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Interestratehike

EURUSD: My FED Day OutlookAs many of you know today is FED day as the FOMC has its Interest rate Decision & Statement coming out today at 2pm (New York). The expectation is that there will be no changes made at this particular time so most of the “volatility” and “reaction” will be based off of the tone of the statement as trader hunt for any clues of when the rate hike may occur. This is one of those fundamental events that I stay away from as we can potentially see some massive moves and larger spreads during those moves. Ever been stopped out of a position without your stops actually being hit? Yup! Although I won’t be trading during it, I still like to perform my technical analysis and see if I can predict where price action may shoot too after all of the madness is said and done. After all I firmly believe that the technicals tell you where the market will go and the fundamentals just help push it there faster. To the bearish side I have a potential Gartley pattern on the daily along with a level of previous structure support which could prove to be a good holding area. While to the bullish side I’m still eying up the intermediate level of resistance that we were looking at in yesterday’s trading session. (Here’s the video in case you missed it www.youtube.com There’s more resistance to the upside but its way too far to be attacked today as it’s over 400pips away….but hey you never know, that’s why I don’t try and predict these things. Akil Stokes Chief Currency Analyst at Trade Empowered Click here for 20+ hours of FREE Training tradeempowered.com Click the link below to subscribe for more FOREX TRADING videos www.youtube.com Facebook: www.facebook.com Twitter: twitter.com
by Akil_Stokes
4
India Could Be the Most Resilient of the BRICSThe BRICS (Brazil, Russia, India, China and South Africa) are highly watched emerging markets because they represented roughly 22 percent of global GDP in 2014. However, the global economic slowdown and increased geopolitical tension has weighed heavy on these markets. Although, India may be the most resilient economy out of the BRICS. India has felt its share of the slower economic climate, as the Markit manufacturing PMI fell to a seven-month low in September, falling to 51.2 from 52.3. According to Markit, there are signs of sustainable growth but input costs decreased for two months consecutively, which has not happen since the financial crisis. Both manufacturing and industrial output have remained stable. Services PMI has seen improvement since late 2014. In relation, the Chinese manufacturing PMI clocked in at 47.2 and has been contracting since March while near the worst levels since March 2009. Due to the slack in the economy and less than expected inflation, the Reserve Bank of India cut the benchmark rate by 50 bps to 6.75 percent. This strengthened the rupee has investors look for it to hinder capital outflow. It also comes as the People's Bank of China (PBoC) devalues the yuan. USDINR is likely to fall further as I expect the dollar to remain weak following the onslaught of poor economic data. Friday's non-farm payroll print of 146,000 was well below the 201,000 general consensus. To add insult to injury, August's jobs number was revised lower by 50,000 which left mouthpiece economists in bewilderment. The Fed's inability to act, in regards to an interest rate boost, will leave the dollar on shaky ground. Fed fund futures traders are not pricing in a potential for Fed action until June/July of 2016 - although, I am forecasting a recession by then. The USDINR is trending within a descending channel with support at 65.28, but the pair will travel to the 50 percent Fib. retracement at 65.15 (with the 72-daily EMA as further support). Secondary target is 64.83. Resistance can be found at 65.6060, 65.8337 and 66.1374 Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
by CommoditiesTrader
After Squeezing, AUDUSD Get's PoundedCommodity currencies (AUD, NZD, CAD) underwent a short-squeeze following the Federal Reserve's decision to leave rates from zero-to-25 bps, which is theoretically more supportive for commodity speculation. However, after market participants digested the ultra-dovish FOMC, commodity currencies got monkey-hammered lower. AUDUSD was pushed higher to .7276 on Friday, following the pin bar created on Thursday's volatile price action. Essentially creating a triple-top. This level has acted a strong resistance. After being rejected, price action is at a support crossroads. The pair close on price action support of .7180 and could look to challenge a minor uptrend support trend line, dating back to September 10. A close below this level will open up a longer, intraday descending trend line, and further support could be tested at ,7137 and .7096. Momentum is likely fading. The RSI sharply contracted, while the ADX looks to be rolling over. Further price action weakness could, eventually, lead into a +/- DMI bearish convergence. However, if support holds, the pair may retest .7180 as it grinds along the uptrend. A break above .7180 could cause the pair to explode and test .7233 and .7273. Even though the US dollar pulled back last week, there is still the perception that the Fed will hike this year. This will keep the dollar somewhat supported, while global growth concerns - including China, Australia and NZ - will weigh on AUDUSD. I would encourage everyone to check out www.teachingcurrencytrading.com - thank you! Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
