I tend to use my Moving Averages to indicate Market Value. It's a great tracker of price, but it's better when used properly. Here's how. Also includes AUDUSD Analysis.
Minor fall in Oil leading to some gains taken. Requiring larger falls for any re-buys. Sentiment sustaining up move due to middle east tensions. Levels of note labelled.
Why do Markets Stall? Because Key Sentiment Drivers Stall. When that happens, you have the opportunity to take various gains and sometimes it is wiser to do so (in high bouts of risk on) as falls (extreme) are less likely.
After NFP we have seen a larger inflow into USD. Weakness persists, would not be shocked if we fall lower.
There has been no real pessimism, or optimism around risk assets like BTC. Trajectory largely unchanged, likely any extreme positive outlook will encourage return to highs. Trade with caution.
Price action points and zones are often misunderstood. You generally are looking for an area, rather than an on the dot price. Here's my take.
AUD VS USD has fallen reasonably sharply with room to go until reasonable early key support. Not interested in longs unless we drip lower, any flash move followed by rebound would be ideal. Risk off likely to pull lower, risk on the opposite and a continuation of AUD strength/ USD weakness.
Buy limit orders set at SZ1 (support zone 1). Reasonable USD strength pre jobs, may continue. If order is triggered then will exit at mentioned levels or earlier depending on Sentiment developments.
Gold has rallied continually and requires caution. Here's why.
NFP Data is coming out the US soon. This may shock markets either way if its heavy, so here are levels to note.
Pound weakness coming in to the London session today sets a good stage for further moves. This comes amid an easing FED. Awaiting key US data but expecting further moves as shown through OCT.
Weakness feeding through various GBP Forex pairs is bringing about some key levels. Any longs, make them light. Further levels lower for key hedges if need be due to extremity of upmove.
Dovish sentiment out of the BOE this AM about aggressive cuts has led to a weaker GBP. Trickling hard, would not be shocked if we see lower levels.
Comments by PM Ishiba in Japan today have caused yen weakness directly. This comes via dovish rhetoric pulling investment out of JPY. Here's my plans for oct.
Chinese outlook is looking more positive after posted stimulus. Rallies are occurring fast and come with significant risk. Do not FOMO in. Do not short a massive amount. Just trade it carefully with light entries, only buy on significant dips. Any shorts come with danger and must be light and spread out.
CAD/JPY has continued momentum to the upside despite fear sentiment coming into markets last night. Key levels persist amongst a tentative BOJ.
Oil has gained momentum on Middle East tensions. This brings rise to various areas of note.
Previous falls on Gold have not been sustained especially post FED last night. Although some members stated cuts would not occur quickly, or as quickly as expected, overall confidence in the US economy and stability has persisted to rise long side impetus and confidence. Green data out of china also feeds this. Would not be surprised if previous highs reached....