The Bank of England lets us know that the supply chain problem squeeze on inflation “should be temporary”, but will have to act if inflation reaches wages. Alongside a prediction for a strong Q4 from the Fed, Wells Fargo is calling for a +600k for NFP next Friday, December 3rd, 2021. This supports a continuation for a rising Dollar scenario.
We have a ( members only ) for WTIUSD, but wait until tomorrow’s London session before looking to enter, since today is Thanksgiving. Do not enter today as its holiday.
The DXY price is rejecting the ( members only ) range we found on the 4H. We are experiencing another day of accumulation but the push to the upside is not done yet!
With EURUSD, we hit our target from yesterday at ( members only ), and expect another day of distribution. We expect price to keep going lower and have marked the ( members only ) range.
The ( members only ) level is still on our radar for GBPUSD, eventually to ( members only )
If DXY continues to go higher we expect the low of ( members only ) to be take out, and we are bearish on NZDUSD.
For AUDUSD we are expecting the ( members only ) to be filled.
In the world of crypto, we closed out all our levered long trades on ETH, SOL and MANA. Decentraland (MANA) has done exceptionally well and has gone up 5X in just 1 month. It was trading at under $1 late October and is now trading over $5. We caught a nice move from $4.28 and took profit at $4.95 and $5.23 for a nice chunk of profit!
We continue to wait for the US Treasury Report, set for Fridays release. NFP is on our radar for next Friday, and we anticipate more bullish USD sentiment.
And there’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.
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