NY: USDCHF - REVERSAL - DEPLETIONAll criteria for our playbook reversal setup met and entry using depletion of buyers
US
DXY Potential Forecast | 10th March 2023Fundamental Backdrop
1. USD continues to face uncertainty and volatility due to the SVB crisis.
2. All eyes will be on the FOMC meeting and the Fed Fund Rate.
3. More dovish on the USD will lead to EURUSD heading higher.
4. Fed might be restricted to hike rates by 50bps due to the instability of the banking industry in the US.
Technical Confluences
1. Price rejected off the resistance at 105.3.
2. Price can potentially come lower to reach support level at 102.65.
3. Given the uncertainty and fear, DXY has reason to continue heading down.
Idea
DXY can tap into the support area at 102.65.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Brace for volatility as inflation meets recession2023 has been ushered in with a rebound in pockets of equity underperformance from 2022. Markets are coming to terms with the fact that stickier inflation and more resilient economic data globally are likely to keep central banks busy this year. Owing to which the spectre of interest rates staying higher for longer appears to be the dominant theme for the first half of 2023. Global money market curves are re-pricing higher to reflect the tighter monetary scenario.
For the Federal Reserve (Fed), markets have priced in a 5.5% terminal rate, somewhat higher than was suggested by the median dot plot back in December. While in Europe, 160Bps of additional rate hikes are being priced for the European Central Bank (ECB) with terminal rate forecasts approaching 4%. The speculative frenzy witnessed since the start of 2023, indicates that equity markets are discounting the fact that the global economy has not faced such an aggressive pace of tightening in more than a decade and the ramifications, although lagged, will eventually be felt across risk assets.
Preference for international vs US equities
Exchange-traded fund (ETF) flows since the start of 2023 resonate investors’ preferences to diversify their portfolios with a higher allocation to international markets versus the US. Since the start of 2023, international equity market ETFs have received the lion’s share of inflows, amounting to US$20.6bn in sharp contrast to US equity ETFs that suffered US$9.3bn in outflows.
Looking back over the past decade, US companies outpaced international stocks owing to two main drivers of equity price appreciation: earnings and valuation. Earnings remain the key driver for equity markets over the long term. If we try to think about what lies ahead, we can see that earnings revision estimates are displaying a marked turnaround for China, Japan, and Emerging Markets (EM), whilst the US and Europe are poised to see further earnings contractions.
China’s recovery remains the important swing factor that could enable its economy, alongside EM and Japan, to outperform global equities in 2023. At 8% of sales, Europe has the second highest exposure after Asia-Pacific (ex-Japan) to China. Yet it’s important to bear in mind that European companies earn twice the amount of revenue from the US than from China. So, a soft landing in the US will be vital for Europe to continue its cyclical rally.
US valuations remain high vs international developed and EM equities
US equity market valuations from a price-to-earnings (P/E) ratio remain high globally, whilst Japan continues to trade at a steep 29% discount to its 15-year average. Amidst the recent rally, European valuations at a 13.7x P/E ratio remain at a 14% discount to its 15-year average. That being said, three months ago European equity valuations were trading at a 35% discount to its 15-year average. After travelling half the distance to their long-term average, European valuations might have to contend with the headwinds of tighter monetary policy.
Evident from the chart above, international markets ex-US continue to boast of favourable valuations allowing for a higher margin of safety, which is why we expect investor positioning to tilt in favour of international markets ex-US over the course of 2023.
The battle between Energy and Technology stocks
The Energy sector is coming off a strong year, as tight supplies and rising demand drove energy prices higher in 2022. While these dynamics have failed to play out so far in 2023, owing to the speculative frenzy in riskier parts of the market, we expect earnings results for energy companies, and their stock performance across the spectrum (including oil, gas, refining and services), to maintain momentum in 2023. Whilst investment in oil and gas production has been rising, it will still take multiple years for global supply to meet demand, which continues to support the narrative of higher energy prices.
