NASDAQ Trading Alert: Technical Setup and NFP Impact AnalysisAs we approach the upcoming non-farm payroll (NFP) report this Friday, there is a setup on the NASDAQ that's worth noting. However, I won't be taking any trades at the moment due to the potential impact of the NFP report on the market. Nonetheless, I'll still provide some technical insights to keep you informed.
It's worth keeping in mind that if the NFP beats expectations, this could potentially send the NASDAQ back to the downside. With that said, let's take a closer look at the technical side of things.
Recently, the NASDAQ has broken a higher time frame trendline and created a continuation pattern. If we see clear price action and a reclamation of our "Key Zone," there may be an opportunity for more upside. However, it's essential to exercise caution as this is a risky setup.
It's important to manage any trades carefully, especially given the potential market impact of the NFP report. By doing so, traders can mitigate potential losses and take advantage of any potential gains. So, good luck traders and stay vigilant! We hope this analysis helps you make informed decisions in your trading activities.
Nfp
Levels discussed during the webinar 9th March10th March
DXY range between 105.10 and 105.35
NZDUSD: Sell 0.6080 SL 30 TP 90 (good news)
AUDUSD: Counter trend up, 0.6640, SL 30, TP 60 (bad news)
USDJPY: no trade
GBPUSD: Buy after retrace 1.1940 SL: 30 TP 90 (bad news)
EURUSD: Both upside and downside potential
USDCHF: could go down, but not good RR
USDCAD: stay away
GOLD: climb to 1847 SL 1828
AUDNZD: buy 1.0825 SL 30 TP 60
EURAUD: sell 1.6030 SL 30 TP 70
USDCHF for a possible bounceAfter price broke structure to the upside, it reacted off a higher timeframe supply which it used to retrace back towards the initial expansion that left behind a clean OB with an imbalance. Price then formed liquidity at both the top of the expansion and above this OB and is now looking to take it out with the assistance of the long term OB to continue to the upside and take out liquidity at the top too. NFP to possibly fuel this move too.
EURUSD before NFPEURUSD is at important resistance level before today’s US job data.
They are an important indicator of the development of the economy and are monitored by the FED when deciding on interest rates.
We will watch for a pullback from the resistance zone and a selling opportunity.
We will look for an entry after the news when pullback from the zone.
In the case of an impulse rise, no trades is entered into!
AUDUSD Outlook 10th March 2023Overnight, the AUDUSD traded down to the 0.6568 support level despite the overall downward move on the DXY.
As the price failed to break the support level, a brief move to the upside could be likely.
However, if the DXY recovers in strength from the release of positive NFP data, the AUDUSD could continue with the trend and trade significantly lower, down to the next key support level of 0.6430.
Alternatively, if the AUDUSD rises beyond the 0.6635 price level, which aligns with the 38.2% Fibonacci retracement level, further upside could be anticipated, with the key resistance at the 0.67 round number price level.
Ultimately, the next directional bias for the AUDUSD will be highly dependent on the outcome of the NFP later today.
DXY Potential Forecast | 10th March 2023Fundamental Backdrop
1. NFP due today at 930pm GMT +8.
2. NFP print and average earnings will be key to the direction of the USD.
3. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets.
4. A few US data releases has coincided nicely with Powell's speech.
5. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000 previous.
Technical Confluences
1. Price is still in a retracement.
2. All eyes on NFP tonight at 930pm GMT +8.
3. Anticipating for price to head higher to clear further levels above.
Idea
I will be looking for price to continue its bullish momentum in the market.
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.
EURUSD Potential Forecast | 10th March 2023Fundamental Backdrop
1. NFP due today at 930pm GMT +8.
2. NFP print and average earnings will be key to the direction of the USD.
Technical Confluences
1. Price is currently retracing and have retraced to the 0.382 on the fibonacci levels.
2. Price can potentially tap into the key support level at 1.04655.
3. Price is still in a bearish trend and I will be looking for price to create a new low.
Idea
I will be looking for price to continue its bearish momentum in the market and to tap into the key support level at 1.04655.
