EURUSD ANALYSIS - SHORT SHORT UNDER 0.9920
TP:0.9842
SL:0.9920
Technical: Trend+channel
Fundamental: Economic news.
Money management:
Position sizing
Good Luck!
Fundamentalanalsysis
Fundamental analysis in cryptoThrough fundamental analysis , we can try to detect the authentic and objective value of cryptocurrencies in spite of their market price.
Through these techniques, we can assess whether a cryptocurrency is undervalued or overvalued, and we can detect a trading opportunity.
With fundamental analysis , traders evaluate and study what can affect the price of a security, such as external factors or events. This type of analysis takes advantage of tools like periodic financial statements, financial ratios, economic forecasts and other types
of additional information that can affect the value of a security.
There are different approaches to fundamental analysis that analyse micro and macroeconomic variables in different ways:
1. Top-down approach: through this approach, the trader analyses macroeconomic variables first and then microeconomic variables. Global information is taken in first, followed by more detailed and specific values and variables addressed. With this approach, the trader looks at the world economic situation, and then looks more at the most economically attractive countries, along with the sectors with the most potential, and within them, chooses which ones are most convenient to invest in.
2. Bottom-Up approach: this approach is the opposite of the previous one: first the trader chooses companies with growth potential, analyses the sector they operate in and then the economic situation of their countries; the overall global economic situation is the last thing to be analysed.
THE ADVANTAGES:
This approach allows the investor to collect and analyse information external to the markets but that might still influence prices. This way, the investor has a clearer vision of the reality of the market.
THE DISADVANTAGES:
The trader using fundamental analysis needs more thorough knowledge and experience of accounting, business and, in the specific, the sector of interest.
Moreover, investment terms with a fundamental analysis are longer because it requires more studying and background with respect to other analytical tools, like technical one.
It can also be outweighed by chance factors, such as physical disasters affecting commodity prices and companies in general. In general, markets can also be surprised by unexpected changes in economic and political scenarios.
In the specific case of crypto markets, fundamental analysis can be used to analyse the exterior components that can affect cryptocurrencies.
Fundamental analysis can be carried out by looking at its use cases or community, but also at the team behind every specific crypto project, something that tells a lot about its
overvaluation or undervaluation.
Indeed, in the case of crypto markets, there are no financial statements, and therefore they cannot be evaluated as normal financial assets. Most cryptocurrencies are still in the
developing stage and they do not have a lot of real-world applications; they rely mostly on miners, users and, of course, developers.
It can be of great importance given that crypto markets are relatively more volatile and less stable than others, and due to their irregular situation investors react quickly to exogenous factors. These factors can vary and go from regulatory pressures to simple tweets - take Elon Musk as an example.
Fundamental analysis can indeed help comprehend the fair value of crypto assets - data about this can be found on different websites, such as Reddit or Telegram. The use of technology is of utter importance.
The investor can assess the usability of the adoption of the cryptocurrency he's interested in, but this tool can also be used to study how governments value cryptocurrencies and whether they want to implement new regulatory policies about it. We can also identify the progress that it's being made in terms of technology, such as how the activity of cryptocurrency is developing, along with its software or media coverage - all these factors contribute to
increasing the crypto asset's value.
From a psychological point of view, it can also help the investor trade with more confidence, knowing that a thorough analysis has been carried out. When the analysis is done daily, it
can help you develop a finer investment strategy.
In terms of financial metrics, what can be used is:
Market capitalisation: the investor can look at the total market worth of cryptocurrency, which indicates whether there is space for growth. To get that, you multiply the current price per coin by its supply.
Liquidity, or how easy it is to buy or sell the asset. A liquid market is a competitive market and is usually favoured by investors, also because it entails a lower bid-ask spread.
Volume:
it spurs liquidity because it is telling of how much money has been exchanged for a certain asset.
Fundamental analysis usually prioritises the assessment of transaction values. If the transaction value is consistently high, it means that the cryptocurrency is in steady circulation.
Fees:
they reflect the demand on the blockchain. Every cryptocurrency can have its own transaction fee.
The assessment of the fees paid over various periods gives the
trader an idea of how secure the crypto asset is.
