Altconomist

Altconomist

GBP began clawing back its losses from FOMC week as a silver lining appears to show through its Monetary Policy announcement. 1 more vote has joined Michael Saunders in beginning the asset tapering for Great Britain and this wasn't much of a surprise after seeing GBP smash its CPI Y.Y from last year's 2% to what it is now 3.2%. The market has seen this as a...

Altconomist Updated 

At the current trajectory of the market, the price favors USD before FOMC in hopes of the dovish words 'tapering' to proceed. We've seen the market shift into a risk-off mode where funds have run to the yen as a safe haven. As for gold, I see an opportunity for bulls to reverse as high-impact news hits the floor. Gold has currently hit a resistance point with a...

Altconomist

Trade is purely based on the technicals that have aligned in the market. USD continues its strength in move with a partial pullback in price. We are at a strong technical level with gold. Prices can rise to $1800 and consolidate above this level or we can see price complete a bearish fake out and continue dollar strength. Sell XAUUSD $1803.50 SL $1805.525 TP1...

Altconomist

Disappointing NFP results have discerned the market's want for USD dollars. GBP on track to continue its steady uptrend after being overbought with a slight correction. Buy GBP 1.38460 SL 1.38360 TP 1.38900 Confluence Details: 1. Price reversal and momentum change at 1.38500 key level 2. Bullish fakeout identified in a uptrend - (LH and LLs made within a...

Altconomist

The sentiment has been to sell USD as we start the new month in the fx market. Fundamentals haven't favored the dollar as covid numbers continue to rise and Non-farm Employment change has been disappointing. I see an opportunity for Gold to continue its trend upwards from August as we hit a slight resistance level at $1815.00. A price pullback may be just what...

Altconomist

Sell GBPUSD 1.39000 SL 1.39130 TP1 1.38500 TP2 1.38000 Context: - USD favorited news catalyst for Wednesday's ADP - New Minor Structure downtrend identified Confluence Details: -Trading off key area 1.39000 - H1 0.382 Fib level at 1.38980 (beginning of new trend so expecting strong downside) - H1 20MA dynamic resistance level at 1.39000 - H1 50MA dynamic...