Slow Wednesday Morning Briefing
Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.
Except for the Yen it’s pretty slow out there this morning. The EUR/JPY cross is facing a sharply falling 25-h and an hourly NLBL right now. I’m currently short but would be long above 129.5.
The GBP/JPY benefitted from the British quarterly inflation report but after a sharp spike higher it fell apart at the 100-hour SMA. I’m currently seeing the possibility of an hourly RTV-Sell but it would have to trigger before 9:00am EDT.
By the way – unless your system enjoys volatility be out of any discretionary AUD or JPY related trades by tonight. Otherwise your stops may be touched during the BOJ interest rate decision or the Ozzi employment rate report. Judging by the Convict’s absence we can expect it to underwhelm 😉
Sugar – back kissing its 25-hour again. It’s been observing it nicely as of late, so let’s see if that downward trend continues.
It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.