SirBarkefeller

03:39

SirBarkefeller

Its a big day for the USDCHF as we flirt with the 100 day MA once again. Will price finally close above it for the first time since November? We will find out.

05:40

SirBarkefeller

RBA left rates unchanged now for the third time in a row which weighed heavily on this currency pair overnight. Sellers remain in control as we await the Aussie's GDP release tonight.

06:16

SirBarkefeller

US yields put the dollar back in charge last night extending the reaction from last Friday's US Jobs report. The case can be made for continued downward pressure on the precious metal today with a possible area to snag up a quick shorting opportunity. Feel free to extend your SL above the 100h MA if it makes you feel more comfortable.

SirBarkefeller Updated 

From a 4h perspective we are in an uptrend heading back to the Daily supply zone in the 136-138 range. I like the picture of a pretty steady climb back to that area without much interruption though. A new report from the Sankei newspaper tells us that Governor Kazuo Ueda will be meeting this week discussing long-term BOJ easing. Now, this really isn't much of a...

SirBarkefeller

At the time of writing I am waiting 20 minutes to see if we hold the 106.25 level. If we close on the hourly above that level I would place a limit buy at that mark and look to go long. A 75 pip PT with a 25 pip SL gives us a 3:1 trade.

SirBarkefeller

JOLTS may have just given us the small push needed to start seeing some pressure to the downside. I would be looking for a clear break and hold of this 4h trend line and then would consider a market entry looking to target the 38% fib level. We have also broke the 100h MA and realistically only have the 200h MA and psychological level of 144 in our path. I think...

SirBarkefeller Updated 

There are roughly 2734253647 different economic factors influencing this pair at the present time but the overnight sessions and the beginning of the NA session so far has just showed consolidation around current price. Some trade ideas worth entertaining though would be to look at relative highs and lows. Before that though, I see a decent 1h supply zone that...

SirBarkefeller

The Kiwi has just pierced the 0.59 mark dropping to its lowest level since April 2020. But does it stop there? Heavy selling pressure remains with the NZD starting the NA session as the weakest currency and a few factors likely keep weighing it down. Firstly, continued recession fears will likely continue to benefit the safe-haven greenback leaving the more...

SirBarkefeller Updated 

8:30 am EST tomorrow is a busy report for traders. I have compressed and summarized some info for tomorrow from recent data by Adam Button. Some goods news came today with a New York Fed survey showing one-year inflation expectations at a 10-month low and three-year inflation expectations at the lowest in nearly two years, but Fed officials will want to see...

SirBarkefeller

Gold rallied today on a weaker USD but some late NY session weakness is testing the metal's support. this 1h zone that is is sitting in appears to be the make-or-break area and decision area. If gold can hold here I would see it staying in the channel and meeting the above daily resistance at 1737. A breakdown of 1722 though provides decent shorting opportunities...

SirBarkefeller

The Sterling has been one of the better G10 performers today and starts the week on a positive trading note even with the dreary week ahead with the Queen's funeral. Next Monday was confirmed as the Queen's state funeral which will bring a bank holiday for the UK. UK CPI data this week should reflect some relatively positive news on inflation allowing the BoE to...

SirBarkefeller

The overnight Asian and European session showed us over 150 pips of Euro strength testing mid-August highs near the 1.02 area where a daily, down-sloping trend line held price there. Economic consideration surrounding the pair focuses mainly on continued Ukrainian war small successes which lessen the fears of a previously pending European energy disaster. A...

SirBarkefeller

The Asia session last night helped the GBPUSD pair gain some momentum and even cross int the 1h supply zone that formed back on September 1st. Those buyers could not sustain though and the sellers took over driving price back below the 1.15 mark earlier today. That area now holds as our new support point and a break of that challenges yesterday's low of 1.1443. A...

SirBarkefeller

In preparing for the BoC Policy Decision which comes to us on Wednesday at 10:00 am we see a retracement from last week's USD rally. Recent oil news proves choppy at best with OPEC announcing a small, 100k/bpd cut. It's essentially tearing a single page out of "War and Peace" with lingering global concerns. Looking towards tomorrow, the BoC is expected to deliver...

SirBarkefeller

This 1h trend line and 3h DZ is what is holding price right now. A break of these would lead me to believe that we target 1700 without much in the way

SirBarkefeller

Our last trade worked out quite nicely with a quick 2:1 profit and at its peak hit over 4:1. It held the support line nicely and the old DZ held and created a new 4h DZ. I think we are good for another trade in this area.

SirBarkefeller

We have a nice breakout of that DZ which broke greater than 2:1. We also have added support from a Daily trend line. Looks to be a decent trade.

SirBarkefeller

We are currently in a daily downtrend with a Supply Zone about 85 pips north of current price. Don't tie up buying power but rather set an alert close to the zone. If the DXY pushes back into an uptrend we should see relative AUD weakness following.