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 Outlook 10th March 2023Overnight, the DXY continued its retrace to the downside after having tested the 105.88 price level, following the hawkish comments from Fed Chair Powell (he indicated that the Federal Reserve was ready to speed up interest rate hikes if the data warranted).
The DXY rebounded briefly early in the trading session today with the price testing the near-term support turned resistance level of 105.36. However, the DXY is likely to consolidate along the current level with some downside potential.
Watch out for higher volatility on the DXY today with the NFP due to be released. The previous release was 517k, with current forecast at 224k. A stronger-than-expected release could see the DXY retest the 105.88 resistance level again. Alternatively, if the DXY breaks below the 105 support level due to bad news from the NFP, the next key support level is at 104.10
XAUUSD LONG BIAS! (UPDATED)Hello all!
XAUUSD IDEA!
GOLD MITIGATED Demand Zone marked from last Top-Down analysis Video..
I have shared my POI for LONG position (All depends on NFP tomorrow).
There is a possibility it doesn't mitigate the confirmation area.. But, we will see!
Take care!
XAUUSD | GOLD | DECRYPTERS | NFP Hi people welcome to team DECRYPTERS
Today we will discuss nfp trade plan
" TECHNICAL ASPECTS "
-- initial bullish strucutre
-- bouncing from 0.618 fibo
-- bouncing from 200 daily ema
-- SMC involved (recent smc reversal as j-s)
--Bearish harmonic pattern forming
(last leg remaining to the up side )
--0.618 fibo level target
-- VIX 21 % up side (expecting reversal)
--DXY liquidity grab done , now expecting move to the down side
--LASTLY , tomorrow is Friday
" FUNDAMENTAL REASONS "
-- Last NFPdata was up 50% - 60% of avg nfp data( 300k)
-- if we look at pump ( we should expect some retracement)
--thursday unemployment data shows more people un employedmeaning less people at nfp so expecting less data.
EUR/USD Stages Mild Recovery Ahead of Nonfarm Payrolls The EUR/USD pair is taking a breather on Thursday, consolidating at the mid-1.0500 area, as investors continue to ponder Federal Reserve Chair Jerome Powell's hawkish testimony before the U.S. Congress and ahead of the critical nonfarm payrolls report (NFP).
At the time of writing, the EUR/USD pair is trading at the 1.0575 area, 0.3% above its opening price, after striking a two-month low of 1.0524 on Wednesday. The mild recovery in the pair comes on the back of a moderate pullback in the dollar, weighed by the retreat in U.S. bond yields.
Following Powell's testimony, expectations of a 50 bps rate hike by the Fed at the March meeting increased, which sent the EUR/USD to two-month lows. According to the WIRP tool, investors are betting on higher probabilities of 77% of a 50 bps hike at the next meeting that would take the federal funds rates to 5.25%.
Still, on Thursday, U.S. initial jobless claims data showed 211,000 people filed for unemployment benefits in the week ending on March 3, above the 195,000 expected, suggesting a little "pain" in the labor market ahead of the government jobs report.
Markets could face volatility on Friday after February's NFP report, as Jerome Powell stated over the last two days that employment and inflation data would determine the next FOMC decision.
From a technical perspective, the EUR/USD pair holds a neutral to slightly bearish bias on the daily chart as indicators stand flat on negative territory, while the price bounced from an ascending 100-day SMA but remains capped below the 20-day SMA.
On the downside, a break below the 1.0525 (100-day SMA) could pave the way for a retest of the 1.0500 level en route to year-to-date lows at the 1.0480 zone. On the other hand, the 1.0600 psychological mark and the 20-day SMA at 1.0630 line up as immediate resistance levels ahead of 1.0700.
Pre-NFP Analysis | 9th March 2023Fundamental Context
1. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets.
