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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.
TVC:DXYLong
by OlympusLab
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.
Short
by OlympusLab
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
Short
by Jon_Jones_Junior
DXY up for now. Powell says so…Headlines today: Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated. DXY was at a solid resistance cooled off for a bit under it, and it just broke that resistance to the upside. If interest rates need to continue to be raised we would expect more upside in the DXY. Rate hikes continue as expected -> DXY will follow traditional technical analysis as expected. I used the measure rule to calculate possible target for descending channel upward breakout. It aligns perfectly with a diagonal supply line going back months. Would be poetic to see PA reject at the diagonal and horizontal resistances, which exactly align with the measured move from the descending channel. (see the vertical white line, the width of the channel)
TVC:DXYLong
by kurtkemo
1
WTI-Oil 5TH MARIs Sunday again with starting our analysis off with WTI oil. For us it's a pretty simple setup this week. We're looking for a play off of the supply at the high of our swing, we're looking for price to drop down lower towards the 15 minute demand that we have highlighted below. Now of course, if we don't get a reaction at this supply. We will look for price to travel back down to buy up into the triple top we have on the daily time frame. Make sure that you always use your confirmations to get into a trade and always be flexible with your analysis. Remember, sticking to your trading plan and consistently entering the same setups will bring you profitability. If you like this idea, drop us a boost and a comment down below. We hope you all have a profitable and successful trading week.
OANDA:WTICOUSD
by PipSurfingSociety
EURUSD Potential Forecast | 3rd March 2023Fundamental Backdrop 1. US Unemployment Claims were better than previous from 192k to 190k. 2. Unemployment dropped which showed that the the labor-market is improving . 3. Still alot of mixed sentiments in the market due to the mixed results of US data releases. 4. All eyes will be on NFP next week to see if the strong result will continue. Technical Confluences 1. Price is currently respecting the H1 area of support at 1.0576. 2. Will be looking for price to undergo a retracement to the H1 resistance at 1.0634. Idea Expecting price to continue heading down after tapping into the H1 level of resistance. 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.
Short
by OlympusLab
2
DXY Potential Forecast | 1st March 2023Fundamental Backdrop 1. US economy has proven very resilient in the market. 2. Recent bearish movements stemmed from the drop in consumer confidence and the durable goods printing negative m/m due to Boeing. 3. However, market sentiments revolving around the USD remains bullish amid the stronger than expected economy. Technical Confluences 1. Price has tapped onto the daily resistance level and has rejected from it. 2. This could be seen as a retracement from the strong bullish movement on the DXY to continue heading higher. 3. Price looks to be able to test the H4 support level at 104.6 before bullish movement continues. 4. Price is resting well above the ichimoku cloud, signifying strong bullish momentum on the DXY. Idea I will be looking for price to continue its bullish trend on the DXY and for a new high to be created.
TVC:DXYLong
by OlympusLab
NZDUSD Potential Forecast | 1st March 2023Fundamental Backdrop 1. RBNZ raised the official cash rate (OCR) by 50 bps to 4.75%. Technical Confluences 1. Price is on a bearish trend on the daily timeframe, forming lower lows and highs. 2. Price has broken the daily support level and is currently retracing back to the support turned resistance. 3. On the daily timeframe, it seems that price is retracing back to the neckline of the double top formation. 4. Anticipating double top formation to be completed and for price to continue heading bearish. Idea I will be looking for price to continue its bearish trend and looking for short entries onto NZDUSD. 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.
Short
by OlympusLab
AUDUSD Potential Forecast | 1st March 2023Fundamental Backdrop 1. USD more hawkish than AUD, with a potentially higher terminal rate. 2. US economy continues to be very resilient, taking the USD by strength. Technical Confluences 1. The overall bias for AUDUSD on the H4 chart is bearish. 2. Price is on a bearish trend, forming lower lows and lower highs. 3. Price could potentially retrace to the H4 resistance level at 0.678. 4. Anticipating price to retest the weekly support level at 0.662. 5. Price has already broken multiple structures to the downside. 6. Price is resting below the ichimoku cloud, signifying bearish intent. Idea I will be looking for price to continue its bearish trend and for price to tap into the weekly support level at 0.662 before price could potentially head bullish. 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.
Short
by OlympusLab
GBPUSD Potential Forecast | 1st March 2023Fundamental Backdrop 1. Inflation for the GBP continues to be very high. 2. Pessimistic outlook on the economy for GBP as upcoming GDP m/m is widely forecasted to be printed negative, showing the recessionary phase the economy is in. Technical Confluences 1. The overall bias for GBPUSD is bearish and price can retest the daily support level at 1.186. 2. Price has been on a bearish trend for GBPUSD and is forming lower lows and lower highs as seen by the red highlights signifying the highs and lows. 3. Price rejected off the H4 resistance level at 1.213 and has seen continued bearish. Idea I will be looking for price to possibly retest the support at 1.186. 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.
