Russia invades Ukraine, and we covered the ripple effects in the markets during this morning’s New York live session.
We are bullish on the DXY. The daily time frame has reacted with abnormal, but expected, price action in response to news being dominated with headlines that Russia invades Ukraine. We expected price to trade to the imbalance, but it’s gone past the ( members only ) range. Price should take out ( members only ), then draw up to ( members only ) level.
EURUSD did trade to the expected equal low of ( members only ), then beyond. The immediate target would be ( members only ), with ( members only ) as the next downside objective. Please note that this is not a buying market at the moment as Russia invades Ukraine.
We’re expecting a continuation to the downside on GBPUSD. We saw price retracing on the 15M timeframe, and went short at ( members only ) with stop loss at ( members only ), and targeted the low. Remember, any retracement is subject to sell, but we do expect more liquidity below the ( members only ) level. If you want to attempt a risk to sell short, be sure to catch the replay of the live session in the portal for full details to help you determine if that is the right move for you.
NZDUSD has confirmed a swing high on the daily, and price is expected to drop to ( members only ), then to the equal low of ( members only ). We outlined a couple of potential sells in the live session – be sure to watch the replay for details.
AUDUSD is expected to drop. There is no decent level to enter short – look at ( members only ) as the draw.
EURGBP went for our stops this morning, but the setup is still valid, so we sent out confirmation that we would go back in, with stop loss at today’s low. Full details can be found in the trade idea inside the portal, including targets for taking partials.
For USDCAD, our targets to the upside are ( members only ) and ( members only ) and then ( members only ). If price retraces, then we like the ( members only ) gap for entry.
We are bullish on USOIL. We stated yesterday that once price started to retrace from the 93.95 candle that we would be buying OTE, and our trade went straight to TP without taking partials. Back in June we made a call that USOIL would go to 100… some members thought that didn’t seem realistic at the time, but we’ve now hit that target, just as we as predicted. We are now setting our sights on 125. To see what our Smart Money Trader sees, watch the replay session where he reviewed the charts in detail.
GOLD had no pullback and reached an equal high at ( members only ). GOLD is currently overbought, so we aren’t doing anything at the moment. If you are bullish, or if you have bought, we suggest that you take most of your position off and only leave a small amount active.
BTC is expected to drop down to the ( members only ) gap. The ultimate Smart Money target for BTC is ( members only ), so we recommend that traders look for selling ideas to continue going lower.
For ETH, we outlined 3 draws on liquidity at ( members only ) and ( members only ). The easiest, lowest hanging fruit would be to enter at ( members only ), with stop loss at ( members only ) and TP at ( members only ). After that, we would be looking for lower prices.
As the world scours the internet for updates on the situation while Russia invades Ukraine, we will continue to provide actionable market insights into how to successfully navigate these tense market conditions.
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