Supply mechanisms:
general microeconomics state that when supply is low and demand is high, price rises. A general belief for cryptocurrencies is that when supply runs out, the price will rise (this is, for example, a general prediction of Bitcoin holders). On the other hand, investors can also use project metrics for their fundamental analysis:
Whitepaper:
it is a technical document outlining the purpose and operation of the
project. It should comprise the blockchain technology solutions, the use cases for the currency, the planned features and upgrades, sale and team information, and tokenomics (the factors that impact the tokens' use and value).
The team:
crypto teams are easily accessible to assess nowadays so that the investor can learn more about them and their credibility.
The competitors:
the investor can conduct an analysis of the crypto assets; competitors. If there are other cryptos which are more widely adopted or valuable, maybe it is best to back off from the item of interest.
Last but not least, important instruments when evaluating cryptos through fundamental analysis are Blockchain metrics or On-chain metrics. The rising popularity of blockchain
has made sure that lots of different types of information could become extremely popular, such as the number of active users, total transactions and transaction value.
There are three fundamental metrics in this case:
1. Hash Rate :
this is a measure of the mining machine's ability to conduct hashing computations in an efficient way.
The hash rate also determines the profitability of the miner, as it indicates the likelihood that a block will be mined, and, indirectly, the chance of receiving the block reward. An investor should look at cryptos with a more extensive network because they are more resistant to attacks or data manipulation.
2. Status and Active Addresses:
active addresses measure the number of dynamic blockchain addresses over a period of time. They are helpful in comparing the growth or decline of the activity or interest in the coin or token. The investor can also get to
the active address through the computation of the total number of unique addresses over time (and a comparison of the results).
3. Transaction values : they can be determined for the assessment of the regular circulation of the crypto asset. It indicates how much money was exchanged on a given period, and therefore, the number of transactions.
CANARA - Good Buy only around 260CANARA Bank has posted highest ever net profit, Money is being pumped into public sector banks,Also Public sector banks have been regularized properly by RBI, And for any big loss RBI is always there for rescue. Strong support from government makes public sector banks a great value buy.
InvestMate 🪙 Gold under pressure from strong doalar 🪙 🪙 Gold under pressure from strong doalar. In today's analysis we will look at the chart of gold, which in the current week has shown that there is no strength for any increases.
🪙 After the rebound that took place 2 weeks ago, we could have hoped for an enlargement and extension of the upward correction.
🪙 But decisions to raise US interest rates again by 75 basis points to the highest levels in 14 years. And on yesterday's still-persistent inflation data. Doesn't leave the Fed with many options in the fight against inflation.
🪙 Dollar strengthening is in play.
🪙 As a result, commodities such as gold where a strong dollar does not support the continuation of gold prices at high levels are getting hit.
🪙 Looking at the technical aspects of the chart. We are talking here about the weekly chart.
🪙 We can see that all major indicators such as MACD, RSI, STOCH, are strongly bearish and the breakout of the 50 and 200 candle moving average does not help the situation.
🪙 It is also worth noting that the one to one correction did not hold the gold level and we continue another downward impulse.
🪙 The question I pose. It is whether we will see the 1550 level on gold which is the fibo range of 1,272 of the last upward impulse
🚀 If you like my analysis leave a like and follow my profile 🚀
META Important Milestone!As you know, I am a long term investor. Thus, I usually buy stocks for the long term, and never short any equities due to shorting's unlimited risk. With a P/E ratio of 10, it would be reasonable to think that META is a good bargain considering its status as a social media giant. However:
1. META's Userbase is declining, something never seen before in the history of the company.
2. Competition like Google's Youtube and ByteDance's Tiktok is catching up and overtaking META
3. New Apple (AAPL) IOS changes, which made META's data collection process much harder, has and will adversely affect its ad revenue (which is 98+% of its total revenue)
---------- Specifically, the IOS change requires META to get the user's permission to collect data for Ads. Until now, data shows that only 33% of users allow META to collect their data for more personalized ads. I think you can see how this affects Ad revenue.
Thus, the "metaverse" is the only thing that may/may not save META from its inevitable doom. However, that means that:
1. The metaverse needs to develop in the years ahead, and not just stay at a gaming level
2. META must have enough cash to fund research into the metaverse
3. It must dominate the metaverse industry
Although I personally think that META is a lost cause, I choose not to label this as "#METAshort" because I think all investor have their own opinions. Here are some good points about META:
1. 10 P/E ratio (lower than S&P 500 average
2. META's adaptability
3. Technicals? (Not seen yet)
I choose to write this now because META's Q3 results are tomorrow and are key to how META's stock and the metaverse will develop in the future.
