COME SUPPORT NICK!
https://www.youtube.com/watch?v=qFfPd_Vawvc&ab_channel=TheTradingBattle

EUR/AUD Analysis
EURAUD established another higher high on the 1D timeframe which could be a bullish sign for the pair. After five consecutive days of losses, price found support on a previous top and shot back to the upside. Risk on sentiment has been stronger in the past week which is accelerating pairs in the forex market. EA might try to 1.57987 where there is another level of resistance.

USD/JPY Analysis
UJ ended up finding support around 145.924 and was able to maintain its price above that level. Friday’s sell off could be a discount opportunity for the pair should risk off sentiment return. If so, we could watch the pair move back up to the highs around 151.970.

SPX500 Analysis
SPX500 had a good day today as it stayed in the green and broke to a higher high with euro. A higher high on the 1D timeframe could suggest further moves towards the 50 DMA which is also near another resistance level. Price action might have suggested that the market did bottom at the lows. Investors might be looking at this level to start building positions for the long term.

Is This The Beginning Of The Next Bull Market?
Using the market heatmap for leveraging your sentiment on forex pairs and market movement can help you find potential trade ideas. If you have been frequently watching the heatmap, you might have noticed a shift in what pairs are blue and red. Notice that the major risk on pairs and indices are now blue again while USD pairs are red. This broad shift could indicate a few things: we are seeing a bear market rally, or we have found a bottom, and this is the beginning of the next bull market. One thing that leads me to believe in a potential bull market is the fact that price has gone kept itself from making lower lows for an extended amount of time which has not been the case all year.

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New Aussie CPI Data Tonight

Tonight at 8:30 pm Eastern Time, the Australian Bureau of Statistics will release new Aussie CPI data tonight, providing two key measurements of inflation. Quarter-over-quarter CPI, as well as quarter-over-quarter ‘Trimmed Mean’ CPI (which excludes the 30% most volatile items), will be made available to the public. CPI is forecast to increase by 1.6% and Trimmed Mean CPI by 1.5%; if the real numbers exceed these expectations, AUD could experience further bullish momentum following a multiyear downtrend. However, if the reports fail to meet market forecasts, AUD may see a continuation of these longform downtrends across pairs. You can check on the results here.

https://a1trading.com/new-aussie-cpi-data-tonight/

USDCAD Analysis
USDCAD comes down to support after CAD announced their new interest rate of 4% which was a 25 bp bump from the current interest rate. Price is showing some mild rejection on this level which could lead to a rebound in the pair's current uptrend. Risk off currencies are not looking very strong right now, but the October rally could be the only thing keeping the bullishness going for risk on pairs

SPX500 Analysis
SPX500 is a little down today in the premarket as price tests the 50 DMA on the 1D timeframe. The tech market slumped today on weaker earnings which might cause another dip in equities, and short traders could see a potential opportunity at this level of resistance. However, if price breaks above, the next level of resistance is around $3889

USOil is forecasted to decrease over the next seven trading days which is still weird to see. Right now, it is the most heavily bought commodity by institutions, but price has been falling. As big money ups their positions on oil contracts, price action is not reflecting any kind of bullishness. Investors speculative on oil might be looking to build positions on this commodity although its trend and seasonality are going against it right now.

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