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.
Mitigation
(NZD/USD) Potential Long Term Move Down V1This is a Daily Timeframe perspective.
The Market has just tested a strong Bearish Ordeblockwhich is supposed to hold the market down. We also made a deceleration, going from a bullish market which is now a bearish market.
The black lines that are drawn on the chart, is Sell Side Liquidity which are attractive targets where the majority of Orders lay in the market,
The yellow areas are imbalances, where the market has moved too fast, creating inefficiency, so the market should fill a lot of these yellow areas. Another attractive area which the market wants to mitigate.
The blue area marked up all the way down is a bullish Orderblock, which could be a potential reaction point.
I don't know how far the market will drop, but I do expect a lot of these areas to get filled.
USDJPY DAILY - SHORTPrices tapped into the daily supply zone, made a shift breaking out of structure. However, it failed to make a lower higher, and therefore failed to transition into a lower low to make a downtrend.
This resulted in prices having the intention to mitigate higher prices within the daily supply, into refined areas like the H4 and H8 supply zones. In a similar fashion, look for the transfer of strong hands into weak hands before taking potential SELLS.