by CommoditiesTrader
2
Inverse Head & ShouldersSterling has been on a monster tear after mixed employment data out of the United Kingdom. Averages earnings beat expectations of 2.6 percent, printing a 2.9 percent. However, the U.K. did see a rise in unemployment even as the unemployment rate fell a tenth-percent. Traders are looking to front from any potential talk out of the Bank of England (BoE) that could hint at a potential rate hike. BoE Governor Mark Carney still pressed that a decision to address interest rates would not be made until the end of the year, likely to figure out how financial markets react to an anticipated hike from the Federal Reserve. The yen saw pressure, along with the dollar, as risk assets continued their second day of rallying into tomorrow's FOMC minutes meeting and pressure conference (which tends to be the case). Without a doubt, their will be a good deal of volatility, and it will largely coincide with what Fed Chair Janet Yellen foresees in the near future in regards to the U.S. economy and the potential trajectory of interest rates. As seen in the early '90s, the Fed could raise rates (although, I doubt they would) and the dollar could actually decline. Depending on how the yen reacts, GBPJPY could potentially break out of an inverse head and shoulders pattern. Price action have jumped up to the neckline on the 4H chart, but there are a few key things to consider: 1. It is always prudent to wait for a close above the neckline, as a false breakout will suck in traders. 2. The neckline also lines up with a well-established supply zone on the intraday charts. If price action meanders too long in the supply zone (blue rectangle), momentum could wane causing the pair to retreat. Conversely, if GBPJPY can close above 187.65 then the pair could attempt 188.55 and 189. If not, a retrace to 186 could be warranted. Side note: considering that the VIX is currently trading within a descending wedge (bullish reversal), it possible that heightened volatility will strengthen the yen. Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
by CommoditiesTrader
6
U.S. Dollar Awaits FOMC DecisionSome say this week's FOMC decision will be of historical proportions and be the first time the Federal Reserve will increase the Fed funds rate in almost a decade. The U.S. dollar index is in a descending trend. Price action is floating above the minor trend created by the top on April 13. The dollar has not been able to see any significant support higher, likely due to the uncertainty about the Fed's policy. The economy is clearly slowing down, and the Fed has never hiked rates into a slowing economy. Furthermore, financial conditions are already tightening in the wake of a potential boost - if we can call it that -in interested rates. According to Goldman Sachs' financial conditions index, which incorporates equity prices, exchange rates, credit spreads and a slew of other factors, hit the highest level in five years. In regards to what is already occurring with a stronger dollar, increase in borrowing costs and declining asset prices, the market is already undergoing what feels like a 75 bps increase; a 25 bps hike from the Fed would only add insult to injury. Technically, rallies in the dollar have been sold. Price action did see significant pressure in late August and broke key technical support. There was support near 92.50, but the mere close below signals the potential for further weakness. If the Fed remains dovish this weak, and the FOMC minutes continue to be vague and confusing, the dollar could very well retest this year's lows. Momentum on the longer-dated charts are suggesting that upward movement is challenged, and the trend could be changing. Of course, if the Fed did come out and increased rates, the dollar would significantly strengthen. The idea that the Fed would allow that is flaw because they are begging for any sign of inflation in a deflationary world. Multinational corporations have been greatly hurt with the dollar rising against nearly all currencies, and emerging market currencies collapsing. A $3 trillion debt crisis could also occur if the Fed embarks on a path towards monetary tightening. The idea that the Fed can just tighten once and be done with it is foolish. That's not monetary normalcy, and the Fed would only prolong the inevitable. Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
INDEX:DXY
by CommoditiesTrader
The Case for USA Electric Utilities, even with Rising USA RatesRunning Alpha Capital Markets observes that higher rates are not always a headwind, as the not too distant record shows that the electric utilities group can outperform and offer a margin of safety. During the last period of higher rates, from mid 2004 to mid-2006, the FOMC hiked rates 16 times, and despite these incremental actions, electric utilities actually outperformed the broad USA equity market indices by a fairly wide margin. The electrics don't start to significantly under-perform until the Fed funds rate passes the yield of the average electric utility stock; and we will be no where near there even after a number of measured hikes. Absolute returns on electric utilities are likely to stay rich, regardless of what interest rates do over the next market cycle. Looking at the average electric utility investor, who are the buy and hold type of market actor, we still have good electric utility yields out there relative to what the Treasuries offer, and on top of that, the electric utilities have attractive balance sheets with good dividend growth and compelling absolute total returns.
