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Hey Traders,
Last Friday had a significant impact on the stock market as yield continued to ascend higher with small cap and technological stocks suffered the most. However, Gold remained resilient despite the stronger Dollar, closing the week higher.
With Australia reporting higher CPI numbers, the market is also expecting the upcoming US CPI to be higher than expected but will it move the market?
Upcoming Economic Release
S&P500 Futures
The S&P500 weakened, looking to trade towards the weekly 50 period exponential moving average as it has been extended for a period of time. If price continues to fall, the moving average will be within the region of the minor support at 5725 region. This may act as a good long opportunity but if it does not hold, price may look to trade towards 5440 region.
Dollar Index (DXY)
The United States Dollar Index continues to ascend and now at an overextended level. Price has already approached the previous key support region back on October 2023. If price do fall, 108.105 will act as the first support level.
Spot Gold
Upon the reversal of the bottom of the consolidation zone at 2625 region, Gold reverse and looks to approach the top of the consolidation at 2715 region. Direction remains sideways unless price manage to break out of the consolidation zone.
Trade Recap (Public Channel)
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Trade Recap (Private Channel)
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Trade Analysis / Setups
NZD/CAD (Analysis 3-1)
Analysis: Price has fell into extended zone and trades near key support region. Long position can be taken with consideration of retracement or consolidation.
Long opportunity: Long at market reopening as high risk trade towards 0.80415 as Take Profit - 1 level.
2025 Market Order Signal Accuracy Wins: 0 Loss: 0 |
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Stay safe out there and safe trading!
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