Refining capacity continues to look tight this year, given the reduced capacity and long lead time required to bring new capacity online. We expect this to support another strong year for the profitability of refining operators. At the same time, energy service companies should also benefit as spending on exploration and production continues to gather steam. The biggest risk to the sector remains if demand for energy falters in the face of a severe recession. However, as we expect most economies to face a modest recession, this risk is less likely for the Energy sector.
Meanwhile, higher interest rates were the key driver of the underperformance of the Technology sector last year. We continue to see weakness in the Technology sector amidst rising risks of peak globalisation, weaker earnings, and the potential for more regulation. Despite the recent layoff announcements by technology firms, they still appear inflated, with employee growth in recent years 20% too high relative to real sales growth. The COVID-19 pandemic had accelerated the demand in software and technology spending with the rise of remote work and social distancing. However, companies today are more likely to cut their technology spending to offset the higher costs of energy, travel, wages, and other factors. The key risk, in our view, remains that valuations have come down, and if rates do begin to peak, selective technology companies could benefit from the growth generated by their cost-cutting initiatives.
Value vs Growth in 2023
Value stocks tend to be positively correlated with higher inflation. In 2022, high inflation was a result of rising commodity prices, labour shortages, and fiscal stimulus provided by Western economies, whilst Growth stocks were penalised for their lofty valuations. Value-based stocks flourished on commodity supply constraints and cheaper valuations amidst a rising rate environment. Much of this is now priced into Value stocks. Most Value stocks’ earnings growth and valuation re-ratings rely on higher commodity prices or interest rates or a factor outside of their control. Owing to this, we still believe there are opportunities where constrained supply in the absence of falling demand will continue to support higher prices.
There are significant prospects in Europe and Asia where discounts remain wide and sizeable valuation gaps exist across sectors. Europe’s energy sector accounted for two-thirds of Europe’s EPS (earnings per share) growth in 2022. The continuing trend of capital discipline, resilient earnings, and high shareholder returns should keep attracting flows into the sector in 2023. We expect Value stocks to be in better shape to withstand the global economic slowdown. Historically, the Value factor has demonstrated resilience during periods of interest rate volatility.
Conclusion
There is considerable uncertainty about how 2023 will unfold. As the key focus moves from inflation to a recession in 2023, it opens up the possibility of several outcomes for central banks and interest rates. Keeping this in mind, 2023 may well be a tale of two halves, with higher interest rates in the first half, followed by lower rates in the second half as a global recession takes centre stage.
OIL STILL TO REDUCE PRICE TO LAST YEAR'S LOWWhy this?
Price is approaching a high resistance zone and might surpass February's high, then move to the yearly highs of 82.50 giving a false bullish move and then sell more.
We can also spot the continuation pattern that shows price agreement tothe downside.
Where am I expecting price to sell to?
Well the lows of 2022 which is 70.00.
Please do share, and give a follow to support.
GBPUSD Potential Forecast | 17th March 2023Fundamental Backdrop
1. Inflation in GBP continues to be heightened.
2. A lot of instability in the US due to the Silicon Valley Bank crisis triggering a chain reaction to many other banks involved.
Technical Confluences
1. Price has broken the uptrend as seen by the trendline.
2. Price can potentially retrace back to the trendline or the H4 support level at 1.1961 before heading up.
3. Structure has been broken to the upside.
4. Price is resting well above the ichimoku cloud.
Idea
GBPUSD can create a new higher high on the larger timeframe and given the instability surrounding the USD, GBPUSD have potential to continue heading up.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
DXY Potential Forecast | Post NFP | 13th March 2023Fundamental Backdrop
1. NFP print came out 311k vs 224k forecasted.
2. Average hourly earnings m/m printed 0.2% compared to 0.3% forecasted.
3. Unemployment rate came out at 3.6% vs 3.4% forecasted.
4. Resulted in heavy bearish USD sentiments due to the wage inflation decreasing and unemployment rate increasing.
5. This shows the effects of rate hikes by the Fed and hence sentiments believe that the Fed now has lesser incentive to hike by 50bps in the upcoming FOMC.
