Indices gap up on debt ceiling deal; USDJPY went slightly higher but now price is re-testing Friday's high on a possible fake breakout. If price breaks below 140.55, look for a short to target 139.97. Look for longs within the BZ, 139.61-139.99.
NDX made a huge recovery after the initial sell off, hitting the weekly BZ and rebounded; I would say the initial up was technical, price is oversold at BB extremes but the subsequent rally was due to NDVA. Price is now supported by the BZ and PZ at the same prices thus a double support. TBH, I thought the rally was rubbish but price action is looking bullish...
Yesterday gave the perfect move; GBPUSD hit PHOD on a fake move up on CPI news then gave a 120pips sell closing lows. I am still bullish DXY and nothing seem to indicate a top, though we could consolidate today. But now GBPUSD coming down nicely. IMO any rally till 1.2396 is a possible short for a move to 1.2306 with a possible further downside to 1.2269.
On Tuesday, market formed a doji and I said yesterday that expect a move down to re-test the lows (20 pips) and I was bullish DXY but indicate we might see risk off. Market hit the lows, did a fake out, then rallied higher. The BZ gave the lows and DXY did go higher and indices was risk off but still USDJPY went up. Today, we are approaching 139.89. It is a...
Yesterday's trade plan gave the top of and price sold off to the lows nicely. Price action looks bearish, looking for further downside with 13801 as max of day. BZ below is support but once 13623 break, 13503 is next.
GBPUSD gave almost perfect level to level move yesterday from BZ all the way down to PLOD and rebounded strongly back to OP, giving 120pips both ways. As mentioned, I am still bullish DXY, but it stalled at the monthly BZ. Could see some consolidation before the next move (up), thus this could show in GBPUSD. Note where PZ is and add to shorts on break of PZ and...
Yesterday was much a risk off day with indices coming down but USDJPY ended flat as USD continue to shine (I am bullish on DXY and still is). Other currencies showed bearish price action against yen. But if you look at the daily candles, not much clue on the next direction; price look like it is just consolidating. Yesterday's candle is a doji; will it be a...
I said we could see another down move (based on equities Friday down) on break of daily BZ. Instead, the daily BZ is the lows; thus it is either no trade or go long. Market went up to near the highs. PZ and BZ below are still acting as support; thus be long bias, and scalp longs with 139.25 as target for the day. Also, look for longs with 138.09 and 137.45 as...
DXY was strong yesterday but came down after hitting R at 101.75 or so. USDJPY as mentioned, 135.35 was strong R, which held the high, though it was much a sideways days for USDJPY. The same 135.35 level continue to act as R, though TBH tonight is CPI thus anything can happen. But for now, price action still look toppish here. IMO would likely revisit...
Eerie small range consolidation day yesterday, inside bar. Possible break in either directions. Above 16017 - long to 16049. Possible rejection from 16049 to 15981. 15983-16017 Neutral Below 15981 - shorts to 15941, 15915. 15915 - look for bounce on divergence target 15979. Break of 15915 bring us to 15843.