IvanGlobalPrime
Company Representative
- Messages
- 36
Find my latest market thoughts
The British Pound made a statement of fortitude through Tuesday, ascending to the top of the leader board. The price of Gold was the only asset I monitor in my daily analysis able to keep up. The rest of currencies meandered without a discernable bias as the market appeared to consolidate the strong gains after the vigorous risk appetite wave following the positive vaccine news by Pfizer.
Let’s get started…
To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.
The British Pound made a statement of fortitude on Tuesday, ascending to the top of the leaderboard. The price of Gold was the only asset I monitor in my daily analysis that was able to keep up. The rest of currencies meandered without a discernible bias as the market appeared to consolidate the strong gains on the back of the vigorous risk appetite wave in response to the positive vaccine news by Pfizer.
The moment Pfizer shared the news with the world the other day, the market has shown a strong interest to bid up risky assets (AUD, NZD, CAD) and sell-off the ones considered the safest, such as Bonds, Gold, JPY, CHF. Besides, the outflows in the tech Nasdaq is another ‘telling’ sign of such a notion.
By announcing the news, Pfizer created a macro narrative which made the market gain confidence. And likely impacted global growth in 2021. The news that Pfizer announced, and most importantly, how the market reacted, resonates with my concept – the news created an environment with risk-friendly conditions.
There is no way around what price action portrays via the FX indices. It is the ultimate indicator of where we are at. Analysing the graph above, we can clearly identify a distinctive difference in performance.
On one hand, we have the currencies associated to risk-off conditions such as the USD, JPY, CHF, all firmly bearish as per the momentum measured via the SMT (Smart Money Tracker) indicator. Besides, the order flow has been decisively bearish as the OFA script depicts.
On the other hand, the AUD, NZD, GBP are the 3 currencies reigning in the Forex market at the moment. The CAD follows at a fair distance behind, while the EUR keeps treading water at an index level, even if the preponderance of technical evidence is overall bearish.
In this video analysis I dissect the hot trade of the day. A fully-fledged trading course, including lessons on how to trade this pattern, will soon be available via Global Prime Trading Academy website. While the video is intended as educational and not financial advice, it portrays the power of trading the pattern the right way.
If you found our content valuable, give us a share by just clicking here!
Source: Forexfactory
If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video. The indicator allows you to save time and avoid mistakes.
Currencies consolidate vaccine-led rallies
The British Pound made a statement of fortitude through Tuesday, ascending to the top of the leader board. The price of Gold was the only asset I monitor in my daily analysis able to keep up. The rest of currencies meandered without a discernable bias as the market appeared to consolidate the strong gains after the vigorous risk appetite wave following the positive vaccine news by Pfizer.
Let’s get started…
- Scan Of The Markets
- Hot Trade Of The Day
- Insights Into Market Studies (Video)
- Recent Economic Indicators
- Educational Material
Scan of the markets
To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.
The British Pound made a statement of fortitude on Tuesday, ascending to the top of the leaderboard. The price of Gold was the only asset I monitor in my daily analysis that was able to keep up. The rest of currencies meandered without a discernible bias as the market appeared to consolidate the strong gains on the back of the vigorous risk appetite wave in response to the positive vaccine news by Pfizer.
Macro risk appetite
In yesterday’s article, I argued that Pfizer type news can have serious repercussions on market trading psychology. The moment the market buys into the notion that the real solution is here, could be that inflection point.The moment Pfizer shared the news with the world the other day, the market has shown a strong interest to bid up risky assets (AUD, NZD, CAD) and sell-off the ones considered the safest, such as Bonds, Gold, JPY, CHF. Besides, the outflows in the tech Nasdaq is another ‘telling’ sign of such a notion.
By announcing the news, Pfizer created a macro narrative which made the market gain confidence. And likely impacted global growth in 2021. The news that Pfizer announced, and most importantly, how the market reacted, resonates with my concept – the news created an environment with risk-friendly conditions.
G8 Forex indices – performance
There is no way around what price action portrays via the FX indices. It is the ultimate indicator of where we are at. Analysing the graph above, we can clearly identify a distinctive difference in performance.
On one hand, we have the currencies associated to risk-off conditions such as the USD, JPY, CHF, all firmly bearish as per the momentum measured via the SMT (Smart Money Tracker) indicator. Besides, the order flow has been decisively bearish as the OFA script depicts.
On the other hand, the AUD, NZD, GBP are the 3 currencies reigning in the Forex market at the moment. The CAD follows at a fair distance behind, while the EUR keeps treading water at an index level, even if the preponderance of technical evidence is overall bearish.
Hot trade of the day
To see an expanded version, right-click and select ‘open link in new tab‘. In this section, I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength, based on the higher timeframes outlook. My video analysis below, elaborates further on the logic behind the trade.In this video analysis I dissect the hot trade of the day. A fully-fledged trading course, including lessons on how to trade this pattern, will soon be available via Global Prime Trading Academy website. While the video is intended as educational and not financial advice, it portrays the power of trading the pattern the right way.
If you found our content valuable, give us a share by just clicking here!
Recent economic indicators & events ahead
Source: Forexfactory
If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video. The indicator allows you to save time and avoid mistakes.