at 83.60, we could see price head towards the next resistance at 93.1 NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:USOILLong
by OlympusLab
DXY 2nd AprilAfter reviewing the market trends over the past week, it appears that we are still anticipating a bullish shift to occur in the near future. We have already tapped into the lower swing zone from our breakout level, which signals a potential upward trend. However, for this bullish shift to materialize, we must break the previous high that we put in after the break of structure. Once this occurs, we can expect to see the price shift back into the higher swing move. It is important to note that this process may take some time to fully play out, as market trends can be unpredictable. Nevertheless, keeping an eye on these trends gives us a clear idea of what kind of setups we can look for on our USD related pairs. By monitoring the market closely and making informed decisions based on the trends we observe, we can position ourselves to take advantage of potential bullish opportunities in the future. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
TVC:DXYLong
by PipSurfingSociety
2
Will Gold Touch 1913$ Next Week ?In what appears to be an unprecedented win, gold prices are up 9% for two quarters back-to-back as memory of this month’s U.S. banking crisis keeps the safe haven in demand, even as risk assets rebound from recent lows. Gold's highs came even as the S&P 500 climbed 6% over the past three weeks, shrugging off contagion worries from the U.S. banking crisis that led to the collapse of two banks and the rescue of another amid troubles in the European banking sector as well. So will the gold will come back to the support zone . For my opinion yes , because RSI indicate a bearish market is coming , so next week will be bearish for the gold metal , otherwise the yellow metal touched the resistance line .
TVC:GOLDShort
by ZumixFX
1
DXY Potential Forecast | 31st March 2023Fundamental Backdrop 1. Core PCE Price Index at 830pm GMT+8, am anticipating a better than previous result which could potentially see further downside momentum on DXY. 2. Sentiments from the market continues to be bearish on the DXY. 3. Economic sentiments from an increase in unemployment claims and final GDP q/q printing 2.6% lower than 2.7% forecast sets the tone for bearish continuations. Technical Confluences 1. Price is nearing the support at 101.67 2. If this support is broken, we could see further bearish momentum and a new low could potentially be formed beyond 100.802. Idea With a strong bearish bias for the DXY today, price could potentially tap into 101.67. However, do take note that it is a Friday and trade safely. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYShort
by OlympusLab
EURUSD Potential Forecast | 30th March 2023Fundamental Backdrop 1. EURUSD has been bullish 2. Tonight's final GDP q/q for the US could give us an insight on the US economy 3. Market has been pricing in a bullish economy for the US which could potentially lead to short term downside potential in EURUSD Technical Confluences 1. Price is nearing the resistance level at 1.0881 and could see rejection off this area 2. Any short positions or ideas would be an intraday perspective, especially given the uncertainty in the market currently. Idea With a medium bearish bias for the EURUSD today, price could potentially tap into the H4 support at 1.0755. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
1
DXY Potential Forecast | 29th March 2023Fundamental Backdrop 1. Uncertainty continues to surround the USD 2. Fed balance sheet continues to inject money to aid the banks in crisis Technical Confluences 1. Resistance level that price is currently at can potentially be rejected before heading back down 2. Price could potentially create a new lower low 3. on the H4 timeframe, DXY is on a bearish trend and we can anticipate further bearish continuations. Idea Strong bearish bias on DXY, anticipating price to tap into the key H4 support level below. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYShort
by OlympusLab
USDJPY Potential Forecast | 28th March 2023Fundamental Backdrop 1. Plenty of uncertainty surrounding the banking and financial system/ USD. 2. JPY continues to be the more stable currency. Technical Confluences 1. Price in a strong bearish trend with price under the Ichimoku cloud 2. Lower lows and lower highs are being formed 3. Price can potentially retest the support level at 129.82. Idea Looking for bearish trend continuation and for price to tap into the key support level at 129.82. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
DXY Potential Forecast| Pre FOMC | 23rd March 2023Fundamental Backdrop 1. Plenty of instability in the market due to the SVB crisis and other banks being heavily affected by it. 2. The Fed is incentivised to either pause rates or maintain at 25bps due to the current instability in the market. Technical Confluences 1. Price is currently in a bearish trend. 2. Price is near the H4 support area at 102.65. 3. Well below the ichimoku cloud, signifying bearish intent. Idea Looking for price to form a new lower low at 100.821. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYShort
by OlympusLab
