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USDCAD 4 HOUR – Waiting for the jobs report
For the lower high
USDCAD 4 HOUR – Waiting for the jobs report
For the lower high to build momentum 1.4200 would need to be broken.
If not, it holds as the bottom of a 1.4200-1.4300 range where the uptrend is consolidating.
Next key focus: Sept jobs report
to build momentum 1.4200 would need to be broken.
If not, it holds as the bottom of a 1.4200-1.4300 range where the uptrend is consolidating.
Next key focus: Sept jobs report
Market Update: Indices
Retracements not going far enough to trigger follow through,with US500 pausing above 61.8% and NAS100 above 38.2%.
Subsequent bounces keep 7800 and 31K as pivotal in setting respective trading tones.
Otherwise, consolidation unless record highs (7845 and 31385) or retracement lows (see charts) are taken out.
US dollar index is consolidating below the 101.96 fresh yearly 📈high, last seen in April 2025 following a strong advance from the September 9 📉low of 98.30. That said, the price sits comfortably above its key moving averages, while the ascending trendline underpins the short-term bullish structure.
US500 (SP500) 4 HOUR: 7 days in a row
Unable to shake its focus from 7700, which has now printed for the 7th day in a row This leaves it consolidating between a double top at 7727 (on this CFD chart) and a double bottom at 7650 The onus is on the bull side to hold regain 7700+ and/or hold 7650 to maintain the range and prevent putting 7600 on the radar.
NAS100 4 HOUR: Consolidating
Consolidating within a 30100-30500, double bottom/double top (on this CFD chart), too tight to last for too long.
Chart, however, shows a lower high (blue lines) so onus is on the bull side to take out 30500 and keep 30100 intact to avoid momentum from building to the downside.
XAUUSD 1 HOUR: Taking a breather
Consolidating after yesterday’s plunge through 4235, leaving a void of key levels until 3995.
While 4150 will likely be pivotal intra-day, back above 4171 would be needed to build some momentum off a higher low that would put 4200-35 back on the radar. Otherwise, upside will be limited.
US500 4 HOUR: Consolidating
Consolidating within a 7692-7753 (on this CFD chart) in a market where month/quarter end rebalancing/position adjustment flows will likely dominate in the next few days. To negate a risk that the moce off the lower high is anything more than a retracement followed by a pause above 7645 (50%), 7650 needs to hold.
NAS100 4 HOUR: Consolidating
Consolidating ahead month/quarter end where rebalancing/position adjustment flows will likely dominate in the next few days.
To prevent the move off the lower high (following a new record peak at 30818) is anything more than consolidation after the retracement paused above 30030 (38.2%), 30K needs to hold.
