Nfp
XAUUSD 5 may continue NFPbuy active continue
read previous map before this one
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im still xpecting this nfp creating new playing area after breakout 2005
and this nfp creating the low range. good opportunity for follow the bull.
even if the price goes to 2000, ill add another buy, with same SL price 1995. as long as this week doesnt closed bellow 2000
for those who want wait confirmation pattern, try to find pattern in M30-M15 time frame
EURUSD Potential Forecast | 8th May 2023Fundamental Backdrop
Overall, EURUSD continues to be a bullish case on the larger timeframe. There are good reasons to believe in a bull case due to the interest rate differential between EUR and USD.
Technical Confluences
1. Price is currently hovering around the previous swing high and bullish momentum has reduced to consolidation in price. Support marked out at 1.0755 where price could potentially retrace to.
2. On the daily timeframe of EURUSD, bullish pressure is waning and a deep retracement on EURUSD could be due soon.
Idea
Price can continue bullish to tap into the weekly high at 1.10922
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
XAUUSD Potential Forecast | 8th May 2023Fundamental Backdrop
With the volatility in place from last week's FOMC and NFP prints, the market has yet to stabilise and we could see volatility carried over from last week to the market.
Technical Confluences
1. On the daily timeframe on XAUUSD, price has tapped onto the key resistance level at 2050 before rejecting.
2. An area of support at 1959 is crucial to look at amidst the high levels of liquidity existing above this support.
Idea
With plenty of liquidity near the support, price could potentially tap area at 1959 before heading up.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
DXY Potential Short Forecast | 8th May 2023Fundamental Backdrop
We had the FOMC and NFP news release last week.
The FOMC increased its rate hike by 25 basis points as expected to 5.25%. The DXY dropped to a low of 101 after FED Chair Jerome Powell acknowledged the central bank's efforts to tame inflation is seeing some progress, also giving indication that it is nearing the end of its hiking cycle soon.
Although the NFP results were better than expected, increasing by 253,000 jobs last month, exceeding economists’ expectations, and the unemployment rate dropping to a 53-year low of 3.4%.
The results were overshadowed by traders watching for the Fed’s possible interest rate cut or pause which caused the DXY to weaken further after the NFP news release.
Technical Confluences
1. Near-term support at 101
2. Next key support at 100
Idea
The 1st support is at the 101 round number. We are looking for price to continue bearish towards that area. A break below 100.800 could potentially bring price towards the next strong key support of 100.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
💵 Dollar Buyers Pile Back in with NFP DataWell Dollar Buyers Piled back in with positive Jobs data. Eurusd returned back to the bottom of the range for the 3rd time in 2 Weeks. Our Daily Levels being 1.097 and 1.095. Quite the week for Swing traders and Scalpers playing the range.. Like who cares about breakouts anymore 😂. We were anticpating this data to take us out of the range and up to 1.115 but that is for another day.
The Weekly candle will either Pullback up or continue dropping to end the week. It appears that we may be going to correct the NFP release at 1.10111. This occurs a majority of the time. The timing can be quite tricky however. I've seen it take 2-3 Days or 2-3 Trading Session or even 2-3 Hours. Yes, or even less than an hour. Either way have a great weekend.
No trades today because
the sum of my Previous 5 Friday's
were
profitable BUT only on 20% of the days.
I had a Big Friday in Late March which brings the sum
of my recent Friday's to a positive.
If I had traded today I would have done well.
But as mentioned previously the majority of Friday's
are a Small Loss or Break even. It's Friday and even though I'm overall
up on the sum of my friday's, I would rather save my energy and go enjoy the weekend.
This doesn't mean that I can't still watch the charts. I did.
I had a B.E. week. It's better than a Losing Week!
Another week of experience under the belt. Safe Trading.
Xau 5 may *nfpstill uptrend, probably today NFP will make new clear playing ranges for next week. the arrow only news prediction what im wish to happen. careful of change direction in d mid of news
USD/CAD extends slide ahead of job reportsThe Canadian dollar continues to rally today and has climbed 120 points since Tuesday. Earlier in the day, USD/CAD touched a low of 1.3490, its lowest level since April 21st.
The markets will be treated to key employment numbers on both sides of the border later today. Canada is expected to have added 20,000 new jobs in April, following 34,700 in March. This would be the lowest reading in four months and would be a clear sign that the labour market is weakening as interest rate hikes make their effect felt on the economy.