Anyway, thats all for my idea. Please leave a comment and boost this idea so it can go out to other investors! 😊
P.S. Someone give me coins :)
InvestMate|EUR/CAD Time to fall. Long-term in-depth analysis.💶EUR/CAD Time to fall. Long-term in-depth analysis.
💶The Euro situation does not look very interesting.
💶The market consensus is that economic growth in the euro area will slow down.
💶The situation is saved by the low unemployment rate of 6.6%.
I would add that this is the lowest unemployment rate ever recorded.
💶Unfortunately, the situation in the labour market is not helped by rising inflation, the next year-on-year reading of which is due on 31 October, and which could return to 10% or even beat it.
💶The euro is still a cheap currency. This is compounded by relatively low interest rates compared with the USA, Canada, Australia and the UK, where they are sometimes many times higher.
💶The interest rate in the EU is only 1.25%. On 27 October we will find out what the next decision will be, with the market expecting a sharp increase of 75 basis points to 2%.
💶The war in Ukraine and the tense global situation have thrown in their two cents, resulting in the EU having its lowest trade balance in history at €-50.9B this month. Europe is definitely importing more than it is exporting, which is not healthy for the economy.
💶The PMI for industry has also only been falling and falling since January. It has fallen from 58 points to 48.10 currently.
tradingeconomics.com
💶Finally, I would also like to draw attention to consumer sentiment, which stands at -27.6. These are once again the lowest levels in the history of the European Union. We will find out how they are for October on 28 October.
💶As we can see, the situation in the European Union does not look colourful, much of this data has already been discounted, but I believe that the market has not discounted the economic impact that such a persistent situation could have on the future of the European Union.
Moving across the ocean to Canada.
🍁There, too, economic growth is forecast to be slightly lower than previous readings but we do not see as much divergence as with the euro. tradingeconomics.com
🍁Unemployment remaining low at 5.2%.
🍁Inflation slowly slowing The latest reading on 19 October indicated 6.9% which, compared to the peak of 8.1% recorded in June, offers a breath of optimism.
🍁Interest rates definitely higher than in the EU. At 3.25%. With the next rate hike due on 10 October, the market assumes it will be a 75 basis point hike to 4%.
🍁Trade balance at a high of C$1.52B in August. On 3 November we will find out how much it amounted to in September. Canada is now seeing very strong trade volumes. The highest in a decade.
🍁Manufacturing PMI low of 49.80 points.
tradingeconomics.com
🍁The Consumer Confidence Index is falling but neither all-time highs nor a "crisis" state is just low at 48.51 points.
tradingeconomics.com
🍁As we can see, Canada's economic situation looks decidedly better than that of the euro area.
🍁Will we see this reflected in the chart of these currencies?
🗠Looking at the chart we see that EUR/CAD has been in a downtrend for almost 2 years now. The trend definitely took a turn for the worse after the outbreak of war in Ukraine.
🗠Since 22 August, an upward correction of 5.53% began on the downtrend.
🗠But over the last month we do not see the strength for a further upward breakout. On 18 October we made a double top formation and immediately recorded a decline. Is this a sufficient signal for a decline?
🗠Looking at the euro compared to other currencies where it is definitely stronger and the rebound was definitely more blunt. Only on the dollar did we not see such a big increase because the dollar has also been on the rise for the last few weeks.
🗠Coming back to EUR/CAD, we are currently at the resistance levels set in April and July this year, these are the 1.34-1.35 levels. We can see that the price is struggling to break through them.
🗠As for taking positions. This seems to be a good time to take positions, either to wait for a retest of the 1.34 levels after the declines and attempt to rebound from below.
🗠Or setting a stop above the recent highs above the 1.36 level, with a target somewhere at the new lows. I am a fan of not setting targets but observing the situation as it unfolds, but in this case the level of 1.25 seems to be the most reasonable in case the falls continue.
🗠I don't want to bore you with indicators, but looking at any of them we can clearly see a downward divergence.
🗠Also the direction is known. Trend is set, stop and target known, I invite you to follow this pair. I am very curious to see what the coming week will bring.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
💶 EUR/USD Feels Bearish 💵 InvestMate💶 EUR/USD Feels Bearish 💵
💶 The current situation on the financial markets is such that everyone is aware that a recession is coming, but no one can say how big it will be and what its nature will be.
💶 Most Central Banks are ready to raise rates to prevent prevailing inflation.