2. A few US data releases has coincided nicely with Powell's speech.
3. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000 previous.
4. JOLTS Job Openings came out at 10.82m compared to a forecasted 10.58m, beating expectations.
5. All eyes will be on NFP releasing tomorrow.
6. Given the recent strong USD fundamental news release, there is reason to believe that the NFP print will come out stronger than expected, which will highlight the resilience of the US economy once again.
At Olympus Lab, we believe that the USD can continue heading bullish in the market.
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 | PRE-NFP | 9th March 2023Welcome back guys.
In today's analysis, I will be talking about GOLD and the future where price can be headed towards.
GOLD has fell a whopping 485 pips since the start of the week.
Fundamental backdrop
1. GOLD's strong bearish pressure was credited to Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases".
2. Since then, not just has GOLD fell close to 500 pips , a few US data releases has coincided nicely with Powell's speech.
3. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000 previous.
4. JOLTS Job Openings came out at 10.82m compared to a forecasted 10.58m, beating expectations.
5. All eyes will be on NFP releasing tomorrow.
6. Given the recent strong USD fundamental news release, there is reason to believe that the NFP print will come out stronger than expected , which will highlight the resilience of the US economy once again.
Technical context
1. Price reacted off a key supply zone at 1856 odds and since fell close to 500 pips.
2. Key level of resistance at 1830 odds is an area I will be looking at for short opportunities.
3. Another great confluence to have is for current price to break the low at 1804.82 first before retracing up.
4. This would serve as a break of structure.
5. Target #1 has been marked out at 1766 and if NFP comes out to be strong again, we can see added bullish pressure onto USD and bearish continuations onto GOLD.
Risk management
1. However, if NFP print comes out poor, we can see the whole bullish pressure on USD being overtaken by the bears as the market has not priced in a poor NFP print and the market sentiments surrounding the USD will shift.
This will be the pre NFP chart analysis on GOLD.
Trade safe everyone.
Market has been extremely data driven since the past year or so.
Risk safely.
Let me know in the comments if you guys would want to see a post NFP forecast.
Regards,
Chern Yu
AUDUSD Potential Forecast | 9th March 2023Fundamental Backdrop
1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release.
2. Market sentiments surrounding the USD has been flipped bullish.
3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace.
Technical Confluences
1. Strong bearish momentum and pressure happening onto AUDUSD.
2. Price has broken certain key resistance levels and the latest one being 0.6627.
3. Given the strong bearish momentum, we can see price come further down in light of the NFP data release tomorrow.
Idea
I will be looking for price to continue its bearish momentum in the market.
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.
Oil prices caught in dollar's game, ahead of NFPOil prices are like a game of poker right now, with players trying to figure out what everyone else is holding. There's the China reopening story, OPEC's card tricks, SPR releases and refills, and the dollar's royal flush. It's a high stakes game, but the pot is huge!
Traders are watching NFP and CPI data like hawks, looking for any tells that might indicate which way oil prices are headed. Powell's hawkish comments have only upped the ante, with the markets going all in on a 50-point rate hike. Will they be able to bluff their way to a win?
For now, oil prices are stuck in a tight range of 73.00 to 82.50, like a hand with no pairs or straights. But there's still hope for a lucky break! You could try raising the stakes by buying a bounce off of the 73.00 level or buying a break of the 82.50 level. If you're feeling lucky, why not both? A break above 82.50 could mean a jackpot, while a break below 73.00 could signal a bust.
So grab your lucky rabbit's foot and get ready to play the oil price game! Keep your eyes peeled for any new cards on the table and you just might hit the jackpot.
EURUSD Potential Forecast | 6th March - 10th March 2023Hi everyone, CY back with another forecast. Let's prepare for a heavy and potentially volatile week ahead!
Today's forecast will be for the upcoming week and the general direction where price can potentially head too with EURUSD.
Let me begin..
