Today, the Bank of England became the first central bank to raise rates since the pandemic started, while USOIL remains in consolidation. Our Smart Money AUDCAD trade idea hit TP2 yesterday, we encourage taking partial profits while we set our sights on TP3.
Our bias on DXY still remains bullish until we see something to indicate otherwise. There were lots of high impact news released today, but it didn’t change the HTF direction. We will be looking at this weekend’s COT for evidence to support our bias.
The rate announcement on EURUSD today sent it higher, but it couldn’t change the big picture. So we will keep waiting on the sidelines while we monitor EURUSD. It’s stuck sideways, and we believe that price might stay like this until after the Christmas season.
The Bank of England decided to increase the interest rate from 0.10 to 0.25, which might change the big picture for the GBPUSD. Investors might want to put more money in the GBPUSD, because of the increase in interest. We will also look for the signs of buying on GBPUSD.
For AUDUSD, our bias on this pair is short-term bullish, and we are targeting ( members only ) We will be looking for longs tomorrow and throughout next week.
If NZDUSD price closes above 0.68232 on a daily close basis, we will start looking for longs to go to ( members only ).
For EURGBP, the rate announcement on GPB might change the picture on this pair. Today’s daily closure will give us more insight as to what should happen next.
The direction of USOIL is currently mixed, so we will be on the sidelines until we clearly see what direction it wants to move next.
GOLD usually forms a low in December and starts moving higher till February, as we mentioned yesterday. It seems to have formed a low, therefore we will be looking for longs. Our target for longs on GOLD is ( members only ).
BTCUSD retraced yesterday, and we are expecting it to reject and go lower again. Today’s price action looks to be confirmed a continuation to the downside. We will be looking for sells to continue going lower.
We are still waiting for our NZDCAD trade to activate. Please make sure to watch the live sessions to get the latest updates and deeper details on each currency pair.
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