💶 It is worth bearing in mind that a significant part of inflation is energy price increases related to the tense global situation.
💶 Overnight indexed swaps for the Eurozone are currently pricing in an 85% chance of a 75 percentage point rate hike later this month (100% chance of a 25 percentage point hike and 100% chance of a 50 percentage point hike).
💶 Currently, the market is pricing future rate hikes as highly likely.
💶 In recent days, the dollar began a continuation of the uptrend after we heard on the war front that tensions of the Ukrainian-Russian conflict had increased after a series of missile attacks on Ukrainian cities that was supposed to be in retaliation for the bombing of a bridge connecting Russia to the Crimean Peninsula.
💶 This week there will be no significant data from the Eurozone, investors will be mainly focused on data from the U.S., including Wednesday's FOMC minutes meeting and Thursday on inflation.
💶 As for the EUR/USD pair, it should be borne in mind that we are already well below parity and last week's Tuesday attempt to attack parity ended with the Euro falling against the dollar.
💶 Also on the horizon is the approaching winter which will be one of the biggest challenges in the energy management category that Europe has faced in years.
💶 For the time being, there are no clear-cut solutions to the issue of energy governance in Europe, Friday's meeting in Prague regarding the proposal to impose a cap on the wholesale price of gas did not produce any concrete results
💶 Looking at the technical side of the analysis, the view of the falling star formation on the weekly interval on last week closing candle, is not a positive one.
💶 We can also see the same pullback with a long body at the top on the monthly candle.
💶 Tuesday's candle closing was also made after a slide from higher levels leaving a large body at the top.
💶 Looking ahead, we are likely to see an attack on the recent low in the coming days and there is a good chance of seeing new lows in the future.
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💷The pound is getting up on its feet💷💶Eur/💷Gbp analysis Eur/Gbp analysis
🚀In recent days, we have seen a massive purchase of the British pound following a speculative attack on this currency.
🚀It seems that the Euro has lost significantly compared to the British Pound. The price of the Eur/Gbp was pulled back to the levels before the massive breakout, which could be caused by the interference of the central
bank.
🚀From Friday's information readings, for the first time in history, inflation for the euro area has become two digits and is as high as 10%. The main component of the infomation is the increase in energy prices in the Euro zone.
🚀It is also worth noting the increase in the unemployment rate in Germany, which already amounts to 5.5%
🚀The increase in market interest rates in Great Britain, forecasting that the interest rate in Great Britain could reach 6% next year, had an impact on investors and the British Pound became an interesting asset.
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⬇️ AUD/CAD prepare for a decline? ⬇️⬇️ AUD/CAD prepare for a decline?
⬇️ Since the start of the sideways trend that took place on October 10, it has been rather dull on this pair, a few breakout attempts and nothing more.
⬇️ But today's week has a lot of important events in store for both of these pairs.
⬇️ Starting at 1:30 a.m. on Tuesday English time, we will have the Minutes meeting where the current arriving data from the Australian economy will be discussed.
⬇️ Then on Wednesday, inflation readings from Canada. In which the market is betting that inflation will recede.
⬇️ And on Thursday culminating the week with Unemployment Rate data in Australia. In which the market currently expects no change
⬇️ It's shaping up to be a really exciting week.
⬇️ Turning to the technical side on the 4H chart I am currently discussing. We can see that we are below the 2 key moving averages MA 50 AND MA 200, which signals that we are in a deep downtrend.
⬇️ Then analyzing the MACD, we see nothing special on it, only low bars signaling a small range of movement over the past few days.
⬇️ RSI, on the other hand, is below the 50 line, which signals the continuation of the downward trend.
⬇️ Similarly, with Stoch where we are oscillating near the 20% zone, the breakout of which is a strongly bearish signal.
⬇️ The small range of movements and lack of interest in the pair provoke the continuation of the downtrend
⬇️ Stop loss was set above the accumulation range
⬇️ Target was set at the round level of 0.85
⬇️ Risk/Reward: 1.58
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NZDCADBottom blue levels indicate monthly support. Market reached support, also fulfilled Daily Fibonacci "D" extension.
Anticipating market movement towards monthly resistance (after Fibonnaci extension hit market begins new retracement phase).
Monthly = Direction
Daily = High or Low price
1Hour = entry
According to daily timeframe we are at a low price, still forming new Fibonacci "ABC" sequence.
