Good afternoon to all respected moderators & administrator and all forum member form the different areas of the world..
Today weekend ended and and now the market open with its schedule time. The weekend ended now and now we can start our trading on the daily basis for the 5 days next. Also there are is important trading day. So be care full in the trading I open an trade on the 0.08 lot size on the USDCAD in the selling direction and hoping that the USDCAD will roll back toward the 1.26500 where my take profit order set, moreover i open an 0.02 lot size on the SILVER in the buying direction because i am looking that the selling possibles ended now that's why i close my trade with the 3$ loss. Now i will wait because now confirmation looking that the market will variate according to my expectations. Corona pandemic also alarming the world into new ways. Corona cases and the deaths also increased form the yesterday. So this is an sad news for all. Surcease our worldwide people dieng on with this virus. Scientist also trying there hard to recover the cases by making the vaccines antibiotic to end this pandemic but day by day the cases and deaths also recovering increasing and decreasing .Hope that this pandemic will be ended soon. :
EUR. GBP, USD, JPY, AUD, CAD all currencies have the fundamental data news. And that's will be crashing today because the high impacted new will effect the market badly so be care full today. News list:
Economic calendar fundamental data news
EUR important news. Spanish Manufacturing PMI, French Final Manufacturing PMI, German Final Manufacturing PMI, Final Manufacturing PMI, Italian Prelim CPI m/m, ECB President Lagarde Speaks.
GBP important news. Final Manufacturing PMI, Mortgage Approvals, Nationwide HPI m/m, Net Lending to Individuals m/m.
USD important news. FOMC Member Williams Speaks, FOMC Member Brainard Speaks, ISM Manufacturing PMI, Construction Spending m/m.
JPY important news. Unemployment Rate, Capital Spending q/y, Monetary Base y/y, 10-y Bond Auction.
AUD important news. Current Account, RBA Rate Statement, Cash Rate.
CAD important news. Manufacturing PMI.
High impacted news are in the underlined position.:frost
So be care full in trading . today market will be so strong or weak to move. Analysis of market sentiment is often called the most accurate analysis because it represents the technical analysis and fundamentals at once though popularity analysis of market sentiment is still inferior to technical or fundamental because in market sentiment analysis requires high intuition, instinct, a lot of experience and so on in order to really know the mood or mood of the market. Although sometimes the results of news releases do not match the reality, at least this can be taken into consideration besides technical analysis, because from a fundamental point of view I God also greatly influences the price movements of a particular currency.
There are hopes that at least the next month we can get in favor of sellers. Perhaps not so deep, but still the horizontal support level of 90.58-90.30 can be tested, or maybe another shadow to the north! We do not receive any special guarantees for the strengthening of the US dollar, but we can only get new problems with a new aid package and an increase in the minimum wage per hour. This money will need to be taken somewhere, or rather printed as printed and all the previous ones. You yourself understand that an increase in the amount of the US dollar will not lead to its strengthening. Perhaps the US will be able to support its economy and accelerate its recovery, and in this case, let's look at the correction to the horizontal support level of 90.50-89.90 today targeting.
Forecast about the USD INDEX
❶ USD INDEX have a decent downward rebound, which can continue to 90.50, and if the bears do not offer strong resistance, then much higher.
❷ In general, I still have a priority to sell, but at first I will wait for a correction from the pair to the recently broken resistance level at 90.52, followed by a rebound and renewed decline towards targets
around the level of 90.30, where I expect renewed activity from seller just.
❸Very fact of consolidation below 90.65 opens up very good prospects for further sales, however, we still need a rollback to continue the current decline, and today there will be an excellent opportunity to
Forecast about the GOLDGOLD went upward very steeply on the opening time of market today and now the problem is not in choosing a priority, which is strictly down for the near future, the point here is how deep the correctional pullback will be, because they can go to both the level of 1780 and 1821, or maybe completely limit 1850 and it is not clear from this on the daily period from where it will be possible to try entry points for the continuation of the downward trend. Here, after all, there is a double-edged sword, on the one hand, the smaller the rollback, the more aggressive the seller and the more chances to go further down quite strongly, but the stop will be quite large, and if the rollback is given deeper, then in this case the stop will be more adequate and tangible, but the depth of the pullback will also indicate the weakness of the seller on the USD INDEX. In general, there are deals and when to enter the question is open.
❶ The potential in the north is not transcendental, but biting off a little will give a profit, even if only the first near target at 1780 is worked now. If GOLD go further, we will test 1800 as well.
❷ With the expectation that in the future there will be a breakdown of the support level of 1920 and consolidation below this mark. We carry out trading actions towards sales as they are our priority at
❸ The scenario will be cancelled for the seller if the pair consolidates above the level of 1765. If this happens, I will consider buying with the target of 1821 for whole week or for the next 3 days.
Forecast about the SILVER
On the four-hourly period, the situation is a little simpler, because there are areas from which the seller made a downward movement with the renewal of the minimum, and from them, if the buyer is weak on corrective growth, you can try to sell to continue the trend. The most likely levels for this will be the levels of 27.300 and 27.500. There is a variant with 26.950, but with such a deep rise, such a short correctional wave does not look very attractive, so I see no reason to sell from it, unless there is a clear weakness of the buyer and the seller's aggression in this area. The target levels will be the supports - 27.500 and 29.500 for long term deals. Since I don't have much money, I don't trade on the daily chart. But I will definitely look at it to understand where the main money supply is now going.
❶There is a nuance that instead of a correction, the pair can go to the 27.300 mark, but it is too early to talk about this, since we need to look at the wave structure in the correction. We are waiting for
the market verdict.
❷According to the structure of Elliott waves, correctional wave A does not stop its pace lower and lower. In the southern path, the line of the momentum oscillator also rushes, which indicates the opening
of a short position and in this situation the price will increased to the area of the price area at the level of 26.900.
❸After all, the stop took place right above the even level, and he is able to slow down at least a serious landslide, which did not last so long, but managed to walk a very solid distance of 130 points, a lot
for a kangaroo tail pattern on W1 frame period.