Macrobriefing

Macrobriefing Updated 

The euro is a piece of crÄp and I have no interest in being long the single currency. So it's nice to see the commodity pairs applying some pressure to it. Unfortunately, this doesn't bode well for having cheaper oil in the near future in mainland Europe.

Macrobriefing Updated 

I don't see the XAUUSD or Gold contracts rising much more. We've retraced the 61.8% and yes, if we get a close above, we could go and test the previous swing high. But currently the price action appears to be stalling at the previous market structure. No trade for me today but I will be looking for a continuation lower tomorrow if these current levels hold.

Macrobriefing Updated 

For me the US dollar sell-off has finished. EURUSD went up to parity ahead of the ECB and now the US dollar bulls are back in control. There isn't a fresh level until we get down to 0.9665, so that's where I am targeting for now!

Macrobriefing Updated 

The EURUSD is attempting to break out of this period of consolidation. The DXY confirms that the direction of travel this morning for the US dollar is higher, so the EURUSD sell signal on the 'Classic Retest' is valid.

Macrobriefing Updated 

This just points to increasing weakness in the euro

Macrobriefing Updated 

Going along with the strength returning to the US dollar, I am expecting to see a rejection soon of the highs in the GBPUSD.

Macrobriefing Updated 

The pound had rallied against the Aussie for a while. But then we went into a large consolidation pattern. This looks to have fake'breaked to the upside and now is making moves lower. We could get a continuation pattern at a break of this morning's lows. The best thing to do would be to overlay a Wyckoff schematic and see if it could be the end of a distribution period.

Macrobriefing Updated 

So, if the pound is weakening or the commodity pairs are generally strengthening, I could see a scenario where the GBOCAD breaks lower today and goes on a short-run lower. Or, price retraces back towards the recent highs, fails and then heads for a bigger swing low.

Macrobriefing Updated 

I don't trade the Head and Shoulders patterns, but I have thrown one up there as it highlights the areas where other retail traders may be waiting for a signal. Obvious one would be the neck line break. I'd want to be short before price got there and then be looking to get out as the momentum sucked in more traders. The other place to look would be above the...

Macrobriefing Updated 

The USDJPY is currently in the big sideways, after its been through the Big up and Big down. EURUSD, is higher, GBPUSD is higher. So US dollar weakness there. Overall JPY is being intervened via the BoJ, so a riskier asset due to more unpredictability. US dollar crashing lower, is a correction currently rather than a new trend. So EURJPY and GBPJPY up for a...

Macrobriefing Updated 

As per the EURUSD trade idea, if the US dollar index continues to correct lower, we should see the major crosses react bullishly against the greenback.

Macrobriefing Updated 

This would require the US dollar to keep dropping, which I am not totally convinced will happen. However, I am following the plan and hopefully, it will let me get to TP1 and Breakeven

Macrobriefing Updated 

Purely technical in analysis and it's essentially the same trade in the Nasdaq and S&P500

Macrobriefing

Looking for a GBP continuation from a box breakout

Macrobriefing Updated 

At the end of last week the Nasdaq, flushed through some stops and had a bearish close. For the bears, they are feeling trapped as there was no follow-through to the downside. In fact the snap back signalled a bullish reversal. Today we have broken higher out of the opening range and the initial balance. We're just waiting for that pop to confirm that today is the...

Macrobriefing Updated 

So I had a new signal to keep going higher. 150.00 is the obvious target but this start is looking for 152.00

Macrobriefing Updated 

This is how every profitable trader that I know, makes money in the markets. Know your Weekly, Daily, High, Low & Closing price levels Know your intraday session opening prices Look for swing highs and lows on your preferred trading timeframe Buy High, Sell Higher Sell Low, Buy Lower Add to your winners If the price turns 180º be prepared for sideways markets...

Macrobriefing Updated 

Looking for a push lower. The break of Structure would signal that this idea is invalidated