Getting early entry on lower timeframe (1Hr) as market is forming higher highs and lows.
Also notice the head and shoulders pattern formation at monthly support.
Fundamentals in favour of NZD at time of posting this. LOTS of retail sellers in the market as we know most retail traders tend to lose money...
Entry:
11:00AM SA time
SL: 0.77563
TP: 0.78821 (next resistance)
Lot: 0.5
GBPJPY Analysis Ahead of CPI Inflation ReportWelcome back! Let me know your thoughts in the comments!
**GBPJPY - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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EUR/CAD Medium term Fundamental Bias 1.34050 stop at 1.35320
- This forecast is very valuable if you currently have trading experience.
- If you are a day trader, you can look at the technical levels and trade to the forecast direction we predicted and make more profits.
- This forecast is based on the current market sentiment and the fundamental value of the currency. Sentiment can change on the news at any time.
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HFCL - Avoid Completely-MultipleRedflagHFCL Ltd (Himachal Futuristic Communications Limited) is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration, and manufacture and supply of high end telecom equipment, Optical Fiber and Optic Fiber Cable (OFC).
Product Portfolio
Optical Fiber Cable (OFC),
Optical Fiber,
Wi-fi systems,
Microwave radios,
Routers,
Ethernet switches,
Electronic fuses,
Electro optic devices
Revenue Break - Below break up has 2 to 3% export revenues
78% of revenues and sale of Telecom products
22% of revenues from others.
General Notes
1. Promoters shares are pledged to the extent of 44% - Redflag
2. Associated with reliance jioinfocom
3. Sales, Profits and EPS are not ok with me. Its been constanly reducing on QoQ basis which is not good
4.Cash flow is negative - Red flag
5.Interestingly cash conversion cycle is 77 days (Increased) but payables day has been decreased to 177 days ( Previously it was 262 days)
6.Public holding more than 50% - Redflag
7.Over the years it has been playing with multiple news in the markets but it has not performed a bit. Every time investors have burned hands on this
8.Techincal setup has been broken upwards. For trading this can be taken up with stoploss of Rs. 60.
Healthcare Global Enterprise - Good BSHealthcare Global Enterprises Ltd is engaged in setting up and managing hospitals and medical diagnostic services including scientific testing and consultancy services in the pharmaceutical and medical sector.
Business Area
1. Presence in Oncology value chain
2. Cancer Hospital/Networks
3. Fertility Business
4. Multispeciality hospital in 4 small towns
Revenue Break
95% from Oncology and Cancer Network
5% from Fertility and Multispeciality hospital
General Notes
1. Slowly expanding its business in smaller towns by providing quality facilities
2. Sales have been growing steadfast on QOQ basis with co turning profits in last 2 quarters
3. EPS turned positive in last 2 QOQ
4. Borrowings getting reduced from last 3 YOY but still looking significant. 1.25% of reserves are borrowings
5. Cash on balancesheet is big since they has sold their entire stake in Sept 2021, the company sold its entire 38% stake in its JV, Strand Life Sciences Pvt Ltd to Reliance Industries for ~157 crores. It acquired the oncology hospital labs and clinical trials business from the JV for ~81 crores consequent to the stake sale. It booked a profit of ~142 crores on the sale.
6. Debtor days and Payables are slowly seeing improvements which is just a begining. Lot of efforts is required to look clean
7. ROCE is meager since its EPS turned around in last 2 quarters so it might take another 6 months to have good ROCE. Presently it stands at 5%
8. IFC is investor but slowly reducing its stake.
9. Overall balancesheet looks good and worth for investment
EUR/AUD POWERFUL SHORT (Waiting on confirmation)Macro scores:
EUR = - 50
AUD = 4
For more info visit logikfx.com
HOW TO TRADE COMMODITIES THE RIGHT WAYThis video explains 3 concepts, technical, fundamental and sentiment analysis. All three were used as a solid confluence which gave a remarkable 500+ pips move.