In the US, nonfarm payrolls for April could move the dial on the US dollar ahead of the weekend. The markets are braced for a drop to 179,000, following 236,000 in March. There is a growing feeling that the labour market, which is been surprisingly resilient to relentless rate hikes, is showing cracks. Unemployment claims jumped to 242,000, up from a downwardly revised 229,000 and above the consensus of 240,000. Business optimism remains weak and that could translate into less hiring. If nonfarm payrolls fall to 180,000 or less, I would expect to see the US dollar lose ground, on expectations that the Fed may ease policy.
The Fed's rate hike of 25 basis points this week may have been the end of the current rate-hike cycle, in which the Fed has raised rates 10 consecutive times. Fed Chair Powell hinted that the Fed could pause rates as soon as June, although he reminded his listeners that the battle against inflation was far from over and didn't close the door on further hikes. The markets are betting on a pause in June, with a probability of 99%, according to the CME Group.
Powell said that given the inflation outlook, rate cuts were not on the table. The markets don't buy it and have priced in a rate cut at around 50% in July and a whopping 88% in September, according to the CME Group.
USD/CAD tested support at 1.3492 earlier. Next, there is support at 1.3435
1.3580 and 1.3637 are the next resistance lines
EURUSD before NFPYesterday, the ECB expectedly raised interest rates by 0,25% and caused volatility in EURUSD.
Today is third day with important news.
With this news we expect the direction to be confirmed and to see more clear entry grounds.
The more likely direction for now, remains 1,1090 and upon a breakout to confirm the uptrend.
Drop below 1,0985 will mean that there is no strength for the upward movement to continue and we will look for lower values.
XAUUSD Technical Analysis 05.05.2023 1h chart– Previous Daily candle closed Bullish at 2050.400 just above the Daily Resistance formed on 14th April 2023.
– Buys on close above 2056.800 targeting Daily Wick Fill formed yesterday (Thursday) at 2066.900, Leaving Runners to the March 2022 Monthly High at 2071.000.
– Sells on close below 2046.100 targeting Daily previous Resistance formed on 14th April 2023 at 2040.600, Leaving Runners to the 4h Support formed at 2034.600.
– High Impact News day ahead for the US Dollar and the US Economy, Average Hourly Earnings m/m forecasted to remain the same at 0.3%. Non-Farm Employment Change forecasted : 181k / previously was : 236k, Forecast increase to 3.6% from 3.5% on the Unemployment Rate.
Sell GoldLets have a look on TF M15
We have an accumulation to make a sweep upward and ready to sell downward area.
Good Luck everyone~
DXY Potential Forecast | Unemployment Claims | 20th April 2023Fundamental Backdrop
1. Unemployment Claims comes out at 245k compared to a 240k forecasted.
2. This highlights a worsening labour market and a potential sign that of recession in the US.
3. This is bearish on the USD and we could see potential bearish continuations in the market.
Technical Confluences
1. Near-term resistance at 102.09.
2. Price rejected this H4 resistance level and we could potentially see price head further down to break the structural low at 100.79.
Idea
Looking for price to continue heading bearish to the level at 100.79.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
DXY – Bearish pressureHey folks,
Hope you’re doing well today! We wanted to share some insights on the potential sell for DXY. As you may already be aware, the price has been in a downtrend for quite some time now, and we’re currently seeing a local downtrend within a bigger degree corrective structure. This correction may even result in a new yearly.
We’re exploring a couple of possibilities here, both with a high probability of breaking the low @100.82.
The first possibility is a small range that continues to make lower lows before breaking the low.
The second possibility is a bit more complex, with a deeper pullback towards the confluence created by the 4H order block, trendline, and the 50% FIB retracement level from the previous bearish impulse located at 102.2, before resuming the downtrend.
We recommend keeping an eye on the price action to get a better idea of which pattern will develop. We’ll be sure to keep you posted in the comment section below.
As always, trade with care and have a nice day!
DXY Outlook 11 April 2023Note: Not sure what happened at 3am (GMT+8) with the candle reflecting a huge spike up and down. Does not show up on my MT4, so I shall take it as a glitch.
Slightly surprisingly, the DXY strengthened strongly overnight with most major economies still on an Easter Monday bank holiday. It is most likely that because there are no/less counterparties to trade against the US Dollar, this "allowed" price to keep climbing higher.
However, as the price found resistance at the 102.80 price level and the downward trend line, the current price action on the DXY signals a retracement to the downside.
If the price breaks below 102.30 (which coincides with the 38.2% fib level) the DXY could retest the 102 round number support level again, with the 61.8% fib level close by.
Price action is expected to remain choppy, up until the US CPI y/y release tomorrow, with the data expected to signal further slowdown in inflation growth for the US.
This could indicate a slowdown in the FOMC rates decision, especially with the stronger than expected NFP data last Friday showing some "safety" in terms of unemployment.
