Join TonyD for a quick recap and look at the day ahead from a sentiment and fundamental point of view and key technical levels to be watching on main pairs.
Extremely overbought after blowing off the all time highs on news of a 100k Hertz Tesla deal, we have seen a few days of consolidation and over the weekend some extremely troublesome tweets from the owner and founder Elong Musk.
He tweeted, Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. then a...
Join easyMarkets Head FX Dealer Tony Darvall as he uses his 14 years of trading to bring you live analysis and trading plans for the US Non Farm Payrolls Today at the start of the US Session.
Gold has been trading sideways for the past 6 months but the range is getting smaller and smaller as the market coils up and should pick a side in coming days.
Topside makes alot of sense with gold seen as a natural inflation hedge in the past so could see a new story develop to support a rally. Even as USD has been strong this week it has crept higher.
Key...
XRP has been consolidating since early October inside a flag-like pennant and broke upwards earlier today.
This does not come as a surprise considering how well Ethereum has been performing as of late and that has now generated a tailwind for other big-cap altcoins such as Ripple (XRP).
Alt season is well upon us and the opportunity cost has started to get the...
USD/JPY has been consolidating the recent rally from Y112 in a fairly stable Y113-114.50 range, the next few days are really important for the USD with FOMC meeting tomorrow in the US session and then Friday NFP US Jobs numbers.
The last NFP was the day the USD/JPY broke Y112 but this time we are higher and the market is looking for the FED to update its forecast...
US stocks are getting more volatile in recent session as democrats race to find a compromise on the spending and infrastructure bills and Q3 earning are very mixed with huge selloffs in Facebook, twitter whilst Tesla surged on earlier in week.
The chart pattern is concerning for bulls as we failed to push on after breaking fresh all time highs earlier in week ...
Bitcoin touches the Daily 20 Exponential Moving Average and must hold it for the uptrend to have any shot at 75K USD.
For those who don't know, Bitcoin plays a special relationship with this short-term EMA.
Whenever BTC/USD closes above the D1 20 EMA and flips it into support, a bullish reversal begins and turns into an uptrend so long as the slope holds price...
AUD/NZD has found solid support in recent weeks below 1.0500 in the range it has played for many years between 1.0300-1.1000.
Australian CPI was higher than expected today on the key Trim reading which the Reserve bank of Australia (RBA) watches closely and likely will lead to the market buying AUD ahead of the RBA meeting next week on November 2nd.
Although the...
The NASDAQ (NDQ/USD) composite index bounces higher off the back of TESLA landing a 100,000 EV order from Hertz.
Moving forward, many big tech companies will be posting their earnings results in the coming days, such as; Apple, Twitter, and Amazon.
Should their results beat expectations then the NASDAQ will likely see fresh highs and a continuation up to...
A very strong new trend emerging that has stopped only on the first attempt at the 200DMA on the AUD/USD at 0.7550.
The trend is underpinned by strong commodity prices and the idea that Australia will not be immune to inflation as it reopens from lockdown and that the RBA will join RBNZ, BOC, BOE and the FED in being worried about inflation when it picks up in...
Bitcoin sets a new all-time-high at 67K USD and it is important to understand how the money flow in crypto works.
1. Bitcoin rallies into resistance ->
2. Bitcoin gets traded for Big Cap Altcoins ->
3. Big Cap Altcoins rise and rally into resistance ->
4. Money leaves Big Caps and then moves into Mid Caps ->
5. Mid Caps rise and rally into resistance ->
6....
Tesla has been charging higher recently but is overbought coming into the quarterly earning release. When we rally into the earnings the risks are skewed to downside from a positioning and disappointment point of view. Market is expecting good numbers but that may be priced in up here.
Whilst it is possible for the numbers to beat the street I would worry about...
A nice reverse head and shoulders is playing out and the break of the downtrend opens up a further squeeze higher. Oil and stocks are continuing to move higher and this is helping fund this trade via inflation fears and a weaker USD against commodities.
$25 is the eventual target but we are looking for moves above $24 in coming sessions.
Very nice risk reward...
Looking to buy retracements of the breakout rally on USD/JPY.
Y112 held for 3 years and was broken as US FED moves closer to tapering at the November meeting and US 10yr Yields move higher in anticipation.
US Inflation remains stubbornly high and whilst Oil and Gas remain at year highs Inflation fears will persist and help underpin the USD.
Can buy at Y112.70...
