After cut bets lessening out the US, Risk assets have been hit across the board. Long side entries can be light as short side profits are taken and momentum grows. Dip buys may be ideal should any positive sentiment inflows occur.
Slight waning in EUR strength is giving way to short side opportunities on any rebounds. Short side bias taken.
Short side bias has flooded in via the negative outlook building on the UK economy. Fears of halted growth are trickling in off the back off poor data. Here's my bias.
FED Meeting yesterday dampened the prospect of faster easing from the FED. Previously optimism of this happening caused significant rallies to ATH's. Now slight waning in this. Re-shorts applicable but only lightly as overall economic health seems generally reasonable.
Initial Dollar strength has waned post FED boost yesterday. Lesser cut bets mean more feeding into USD. BOC seemingly happy to ease, causing persistent weakness. I would use the first exit target (south) for shorts. Sentiment case longer term still remains heavy USD.
EURUSD has recovered from local lows post FED meeting. As seen, rate cut bets are trimmed for 2025 driving investment further into the USD for better returns. Here's how it could unwind.
USD strength after lesser cut bets via the FED and some caution hints from the BOJ on hikes has caused further rallies. Key short zones approach pre intervention levels. Short bias taken.
Rallies on GBP come via lesser cut bets concerning actions of the BOE. Dollar strength also fading into today post profit taking on FED moves.
USD strength fed into Gold falls last night as we heard from the FED and disappointing cut news. Lesser rate cuts attract USD long side inflows on better returns. Rebound coming in this AM is the reverse. Re-shorts ideal within new trend and overall Market Sentiment/Trajectory.
NZDCAD again forming decent swing setups on lows. Major NZD weakness may fade. Looking long into momentum this AM.
Lesser cuts in 2025 are spurring USD strength. This is causing inflows to the USD amongst current AUD weakness. Here's a summary.
GBP has retained some strength within the continuous up trending of the USD. This comes as rate cuts are expected to be slower and also rates remain higher VS other global economies. May be the case that the GU sits flat, as seen. Light longs only until sentiment case recovers and becomes clear.
Here is an interesting trend trade swing opportunity. I already have my index quota filled although as US index long is not the worst of ideas. The trend trade in question is the Dow Jones (US30) which is technically setting up and awaiting a daily buy signal/bar. Here is the interesting aspect. Why on earth is the DJI dropping for over a week back to averages...
Further USD strength / NZD weakness is pulling the NZDUSD further into long side territory and lows previously seen. Should you get long?
Yen pairs across the board have seen upside movements mostly on a tentative BOJ. Potential hikes on the horizon but not immediate by any means. Some moderate euro strength also feeding in to markets has supported further. Plotted Short/Long zones (1) must be light.
FARTCOIN has seen major inflows over the last 24HRS. Very decent long areas on dips with rejection following. If you are going to liquidate, do so when you can see rejecting flowing from the short side.
Poor growth data out of the UK has led to a drop in the value of GBP. Sideways trajectory has persisted on this pair. Current sentiment may support this case further into the week.
Downside momentum has come post BOC decision and also post some worse GDP figs out the UK. Short bias held.