The commodity had a nice bounce Friday morning

S&P 500 (Dec 12) INTRADAY Review It was a challenging session on Friday as the Payrolls report generated a lot of market activity much of which contradicted the very good news regarding the US Labour market. We had a long entry level at 1418.25 and we missed out on this level pre-NFP by 8 ticks as the index bottomed out at 1420.25 before ramping higher off the better than expected jobs growth. However, the upside was short lived and after a small positive trade off the 50% fib of the

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The commodity had a nice bounce Friday morning

AUDUSD Three Inside Up Hourly Chart

XAUUSD Hanging Man Hourly Chart Resistance: 1696.75 minor/1705.17 minor/1710.06 moderate Support: well below forecasted values The Hourly XAUUSD chart has a low level bearish pattern, Hanging Man. Though we are in a bear market price action is already overextended. New positions should be avoided while open sells should have their stops tightened to just above the pattern high.

An eventful week

Review: The US job report turned out to be significantly better than expected. Nonfarm payrolls came out at 171,000 while 125,000 had been expected. In the market, USD increased against practically all other currencies, which is a natural reaction to such a strong announcement. Now the big question is what will happen to USD this week. The week as a whole will offer many macro-economic and political events, which may affect the financial market. On the whole, there is a strong likelihood that

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An eventful week

AUDUSD Bullish Harami Hourly Chart

Resistance: 1.0367 moderate/1.0388 strong/1.0422 moderate Support: 1.0333 minor/1.0312 minor We have a low level bullish reversal pattern in Hourly AUDUSD charts, Bullish Harami. Look for a possible technical correction. Consider buys if the pattern is confirmned with stops ideally under 1.0333. The immediate objective will be a push for 1.0367 break of which opens us to a reversal for a move to the 1.0388, the daily Pivot Point. Learn more about the chart patterns and how to recognize them in

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AUDUSD Bullish Harami Hourly Chart