Out a short while ago
JPMorgan raised its EuroZone GDP growth forecast after the PMI survey surprised to the uposide in april. Q2 GDP forecast now 1% (prev 0.75$) and H2 ;24 1%
Source Newsquawk.com
TODAY IS A GOOD EXAMPLE OF A NEWS REACTION WHEN THERE IS A SURPRISE IN THE DATA. THIS BLOG ARTICLE DESCRIBES HOW TO TAKE ADVANTAGE OF THE NEWS
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How to Trade By Taking Advantage of News Rather Than Letting News Take Advantage of You“
Dxy overall trajectory is now down, but so is Sterling due to prior data. Euro overall bias is up so buy dips to get in on the next attempt to clear 107 would be a common position now from a portfolio perspective (0660 is safer than 0680). Do not see 10640 being significantly compromised for duration.
US500 4 HOUR CHART — Primed to react
Looking at this chart the rising red AT lines had it set up for a positive reaction to headline news.
This chart shows 5081 as a key resistance (other CFD charts may show a different level but a similar chart)
On the downside, expect support as long as it can maintain above 5000.with key support levels below it.
Thank JP. Side note on pairs, UsdJpy and UsdChf overall upward bias has not been significantly compromised with today’s selling in my view although it got my attention. Expecting further selling on bids above the figures. Us treasury purchases were strong on the data enough to possibly change the picture to risk on, you could see it pre-data. A lot of people are watching the 2yr note auction in a little over an hour from now. Expected to be strong.
April 23, 2024 at 9:07 am
wfakhoury Amman
GOLD
2328.00 is the consolidation level.
2281.00 has been confirmed and will be reached if it stays below 2300.
Use level 2300 for the movement..above it will consolidate to 2328 below it will decline to 2281
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2328.00 Reached from 2300.
100% Guaranteed
EURUSD 1 HOUR CHART – DATA/NEWS DRIVEN MARKET
I am posting this chart to illustrate how hyper-sensitive the market is to any data that might change interest rate cut expectations.
The spike up on this chart came after the flash Ez PMI earlier.
This is why you need to be in touch with what news is coming out and the consensus forecasts.
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