NAS100 is very bullish on the EdgeFinder. Ranked at a +7, the index continues to push off the lows from last week. Yesterday's Fed decision and statement caused a slew of volatility of uncertain investors. Today, it seems that the smoke has cleared on some of the confusion in terms of monetary policy.

Today's healthier economic numbers suggested the bullish sentiment today. Good numbers paired with a potential Fed pause next meeting are a good sign for the bulls who are anticipating the end of rate hikes. NAS is bullish in all categories but interest rates, which takes into account the restrictive territory US is currently in.

EURUSD takes a considerable pullback on the 1D timeframe on recent interest rate news from both USD and EUR. Investors now have to consider which asset is going to be stronger long term. There are a few things to consider: inflation levels and forecasts. The ECB is battling some stubborn inflation, reluctant to dip amid each hike. Meanwhile, CPI and Core CPI are complying in the US.

The Fed is also expected to cut in the back half of 2024, whereas ECB is not expected to cut at any point next year. Price is moving down towards a healthy support zone around 1.101 which is also around a month-long trend line.

BOUGHT SPX500 UPDATE (Frank entered 2 days ago)
📈 Bought at: 4561.12 (Floating +431.70 pips 🔥)
🚫 Stop: 4584.82 (Trailed: +237.00 pips above entry)
🎯 Target: N/A

Want to receive live trade signals?
Join the VIP discord for 10% off with code TGVIP https://a1trading.com/a1trading/

Have questions? Chat with us here: https://tawk.to/chat/62e5d26254f06e12d88c1ec2/1g98rrk80

Gold is a weaker bullish score on the EF but is still in the bullish range. Commodities sold off hard this morning which likely has to do with the good economic numbers from the US. Higher Advanced GDP and lower jobless claims are good for economic health, something gold is weak to.

Although it is a tough environment right now for the metal, expectations are arguably more important. This bearish aftermath in price action could be another setup for the bulls. The question is when to consider the entry.

Yesterday's FOMC move LIVE on YouTube with Chris Pulver!

Retail is short the most bullish assets and long the most bearish. US30 being the best performer, SPX500 and US30 follow behind. Commodities are also heavily shorted by the crowd. USD pairs look mixed.

Smart Money tells us a different story. For commodities, they seem to be piling up on the long side while heavily getting rid of their short positions. The bottom chart shows gold on a positional bias. Just from a glance we can tell that the net long-to-short positions have drastically changed from neutral to heavy bullish.

BOUGHT XAUUSD UPDATE (Entered 1 days ago)
📈 Bought at: 1945.98 (Floating +1417.00 pips 🔥)
🚫 Stop: 1947 (Trailed: +102.00 pips above entry)
🎯 Target: N/A

- Frank

BOUGHT EURUSD UPDATE (Entered a few hours ago)
📈 Bought at: 1.0994 (Floating +49.20 pips 🔥)
🚫 Stop: 1.09971 (Trailed: +3.10 pips above entry)
🎯 Target: N/A

- Frank

Good morning traders! The USD is looking a bit to heavy in my opinion, and may see some downside this week. Despite the impressive rally on strong economicfigures out of the US, i think the dollar will weaken as the fed continues to loosen its monetary policy outlook.

EURUSD, 4H chart. Price is currently at resistance, but if we see further bullishness i have a second key zone drawn.

ECB became more relaxed on monetary policy last week, leading to EUR weakness

#COT data looks very interesting this week. The top chart shows overall positioning, while the bottom table shows the latest change week to week. Gold was sold pretty heavily last week, while large speculators offloaded their shorts on SP500...

$gold still looking bearish this morning. I am bullish longer term, but i think we have more downside in the meantime.

CHF/JPY Analysis
After the BOJ’s 180 degree turn on policy, the yen sunk back down lower as CHFJPY took off. Investors were afraid of a potential rate hike from the BOJ after they mentioned bringing rates over 0.5%. However, Ueda then almost back tracked in the policy statement when he said economic expansion was more important. This caused a major spike in JPY before it turned back towards the highs. This pair may look to take another leg higher towards a previous top around 163.850s. The difference in these two central banks suggest hawkishness from the SNB versus a more lenient BOJ with ultra-loose policy. The pair seems to have bullishness in its favor as it harshly rejects the lows from Thursday night’s Asian session.

📕 UNEMPLOYMENT CLAIMS 101

What are unemployment claims?
• Unemployment claims tell us what is fundamentally going on in our economy

• Every Thursday, the ForexFactory website releases US’s unemployment claims for the week.

How to trade unemployment claims:
• If the number of jobless claims are less than expected, that’s a sign of a growing economy, and if not, then it’s a sign that the economy and its fiat could be in trouble.

📊Unemployent data summarized on the EdgeFinder. Users get access to the latest unemployment data in an easy to read format.

🟡 10% OFF CODE: TGVIP
https://a1trading.com/edgefinder

😱  REVEALED: Nick's Trading Strategy

Want to know exactly what goes into Nick's winning strategy? Download the True Trend Following Strategy in the VIP community! In this strategy, Nick will reveal:

📖What/When he trades
📖Criteria he follows When Looking for Setups
📖How he ENTERS trades
📖How he EXITS trades
📖His Risk Management Approach
📖How he Manages his Trading Psychology

🔴 10% off ALL Memberships code: TGVIP

Join now: https://a1trading.com/vip/

My favorite setup on the currencies side right now... EURAUD looks solid.

Edgefinder also has it as a strong buy recently! Several fundamental/sentiment factors showing confluence.