This video details why something can be a short, with a sell bias, but does not require an an enormous position. Keep it light when you cannot see anything above the previous high and you are in for an all time high. It saves you a lot.
AUDNZD has seen a rally on a more hawkish RBA VS a recent dovish RBNZ News Sentiment. There has also been little kickback after the latest rally and price is stalling. Digesting sentiment and planning price action level entries therefore is beneficial.
Yens have imploded post US CPI data, with no clear BOJ/ Japanese Government intervention. Likely we will see this unfold in Market Sentiment news upcoming. It's important to understand whether this will be a short or long term effect, and potential levels to trade it.
The continued dollar weakness of improved FED outlook has flowed into todays session PRE CPI. It will be interesting to see the effects of todays data which may take us to key Levels locally, and further away.
US ISM Manufacturing Data is on the docket as a red tag event today. This could move markets and shape up XAU/USD more. Gold has largely been unpegged sentiment wise, so any clarity on direction and the correlating news would be ideal. Tech levels covered.
After RBNZ comments/sentiment we have seen a surge in EN overnight. This comes off the back off NZD weakness and brings us to some ideal areas. Key Tech/PA zones exist slightly higher for short side entries. TGT comes at early support areas amongst reasonable uptrend.
Employment data comes out the US soon and it could affect the course of rhetoric/planning from the FED, directly feeding into USD movement. GBPUSD as a USD FX Pair shows us a lot, and we can cover plans pre news In a Tech/Fund format.
GBPCAD has rallied consistently over time, alike other CAD pairs. This comes mostly as the BOC has been quicker to take a dovish view. Other economies still lag slightly but are following suite, in this case the GBP. 1. Tech bias suits re short entries. 2. Sentiment bias supports re-balancing of near term value within trend.
Red tag Euro events are about to occur. This may move Euro pairs, should the reading be higher (bullish) or lower (bearish). Euro strength lately has been reflective of current ECB sentiment, so it will be interesting to see the Market reaction. We can study technical levels, as well as the Fundamental impact(s) of such events.
Tech / Fund aspects lie similar to what we have seen on AUDUSD. Price falling over a longer period with some rebound. A) Current price re-rising towards key price channel areas. Shorts to come at price action areas above on a tech basis. B) Sentiment driving price higher because RBNZ is showing more hawkish intent vs FED. Lots of ambiguity around FED direction...
The latest fall for the USDJPY has come off the back of general USD weakness, flowing from continued positive data (easing plans from FED dragging demand for USD). The fall, did not strictly come from any talk via the BOJ, although there has been some across the wires, it has shown absolutely no real direction yet. As rates are higher, demand flows straight back...
BTC has recently seen downside inflows on poor market sentiment / fundamental backing factors. Landing at key Price Action levels, longside flows have come in to start the week. Poor sentiment however has not faded. Here's my updated levels for entries/exits.
Jobs Data came out above forecast and we have seen a muted reaction from the USD as it only confirms what has been seen recently. No real shocker from it, leaning slightly on the USD weakness side. Tech Bias - Long term downtrend in-trend, TL being hit. Early price rejection and some short side indication(s). Sentiment/Fundamentals - Support a quicker easing...
Recent GBP strength takes us to previous price action areas (short). This comes inline with what is a break in the overall downside move. Tech bias - Shorts preferred now and higher nearer Key MA's. Overall Downtrend supports. Sentiment/Fund bias - Over-ruling long term market bias sits shorts. Willing to add long again minimally on falls.
Oil has rallied significantly as of late on the prospect of strong summer demand, amid some geopolitical issues. The demand that has fed in has upheld Oil strength. We can look to form a short case on these rises; 1) Key price action areas approaching (in trend). 2) Sentiment Bias does not suit, but will upon change. Value Trading is formed on this as entries...
BTCUSD has seen weakness over today despite FED rhetoric supporting USD falls / Equities rises. Planning ahead using Sentiment and key Tech aspects is vital to attain value on entries and be a smarter investor.
Slightly Dovish tones coming from FED chair powell has caused a fall on USDCAD from previous short zones labelled. Long zones exist below, 1) Tech Bias - Comes from price rejection (longside previously) at this level. 2) Sentiment bias supports tentative sideways movement, would not be shocked if you move to local highs again.
USDZAR has fallen significantly in trend, especially after FED comments yesterday feeding into USD Weakness. Price arrives at key long zones, with more risk averse areas available below. LZ2 preferred as lower inherent risk. Entry size will depend on Sentiment at this time.