NYSE:EDLong
by RunningAlpha1
USDJPY To Grind Higher on Interest Rate HopesThe dollar-yen has been rather range bound, floating between 123 and 125. The U.S. dollar is likely to remain firm heading into September, as many market participants believe the Federal Reserve will finally raise the Fed funds rate for the first time since 2006. Many traders are looking at the fact that funds rate future traders are pricing in a 54 percent chance a rate hike will occur, which has dropped four percent since the non-farm payrolls were released. Here is something that suggests that does not mean anything. In 2009, Fed funds traders forecasted a 58 percent chance the Fed would hike rates in Q1 of 2010. That’s how long this Game of Bankers have been playing out. Like Monopoly, the game transcends time until players begin to loose all their money. The hope that the Fed begins to tighten policy will override the fact that Bank of Japan (BoJ) Governor Haruhiko Kuroda said that there is no need for additional monetary easing because he believes inflation will reach the central bank’s two percent target in 2016 – a target that has remained elusive for all easing central banks. Although it is not doubted that Kuroda actually believes a steady two-percent can be achieved, the BoJ has underwritten Japan’s massive deficit spending program and has induced severe financial repression. Despite the QE program that trumps the Fed’s, Japan’s economy remains weak and fragile. The USDJPY is approaching 125, a mark that has not been overtaken since June 5. A close about these key level should get momentum traders to flood the pair, as it did last time to push it just shy of 126. Resistance could be found at 125.38. The pair does have to close over both 125.05 price resistance and the intraday descending trend created at 125.85. If the pair is unable to do so near-term, USDJPY could trend lower to support at 124.40 and 124.15. If traders begin to think the Fed will not tighten in September, the dollar should pullback slightly. The the hope would then be pushed back to December. If dollar will remain supported in terms of the rate hike potential by the Federal Reserve, as well as the disinflationary pressure the dollar is causing by strengthening. Mark Carney, the Bank of England (BoE) Governor who had been recently hawkish, shied away from previous rhetoric on hiking rates citing the strong FX pressures and low inflation. Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com Low cost trading solutions: www.fiverr.com
by CommoditiesTrader
1
BAC looks bullish & could b/o of recent consolidation to 20 lvl.Looks bullish here as it has been in a consolidation range ever since 1/14' and has for the most part been btw 15-18 zone. Financials have come back stronger this year and with interest rates set to be raised soon which could lead to better earnings from banks......financials are set to continue to be strong. For BAC.....it has been stuck below 18 lvls. ever since 09' bottom lows & 18 is a major resistence lvl. for it to close above and hold for a few weeks.......if it breaks 18 w/ volume & holds above it then it will have b/o to the upside of the consolidation range & continue the bullish trend w/ tgt.#1=21.50 & tgt.#2=24......as always watch volume for confirmation.
NYSE:BACLong
by djflowmaster
1
Chart of The Day: DXY (7/27/15)The U.S. dollar index is sharply down, following a horrendous day for Chinese equities that did not spark any "safe haven" buying. The 8.48 percent drop in the Shanghai composite was the second worst day ever for the composite since 2007. Traders feared that the Chinese government and the People's Bank of China (PBoC) would pull any assistance to help keep their fragile stock market afloat, just as the Federal Reserve is presumably going to tighten monetary policy somewhere between a year ago and who-knows-when . The euro spiked higher on a combination of a weaker dollar and German Ifo business climate gauge snapping a series of declines. The dollar's losses are keeping steady after another disappointing durable goods print. Although beating economist expectations this month (initially), the last five months of data have been revised lower. Last month's .5 percent increase was reduced to zero. Price action, on the daily chart, is skipping along support at 96.50/55. The DXY has been unable to gain any significant momentum, following a rather poor corporate earnings report all of last week. The DXY is at a crossroads, finding itself breaking the current wave's ascending support but holding onto a minor descending support trend line. A close above these two minor support levels could send the dollar to 95.85 and, potentially, 95.30. However, if support holds, the dollar can retest 97.25 before attempting to challenge the major descending trend line near 98.15. It is important to note that trend strength is dropping with the ADX slopping over. The DMI indicator is suggesting that a bearish DMI convergence is in the works, as negative price action could take over. Expect price action to continue to chop until either major support or resistance is broken, which will have strong implications in terms of direction.
