Weekly Downtrend Continuation?EURUSD - I missed the drop today (Check my previous analysis) by 2 pips...
I had a limit order set, I was hoping price was going to take out the liquidity between the C/A point of this shark, but it just missed...
Now price is pretty central and I don't like to trade in this area.
On the Weekly we're in a downtrend, so I predict a pullback then a break of the lows
(I also have multiple HTF weekly/Daily Deep crabs) pointing bearish and PA is also indicating the same, hopefully we get a pullback and price takes out the liquidity above before dropping!
Let me know your thoughts!
Liqudity
Butterfly Complete - Now Potential Bat!USDCAD - Looking bullish, we had a butterfly pattern complete on the D point which was also a previous weekly BOS zone.
Price then broke the LTF momentum trendline and broke structure on the 3/4H TF creating EQH, indicating bullish momentum.
Price is now making LH & HL and we have a potential bat forming, this bat fits nice with the weekly downtrend as the.886 lands in a weekly supply zone and is a good place to look for shorts if the weekly downtrend continues (Once/if price reaches that zone!)
Let me know your thoughts?
Butterfly, Pennant a & Liqudity! GBP/USD INSTANT BUY 📈
ENTRY: 1.37778
TP: 1.38880
SL: 1.37624
Re-entry ⚠️ (Risky use low lots to start)
PA is still bullish, we have a pennant on the Daily (If this breaks price will fly) We also have some nice intraday bullish patterns and trapped liquidity above, only downside is were inside a weekly supply zone so it's bull vs bears at the moment, but I'm flavouring bulls!
We already took 30 pips earlier, and PA is still looking good for buys, lets see if we can take some more! 🤘
NZDUSD Upside Correction | Market outlookThe NZD/USD pair corrects upwards after the US Federal Reserve's monetary policy decision.
USD falls after yesterday's meeting of the regulator and the subsequent comments of its head, Jerome Powell. In general, all parameters of monetary policy remained unchanged, and the quantitative easing program remained in the total volume of $120B. The official named stable inflation around 2% and unemployment of 4– 5% as a key goal. He noted that discussions on changes in the bond repurchase program continued, and members of the department devoted more time to this than before.
New Zealand authorities have decided to restrict the free movement of tourists from Australia. According to reports from the National Ministry of Health, the number of new cases of COVID-19 is on the rise again, and most of those infected are tourists from Australia. Thus, for at least eight weeks, all visitors from Australia will again undergo mandatory quarantine.
The country's macroeconomic statistics are relatively stable. The index of confidence in business circles in July slightly decreased and amounted to –3.8 points, while the index of business activity from the National Bank increased by 26.3%, which is inferior to the growth of June by 31.6%.
OIL EDGES UP | Market outlook
Oil prices edged higher on Friday and for the week after a strong recovery from Mondays steep slide, underpinned by expectations that supply will remain tight through the year.
Currently, the market is under the influence of opposite factors. Investors are alarmed by the growing incidence of the delta coronavirus, which could lead to new blockages and put pressure on global energy demand.
On the other hand, several experts believe that oil consumption will continue to grow soon, despite the increase in production by the OPEC+ countries, which is illustrated by the gradual reduction of oil reserves in the United States.
Technical Analysis
We will likely see one final drop before upside continuation. And it's recommended to buy the dips around 62 area and Sell around the rally around 73 zone. Above 76 we will likely see market make new highs.
AUDUSD | Market outlook
The pressure on the pair AUD/USD is increasing amid the rapid spread of the Delta coronavirus strain in Australia and the strengthening of the US dollar after the publication of inflation data in the USA.
Investors remain concerned about the epidemiological situation in the country. Victoria state was locked down for five days on Thursday following a spike in COVID-19 infections. Market concerns about the spread of the coronavirus are supporting the US dollar and weakening other currencies.
USDTRY - Preparing for a dip?
The Turkish lira under pressure from inflation data in the country.
June consumer price index rose from 0.89% to 1.94% MoM and from 16.59% to 17.53% YoY. As a result of the partial lifting of quarantine restrictions and an increase in raw material prices, inflation in Turkey has reached two-year highs, which does not give hope for the start of lower interest rates by the country's central bank until the end of this year.
EURUSD | Market outlook The data published by the US Bureau of Labor Statistics revealed on Friday that Nonfarm Payrolls increased by 860,000 in June. With this reading beating the market consensus of 700,000, the US Dollar Index (DXY) jumped to a fresh multi-month high of 92.74 with the initial reaction. Nevertheless, the greenback struggled to preserve its strength and allowed EUR/USD to reverse its direction.
XAUUSD | Market outlook
US Dollar Index consolidates weekly gains around 92.50
U.S. Treasury yields were lower on Friday after a strong payroll report left uncertainty about how the Federal Reserve might respond.
The benchmark 10-year yield was down 3.9 basis points at 1.4407% in midday trading. That was close to its level before the morning release of new Labor Department data showed U.S. job growth accelerated in June.
Gold rose on Friday, climbing further from a two-month trough hit earlier in the week.
GA LONGThis trade is based on various different confluences, Higher timeframe is still bearish however, on the hourly we have mitigated of nice areas of demand forming bullish orderflow. We have plenty liquidity grabs and a break of a supply zone to the upside. Finally we have re-accumulated at a trendline which indicates we are about to take retail liquidity from trendline and all the lower highs. I have two entries in place and I will split risk between them both.
Navigating The Market : Monday with Tue/Wed RelationshipThis write up is an extension to this post :
The concept is when the price on Tuesday or Wednesday broken and close above the Monday high, generally that potentially could be the "anchor" /high of the week hence the intraday trend of that week will rooted from this. Vice versa. Of course, this doesn't happen 100% of the time but it happens repetitively. Usually, this block (Tuesday-Wednesday) is, very often, the "final stage"/"final push" from the institutions with their price-fixing/stop hunts/liquidity hunt. It tends to extend until Thursday or Friday but generally, those block (Thursday-Friday) tend to be a profit-taking day for the banks