Hey Traders,
The US job report came in better than expected last Friday, pushing both stocks and yield higher. Expectation on rate cut fell for November meeting as market participants see another 50 basis cut to be unlikely.
The US CPI will be the main highlight for the week ahead.
Upcoming Economic Release:

S&P500 Futures

Momentum slowed for the S&P500 in the prior week but still managed to closed the week higher. Price was met with downside pressure until the release of the job report. Bullish momentum remains strong and intact and short position should only be considered if price falls below 4950 region.
Dollar Index (DXY)

The United States Dollar Index reverses from the prior week low, closing the week at the 102.275 resistance region. The momentum indicate that price would likely continue towards the upside unless price falls back below the 101.495 region.
Spot Gold

Gold momentum stalled last week as it begun trading sideways in the lower time frame. However price remained resilient while the Dollar surged in the prior week. Bullish trend remains strong but still remains at elevated level.
Trade Recap (Public Channel)
Soybean - Front Month (Analysis 40-1)

Prior week (Week 40) Take Profit - 1

High risk short at market reopening position reached Take Profit - 1 level where we announced to closed / partial / risk free.
Trade Recap (Private Channel)
No Updates
Trade Analysis / Setups
USD/JPY (Analysis 41-1)

Analysis: Price looks to continue towards the upside while potentially having a chance for retracement, possibly giving us a better entry.
Long opportunity: Reversal confirmation at 146.461 support region towards 149.461 as Take Profit - 1 level.
2024 Market Order Signal Accuracy Accuracy: 100% Wins: 12 Loss: 0 |
2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 11 Loss: 0 |
Join our telegram channel at: https://t.me/traineetraders
Instagram: https://www.instagram.com/trainingtraders/
Facebook: https://www.facebook.com/trainingtraders
Stay safe out there and safe trading!
Comments