INDEX:DXY
by CommoditiesTrader
Gold Trades Lower on Hopium, Dollar Gains One PercentGo long on "optimism" Traders are more “optimistic” in that everything will work out – from rate hikes to Greece – and risk continues to bid higher on the news, or no news as it were. Greece is said to be saved after Prime Minister Alexis Tsipras gave into the troika and EU on a bailout extension. The game theorists got.. played? However, the International Monetary Fund managing director, Christine Lagarde, said there was still a lot of work to be done. Perhaps the greatest feat is to propose the bailout extension to Greek lawmakers, which many believe will shoot it down (i.e. progress towards no progress). Blowhards out of the Fed continue to spew rate hike rhetoric as if they have a shred of credibility anymore. How many years has the Federal Reserve boasted about a strengthening economy and the path towards monetary normalcy? It can be described – at worst – as verbal diarrhea. Today, Fed Governor Jerome Powell said not only will there be one rate hike but there will be two! Keep in mind, myself and my colleagues have been voicing the Fed’s inability to raise rates for a very long time. We were front-runners, as it were, long before mainstream analysts and economists began to jump on the no hike bandwagon. Nevertheless, in volume-less markets, hopium went bid pushing the dollar up over one percent on the day right as the Fed Governor said there was stability in the dollar. The real gem came when Powell said there were no asset bubbles, but that is expected. The Fed had absolutely no clue the Great Recession was about to grip the world. Even several months into the recession, Ben “there’s no housing bubble” Bernanke thought the growth trajectory would continue upwards. If the market would juxtapose Powell’s comments with Fed Chair Yellen’s post-FOMC comments, there would be a crystal clear imagine of confusion. Yellen bluntly stated that both economic and inflationary data DID NOT meet requirements for a rate hike and that further improvement would be needed. After trading slightly above $1,200 per toz., gold has retracted quite quickly, currently trading at $1,177.90. Technically, price action could find support within these levels, but that largely depends on the dollar’s performance and rather or not the optimistic perception continues to go bid. Gold remains in the large trading range and has no real direction. If prices continue to breakdown, expect the yellow metal to seek out trend support at $1,168 with deeper support at $1,152. Upside potential could be capped at $1,188/92 before a retest of $1,200 can happen. Feel free to contact me or check out my work: Twitter: lemieux_26 Bullion.Directory: bullion.directory
FX:XAUUSD
by CommoditiesTrader
5
Gold Continues in Falling Wedge with Fib. SupportGold is hated but most because it is the antithesis of greed, which has been feed for years by central banks around the world. I'll be frank, I was rather bearish on the shiny metal an forecasted $1,035 per toz. in 2013. However, as the charade of lackluster growth and quasi-monetary policy continued, gold's fundamentals are bullish. It is too simplistic to relate gold to the dollar (in terms of performance) or inflation. At its root, gold is the ultimate currency hedge; and if you have your money on the Fed to come out of this unscathed.. well, they will - you might not be so lucky. Price action has been range bound forever it seems (please check out previous ideas), but given the onslaught of hopes and dreams of a global economic recovery, gold has been supported thus far. A falling wedge is a bullish reversal pattern, and it could be worth watching as the Fed (and most recently the BoJ) talk down the dollar. The volatility in the dollar is alarming on its own. Price action has been supported by a large demand zone that has been evidence since late 2009. Clearly, a close below that is very bearish, and sub-$1,000 could be possible but it might not be probable in current conditions. Gold will need a catalyst, and the lack of credibility in the Fed will be key. If June and September come and go without a rate hike, gold could easily find comfort above $1,300 per toz. To assume the Fed will rise interest rates on a single positive data-point (non-farm payrolls) is myopic. There are no trends in inflation or growth. Keep in mind, the US was in the Great Recession for seven months before the Fed acknowledged it, as it was still projecting growth. Technically, there is support until otherwise broken.
