Euro took the wave yesterday to trade its resistance of 1.1756 twice hunting the stops and then came back a little bit and as we see today earlier to London session almost all major pairs are acting like a sleep time jerks this is all because of today main event . it sharply took a down wave and traded its weekly pivot of 1.1703 if market converts its momentum again into buying we may see breakage of yesterday high when the news will hit and in later hours to it.today daily pivot is 1.1743.
Pound has taken a roller coaster high low waves but it kept itself up on its immediate support levels of previous day low area. Today we should keep an eye on weekly pivot which is 1.2795 currently market is below its daily pivot of 1.2894 , keeping it self below the daily pivot may generate the pressure to trade itself on weekly pivot upside pressures have a new price target of 1.3045. High volatility is expected today so trade with more secure approach.
Here today we have another happy surprise as we see market consolidating for 3 days but at last it did what we kept saying in our analysis that it will come down to 04.90 and 105.00 area. If momentum prevails to today evening market may amend its previous day low and reach up to 104.70 Day pivot for today is 105.50 we have a cloud approaching in 1 hour time frame so a noisy move can be seen for a day or so then we will have a more clear view to plan a better trade.
Auusie spent its whole day yesterday in forming a pattern of head and shoulder and while doing this it touched its resistance level of 1 hour time frame which was told as 0.7210 and market took a high just near to it by 2 points away. Parabolic situation was favoring a sell wave which it took even before London opening and today we have the day pivot as 0.7181. Further down side pressure may lead the prices to weekly pivot which is 0.7118 and if market fails to do it yesterday resistance will be traded again as we are having the job report today. Money management is strictly recommended
At last after 2 days wait in consolidation usdcad has traded our given level of 1.3280. You can refer or previous post to read out our analysis, and market took a corrective wave after trading our level and is now on weekly pivot area and upside to today daily pivot which is 1.3292. staying below 1.3341 will keep a selling pressure active and crossing the given level will cancel it if market stays below the week pivot and sell pressure comes due to any factor as we have the job report today for US. It can drop further to previous day low as well
Gold took a support in early sessions yesterday and later in US session placed a top on the resistance of 1908-10 area as we told you in our yesterday post. As we are writing this analysis for you it took a sharp upside rechecking the monthly pivot of 1908, if market fails to break the 1910 level in a real manner it may come down again , in alternate scenario breakage of resistance of yesterday will open the price range of it up to 1930. As we have job report for US today small lot size and managing the risk more effectively is recommended.
WTI was bouncing when we wrote our yesterday post and we predicted that it may take a buying wave and then come back down to trade its low again of previous day and it was 1 hour time frame analysis . So it did it again, for today if market fails to break 39.00 it may come down even more as it is now under pressure of the 2 days swings and falling back 37.42 is meant to be broken if it wants to fall more and down side next price range is around 35.50 today we have the day pivot as 39.00
Nasdaq took a zig zag in 1 hour main resistance level yesterday night and closed in the same situation whereas previous two hours are surprisingly volatile as we mostly see such moves when we are approaching the job report. it is earlier to London session further downside pressure of 11160 and then 11019 can be expected if market keeps its bearish bias till US session. Day pivot for the day is 11526. Corrective wave of last 4 hour drop has been completed but if market gets a buying momentum again 11680 is our next target.
Legal: CF Merchants is the trading name of Commodity and Forex Merchants registered and regulated in many Jurisdictions. CF Merchants Limited is regulated with license number 24535/2018, at Saint Vincent & the Grenadines as an International Broker Company under the company act of Saint Vincent & the Grenadines. The objects of the Company are all subject matters not forbidden by International Business Companies (Amendments and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and Grenadines 2009, in particular but not exclusively all commercial, financial, lending, borrowing, trading, service activities and the participation in other enterprises as well to provide brokerage, training and managed account services in currencies, commodities, indexes, CFD’s and leveraged financial instruments.
Commodity and Forex Merchants Limited is authorized under license number 1092420 by the Companies House, Cardiff, United Kingdom on 21st August 2017.
High Risk Investment Warning: CFDs and margin FX are leveraged products that carry an extraordinary level of risk to your funds. Trading is not suitable for everyone and may result in you losing significantly more than your investments and therefore, you should not speculate with capital that you cannot afford to lose. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. All the trading related information on this website is general in nature and does not take into account your or your client’s personal intentions, financial conditions and needs. We encourage you to seek independent advice if necessary. It is the responsibility of the client to ascertain whether he/she is allowed to use the services of the CF Merchants based on the legal requirements in his/her country of residence. Please read full Risk Disclaimer for more details.
Regional Restrictions: CF Merchants (SV) Ltd does not provide services and accept applications from the residents of certain countries, such as United States of America, Canada, Israel, North Korea and Saint Vincent & The Grenadines. The statistics on this website is not directed at residents in any country or jurisdiction where such distribution or use would be contradictory to local law or regulation.