Greg’s Daily Insider Tips W/C 4th March 2019

Friday 8 March 2019

Our AUDJPY and CADJPY short opportunities have matured into profit and market participants will decide whether to take profit or let the positions run throughout the weekend. As always the most effective approach is to pay ourselves as soon as the market pays us and leave a portion of the capital in case price extends further. Any retrace from the lows resulting in lower highs on these pairs will most likely invite more sellers to the table

With no clear technicals on the horizon for the last day of the trading week we will be monitoring the US NFP and Unemployment data releases to assess our stance on the USD for next week based on investor reaction.

https://uk.reuters.com/article/us-global-oil/oil-prices-slide-as-economic-outlook-darkens-u-s-supply-surges-idUKKCN1QP03Z

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Thursday 7 March 2019

Yesterday’s Bank Of Canada rate statement and decision of no rate change, alongside a falling Ivey PMI, weakened the CAD as expected and added to our already profitable CADJPY short. Since price has extended below the daily 50 EMA traders can either manage their position by waiting for new lows or take profit and look for the next lower high for re-entry.
The AUDJPY retraced overnight in the Asian session setting the stage for a lower highs and a possible short entry. That said, the JPY halted it’s strength and in case of a downside momentum the AUD weakness would take over.

The main event for today is the ECB meeting in which the Central Bank is expected to cut it’s growth outlook which could open up the doors for new stimulus despite the Bank ending its QE programme only in December.

Later on the Japanese economy will see its GDP y/y and q/q figures. For this reason, our pair to watch, is the EURJPY namely a possible long opportunity in case of renewed Yen weakness.

https://uk.reuters.com/article/us-global-markets/asia-shares-sluggish-as-global-growth-concerns-return-ecb-meeting-eyed-idUKKCN1QO04M

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Wednesday 6 March 2019

Our CADJPY anticipation of downside momentum is fulfilling our expectations with price action breaking below its 2 month trend line. The Yen is somewhat powering up as expected and AUD GDP q/q data overnight disappointed market participants by not only missing the positive forecast but posting a lower number than previously. This sent the AUD tumbling and our eye will be on AUDJPY for a possible short.
Today’s BoC Interest rate decision, alongside crude oil figures, will prompt CAD traders to actively manage their position; hence higher volatility is expected.

https://uk.reuters.com/article/uk-global-markets/china-stocks-rally-on-stimulus-hopes-weak-gdp-growth-hits-aussie-idUKKCN1QN02I?il=0

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Tuesday 5 March 2019

Overnight the RBA held onto rates as expected despite economic risks and Chinese slow down. The AUD pairs failed to form any structure that investors could take advantage of. That said, we’ll be monitoring Yen pairs for their strength in relation to AUD and even CAD as well as checking the EUR in case of a decline due to Euro area PMI figures. Later in the session the ISM Non Manufacturing PMI could spur some volatility throughout USD pairs and for this we’ll be looking to see if our GBPUSD finds clear support.

https://uk.reuters.com/article/uk-global-markets/asian-shares-slip-china-targets-slower-growth-idUKKCN1QM03E

 

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Monday 4 March 2019

The main fundamentals event this week is the US NFP and employment numbers. However, that’s due right at the end of the week which is why we’re moving away from the USD slightly until it gives us more clarity.
Today we’re watching the Yen pairs to deduce whether the Yen is weakening further or has some strength to show for. In case the Yen shows strength we’ll be ready for one or two of the following pairs including the AUDJPY, NZDJPY, CADJPY. Elsewhere we’ll watch the AUDNZD cross for a possible upside break due to price squeezing at the lower end of support.

https://uk.reuters.com/article/us-global-oil/oil-rises-on-u-s-china-trade-deal-hopes-opecs-ongoing-supply-cuts-idUKKCN1QL01O

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