USOIL, H4 | Bearish momentum

Type: Bearish ReversalKey Levels:Resistance: 69.834Pivot: 68.48Support: 64.678Preferred Case:Prices are consolidating in a parallel channel. We see potential for a dip from our Pivot at 68.48 in 38.2% and 23.6% Fibonacci retracement towards our 1st support at 64.678 which is an area of Fibonacci confluences.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 69.834 in line with 61.8% and 38.2% Fibonacci retracement.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usoil-h4-or-bearish-momentum"
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BTCUSD, H4 | Bearish Continuation

Type: Bearish BreakoutKey Levels:Resistance: 58325Pivot: 57026.93Support: 53623.11Preferred Case:Price is reacting in between a descending channel, signifying an overall bearish momentum. We can expect price to drop form pivot level in line with 38.2% Fibonacci retracement toward 1st Support in line with 78.6% Fibonacci projection.Alternative Scenario:Alternatively, price could push up to 1st Resistance in line with 78.6% Fibonacci retracement and 127.2% Fibonacci Projection.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/btcusd-h4-or-bearish-continuation-2nddec"
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GBPAUD, H4 | Bullish Continuation

Type: Bullish RiseKey Levels:Resistance: 1.87588Pivot: 1.87013Support: 1.86572Preferred Case:Price is abiding to the ascending trendline support, signifying an overall bullish momentum. We can expect price to push up from pivot level in line with 61.8% Fibonacci retracement towards 1st Resistance in line with 61.8% Fibonacci projection.Alternative Scenario:Alternatively, price could push down 1st Support in line with 38.2% Fibonacci retracement and ascending trendline support.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpaud-h4-or-bullish-continuation"
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USDJPY, H4 | Bullish momentum

Type: Bearish BreakoutKey Levels:Resistance: 113.434Pivot: 112.678Support: 112.066Preferred Case:Prices are on a bullish momentum and abiding to our bullish trendline. We see potential for a bounce from our Pivot at 100% Fibonacci extension towards our 1st resistance at 113.434 which is an area of Fibonacci confluences.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 112.066 in line with 127.2% Fibonacci extension.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-bullish-momentum"
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Turkish Lira Heads Lower After Erdogan Fires Finance Minister

from Forex News https://www.investing.com/news/forex-news/turkish-lira-heads-lower-after-erdogan-fires-finance-minister-2696547
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Dollar Down, Yen Near Seven-Week High as Omicron Continues to Spread

from Forex News https://www.investing.com/news/forex-news/dollar-down-yen-near-sevenweek-high-as-omicron-continues-to-spread-2696687
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Aussie, rand flounder as Omicron spooks investors

from Forex News https://www.investing.com/news/economy/aussie-rand-flounder-as-omicron-spooks-investors-2696643
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Midweek Market Podcast – December 1

This week is all about the Omicron variant, and the surprise from Chair Powell ahead of the much anticipated NFP data as the new month dawns.

 

HotForex · Midweek Market Podcast – December 1

 

The Market Week – November into December   

Another volatile week greets the new month as countries react to the new COVID-19 variant Omicron, and FED Chair Powell surprised with a big Hawkish tilt suggesting a faster taper and that inflation could indeed be persistent, “retiring” the idea that inflation is transitory. Stocks tanked, the Dollar and Yields rallied before cooling. OIL had its worst month of the year ahead of a delayed OPEC meeting. All eyes now on NFP Jobs data (Friday).

It’s NFP week so jobs, earnings and unemployment take centre stage. The weekly US unemployment claims posted a 52-year low last week under 200,000, and this week 238,000 is expected. NFP is expected to be around 550,000 and unemployment to remain at 4.5%. The data continues to trend lower and to demonstrate a tight labour market.

The vaccine and booster rollout programmes were given a major profile lift as the new and seemingly more transmissible but perhaps less deadly COVID variant was detected, however it will take a number of weeks before this can be confirmed. Countries closed borders and restrictions were re-imposed as uncertainty (the markets’ biggest enemy) gripped sentiment.

Volatility was evident everywhere. In FX the USDIndex spiked to 96.92, dipped to 95.50 and remains sub-96.00. EURUSD sank to the 1.1180s, before recovering to 1.1325, USDJPY dived from 5-year highs over 115.50 to 112.50 and trades today at 113.50. Cable sank as low as 1.3192 before reclaiming the 1.3300 handle.

US stock markets were also hit by the volatility. The USA500, having consolidated around 4,700 for well over a week, tanked on Friday by over 2.2% and has tested as low as 4555. The key 50-day moving average sits at 4540 as the index trades back over 4,600. December is traditionally a positive month for equities; for now though, volatility and uncertainty rule.

The Gold price, having breached $1800, moved as low as $1770 and remains weak without the expected safe haven bid normally associated with volatile and uncertain markets. The 20-day moving average is north of the key $1800 handle and the 50-day moving average sits at $1790.

USOil prices had a particularly volatile week, ahead of the delayed OPEC+ meetings. The expected increase in production from 400,000 barrels/day, from January, is now under question. Prices continued to decline, plotting a low this week at $64.10 before recovering to $69.00 before weekly inventories and the news from OPEC.

The yield on the US 10-Year Treasury Note remains very much in focus. A weekly low of 1.410% was posted on Tuesday ahead of Powell’s hawkish tilt, PMI data and the NFP numbers on Friday. A clear flattening of the yield curved followed Powell’s comments, and the 10-yr trades at 1.44%.

Click here to access our Economic Calendar

Stuart Cowell  

Head Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

from HF Analysis /291312/
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Live Market Analysis – ADP jobs report stronger than expected

Eyes on Jobs, But That’s Not All; Join Andria for a live analysis following the stronger ADP  reading ahead of the US Open and Friday’s Non-Farm Payrolls.

 

Click here to access our Economic Calendar

Andria Pichidi 

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Click here to access our Economic Calendar

Andria Pichidi 

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

from HF Analysis /291418/
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Turkish lira seesaws as central bank intervenes, Erdogan speaks

from Forex News https://www.investing.com/news/economy/turkish-lira-seesaws-as-cenbank-intervenes-erdogan-speaks-2695679
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It’s official – inflation is no longer transitory

America’s central bank has had a change of heart on inflation, and wants to retire the word “transitory”. John Stepek explains what that means for markets, the economy, and for you.

from Moneyweek RSS Feed https://moneyweek.com/economy/inflation/604181/transitory-inflation-and-the-federal-reserve
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Turkey Central Bank Intervenes in FX Markets to Stabilize Lira

from Forex News https://www.investing.com/news/forex-news/turkey-central-bank-intervenes-in-fx-markets-to-stabilize-lira-2695572
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How your business can win the race to recruit new staff

Smaller companies can’t offer huge cash incentives for new staff, but they can still compete effectively for labour. David Prosser explains how.

from Moneyweek RSS Feed https://moneyweek.com/economy/small-business/604147/how-your-business-can-win-the-race-to-recruit-new-staff
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Haven currencies ebb with Omicron fears

from Forex News https://www.investing.com/news/economy/haven-currencies-ebb-with-omicron-fears-2695253
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