High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

Just posted my first thread on trading discussion for my futures. If interest heres the link: https://www.forexfactory.com/showthr...1#post10392901
Laters

Quick Market Preview from a Tremendous Trader/Head Coach @ Trade Empowered - Mr. Akil Stokes




Note: Monday's Trading is really slow.... Watch this video if you have time.

Current Market Condition/Sentiment: (CsDash Update)

AUD/NZD - Trend: Bearish(H4TF) - Bearish Divergence(H4TF)

CAD/JPY – Trend: Bullish(H4TF) – Bullish Divergence(H4TF)

EUR/NZD – Trend: Bearish(H4TF) – Bearish Divergence(H4TF)*

GBP/AUD – Trend: Bearish(H4TF) – Bearish Divergence(H4TF)

GBP/CAD – Trend: Bearish(H4TF) – Bearish Divergence(H4TF)

Attached Image (click to enlarge)

GBP/CHF – Trend: Bearish(H4TF) – Bearish Divergence(H4TF)

Attached Image (click to enlarge)

GBP/NZD – Trend: Bearish(H4TF) – Bearish Divergence(H4TF)

NZD/USD – Trend: Bullish(H4TF) – Bullish Divergence(H4TF)

USD/CAD - Trend: Bearish(H4TF) – Bearish Divergence(H4TF)

Attached Image (click to enlarge)

USD/JPY – Trend: Bullish(H4TF) – Bearish Divergence(H4TF)*

A Quick Recap of Last Week:

Jay Powell has been nominated to be the next Chair of the Fed.

Trump, troubled with developments in the Mueller investigation preferred an insider at the Fed which is
set to continue the current policy and not John Taylor, a known hawk. The current Fed Chair Janet Yellen
oversaw one of her last rate decisions and did not rock the boat.
The FOMC statement expressed satisfaction about growth but said that inflation is soft. Nevertheless,
they are set to raise rates in December.

The BOE sure made markets move with a “dovish hike“. After the expected rate rise, Carney, and co.
forecast only two hikes in three years and this sent the pound tumbling down.

The crisis in Catalonia is far from a resolution but the euro ignores it. What’s next?

Key Upcoming News Events (Updates):


FOMC’s Dudley Talks: The President of the New York Fed is a permanent voter and this speech in
New York will be an opportunity to react to the nomination of Powell as Fed Chair, as well as the Fed’s
classification of inflation as “soft” rather than transitory.


Australian Rate Decision: The Reserve Bank of Australia recently made some dovish voices and opened
the door to rate cut, albeit not in the near future. Since then, the inflation report came out below expectations
and weighed heavily on the Aussie dollar. Will they send a more dovish message? Or are they pleased with the
downfall of the A$?


US JOLTS Job Openings: Just after the Non-Farm Payrolls report, we get a belated, yet meaningful figure for
the Fed. The number of job openings and quits serves as a gauge of the wider jobs market. Back in August,
the number of opening stood at 6.08 million, maintaining the high ground above 6 million. A similar figure is
likely now: 5.98 million.


New Zealand Rate Decision: One week after the jobs report and as the kiwi dollar looks weak, the Reserve
Bank of New Zealand convenes to discuss its policy. The interest rate stands at 1.75% since late 2016, when
it was last reduced. The big downfall of the exchange rate should keep the acting governor Grant Spence and
his team happy and they are unlikely to cut interest rates. The new Labour-led government is expected to
change the mandate of the RBNZ, and this point will also feature.


US Jobless Claims: The weekly barometer of the jobs market returned to normality after long weeks of distorted
data due to the Hurricanes. The publication is usually overshadowed by other events, but this week it gets a bigger
share of the limelight. A small rise from 229K to 231K is on the cards.


US Consumer Confidence: The University of Michigan Consumer Confidence measure topped the 100 level after
a few months beneath it. Will this continue? In theory, higher Consumer Confidence implies enhanced consumer
spending. A score of 101 is projected.

Sunday, November 5th 2017 @ 10:05pmCST

Current Market Condition/Sentiment: (CsDash Update )