FX:XAUUSDLong
by CommoditiesTrader
8
Dollar On Shaky GroundDollar bulls may be few and far between, as a potential rate hike has now become a "buy the anticipation, sell the rumor" play. Even the most hardcore bulls like Marc Chandler has taken a step back to rethink the dollar. After making a series of lower highs and lower lows, the dollar could very well test the lows near 93; while a series of resistance levels could snag any upside potential. Last night, a few BoJ officials wanted to move the markets with their words. For some unknown reason, BoJ Governor Kuroda blurted out that the yen was "very weak" as to lead the market to believing it was too weak. This is interesting on a few fronts: One, a weaker yen was modus operandi numero uno. It was not "very weak" when it was down 25, 30 or 35 percent, but that 40 percent mark is the sweet spot. Two, this comes at a very interesting point, following the G7 meetings. The market expects the Fed to increase rates solely based on non-farm payrolls and nothing else because, frankly, the data out of the US is borderline, if not outright, recessionary. The Fed will never hike rates into a stronger dollar. As I said many of times, the Fed will work its way into the currency war by taking down the dollar. But much like their gold charade, the Fed has someone else do their dirty work. The dollar is typically inverse of the yen, and by increasing the yen the dollar is almost guaranteed to fall by default. A falling dollar - in theory - supports the Fed's inflation projections. It also gives the Fed more breathing room to throw around the idea of a rate hike. Please visit my linked idea on the dollar. It is trading very much between S/R, while maintaining the downward trajectory. Still projecting the DXY with an 80-handle by mid-summer.
INDEX:DXY
by CommoditiesTrader
NZDUSD Fib. Retracement OutlookThe kiwi has been able to stable a relatively impressive entrancement, following the volatility in the dollar. I first noticed the rally yesterday after it was reported that US President Obama voiced his concern over a stronger US dollar; and all dollar-pegged currencies jumped. Here is my original tweet prior to the surge: twitter.com It is no wonder on why POTUS would say that (whether he did or did not is irrelevant). The US is carrying almost $19 trillion is public debt, roughly $8 trillion was added since Obama went into office - the most by a single president ever. Higher rates simply equal either interest on created debt. The NZDUSD has been able to fully retrace the sharp decline after Friday's non-farm payrolls report, but is seeing resistance at .7177. A Fib. retracement on the 4H shows that a 23% retracement from the bottom would see prices at .7200, which aligns with price action resistance. The New Zealand central bank's rate decision will be out tomorrow evening. Accoding to a Bloomberg survey via Ashraf Ladi, six of 16 economists believe the central bank will cut rates. This comes after multiple rate increases last year on the back of a "stronger" economy. Near-term price support can be seen at .7150, .7120 and .7085. Near-term resistance will first be challenged by minor descending channel downward trend, while .7200 could provide a level of resistance (Fib. 23 retracement and a psychological whole number level). If price action can close above .72, upside potential is found at .7217, .7252 and .7270. Feel free to contact me or check out my work: Twitter: lemieux_26 Bullion.Directory: bullion.directory
by CommoditiesTrader
The Dollar's DecentThe US dollar index was a thing of bubbly-beauty, gaining over 25 percent in a year. Traders thought that after seven years, it is now time for the Federal Reserve to raise rates. Unfortunately, reality is set it. The Fed has always claimed to be data-dependent. First, the potential for a rate hike was when unemployment dropped to 6.5 percent. That came and went as quickly as Americans dropped out of the workforce. Central bankers are no more than politicians. They will tell you what you want to hear, when you want to hear it. Fed Chair Janet Yellen then stated that a "broader" approach to economic data would be taken, and as long as the economy was improving the likelihood of a rate increase. Only one problem - the data has been horrible. Forget mouthpiece economists, like DB's Joe LaVorgna, who paint a "recovery" picture regardless of how bad the data is. Before Janus Capital's Bill Gross or DoubleLine's Jeff Gruanloch, I been a firm believer that the Fed cannot normalize monetary policy because the multiple asset bubbles are derivative of their reckless quasi-monetary experiment, fathered by Ben "there's no housing bubble" Bernanke. The modus operandi of the Fed is inflation, but the global economic climate is deflationary. It is interesting how all the developed nations, including China, has embarked on quantitative easing or other stimulus only to find inflation declining. If the Fed needs inflation, they need a weaker dollar; and increasing interest rates would only strengthen it. The Fed has to prolong the rate hike because it