Fundamental context
1. Next week will be an important week for the USD and there will be the NFP data release that determines the job/labor market in the US.
2. Given Jan's whopping NFP print of 517k jobs , will the job market continue its resilience and stay strong consistently? Or was the month of January just an anomaly?
3. EUR is also riddled with plenty of economic news and data releases such as the retail sales m/m and CPI news release.
4. Mixed sentiments surrounding the USD due to the "hot and cold" data news releases , from the poor durable goods orders m/m due to Boeing, to the decent ISM manufacturing index and to the weakening consumer confidence in the US.
5. However, next week will provide a confirmation to the upcoming bias for the dollar.
MY PERSONAL TAKE
I believe the USD will continue strengthening . The economy in the US has proved far more resilient than ever and the 517000 jobs added for the month of January was not due to an anomaly and there were gains in almost all sectors of the job market. If there is one thing, never bet against the USD.
Technical context
1. Price has been stuck in a 158.2 pip range.
2. On the HTF, EURUSD is still on a bearish trend.
3. However, on the H1 timeframe, EU is on a bullish trend.
4. Price has already swept buy-side and sell-side liquidity as marked by "liquidity taken".
5. Price is currently hovering at a LTF supply zone. (expected to be broken due to Monday's asian opening volume)
6. Price can continue heading up to clear the HTF buy-side liquidity as marked by the red line, which will then come back lower to sweep the HTF sell-side liquidity.
7. Inducement has been marked which serves as a greater confluence for price to tap into.
Thanks for tuning into my forecast on the upcoming week.
Pleasure to have you all here.
Best Regards,
CY
EURUSD Potential Forecast | 8th March 2023Fundamental Backdrop
1. Fed Powell mentioned yesterday that the Fed will not hesitate to hike rates at a faster pace if data shows the resilience of inflation and the US economy.
2. This resulted in strong bearish pressure and momentum coming into EURUSD.
Technical Confluences
1. Price has officially broken structure.
2. Lower highs and lower lows has been formed.
3. There is a high probability that price can tap into the key support at 1.0465.
Idea
I will be looking for price to continue its bearish momentum in the market and for price to tap into the H4 support level at 1.0465.
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 | 7th March 2023Fundamental Backdrop
1. NFP this week will solidify the bias for GOLD.
2. There have been alot of bullish sentiments in the market surrounding GOLD.
Technical Confluences
1. Price has followed our previous forecast and have broken the H4 resistance (now support) at 1846.
2. Price have retraced and looks good to continue heading up to tap into the next H4 resistance at 1862.
3. Price is hovering well above the ichimoku cloud, signifying strong bullish intent in the market.
4. All eyes will be on NFP this Friday to dictate the future direction on GOLD.
Idea
If NFP comes out to be worse than expected, we can see bullish pressure coming in onto GOLD. However, if NFP comes out good, signifying the resilient economy of the US, price can flip bearish for GOLD.
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.
EURUSD Potential Forecast | 7th March 2023Fundamental Backdrop
1. Given Jan's whopping NFP print of 517k jobs, will the job market continue its resilience and stay strong consistently? Or was the month of January just an anomaly?
2. EUR is also riddled with plenty of economic news and data releases such as the retail sales m/m and CPI news release.
3. Mixed sentiments surrounding the USD due to the "hot and cold" data news releases, from the poor durable goods orders m/m due to Boeing , to the decent ISM manufacturing index and to the weakening consumer confidence in the US.
4. However, NFP will provide a confirmation to the upcoming bias for the dollar.
Technical Confluences
1. Price is currently rejecting off the H4 resistance at 1.0685.
2. Price could potentially retrace to the next LTF support at 1.0622 where the ichimoku cloud lies which can also serve as a dynamic support.
Idea
Price could potentially tap into 1.0622 before heading back 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.
NFP week and -0.10% Japan interest rate thoughtsJapan interest rate is at -0.1% vs UK interest rate 4%
Where will large funds being swinging to, for better yields?