6. All eyes will now be on CPI release this week and if CPI drops, we could see further downside pressure on the DXY.
Technical Confluences
1. Price reacted from a H4 resistance zone at 104.6 and has since went lower.
2. Very strong bearish pressure from Monday's asian open.
3. Price action has shifted market structure to bearish.
4. Would be appropriate to look for short positions on the USD.
Idea
Price can potentially come lower to tap into the key support level at 102.65.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
DXY Potential Forecast | 10th March 2023Fundamental Backdrop
1. NFP due today at 930pm GMT +8.
2. NFP print and average earnings will be key to the direction of the USD.
3. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets.
4. A few US data releases has coincided nicely with Powell's speech.
5. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000 previous.
Technical Confluences
1. Price is still in a retracement.
2. All eyes on NFP tonight at 930pm GMT +8.
3. Anticipating for price to head higher to clear further levels above.
Idea
I will be looking for price to continue its bullish momentum in the market.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
USOIL on a hot level 🦐 USOIL on the 4h chart after our previous analysis reached the 80 level and dropped to the 0.618 Fibonacci area exactly over a previous support that has been tested a few times before.
The market anyway did not create a new recent lower high and also for this reason we can keep to search for a long opportunity in the short term.
How can i approach this scenario?
I will wait for a potential break of the 0.5 Fibonacci level and in case the Planxcton's strategy will be satisfied i will set a noce long order.
Pre-NFP Analysis | 9th March 2023Fundamental Context
1. Fed Powell's speech that "Fed is prepared to speed up rate rises if warranted by data releases", resulted in strong bullish pressure on DXY and USD across markets.
2. A few US data releases has coincided nicely with Powell's speech.
3. ADP Non-Farm Employment Change came out at 242000 jobs compared to a forecasted 197000 and 119000 previous.
4. JOLTS Job Openings came out at 10.82m compared to a forecasted 10.58m, beating expectations.
5. All eyes will be on NFP releasing tomorrow.
6. Given the recent strong USD fundamental news release, there is reason to believe that the NFP print will come out stronger than expected, which will highlight the resilience of the US economy once again.
At Olympus Lab, we believe that the USD can continue heading bullish in the market.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
AUDUSD Potential Forecast | 9th March 2023Fundamental Backdrop
1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release.
2. Market sentiments surrounding the USD has been flipped bullish.
3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace.
Technical Confluences
1. Strong bearish momentum and pressure happening onto AUDUSD.
2. Price has broken certain key resistance levels and the latest one being 0.6627.
3. Given the strong bearish momentum, we can see price come further down in light of the NFP data release tomorrow.
Idea
I will be looking for price to continue its bearish momentum in the market.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
EURUSD Potential Forecast | 6th March - 10th March 2023Hi everyone, CY back with another forecast. Let's prepare for a heavy and potentially volatile week ahead!
Today's forecast will be for the upcoming week and the general direction where price can potentially head too with EURUSD.
Let me begin..
Fundamental context
1. Next week will be an important week for the USD and there will be the NFP data release that determines the job/labor market in the US.
2. Given Jan's whopping NFP print of 517k jobs , will the job market continue its resilience and stay strong consistently? Or was the month of January just an anomaly?
3. EUR is also riddled with plenty of economic news and data releases such as the retail sales m/m and CPI news release.
4. Mixed sentiments surrounding the USD due to the "hot and cold" data news releases , from the poor durable goods orders m/m due to Boeing, to the decent ISM manufacturing index and to the weakening consumer confidence in the US.
