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Given the decent ADP report just delivered ahead of Friday's NFP figures, I'm curious to see whether the direction of ADP can be an indicator of what to expect on the headline Nonfarm growth figure. Armed with another spreadsheet, I take a look.
Matt Simpson, Market Analyst at City Index and Forex.com
WTI crude has seen a 11% correction from its January high, and 11 of the past 13 days since the high have been down days. But there is a glimmer of hope for bulls as prices are holding above several key levels of support, just above the $70 handle.
Tuesday's bullish pinbar held above respected the 200-day EMA and 50% retracement levels, while respecting the 200...
We're sandwiched between an incoming NFP report and the turbulence from Trump's tariffs. That could provide a double dose of 'fickle' price action, which we tend to see leading up to big events such as nonfarm payrolls or Fed meetings. With that in mind, I update my bearish bias on ASX 200 futures, using the intraday timeframe and a glance at Wall Street...
This is a quick and simple setup based around the assumption that support will continue to hold for USD/JPY.
The market found support at a high-volume node (HVN) last week. And each time the market has either tested or traded beneath the 154 handle, it has been accompanied by heavier volumes and a subsequent move higher. This suggests bears have been burned...
Trump's trade negotiations provided USD/CAD with its most volatile daily range since the height of the Pandemic. Yet the surprise announcement that Trump is pausing Canada's tariffs for 30 days saw prices reverse sharply lower, to close the day with an elongated bearish hammer.
Does that pave the way for an immediate reversal lower? Not necessarily. Using price...
The strong rally from the October low has entered a sideways range, and prices have seen failed attempts to break above a prior double-top high ~1.4468. A bearish pinbar also formed yesterday beneath the double top and the daily RSI (2) is also near the overbought zone.
The 4-hour chart shows a 2-bar bearish reversal at the range highs, and until we see a...