Venus Pipes and Tubes - Hot businessVenus Pipes & Tubes Limited is a manufacturer and exporter of stainless steel pipes and tubes. The company is manufacturing stainless steel tube products in two broad categories - seamless tubes/pipes and welded tubes/pipes under which five categories of products are manufactured namely, stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes and stainless steel box pipes
Revenue Split FY22
Industry wise
Engineering – 60%
Chemicals - 31%
Others – 9%
Geography wise
Domestic - 46%
Stockist / Traders - 44%
Exports - 10.5%
General Notes
1. Recently listed co
2. Has 5 product lines in business with good client tele
3. Co is working on expansion plans. It already 10,800 MT installed capacity. Company is currently working on capacity expansion of Seamless & Welded Pipes/tubes from 3,600 MTPA & 7,200 MTPA to 9,600 MTPA & 14,400 MTPA, respectively along with the introduction of Mother Hollow pipes with 9,600 MTPA capacity.
Co. has proposed to install an acid regeneration plant (ARP) where the consumption of acid in the manufacturing process shall be reduced substantially and the same will help it in improving operating margins.
4.Major export presensce from FY 22
5.Short term borrowings has increased and cash flow is 0 (100% utilization). EPS has decreased on QOQ because of the expansion since internal accruals and debt is taken for these expansion
6.ROE and ROCE are not specatular but with expansion work getting in we can see the fruits in FY23
EURGBP Potential Selling Opportunity!In Today's trading session we will be monitoring EURGBP for a Selling opportunity in and around 0.866 area. Once we get a Bearish confirmation the trade will be executed and shared with our premium subscribers.
- RISK DISCLOSURE
TRADING IS NOT SUITABLE FOR EVERYONE. TRADING FOREX INVOLVES HIGH RISKS AND CAN CAUSE YOU A COMPLETE LOSS OF YOUR FUNDS! Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose! The high degree of leverage associated with trading currencies means that the degree of risk compared to other financial products is higher. Leverage (or margin trading) may work against you resulting in substantial loss. And feeling a sensation similar to getting sucker punched in the stomach. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Market Opinions BigGainLTD will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. YOU are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Internet Trading Risks There are risks associated with utilizing an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. Since BigGainLTD does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet. Distribution This site is not intended for distribution, or use by, any person in any country where such distribution or use would be contrary to local law or regulation. None of the services or investments referred to in this website are available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of and comply with any local law or regulation to which they are subject.
Possible 300 pip move after confirmation My past EURGBP analysis didn't play out as planned, looking at the daily I see why. The market wasn't ready to go short yet and still isn't. I am going to be waiting for a daily choch to the downside as my confirmation. If I get con formation I will then go to lower timeframes to get a refined entry. For now I'm leaving EURGBP. Also I'll keeping an eye on fundamentals assessing if they align with technical. We have GBP interest rate next week so keep an eye on that.
The DXY - Will likely determine the fate of the broader market. Hello Traders,
As many of you know, the DXY has a large part to play in whether the broader market rallies, or dumps. Just take a look at yesterday when the broader market dumped, the dollar had a massive rally.
- Knowing that there is this correlation, we can use the DXY to help us determine what the broader market might do.
- We want to find the likely scenario for DXY, and use that likely scenario to guide our decisions for other trades.
Right now, the DXY is forming a 4Hr Bull Flag. As the name implies this could potentially lead to a bullish move. If the DXY does trend Bullish, the broader market will likely trend bearish.
As a broad statement:
DXY Bullish = Risk Assets Bearish
DXY Bearish = Risk Assets Bullish
So if the broader market is going to have a shot at a rally, the DXY needs to rollover and trend bearish.
So then how do I know whether the DXY is going to be bullish or Bearish?!
- Simple, we have support and resistance levels that will guide us.
If support breaks, the DXY will rollover and most likely create a higher low.
- This rollover will give bulls in the broader market the confidence to rally the market.
If support holds and the DXY breaks higher, the bears in the broader market will likely take price lower.
Use this chart as a guide and keep an eye on these levels.
Thanks everyone and best of luck trading!
Dabur India - Short term gain of around 14%Please refer chart for detailed explanation and Targets.
Fundamentals are strong so no need to worry even if price goes down.
If you think my analysis is helpful than please do like my idea. For future reference do follow me so that you do not miss any of my analyses.
You can also check my other analysis where we achieved 15 to 20% return in short term. Link is shared below or else you can visit my profile and check all the Ideas which I have shared.
Feel free to leave any questions you have in the comments! I will gladly respond to them.
Hopefully this helps you out a little bit. Please make your own research before investing.
P.S: This is not an investment advice. This chart is meant for learning purposes only. This is my personal viewpoint so please Invest your capital at your own risk.
USDJPY It will retrace to Support ZoneWelcome back! Let me know your thoughts in the comments!
**USDJPY - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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