5. However, next week will provide a confirmation to the upcoming bias for the dollar.
MY PERSONAL TAKE
I believe the USD will continue strengthening . The economy in the US has proved far more resilient than ever and the 517000 jobs added for the month of January was not due to an anomaly and there were gains in almost all sectors of the job market. If there is one thing, never bet against the USD.
Technical context
1. Price has been stuck in a 158.2 pip range.
2. On the HTF, EURUSD is still on a bearish trend.
3. However, on the H1 timeframe, EU is on a bullish trend.
4. Price has already swept buy-side and sell-side liquidity as marked by "liquidity taken".
5. Price is currently hovering at a LTF supply zone. (expected to be broken due to Monday's asian opening volume)
6. Price can continue heading up to clear the HTF buy-side liquidity as marked by the red line, which will then come back lower to sweep the HTF sell-side liquidity.
7. Inducement has been marked which serves as a greater confluence for price to tap into.
Thanks for tuning into my forecast on the upcoming week.
Pleasure to have you all here.
Best Regards,
CY
DXY up for now. Powell says so…Headlines today: Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated.
DXY was at a solid resistance cooled off for a bit under it, and it just broke that resistance to the upside.
If interest rates need to continue to be raised we would expect more upside in the DXY.
Rate hikes continue as expected -> DXY will follow traditional technical analysis as expected.
I used the measure rule to calculate possible target for descending channel upward breakout.
It aligns perfectly with a diagonal supply line going back months. Would be poetic to see PA reject at the diagonal and horizontal resistances, which exactly align with the measured move from the descending channel.
(see the vertical white line, the width of the channel)
WTI-Oil 5TH MARIs Sunday again with starting our analysis off with WTI oil.
For us it's a pretty simple setup this week. We're looking for a play off of the supply at the high of our swing, we're looking for price to drop down lower towards the 15 minute demand that we have highlighted below.
Now of course, if we don't get a reaction at this supply. We will look for price to travel back down to buy up into the triple top we have on the daily time frame.
Make sure that you always use your confirmations to get into a trade and always be flexible with your analysis. Remember, sticking to your trading plan and consistently entering the same setups will bring you profitability.
If you like this idea, drop us a boost and a comment down below.
We hope you all have a profitable and successful trading week.
EURUSD Potential Forecast | 3rd March 2023Fundamental Backdrop
1. US Unemployment Claims were better than previous from 192k to 190k.
2. Unemployment dropped which showed that the the labor-market is improving .
3. Still alot of mixed sentiments in the market due to the mixed results of US data releases.
4. All eyes will be on NFP next week to see if the strong result will continue.
Technical Confluences
1. Price is currently respecting the H1 area of support at 1.0576.
2. Will be looking for price to undergo a retracement to the H1 resistance at 1.0634.
Idea
Expecting price to continue heading down after tapping into the H1 level of resistance.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
USOIL free signalas you can see here we have a good chance to take sell USOIL we have a good setup , good price action also the market now in a strong zone
ASIA: USDCHF B&R/REVERSAL/HARMONIC - DEPLETIONOn this last Asian setup price action points to a potential short term opportunity using a variety of confluences, lets see what happens
DXY Potential Forecast | 1st March 2023Fundamental Backdrop
1. US economy has proven very resilient in the market.
2. Recent bearish movements stemmed from the drop in consumer confidence and the durable goods printing negative m/m due to Boeing.
3. However, market sentiments revolving around the USD remains bullish amid the stronger than expected economy.
Technical Confluences
1. Price has tapped onto the daily resistance level and has rejected from it.
2. This could be seen as a retracement from the strong bullish movement on the DXY to continue heading higher.
3. Price looks to be able to test the H4 support level at 104.6 before bullish movement continues.
4. Price is resting well above the ichimoku cloud, signifying strong bullish momentum on the DXY.
Idea
I will be looking for price to continue its bullish trend on the DXY and for a new high to be created.