prolongs the inevitable crash. If the Fed truly though the economy was strengthening and weakness was transitory, policy would have been on a path of normalization. But the Fed is not the first to make this mistake. Forex traders remember that the Bank of England was really the first central bank the market was looking to hike rates. After the polar vortex in the US, the England was gaining some economic steam, and the Sterling rose much like the dollar did, reaching a high of 1.71 (GBPUSD). BoE Governor Mark Carney did not have the courage to tighten policy, and the Sterling collapsed. The good economic data points fell from the highs, much like in the US now. The dollar's decent is one of market participants loosing hope of a rate increase on the back of lackluster data with many data points at or approaching levels not seen during the Great Recession. However, the paradox is that the dollar will likely remain elevated on a retaliative basis. I expect the DXY to have an 80-handle by mid-summer, but I do expect the dollar to rise again as the economic outlook darkens. Consumer prices will likely to fall, and there is the potential for a brief period of deflation - like we saw in 2009. The Fed will have no choice but to enter the currency wars. Key daily levels are posted on the chart. Please check out the attached tradingview post. It shows how the dollar traded following 20+% gains - and it's not favorably! Feel free to contact me or check out my work: Twitter: lemieux_26 Bullion.Directory: bullion.directory
INDEX:DXY
by CommoditiesTrader
4
EURUSD Trades Into Supply Zone, Following Bund & DXY CollapseThis is not the first time the euro-dollar has been able to stage monster rallies, as faith in the US dollar continues to crumble. The dollar index has had a few of the worst days since 2009. Previously via Twitter, I supported the initial rally from 1.0880; but as it approached the current supply zone, I believed it would be a tough nut to crack for further gains. After rejection of the supply resistance at 1.14629 and began to falter, I warned that the pair could fall to 1.1033. It actually fell through that to 1.08208. The pair recovered quickly on a few factors: The US economic data has been absolutely horrendous. Both retail sales and consumer prices are rolling over on a quarterly basis and mirroring the decline of the "Great Recession." Inventories are at an all-time high, with the sales-to-inventory ratio spiking to recession levels. It's always taking a recession to restore the balance. Jobless claims have only been tracking the labor participation rate lower because one cannot receive unemployment benefits unless one is actively looking for a job. New orders and manufacturing have been doping at an alarming rate, and layoffs in the energy sector are staggering. Even more concerning is the financial sector is threatening to cut thousands of jobs, including JP Morgan and HSBC. US Bancrop's CEO said that if the Federal Reserve does not raise rates soon jobs will be terminated. And the Fed is highly unlikely to raise rates, which is bearish for the dollar and bullish long-term for the euro. Futhermore, the general consensus with traders is that Greece will get a deal done. I am not sure how likely that is, which could cause a problem for the euro near-term. The absolute collapse of the bund is driving the euro higher without doubt. Just as of April, the German bund reached a low of only 5 bps, or .05 percent. Today, it has ballooned to 91 bps, or .91 percent. While still under one percent, that in itself is nothing to worry about. However, like with the DXY rise, it is the rate of speed that is alarming. During yesterday's ECB press conference, President Mario Draghi said to expect more market volatility yet not to expect the central bank to contain it. The trend on EURUSD is up as it is making a series of higher lows and, potentially, higher highs. The supply zone resistance will be the key price point to watch. Moreover, if price action lingers within the supply zone without a bullish catalyst, expect the pair to retrace. Look for daily support at 1.1255 and 1.1033. Traders make look to consolidate on profit taking since the pair is up several hundred pips in seven trading days. If price action can close (also wait for confirmation) above the supply zone, upside targets can be found at 1.1655 (currently budding against the 200-day EMA) and 1.1862. A few supporting tweets: twitter.com twitter.com twitter.com (original attempt in supply zone) Feel free to contact me or check out my work: Twitter: lemieux_26 Bullion.Directory: bullion.directory
by CommoditiesTrader
8
Dow Futures, Two sided trade 08:00 am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If the above unfolds, USD can strengthen further and put pressure on earnings expectation of American international companies. The markets can decline if earnings are expected to be soft. Current market support is on the uptrend line around 17500. Expecting a low volume, two sided trade, till FED announcement. For instructional purposes only.
CBOT_MINI:YM1!
by TLTrader