There are three days of longs in the market and little in the way of a shake-out, at least below Tuesday's US session lows of 0.5646. The price action took break-out traders up into the 0.5720 area only to be hit by strong sellers, resulting in a move into Day-2 longs from the Asian and the European session and in doing so, causing a vacuum of bids that resulted...
In this video, I break down the outlook from both a fundamental and technical basis on FOREX and Gold, AUD/USD, GBP/USD, EUR/USD and USD/JPY.
This video offers an analysis of the Gold price, US dollar and yields for the week commencing 16/17 Oct.
Cable is looking pretty peaky at this point and could offer an opportunity for Friday in London or NY, or both!
Today was just bizarre, to say the least. Dead cat bounce or what? Well, lets see how things pan out but be prepared to get short of the dollar if the set ups turn up on Friday and next week.
Well, that was a bummer! USD/JPY has been smashed, probably by Bank of Japan intervention.
USD/JPY has reached a big level on day three after three days of rise and is in the upper end of the 100 pip box....AND there is a new peak formation forming - what more could you ask for? Shame it's taking shape in the gap time around the London close and just ahead of FOMC minutes and before US CPI Thursday morning :( Let's see what happens. One thing to note...
In this video, we sold gold and took profit at a key support area
In this video, I go over the GBP/USD short that hit the target as a day 2 runner continuation trade backside of the trendline resistance.
This video is a recap of the trading session over the equities hours in NY. Made 2R for the day. Keeping an eye on USD and yields and looking for renewed strength for explosive trade setups later in the week.
USD/JPY melted to the target within an hour for 3R. This video shows the position is moved to break even.
USDJPY has sold off, sitting at 50, short from 80, eye 20
GOLD is moving out of consolidation and bid on soft dollar, yields....
AUD/USD broke a weekly level and the focus stays on the downside for the week ahead.
EUR/USD bearish to 9750, 97, 96 while DXY reemerges along with yields.
USD/CAD, FUNDS, seem to be on the verge of a move higher as explained in this video analysis now that it has run down to test 3750 and towards the daily support.
In this start of week analysis, it offers a bearish bias for the gold price that is being pressured following three levels of rising last week. It is sliding out of the bull trend and a pop in US yields could be just the ticket for a blowoff towards 1645. Check the 10-year chart attached below in the update as I forgot to do the analysis in the video....
The horse bolted and eyes are now on 1.3700/20 daily support...