Indices and Yen Crosses are HOT Right Now, But are There Trade Opportunities? (FOREX FORECAST)
https://youtu.be/88hDUSe485Q
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Indices and Yen Crosses are HOT Right Now, But are There Trade Opportunities? (FOREX FORECAST)
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Gold sits at a strong buy on the EdgeFinder. At +6, the metal has been undergoing a larger pullback on the longer timeframes. COT showed a large increase in bullish sentiment for commodities while indices remain on the back burner for now.
Investors are not certain of market sentiment going into this week as the Fed decision approaches. Although higher rates are not good for assets such as gold, investors could be anticipating the last of what was an aggressive monetary policy cycle.
Investors are not certain of market sentiment going into this week as the Fed decision approaches. Although higher rates are not good for assets such as gold, investors could be anticipating the last of what was an aggressive monetary policy cycle.
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It still looks like there is more room to drop to the downside for the NAS100 index. COT is not confident in stocks this week as we saw an aggressive shift to bearish sentiment around these assets. Thus, this week could be in the red until rate fears and earnings news subsides.
Price could come down further to support around $15,200-15,300s where there is a rising trend line coupled with a double top on the 4H timeframe. The overall trend remains to the upside which is promising to investors. The index will have to test that level and show confirmation to the upside in order to look convincing enough to move higher.
Price could come down further to support around $15,200-15,300s where there is a rising trend line coupled with a double top on the 4H timeframe. The overall trend remains to the upside which is promising to investors. The index will have to test that level and show confirmation to the upside in order to look convincing enough to move higher.
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Iβll leave this here. π
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USOil is only at a neutral rating on the EdgeFinder, so it may seem confusing as to why it's being talked about. The historical backtest feature is good at recognizing trends as the score shifts. Although a high score is bullish for the pair, it's also important to watch for shifts in sentiment.
In this case, oil was ranked at a -7 strong sell in May. Since then, it had become less bearish on the commodity over time. Now the EF is leaning slight bullishness/neutral for the month of July. Economists are expecting a rise in demand from a rebounding Chinese economy and shorter supply around the world.
In this case, oil was ranked at a -7 strong sell in May. Since then, it had become less bearish on the commodity over time. Now the EF is leaning slight bullishness/neutral for the month of July. Economists are expecting a rise in demand from a rebounding Chinese economy and shorter supply around the world.
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EUR/USD Analysis
EU falls for the eighth straight day amid this weekβs meetings with the ECB and Fed. Both central banks are expected to raise rates by another 25 basis points, however, the hawkishness between these two are different. The US may be less aggressive after tomorrowβs expected hike, while Europe still battles a more stubborn inflation. If price comes down to test the 1.1s coupled with that rising trend line, it could be a decent setup to the long side.
EU falls for the eighth straight day amid this weekβs meetings with the ECB and Fed. Both central banks are expected to raise rates by another 25 basis points, however, the hawkishness between these two are different. The US may be less aggressive after tomorrowβs expected hike, while Europe still battles a more stubborn inflation. If price comes down to test the 1.1s coupled with that rising trend line, it could be a decent setup to the long side.
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SPX500 Analysis
US indices rebound today after a tough couple days of concern from the Fed. There is almost a 100% expectation that the US will see a hike tomorrow, yet the markets are reacting oppositely. Earnings season continues to show stronger numbers overall while consumer sentiment rose in todayβs report. Price looks stronger on the 1D timeframe as the index may want to come back up to the previous high of $4,583.
US indices rebound today after a tough couple days of concern from the Fed. There is almost a 100% expectation that the US will see a hike tomorrow, yet the markets are reacting oppositely. Earnings season continues to show stronger numbers overall while consumer sentiment rose in todayβs report. Price looks stronger on the 1D timeframe as the index may want to come back up to the previous high of $4,583.
π₯NAS signal making a nice move today!
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USOil Analysis
Something to look out for is this commodity. The bulls have stepped in hard on commodities, oil included. Smart money showed a robust increase in the number of long contracts overall as price shifts out of a downtrend. Price broke out of a falling trend line yesterday, and it is now working its way higher. Price could come down to support just below or a test at 83.40.
Something to look out for is this commodity. The bulls have stepped in hard on commodities, oil included. Smart money showed a robust increase in the number of long contracts overall as price shifts out of a downtrend. Price broke out of a falling trend line yesterday, and it is now working its way higher. Price could come down to support just below or a test at 83.40.
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Trailed out yesterday on NAS100 for a profit. Watching today to see if I can pick it up again - Nick
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Gold Analysis
A key question from investors is when has the Fed done enough. Today, the US central bank will almost certainly hike interest rates by another 25 points. This move will set us to the highest rates in 22 years. Anticipation of the impending statement looms, and investors are not sure what to anticipate. Although inflation is in compliance, the Fed may be looking to other factors for extra assurance, for instance, in the labor market. This next while will continue to restrict spending, and hopefully suggest end the aggressive policy. Gold is still in an uptrend, but mixed for the day in the hours leading up to the meeting. Price has support around mid-$1950s and $1930. Resistance sits at $1980.
A key question from investors is when has the Fed done enough. Today, the US central bank will almost certainly hike interest rates by another 25 points. This move will set us to the highest rates in 22 years. Anticipation of the impending statement looms, and investors are not sure what to anticipate. Although inflation is in compliance, the Fed may be looking to other factors for extra assurance, for instance, in the labor market. This next while will continue to restrict spending, and hopefully suggest end the aggressive policy. Gold is still in an uptrend, but mixed for the day in the hours leading up to the meeting. Price has support around mid-$1950s and $1930. Resistance sits at $1980.
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