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ASX 200 mimics Wall Street's 'risk-on' rally into Jackson HoleOverbought indicators are of little use when markets are obsessed with rate cuts ahead of a key fed speech. Jerome Powell will speak at the Jackson hole symposium and Friday, and expectations for a dovish show are high. And that's helped Wall Street indices extend gains and the allowed the ASX 200 to tag along for the ride. But if this turns out to be a classic 'buy the rumour, sell the fact' tale, traders may need to factor in some of the overbought clues on the daily chart.
ASX24:AP1!Short
by CityIndex
EUR/USD, AUD/USD, NZD/USD levels into US PPI, CPI and RBNZTwo key inflation reports for the US and a potentially live RBNZ meeting over the next 24 hours has put EUR/USD, AUD/USD and NZD/USD onto my radar. And in each case, these markets have risen to interesting levels which hint at a weaker US dollar over the near-term. Part of this may be because traders are front-running weaker US inflation data. If the RBNZ treat markets to a dovish cut, it could make for the more volatile move out of the three pairs, whereas weaker US PPI and CPI could help EUR/USD have another crack at breaking above 1.10.
by CityIndex
Goldmine for breakout tradersMorning folks, So, it seems that "222" Sell last time was not a bad idea at all. Despite that BTC stands in rectangle we've got two nicely looking downside bounce. Now we have some nuances with the BTC performance, but to keep it simple it is mostly suitable for those who like to trade breakouts. If you do not want to wait a bit for clarity on daily chart, in what direction market still will follow, but want to trade today we could offer you few options. First, is, if you want to bet on upside breakout and take long position - try to do it as closer to the rectangle bottom as possible. For example - it is nice "222" Buy is forming and almost ready to go. The opposite is true for bearish position. Now we have no patterns, but they could appear later. Finally, for the breakout, if you do not care on direction. The simplest way to act is to use Stop Sell and Buy orders at once, placing them just outside of rectangle. When breakout happens, you just cancel the opposite order. That's all. I mark today's idea as "neutral", because it is volatility-based.
COINBASE:BTCUSD
by Sive-Morten
ZOOM Backwards, minus Z, plus N equals MOON (Moon Math edition)Lines labeled. Watch Trends. Note Daily Time Frame. Personally, I like 103 on a potential move to the upside. There is a possibility of some small downside in the short term, but it's a favorable buy if you're bullish on Zoom. Gap closes just over 100, I believe, so I'd use caution at that point. I could see something like this if it wants to ride those short term trends upwards. Breakout over this trend is likely to cause the higher price targets. ZOOM OUT (lol, puns) Weekly view. RSI is the thing to note here. 74 vs 72 looking at a bounce, If you don't know indicators, this simply implies bullish still, it can break down pretty easily, but it needs to close the week that way. This allows for a bigger view, which helps show how the price can justify such large swings. Extreme lows are 14 and under.
NASDAQ:ZM
by nicktussing77
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