Is there a possibility that an investor from Japan borrows money from local bank at very low interest rates, invest it in foreign asset classes for profiteering purposes?
What will happen to the desirability of Japanese Yen vs other G7 currencies with higher interest rates e.g. Europe, USA, Canada, Switzerland, Australia & New Zealand?
Technical wise, beautiful consolidation taking place above H1 Imbalance, slowly creating bullish structure. Guess what will likely transpire this/next week?
Having said that, several US high impact news this week and NFP Friday. Its going to get rough and wild.
By Sifu Steve @ XeroAcademy
DAX - Up Up & Away!DAX
We've had European indices out-perform compared to US indices, this would be due to international opportunities increase this has been executing for while a hedge against US, we look at US yields we are 5% roughly now that into consideration of going into US indices the need of making a return is relative high, now compared to the opportunities and growth of Europe! In my previous posts you can see FTSE100 that idea playing out well.
Now I am sharing the DAX chart as I think we could even re-test those highs that has been tested couple times, a break through key resistance where we are currently at the momentum is still on long side and targets would be 16250 areas and look that 1.618 Fib. However, if we break below 15150 areas and break out down side of this beautiful channel then I'd expect 50 EMA areas to be your target areas.
My thoughts overall, we really need pay attention to DXY where that's going to play further, daily close perhaps below of ranges we are at a pull back will occur but we do have NFP and if that is above let's say 220k and is strong number higher expect DXY to rally yields, and we also need to take not only NFP into consideration this week, let's not forget next week we have CPI. Take in all this important US data, and then we need think is market still pricing just 25 basis point hike or will we go 50, currently its pricing 25...Time will tell! I still think housing crises will increase and the automotive industry will face further issues.
Key tip: Don't forget to look at the bigger picture!
Have a great week ahead,
Trade Journal
Key news events for the weekIt might be a big week head for the markets.
Monday
CHF CPI data release. The inflation gauge for the Swiss is expected to be lower than previous, signaling a slowdown in inflation growth. Could result in some weakness in the CHF if markets anticipate no more rate hikes to come from the SNB.
Tuesday
Reserve Bank of Australia (RBA) interest rate decision. Another 25bps rate hike to come? However, the AUDUSD has often traded lower following the release of the news. Could the same thing happen again?
Fed Chair Powell testifies during the US session. This could lead to increased volatility on the DXY, but watch what Powell says! Pivot? Or continue with the rate increases?
Wednesday
Bank of Canada (BoC) is set to hold rates at 4.50%. Unlikely that we'll see a surprise given how recent Canadian CPI has been released lower than previous (signaling a possible reversal in inflation).
Friday
Bank of Japan (BoJ) is set to announce its monetary policy decision. This is Kuroda's last monetary policy meeting as Governor. While a surprise is unlikely, he might lay the foundations for his predecessor. Expect significant volatility on the Japanese Yen.
Since it is the first Friday of the month, look out for the release of the US Non-Farm Employment Change (NFP). The data shouldn't surprise like the previous month, however, some stability in the employment data could see markets reconsider the FOMC's stance on further rate hikes, leading the DXY to trade lower.
Whatever the news, watch out for my daily posts on the specific currency pairs as I update you on possible setups and price levels. Also, tune in to the Daily Live Stream at 3pm (GMT+8)!
XAUUSD SHORT BIAS IDEAHello all!
Once again my projection played out perfectly (last week XAUUSD video analysis).
Now, retracement is playing out, looking at the next Daily Supply Zone (refined to 4H), GOLD is heading towards the zone!
I will look to enter on a CONFIRMATION ENTRY ONLY! I will look for LIQUIDITY to build up just below (Potential outcome), then monitor LTF for a POI to follow the next leg down on GOLD!
In other cases, GOLD may just push up, and mitigate the zone before NFP, and sell hard after NFP release! But, we will see! We can only project the market! :)
Take care!
