The U.S. labor market report remained surprisingly strong despite ongoing efforts by the Federal Reserve to tamp down demand. The US Dollar rallied about 2% on Friday following higher-than-expected non-farm payroll data which came in at a whopping 517,000 through the middle of January. This video illustrates a technical perspective on the current market structure to decipher potential trading opportunities in the coming week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
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The week has started on a bullish note as price action takes out the supply zone identified in the video at the 131.000 zone to signal a potential bullish momentum. Will this turen out to be a true or false breakout? So, on the chart is a simple set-up where if the buy pressure observed around the 131.600 in the last 4 hours continues, then we shall look for buying opportunities from this structure on the lower time frame and a further breakout of the the week's new resistance at the 132.500 level will welcome additional position. Update coming up soonGoodd morning
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Outlook on 15-minutes timeframe. Keeping the option of a breakdown/retest of the 131.600 level openTrade active
Secure the current buy position as we look forward to adding more positions at the breakout/retest of the 132.350 level. Watch the replay of our live session this morning on my channel for more details.Trade active
Secure all buy positions now as the second position was triggered at the breakout of the 132.350 level.Trade active
UPDATETrade active
After being taken out of the buy position as price action break down the trendline, Lets hold on to see how price action plays out in the next hour for our next line of action. Update coming soonGood morning
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Anticipating another buying opportunity above the 132.350 level as buying pressure resumes around the 132.000 levelTrade active
We might be witnessing a "shake-out" at the moment as price action still remains above a zone that is characterized by buying pressure since the beginning of the week. Still looking forward to buying opportunities as long as the price remains within this structure (which is above the supply zone identified in the video at around 131.00 - watch the video again for reference purposes).Trade active
As selling pressure continues, risking a sell position at the breakdown/retest of the 131.600 in anticipation of a retracement of the previous impulse leg... update coming up soonTrade active
Just as discussed during our live session today; the buy position is triggered at 131.900 after the appearance of buying pressure. We anticipate more opportunities at the breakout/retest of the 132.350 level. Update coming up soon.Trade active
Secure the buy position to avoid being taken out in the negativesTrade active
Just as projected during our live session this morning, price action takes out the buy position to trigger the sell stop at the 131.600 level to pronounce the retracement of the previous impulse leg. Fed's Chair Powell speech coming up in an hourTrade active
Secure all sell positions as the second position was triggered at the breakdown of the 131.200 levelTrade active
Outlook on the 4H timeframe s discussed during our live session todayTrade active
UPDATETrade active
Buy pressure resumes above 131.000 levelGood morning
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Selling pressure continuesTrade active
Secure all sell positions as buying pressure gradually surfaces. As discussed during our live session today (video on my channel), we have identified a flat channel within the 131.350 and 130.500 range as we look forward to a breakout for trading opportunities.Trade active
Price action finally breaks out of both the 131.500 and trendline for the first time in the last 24 hoursTrade active
Price action takes out the buy position at break-even as the price drops back into the flat channel identified earlier. Expectation still remains the same as a breakout or breakdown of this channel is the signal to lookout for trading opportunities.Good morning
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Been waiting for the breakdown of the 131.000 level for selling opportunities, so a retest or rejection of the 131.000 level will welcome a sell positionTrade active
Secure sell position as price action retests and rejects the 131.000 levelTrade active
Secure all sell positionsTrade active
The sell position has been taken out as price action climbs back into the flat channel (131.600 and 130.600). So, we are falling back to our previous tendency where a breakout or breakdown of the channel will be our guide for trading opportunities.Trade active
Secure the buy position as we look forward to more opportunitiesTrade closed manually
Taken out of the buy position at break-even as selling pressure resumes hereby bringing price action back into the channel. (131.600 and 130.600). So, we are falling back to our previous tendency where a breakout or breakdown of the channel will be our guide for trading opportunities.Good morning
Trade active
Secure position as price action trigger sell order at the 130.600 levelTrade closed manually
Price action takes out the buy position at break-even again! hereby bringing price action back into the channel. (131.600 and 130.600). So, we are falling back to our previous tendency where a breakout or breakdown of the channel will be our guide for trading opportunities.Trade active
FRESH NEW LOOKMarkets have remained indecisive in the last 11 hours as all eyes remain fixed on the outcome from Michigan Consumer Sentiment Index which is coming up in 45 minutes, In that regard, this is what I see from another technical angle on the 1H timeframe.
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Secure the buy position as price action breakout of the 131.000 Level as projected.Trade active
UPDATE
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.