OlympusLab

OlympusLab

Fundamental Context 1. 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. 2. A few US data releases has coincided nicely with Powell's speech. 3. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000...

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Fundamental Backdrop 1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release. 2. Market sentiments surrounding the USD has been flipped bullish. 3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace. Technical Confluences 1. Strong bearish momentum and pressure happening onto AUDUSD. 2. Price has broken...

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Fundamental Backdrop 1. Upcoming NFP print can dictate the direction on BTCUSD. 2. Fear and greed index is inclining more towards "fear". Technical Confluences 1. Price is in a bearish trend, forming lower lows and lower highs. 2. Price has rejected off a H4 resistance zone at 22169. 3. Price looks poised to tap into the H4 support zone at 21400. 4. Price is...

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Fundamental Backdrop 1. Upcoming GDP q/q for the GBP releasing this Friday. 2. A positive print and above forecast will set the GBP for some bullish pressure. 3. Overall, due to interest rate differential and the difference in monetary policy stance of BOE and BOJ, GBP continues to appreciate against the JPY. Technical Confluences 1. Price has officially...

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Fundamental Backdrop 1. Fed Powell mentioned yesterday that the Fed will not hesitate to hike rates at a faster pace if data shows the resilience of inflation and the US economy. 2. This resulted in strong bearish pressure and momentum coming into EURUSD. Technical Confluences 1. Price has officially broken structure. 2. Lower highs and lower lows has been...

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Fundamental Backdrop 1. The Average Cash Earnings y/y dropped from 4.1% to 0.8%, this shows that consumers have lesser disposable income to spend correlating to lower income. 2. Bank Lending y/y increased from 3.1% to 3.3% which shows confidence in future financial position. However, this is overshadowed by Fed Powell's statement to increase interest rates,...

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Fundamental Backdrop 1. Fed Chair Powell spoke last night 2. He opened the door to higher and possibly faster rate increases 3. This will strengthen the DXY Technical Confluences 1. Price has broke above the 105 level 2. Next resistance at 107 round number Idea With Fed Chair Powell's comments being hawkish, expect the DXY to continue heading towards the...

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Fundamental Backdrop 1. NFP this week will solidify the bias for GOLD. 2. There have been alot of bullish sentiments in the market surrounding GOLD. Technical Confluences 1. Price has followed our previous forecast and have broken the H4 resistance (now support) at 1846. 2. Price have retraced and looks good to continue heading up to tap into the next H4...

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Fundamental Backdrop 1. Given Jan's whopping NFP print of 517k jobs, will the job market continue its resilience and stay strong consistently? Or was the month of January just an anomaly? 2. EUR is also riddled with plenty of economic news and data releases such as the retail sales m/m and CPI news release. 3. Mixed sentiments surrounding the USD due to the "hot...

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Fundamental Backdrop 1. Fed Chair Powell will be speaking later on at 11pm SGT, which could cause more volatility in the index. 2. Will update more after his speech. Technical Confluences 1. Price has reversed from a bullish to a bearish trend . 2. Price is also below the Ichimoku cloud, indicating a bearish market. 3. Near term support level at 103.750 4....

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Fundamental Backdrop 1. The Ivey PMI which is a leading indicator of economic health released dropping from 60.1 to 51.6. 2. This indicates that the industry is contracting. 3. Showing a decrease in business activity and confidence in the Canadian economy. Technical Confluences 1. Price recently bounced off the 1.35700 support level which coincides with the...

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Fundamental Backdrop 1. The Trade Balance dropped from 12.99B to 11.69B, this shows that export demand dropped which creates a greater demand for foreign currency, weakening the AUD. 2. AUD's Cash Rate is going to be released at 11.30am SGT 3. Based on previous data we saw a roughly 30 - 50 pip drop within the day. 4. Expecting the AUD to drop later on towards...

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Fundamental Backdrop 1. CHF's CPI is going to be released at 3.30pm SGT. 2. The CPI accounts for a majority of overall inflation 3. This affects The Swiss National Bank's decision on raising or lowering interest rates 3. Will update more when the CPI is released Technical Confluences 1. Price is currently heading towards the support at 0.93500 which coincides...

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Fundamental Backdrop 1. NFP this Friday is highly anticipated. 2. If NFP data release prints a solid data, this will further show the resilience in the US economy. 3. If NFP data release prints a negative data, this shows that January's NFP read was an anomaly and GOLD will be slated to continue moving up. Technical Confluences 1. Price is currently facing...

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Fundamental Backdrop 1. The Ivey PMI is going to be released at 11pm SGT 2. It's a leading indicator of economic health 3. The result is expected to be worst than previous, weakening CAD Technical Confluences 1. Price recently bounced off the 1.35700 support level which coincides with the 23.6% Fibonacci line. Idea If the Ivey PMI result released is worst...

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Fundamental Backdrop 1. GBP inflation continues to remain elevated at 10.1% for the month of January. 2. BOE continues to take a hawkish stance and most recently raised rates by 50bps to 4.0% in its February meeting. 3. Inflation would need to make a marked fall for the BOE to revise its hawkish stance in the market. 4. BOJ continues to maintain its key...

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Fundamental Backdrop 1. Cryptocurrency movement continues to be muted. 2. Bitcoin have a long way to retrace further. Technical Confluences 1. Price has rejected off a H4 area of resistance. 2. Strong bearish momentum ensued. 3. Currently price is flirting the H4 level of support at 22500. 4. Price have potential to come lower to the next H4 level of support at...

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Fundamental Backdrop 1. US Unemployment Claims were better than previous from 192k to 190k. 2. Unemployment dropped which showed that the the labor-market is improving . 3. Still alot of mixed sentiments in the market due to the mixed results of US data releases. 4. All eyes will be on NFP next week to see if the strong result will continue. Technical...