Morning traders, it'... dari Smart Jet

Morning traders, it's an exciting day with PCE and Powell's speech at the Jackson Hole symposium which both have the potential to be market movers The communication from the FED recently has been quite hawkish, if Powell keeps the hawkish tune then we get another leg of USD strength, if not we just get a temporary pullback, what do we think? Powell has his chance to correct some of the dovish market pricings that have run too far too fast, it's not in the FED's interest for the markets' to expect rate cuts as soon as next year thus he should correct those expectations with some hawkish comments, just hawkish enough to keep the Dollar trend intact, but obviously, we stay open minded and adaptive to other scenarios too

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Morning traders, haven't pulled the trigger on GBPUSD shorts yet nor any other Dollar long, probably I'm being a bit too prudent but I feel the timing and market structure is not as good as it should for USD longs yet, arguably the market is also lacking catalysts to get a clear direction, GDP today is unlikely to be much of a market mover but PCE tomorrow without a doubt, I keep monitoring for an entry, also keeping in mind it's month end so we could see some random month end flows over the next two days, in other words, keeping it cautious, we have a fundamentally packed week next week with the FOMC and ECB rate decisions so no need to rush into trades right now Other than that, still standing ready to take profit on the BTC longs, if I see price above 30k I will be VERY tempted to do so, will send out a full email note with more details on why we are taking profit when we do so

Smart Jet

Morning traders, with the CPI everywhere I look I see notes about the likelihood of a strong print, Goldmans is also expecting a number a tiny bit above expectations so we are geared in that direction but obviously when the consensus is geared one way the risk is that the number doesn't meet the already high expectations triggering an unwind of positions So, even if the likelihood is USD strength we don't want to get into the event too long the Dollar, meaning that we will likely adjust the recently added AUDUSD short before the CPI later, then once we see the numbers and the price action around it we can start looking at some medium term direction across the board

Smart Jet

Morning traders, today I'm looking at EURUSD to possibly jump into shorts from the top of the technical range near 1.10800, setting an alert there and will look at lower timeframe price action to confirm, we want to be careful with USD longs ahead of the CPI but not too careful that we miss the entry, 1.10800 is a decent resistance that we don't want to hesitate too much to short so let's see what we see when price gets there Will be back with the latest from Goldmans in a minute to see what they are up to this week

Smart Jet