The feedback on the article linked above has been amazing when we first posted it so in case you missed it, you can give it a read now, plenty of fundamental knowledge and actionable bits in there.
Also, we are already writing a new educational article and your questions on the subject are the best to fine tune the whole thing, that way we can cover exactly the topics you need, so keep them coming @JayRally
Also, we are already writing a new educational article and your questions on the subject are the best to fine tune the whole thing, that way we can cover exactly the topics you need, so keep them coming @JayRally
Looking for some Dollar strength this week, will share a chart and more details soon
There it is, as mentioned, looking for some Dollar strength this week, particularly on USDCAD.
Don’t get me wrong, the medium term fundamental context is bearish for the Dollar with inflation cooling off but for this week specifically the conditions look right for a nice technical squeeze of all the late Dollar shorts, but why exactly?
Well, the retail sales tomorrow are likely to print on the strong side and there’s also the FOMC coming up next week, all while the market feels already crowded with Dollar shorts, so yes, that's the right context for a nice Dollar squeeze to rebalance sentiment and positionings for the FOMC next week
Don’t get me wrong, the medium term fundamental context is bearish for the Dollar with inflation cooling off but for this week specifically the conditions look right for a nice technical squeeze of all the late Dollar shorts, but why exactly?
Well, the retail sales tomorrow are likely to print on the strong side and there’s also the FOMC coming up next week, all while the market feels already crowded with Dollar shorts, so yes, that's the right context for a nice Dollar squeeze to rebalance sentiment and positionings for the FOMC next week
BeSomebodyFX
There it is, as mentioned, looking for some Dollar strength this week, particularly on USDCAD. Don’t get me wrong, the medium term fundamental context is bearish for the Dollar with inflation cooling off but for this week specifically the conditions look…
Bit off side so far on USDCAD, will see what we get over the next couple of sessions, we want to see price back above 1.3180 to see some upside
BeSomebodyFX
Bit off side so far on USDCAD, will see what we get over the next couple of sessions, we want to see price back above 1.3180 to see some upside
Unlikely we get the full target on USDCAD but looking for a bit more broad Dollar strength short term heading into the FOMC next week so we should trade at least near 1.3280 before the rate decision
BeSomebodyFX
Unlikely we get the full target on USDCAD but looking for a bit more broad Dollar strength short term heading into the FOMC next week so we should trade at least near 1.3280 before the rate decision
No follow through on USDCAD so we squared the trade right now around breakeven, FOMC tomorrow and PCE on Friday are two potential bearish catalysts for the Dollar so that’s some fundamental context to keep well in mind, will share if we see any interesting trade to take out of the FOMC tomorrow
Waiting for the right trades to set up into the new month, will share if we see something actionable next week, have a great weekend everybody
There it is, August is about to start so we opened a few extra seats to join the Private Network right now…
What's that about? Well, the Private Network is where you can follow our trades with EXACT entry and exit details along with daily briefings and insightful market discussions to keep you well updated on what really matters in the markets.
Here's what traders say about us:
https://www.trustpilot.com/review/besomebodyfx.com
So if you want to follow more of our trades, and I mean EXACT trades with entry and exit details, while also learn from what we do and be around other professional traders to trade smart…
Text "I WANT TO JOIN" @JayRally now to claim a seat right away, 5 available of which 2 already booked, NO more seats until October
What's that about? Well, the Private Network is where you can follow our trades with EXACT entry and exit details along with daily briefings and insightful market discussions to keep you well updated on what really matters in the markets.
Here's what traders say about us:
https://www.trustpilot.com/review/besomebodyfx.com
So if you want to follow more of our trades, and I mean EXACT trades with entry and exit details, while also learn from what we do and be around other professional traders to trade smart…
Text "I WANT TO JOIN" @JayRally now to claim a seat right away, 5 available of which 2 already booked, NO more seats until October
We are looking to long EURGBP into the BoE rate decision this week…
Fundamentally we should expect a slightly dovish BoE meeting on Thursday given the latest CPI print in the UK.
I mean, they will hike 25bps but the forward guidance should turn more dovish than what’s currently expected, and that should put bearish pressure on the Pound later this week…
That’s the fundamental context at the moment, the technical side is also on a similar note pointing higher with that break of the trendline, all at a higher timeframe support zone
Fundamentally we should expect a slightly dovish BoE meeting on Thursday given the latest CPI print in the UK.
I mean, they will hike 25bps but the forward guidance should turn more dovish than what’s currently expected, and that should put bearish pressure on the Pound later this week…
That’s the fundamental context at the moment, the technical side is also on a similar note pointing higher with that break of the trendline, all at a higher timeframe support zone
BeSomebodyFX
We are looking to long EURGBP into the BoE rate decision this week… Fundamentally we should expect a slightly dovish BoE meeting on Thursday given the latest CPI print in the UK. I mean, they will hike 25bps but the forward guidance should turn more dovish…
Squeezing in the right direction, BoE was dovish but not as dovish as it could have been tho, so the EURGBP trade for us is already well protected with stop loss at breakeven and we will be trailing in profit soon
CPI from the US later today, keeping an eye on it as it should set the fundamental sentiment for the next couple of weeks, will share if any interesting trade comes out of it
Waiting for the right setups for the next trade, could be EURGBP longs for the next leg higher above 0.87 but just a thought for now, will be keeping an eye on the CPI from the UK tomorrow as a potential catalyst and will share more details when we see something actionable
Targeting near 1.07 on AUDNZD over the next week or so.
Mix of bearish fundamental context coming both from the data from China which weighs on the AUD more than it does on the NZD, and the overall data from Australia itself which supports a more dovish RBA ahead.
So fundamentally looking for some downside in the pair while technically also we have that noticeable trendline break suggesting a move lower too, you know…
Fundamentals for the directional context, technicals for confirmation and entry
Mix of bearish fundamental context coming both from the data from China which weighs on the AUD more than it does on the NZD, and the overall data from Australia itself which supports a more dovish RBA ahead.
So fundamentally looking for some downside in the pair while technically also we have that noticeable trendline break suggesting a move lower too, you know…
Fundamentals for the directional context, technicals for confirmation and entry
BeSomebodyFX
Targeting near 1.07 on AUDNZD over the next week or so. Mix of bearish fundamental context coming both from the data from China which weighs on the AUD more than it does on the NZD, and the overall data from Australia itself which supports a more dovish RBA…
The retail sales from New Zealand later tonight are a bit of a risk to the NZD so we took a bit of profits and have protected the AUDNZD shorts already, eventually if it spikes higher we will likely want to short it again, will see what we get