Let’s get started…
- Scan Of The Markets
- Trending Markets On My Radar
- Hot Trade Of The Day
- Insights Into Market Flows (Video)
- Recent Economic Indicators
- Educational Material
Scan Of The Markets
The indices show the performance of a particular currency vs G8 FX. A video on how to interpret these indices can be found in the Global Prime’s Research section.
The market swiftly transitioned from ‘risk on’ vibes dominating proceedings for most of Monday to an abrupt change of heart, leading to the erosion of gains in the commodity-linked currencies and US equity indices in favor of the Japanese Yen and the US Dollar.
It all started to snowball when California announced that they would be re-closing bars, restaurants, and other activities, including church attendance. To make matters worse, the Los Angeles Unified School District said the scholar year would begin online.
But the big winner for the day was indisputably the Euro, miles away from a revived US Dollar, the second best performer. The CAD, AUD, CHF saw similar performances in the last 24h, while on the bottom of the board, we find a battered GBP, unable to keep up the recent gains. The NZD fell precipitately from its highs and the JPY, while it recouped a portion of its losses, still ended printing broad losses.
Trending Markets On My Radar
In this section I short-list the markets where a case can be made to engage on a directional trend off higher timeframes, including the 4h and daily time scales. These are the markets included in my video analysis in the insights section below.
Hot Trade Of The Day
In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook.
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Insights Into Market Flows
In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.
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Recent Economic Indicators & Events Ahead
Source: Forexfactory
If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!
Important Footnotes
MARKET STRUCTURES
Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to the tutorial How To Read Market Structures In Forex.
SMART MONEY TRACKER
In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.
SUPPORT & RESISTANCE
Unlike levels of dynamic support or resistance or more subjective measurements such as fibonacci retracements, pivot points, trendlines, or other forms of reactive areas, horizontal areas of support and resistance are universal concepts used by the majority of market participants. It, therefore, makes the areas the most widely followed. The Ultimate Guide To Identify Areas Of High Interest.
FUNDAMENTALS
It’s important to highlight that the daily market outlook provided in this report is subject to the impact of the fundamental news. Any unexpected news may cause the price to behave erratically in the short term. Monitor the event risks via Forexfactory.com & refer to Fundamentals vs Technicals In Forex.
PROJECTION TARGETS
The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
