Highlights:
- Unemployment claims at 239K, higher than the 232K expected and rising on previous 229K
- Republicans emphasizes their goal to enact ta reform legislation by the end of the year
- Markets have rallied in recent months as lowering corporate tax rate aims to boost profitability
Nevertheless, I have some longer timeframe trade setups that I am eyeing as follows.
- Multiple bottoms on AUDUSD across all time frames, 10 days of ranging over on the daily time frame
- Sell-off pressure is dying off as market fails to breach new lows
- Current long entry anticipates upside over the next few weeks
- USDCAD breaks below the 20-EMA providing early indication of trend change
- Failure to break 1.291~ highs is first indication of drying buying pressure
- Current short entry aims to target the next wave of selling pressure
- Standard range play as price makes daily double top, but fails to break below the neckline
- Third day of a doji signals both a lack of volume, but also selling pressure failing to breach any significant levels (greater market indecision)
- Current long entry plays off the daily range
Advertisements