Short
by OlympusLab
EURUSD Potential Forecast | 1st March 2023Fundamental Backdrop 1. FX market has been very data driven. 2. Consumer confidence declined again in February, printing 102.9 compared to a forecast 108.5. 3. Along with the durable goods order printing -4.5% m/m compared to forecast, this resulted in heavy bullish momentum coming in on the EURUSD. 4. However, due to the strong economic resilience of the US, with retail sales previously printing very positively, and inflation remaining heightened, USD has further upside potential and EURUSD can continue heading down. Technical Confluences 1. The overall bias for EURUSD is strong bearish and price can potentially create a new higher timeframe beyond 1.05327. 2. Price is on a retracement and have since partially corrected half of the bullish movement from Monday to Tuesday. 3. Price is still on a bearish trend, forming lower lows and lower highs. 4. Price has tested the resistance level at 1.0633 and bearish continuations ensued. Idea I will be looking for price to possibly retest the resistance at 1.0595 before bearish movement continues and for price to potentially form a new low at 1.05327. 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.
Short
by OlympusLab
USOIL Potential Forecast | 1st March 2023Fundamental Backdrop 1. Optimistic reports of manufacturing expansion in China, which is recognized as the largest crude oil importer globally causing a better outlook for the demand. 2. Data showing China's factory activity rose for the first time in seven months in February 3. Output is still down more than 700,000 bpd from September with a high demand still in place Technical Confluences 1. The overall bias for USOIL on the H4 chart is bullish. 2. To add confluence to our bias, price is above the Ichimoku cloud and looks to be breaking the descending trend-line. 2. Expecting price to possibly head towards the resistance at the 79.00 level. Idea I will be looking for price to break above the resistance at 77.8 and the descending trend line before continuing bullish towards the resistance at the 79.00 level. 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.
TVC:USOILLong
by OlympusLab
2
easyMarkets AUDUSD Daily - Quick Technical OverviewAUDUSD seems to be forming a possible falling wedge pattern, which, according to all the TA rules, tends to break to the upside. However, a confirmation break through the upper side of it is still needed, in order to get comfortable with a move towards higher areas. Until then, if the pair stays inside the pattern, it may continue sliding. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
by easyMarkets
US-Oil/WTI 19th FEB What's up guys! Another breakdown here, this time for US oil market. As you can see from this breakdown, we have a clear area of demand that price is rejecting away from. Based on this and where we stand in overall structure, I am expecting bullish movements to take us into the area of supply highlighted above. From that point, I am going to watch to see if the price is either going to hold there or breakthrough to continue higher. Overall, I will be looking for longs into the supply in shorts away from the supply, but of course, we do not know fully if this area of demand below will hold. So I'll be looking for a short-term entry to go long. If we break the supply above and continue higher, I'll be targeting the triple top highlighted in green. Worst case, we don't break through the area of supply and we continue going short, in that case, I'll start aiming for the low which is highlighted in red. Another pretty simple breakdown. Overall, I'm looking forward to trading this pair this week as it shows lots of potential. Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think. As always guys trade safe, stick to your trading plan. I hope you all have an amazing trading week.
OANDA:WTICOUSD
by PipSurfingSociety
US30 Short-Term Bullish AnalysisClick on Boost (like) to support these free analyses This expectation is a framework to look for a potential trading setup; I recommend you to not just execute based on these levels. I always wait for confirmations on lower timeframes This Analysis was done using my complete Strategy which includes: - Smart Money Concepts - Multi Timeframe Liquidity and Market Structure - Supply And Demand - Auction Theory - Volume Analysis - Footprint - Market Profile - Volume Profile - Wyckoff - Etc.
CBOT_MINI:YM1!Long
by SmartMoneySource
usoil long 4h When trading crude oil using technical analysis, it is important to consider the following key factors: Chart patterns: Understanding common chart patterns, such as head and shoulders, triangles, and trend lines, can help traders identify potential buying or selling opportunities in the market. Technical indicators: Technical indicators, such as moving averages, Bollinger Bands, and the Relative Strength Index (RSI), can provide valuable information about market trends and help traders determine the strength of a trend. Supply and demand: Traders should also consider supply and demand dynamics, such as changes in production levels, global economic conditions, and geopolitical events, which can greatly impact the price of crude oil. Volatility: The crude oil market is known for its high volatility, and traders should be prepared for significant price movements. It is important to have a risk management strategy in place to limit potential losses. Diversification: As with any investment, it is important to diversify one's portfolio to minimize risk. Crude oil should be just one component of a well-diversified investment portfolio. Keep updated: Staying informed about market news and developments, such as changes in production levels, geopolitical events, and economic indicators, can help traders make informed investment decisions. Patience and discipline: Successful trading in the crude oil market requires patience and discipline. Traders should not make hasty decisions based on emotions, and instead follow a well-thought-out trading plan. In conclusion, technical analysis can provide valuable insights into the crude oil market, but it should be used in conjunction with other forms of analysis and a well-diversified investment portfolio. As with any investment, there are risks involved and traders should always approach the market with caution.
NYMEX:CL1!Long
by teststrategytrading