NFP March 7th, 2023'In yesterdays publishing you can observe that our short term target was at 1.0938. Some buyers are taking profit as we have reached this minor zone 1Hr level. The bullish 4hr candle closed above 1.0918 which has been our Fakeout sell side entry area. This is bullish technically speaking. Looking at market structure it looks great. So we had a fakeout market strcutre display, but now look where the 4hr candle closed. EU being tricky. In larger context, I don't like buys as much at these prices. I like retests of 1.0867 to end the week off with NFP tomorrow. Price is consolidating near the Daily/Weekly highs and playing games. If we go Long, I like Bulls respecting 1.0918 , possibly wicking back down again to 1.089 and then rocket to mars at 1.103, Weekly timeframe wick fill.
Trading : Fortunately, I did trade and anticipate sells off this level after news was released this morning. Price wicked up violently triggering my buy stop. In profit for two seconds then hit SL. Only half risk here. Consequently, I took sells after we whipped back down and created a low to go fill in momentum. I scaled in with full size effectively and picked up 7.3 pips in 6 minutes. I took one more sell for +2 pips with higher risk which worked out well. Took 1 more trade with half risk and closed for small loss. Called the day there.
USD/JPY - Yen slides as Ueda says no plans for policy shiftBank of Japan Governor Ueda spoke at his first news conference as head of the central bank today. It wasn't quite a State of the Union address, but Ueda's message was clear - the current monetary policy was appropriate and he had no plans to make any major shifts.
There has been strong speculation that Ueda will make some significant moves, perhaps not right away but in the next few months. After years of battling deflation, Japan is facing inflation which has risen above the BoJ's 2% target. The US/Japan rate differential has been widening as the Fed continues to raise rates while the BoJ has capped yields on 10-year government bonds and interest rates remain negative.
The changing of the guard at the BoJ seemed to some as an opportunity for BOJ policy makers to take some steps toward normalization, such as tweaking or even removing yield curve control. Ueda poured cold water on this sentiment, stating that, “Right now, the yield curve control is considered most appropriate for the economy while tending to market functionality”. Ueda's message of "stay tuned for more of the same" has lowered expectations of a policy shift at the April 28th meeting and the yen has responded with sharp losses.
Japan's consumer confidence gave policy makers something to cheer about, rising to 33.9 in March, vs. 33.1 prior and 30.9 anticipated. This was the highest level since May 2022, although consumer confidence remains deep in negative territory, below the 50-level which separates contraction from expansion.
The week ended with a solid US employment report. The economy added 236,000 jobs last month, within expectations and softer than the upwardly revised 326,000 reading in February. The labour market is cooling but has been surprisingly resilient to relentless rate hikes and the odds of a 25-bp rate hike have increased to 68% according to the CME Group, compared to around 50% prior to the employment report release.
There is resistance at 133.74 and 135.31
132.18 and 131.67 are providing support
NFP Days As Reversal TriggersAs you see, NFP days more than often trigger major reversals on daily, even reversals from yearly tops.
Likewise, breakouts and big moves on daily are also triggerred by NFP days.
FOR EDUCATIONAL PURPOSES ONLY!
Catalytic effects of NFP DaysAs you see NFP release days often generate reversals, minor pullbacks on daily or are at the beginning of big moves, acting as catalysts.
Though I dont believe in big NFP reversal starting on low volume trading days, as we are in Easter Holidays. Hence today´s NFP day may go unnoticed as most of traders are gone for Easter holidays.
But otherwise we could see a catalytic move.
FOR EDUCATIONAL PURPOSES ONLY.
LIVE I QUICK NFP SCALPMake some quick money. in and out in a short amount of time. Good Friday has the market moving randomly
XAUUSSXAUUSD NFP
today NFP news waite to break trend line to buy
If can break trendline can rise to 2035
SPX500 Short on NFP NewsThere is a large fair value gap above recently engineered liquidity and we could see a move lower to take sellside liquidity after the market opens at 9:30.
GOLD → NFP data release. Price decline to support Gold is down to support before the release of the non-farm payrolls data. Earlier the price hit a new high at 2032, after which a technical pullback to the support of the price channel is forming. What to expect from the price today?
The forex market may be slow today as many countries meet "Good Friday" but also, we have the NFP data release today.
The forecast is for job cuts, so if the actual numbers are confirmed, the dollar could weaken a bit, which would affect the forex market.
Key support: 2000 (false-break or rebound strategy), 1990
The key resistance: 2012 (false-break) 2025 (breakout)
I think that the release of the actually underreported data might have a positive effect on the gold price and we will see a bounce of the price from the uptrend channel support, but I do not expect much of a market reaction, as a large part of the market is down today.
Regards, R. Linda!