DXY Potential Forecast | 10th March 2023Fundamental Backdrop 1. USD continues to face uncertainty and volatility due to the SVB crisis. 2. All eyes will be on the FOMC meeting and the Fed Fund Rate. 3. More dovish on the USD will lead to EURUSD heading higher. 4. Fed might be restricted to hike rates by 50bps due to the instability of the banking industry in the US. Technical Confluences 1. Price rejected off the resistance at 105.3. 2. Price can potentially come lower to reach support level at 102.65. 3. Given the uncertainty and fear, DXY has reason to continue heading down. Idea DXY can tap into the support area at 102.65. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYShort
by OlympusLab
1
Brace for volatility as inflation meets recession2023 has been ushered in with a rebound in pockets of equity underperformance from 2022. Markets are coming to terms with the fact that stickier inflation and more resilient economic data globally are likely to keep central banks busy this year. Owing to which the spectre of interest rates staying higher for longer appears to be the dominant theme for the first half of 2023. Global money market curves are re-pricing higher to reflect the tighter monetary scenario. For the Federal Reserve (Fed), markets have priced in a 5.5% terminal rate, somewhat higher than was suggested by the median dot plot back in December. While in Europe, 160Bps of additional rate hikes are being priced for the European Central Bank (ECB) with terminal rate forecasts approaching 4%. The speculative frenzy witnessed since the start of 2023, indicates that equity markets are discounting the fact that the global economy has not faced such an aggressive pace of tightening in more than a decade and the ramifications, although lagged, will eventually be felt across risk assets. Preference for international vs US equities Exchange-traded fund (ETF) flows since the start of 2023 resonate investors’ preferences to diversify their portfolios with a higher allocation to international markets versus the US. Since the start of 2023, international equity market ETFs have received the lion’s share of inflows, amounting to US$20.6bn in sharp contrast to US equity ETFs that suffered US$9.3bn in outflows. Looking back over the past decade, US companies outpaced international stocks owing to two main drivers of equity price appreciation: earnings and valuation. Earnings remain the key driver for equity markets over the long term. If we try to think about what lies ahead, we can see that earnings revision estimates are displaying a marked turnaround for China, Japan, and Emerging Markets (EM), whilst the US and Europe are poised to see further earnings contractions. China’s recovery remains the important swing factor that could enable its economy, alongside EM and Japan, to outperform global equities in 2023. At 8% of sales, Europe has the second highest exposure after Asia-Pacific (ex-Japan) to China. Yet it’s important to bear in mind that European companies earn twice the amount of revenue from the US than from China. So, a soft landing in the US will be vital for Europe to continue its cyclical rally. US valuations remain high vs international developed and EM equities US equity market valuations from a price-to-earnings (P/E) ratio remain high globally, whilst Japan continues to trade at a steep 29% discount to its 15-year average. Amidst the recent rally, European valuations at a 13.7x P/E ratio remain at a 14% discount to its 15-year average. That being said, three months ago European equity valuations were trading at a 35% discount to its 15-year average. After travelling half the distance to their long-term average, European valuations might have to contend with the headwinds of tighter monetary policy. Evident from the chart above, international markets ex-US continue to boast of favourable valuations allowing for a higher margin of safety, which is why we expect investor positioning to tilt in favour of international markets ex-US over the course of 2023. The battle between Energy and Technology stocks The Energy sector is coming off a strong year, as tight supplies and rising demand drove energy prices higher in 2022. While these dynamics have failed to play out so far in 2023, owing to the speculative frenzy in riskier parts of the market, we expect earnings results for energy companies, and their stock performance across the spectrum (including oil, gas, refining and services), to maintain momentum in 2023. Whilst investment in oil and gas production has been rising, it will still take multiple years for global supply to meet demand, which continues to support the narrative of higher energy prices. Refining capacity continues to look tight this year, given the reduced capacity and long lead time required to bring new capacity online. We expect this to support another strong year for the profitability of refining operators. At the same time, energy service companies should also benefit as spending on exploration and production continues to gather steam. The biggest risk to the sector remains if demand for energy falters in the face of a severe recession. However, as we expect most economies to face a modest recession, this risk is less likely for the Energy sector. Meanwhile, higher interest rates were the key driver of the underperformance of the Technology sector last year. We continue to see weakness in the Technology sector amidst rising risks of peak globalisation, weaker earnings, and the potential for more regulation. Despite the recent layoff announcements by technology firms, they