WTIUSD fulfilled the weeks trade idea, and closed all three take profits. For those of you who were able to get in, congratulations on a 449 pip move. EURAUD also saw a major move this morning and we were able to close off the last take profit, if you had a trailing stop loss set up this would have been extravagant.
New virus variant ruffled bullish momentum for Franc and Yen.
We don’t foresee this news outweighing the story the charts tell us. Our analysis on DXY remains bullish.
For the DXY We still have another run left especially from the imbalance and order block at ( members only ) range, so we are looking at a continuation for next week at least to 97.813. After that, we can then evaluate a potential reversal, time will tell.
The EURUSD pair is looking bearish for next week for a ( members only ) model forming.
GBPUSD is very weak, we expect price to keep going down further and will keep focusing on this pair more next week we are still eyeing the ( members only ) zone.
AUDUSD price is favoring to want to go to ( members only ), and we might see further downside next week to 0.70000. This will be more clear if the initial low gets taken.
On EURGBP, we see a continuation to the upside ( members only ) and we expect a buy idea next week.
Gold looks like will keep heading own to ( members only ) area.
WTIUSD is seeing support forming at ( members only ) area, we will be looking for a potential buy next week to fill the imbalance that currently forming.
In crypto, we got the Thanksgiving sell-off with lots of leverage flushed out as stops were hit and positions liquidated. We’ve explained in the past that Thanksgiving is generally a time where markets sell off as investors look to take profit before the holiday, and it looks like the running theory continues to be true. Luckily we did not have any open positions for levered longs. Since many things are at a bargain, we are going to load up on some longs here. These are slightly higher risk trades because we might have one more small leg down, so please be careful with sizing your trades. We are leaving room to add more if price goes lower. Long positions opened for BTC, ETH, and SOL.
Next week, we are looking at a robust fundamental schedule. Some key events are CAD & AUD GDP, the beloved NFP which is already set to realize in the +600k range. We will be glued to the FOMC speeches for the duration of the week. Unemployment rates have seen a steady decline and coming in below forecast steadily for both USD and CAD, we can target similar results next Friday.
And there’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.
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