NZDUSD Potential Forecast | 1st March 2023Fundamental Backdrop
1. RBNZ raised the official cash rate (OCR) by 50 bps to 4.75%.
Technical Confluences
1. Price is on a bearish trend on the daily timeframe, forming lower lows and highs.
2. Price has broken the daily support level and is currently retracing back to the support turned resistance.
3. On the daily timeframe, it seems that price is retracing back to the neckline of the double top formation.
4. Anticipating double top formation to be completed and for price to continue heading bearish.
Idea
I will be looking for price to continue its bearish trend and looking for short entries onto NZDUSD.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
AUDUSD Potential Forecast | 1st March 2023Fundamental Backdrop
1. USD more hawkish than AUD, with a potentially higher terminal rate.
2. US economy continues to be very resilient, taking the USD by strength.
Technical Confluences
1. The overall bias for AUDUSD on the H4 chart is bearish.
2. Price is on a bearish trend, forming lower lows and lower highs.
3. Price could potentially retrace to the H4 resistance level at 0.678.
4. Anticipating price to retest the weekly support level at 0.662.
5. Price has already broken multiple structures to the downside.
6. Price is resting below the ichimoku cloud, signifying bearish intent.
Idea
I will be looking for price to continue its bearish trend and for price to tap into the weekly support level at 0.662 before price could potentially head bullish.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
GBPUSD Potential Forecast | 1st March 2023Fundamental Backdrop
1. Inflation for the GBP continues to be very high.
2. Pessimistic outlook on the economy for GBP as upcoming GDP m/m is widely forecasted to be printed negative, showing the recessionary phase the economy is in.
Technical Confluences
1. The overall bias for GBPUSD is bearish and price can retest the daily support level at 1.186.
2. Price has been on a bearish trend for GBPUSD and is forming lower lows and lower highs as seen by the red highlights signifying the highs and lows.
3. Price rejected off the H4 resistance level at 1.213 and has seen continued bearish.
Idea
I will be looking for price to possibly retest the support at 1.186.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
EURUSD Potential Forecast | 1st March 2023Fundamental Backdrop
1. FX market has been very data driven.
2. Consumer confidence declined again in February, printing 102.9 compared to a forecast 108.5.
3. Along with the durable goods order printing -4.5% m/m compared to forecast, this resulted in heavy bullish momentum coming in on the EURUSD.
4. However, due to the strong economic resilience of the US, with retail sales previously printing very positively, and inflation remaining heightened, USD has further upside potential and EURUSD can continue heading down.
Technical Confluences
1. The overall bias for EURUSD is strong bearish and price can potentially create a new higher timeframe beyond 1.05327.
2. Price is on a retracement and have since partially corrected half of the bullish movement from Monday to Tuesday.
3. Price is still on a bearish trend, forming lower lows and lower highs.
4. Price has tested the resistance level at 1.0633 and bearish continuations ensued.
Idea
I will be looking for price to possibly retest the resistance at 1.0595 before bearish movement continues and for price to potentially form a new low at 1.05327.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
USOIL Potential Forecast | 1st March 2023Fundamental Backdrop
1. Optimistic reports of manufacturing expansion in China, which is recognized as the largest crude oil importer globally causing a better outlook for the demand.
2. Data showing China's factory activity rose for the first time in seven months in February
3. Output is still down more than 700,000 bpd from September with a high demand still in place
Technical Confluences
1. The overall bias for USOIL on the H4 chart is bullish.
2. To add confluence to our bias, price is above the Ichimoku cloud and looks to be breaking the descending trend-line.
2. Expecting price to possibly head towards the resistance at the 79.00 level.
Idea
I will be looking for price to break above the resistance at 77.8 and the descending trend line before continuing bullish towards the resistance at the 79.00 level.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
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ASIA: USDCHF 618/B&R - DEPLETIONUSDCHF has met all requirements for both, the '618' and 'B&R' playbook setup using price action depletion to set our buy stop for our entry criteria. Lets see how it goes