still appear inflated, with employee growth in recent years 20% too high relative to real sales growth. The COVID-19 pandemic had accelerated the demand in software and technology spending with the rise of remote work and social distancing. However, companies today are more likely to cut their technology spending to offset the higher costs of energy, travel, wages, and other factors. The key risk, in our view, remains that valuations have come down, and if rates do begin to peak, selective technology companies could benefit from the growth generated by their cost-cutting initiatives. Value vs Growth in 2023 Value stocks tend to be positively correlated with higher inflation. In 2022, high inflation was a result of rising commodity prices, labour shortages, and fiscal stimulus provided by Western economies, whilst Growth stocks were penalised for their lofty valuations. Value-based stocks flourished on commodity supply constraints and cheaper valuations amidst a rising rate environment. Much of this is now priced into Value stocks. Most Value stocks’ earnings growth and valuation re-ratings rely on higher commodity prices or interest rates or a factor outside of their control. Owing to this, we still believe there are opportunities where constrained supply in the absence of falling demand will continue to support higher prices. There are significant prospects in Europe and Asia where discounts remain wide and sizeable valuation gaps exist across sectors. Europe’s energy sector accounted for two-thirds of Europe’s EPS (earnings per share) growth in 2022. The continuing trend of capital discipline, resilient earnings, and high shareholder returns should keep attracting flows into the sector in 2023. We expect Value stocks to be in better shape to withstand the global economic slowdown. Historically, the Value factor has demonstrated resilience during periods of interest rate volatility. Conclusion There is considerable uncertainty about how 2023 will unfold. As the key focus moves from inflation to a recession in 2023, it opens up the possibility of several outcomes for central banks and interest rates. Keeping this in mind, 2023 may well be a tale of two halves, with higher interest rates in the first half, followed by lower rates in the second half as a global recession takes centre stage.
ICEUS:MWL1!
by aneekaguptaWTE
GBPUSD Potential Forecast | 17th March 2023Fundamental Backdrop 1. Inflation in GBP continues to be heightened. 2. A lot of instability in the US due to the Silicon Valley Bank crisis triggering a chain reaction to many other banks involved. Technical Confluences 1. Price has broken the uptrend as seen by the trendline. 2. Price can potentially retrace back to the trendline or the H4 support level at 1.1961 before heading up. 3. Structure has been broken to the upside. 4. Price is resting well above the ichimoku cloud. Idea GBPUSD can create a new higher high on the larger timeframe and given the instability surrounding the USD, GBPUSD have potential to continue heading up. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
DXY Potential Forecast | Post NFP | 13th March 2023Fundamental Backdrop 1. NFP print came out 311k vs 224k forecasted. 2. Average hourly earnings m/m printed 0.2% compared to 0.3% forecasted. 3. Unemployment rate came out at 3.6% vs 3.4% forecasted. 4. Resulted in heavy bearish USD sentiments due to the wage inflation decreasing and unemployment rate increasing. 5. This shows the effects of rate hikes by the Fed and hence sentiments believe that the Fed now has lesser incentive to hike by 50bps in the upcoming FOMC. 6. All eyes will now be on CPI release this week and if CPI drops, we could see further downside pressure on the DXY. Technical Confluences 1. Price reacted from a H4 resistance zone at 104.6 and has since went lower. 2. Very strong bearish pressure from Monday's asian open. 3. Price action has shifted market structure to bearish. 4. Would be appropriate to look for short positions on the USD. Idea Price can potentially come lower to tap into the key support level at 102.65. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYShort
by OlympusLab
DXY Potential Forecast | 10th March 2023Fundamental Backdrop 1. NFP due today at 930pm GMT +8. 2. NFP print and average earnings will be key to the direction of the USD. 3. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets. 4. A few US data releases has coincided nicely with Powell's speech. 5. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000 previous. Technical Confluences 1. Price is still in a retracement. 2. All eyes on NFP tonight at 930pm GMT +8. 3. Anticipating for price to head higher to clear further levels above. Idea I will be looking for price to continue its bullish momentum in the market. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYLong
by OlympusLab
USOIL on a hot level 🦐 USOIL on the 4h chart after our previous analysis reached the 80 level and dropped to the 0.618 Fibonacci area exactly over a previous support that has been tested a few times before. The market anyway did not create a new recent lower high and also for this reason we can keep to search for a long opportunity in the short term. How can i approach this scenario? I will wait for a potential break of the 0.5 Fibonacci level and in case the Planxcton's strategy will be satisfied i will set a noce long order.
TVC:USOIL
by InkyGrip
10