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Globalrisksentiment

USDJPY Possible Trade Opportunities. RetrenchmentOrContinuation? A strong U.S equities market and risk-friendly trading environment have helped push and breakout USD/JPY above a descending trend line on the 1-hour time frame. The pair were consolidated for a while London entered but then somehow the global positive risk sentiment news concern to coronavirus saying "China finding an effective drug to treat people with new coronavirus" pump the pair little higher but I guess there was some more hidden reason for price acting that manner earlier. Before the U.S. ADP report only a few hours away USD/JPY’s may have some possible retracement opportunity if today’s U.S. ADP report prints lower than market already weak expectations. We could see USD/JPY give up some of its gains and revisit 109.063 and this case should be considered to buy the rumors sell the news case. As we can see, the fib 38.2% level lines up with the previous resistance level 109.063 which is a good take profit level for bearish bias traders if the ADP forecast ends up being the actual or even worst. If today’s ADP release prints better than expected, then we could see USD/JPY trade higher without a significant retracement and bullish momentum may not fade away which will lead to some more new fresh buyers in this major pair!
by jessi061
AUDUSD Long Bias Trade Plan and IdeaTraders are in big-time risk aversion mode as more bad news on the Coronavirus outbreak continues to hit the wires. Most notable that seems to have traders running to safe havens. Safe havens like the Greenback have already benefited in the session, while risk currencies like the Aussie (and the major currency most likely affected by this outbreak given Australia’s strong economic ties with China). AUD/USD which has already made more than a full daily ATR move lower since the week open (0.6814) before bottoming out around 0.6765. This week, the US Federal Reserve is scheduled to have its first meeting this year and expected to decide on its monetary policy. The key interest rate will apparently remain intact, but that’s not 100%. One for the more prudent traders who like to go after higher risk-to-reward returns on this major pair will not hesitate to risk and we all know "No pain... No gain! meaning no risk no profit!"
Long
by jessi061
NZD/USD Asian Session Overview & Countertrend Trade IdeaReports of the death toll from the Wuhan coronavirus hitting the 100 marks against the 4,500 confirmed cases brought more bears to the markets’ yard today. And, with no major economic data on the chit, traders ran with the global risk sentiment for most of the Asian session. The prospect of reduced economic hit the Australian and New Zealand dollars, with the former seeing deeper losses as an Australian consumer survey hit a six-month low. Looks set for a retracement today’s U.S. durable goods report could also inspire some volatility in the next trading sessions. Bulls can take advantage of the support around today’s lows and countertrend on this major pair “retracement” until it finds fresh momentum. Countertrend trading isn’t for everyone but the reward-to-risk ratio is attractive if this major pair ends up back at the top of the channel.
Long
by jessi061