EFMS TRADE

19.09.2024 - Key Global Topics 📈Good morning. Stocks rally after the Fed makes an outsized rate cut. The BOE is seen standing pat today. And a Bloomberg survey sees equities continuing to gain this year. 🇺🇸Stocks rallied after the Fed opted for an outsized rate cut to ensure a soft landing. The Nikkei 225 rose more than 2% as the yen slid. US and European futures pointed higher. Traders ramped up bets on further reductions, pricing in another 70 bps worth of cuts at this year’s two remaining meetings. But the Citi trader who boldly predicted yesterday’s rate call weeks ago isn’t sure big moves are ahead. 🇬🇧The BOE will probably hold its key rate at 5% today after last month’s cut. Andrew Bailey may hint toward a reduction in November, but he’s unlikely to endorse the view that a faster pace is needed. Turkey’s central bank is seen keeping rates at 50%. Severe rains in central Europe, Africa, Shanghai and the US Carolinas this week were caused by different meteorological phenomena, but the underlying factor is global warming writ large, scientists said. - Research has shown that hotter air is capable of carrying more moisture and is more likely to cause intense precipitation. And it’s not just the amount of rain that falls, but where it lands: The effects are not being felt equally. - At least 1,000 people have died in Africa, and millions of people have been displaced. In Europe, meanwhile, the toll is considerably lower, and officials have pledged vast sums of public funding. 🇺🇸US election: Kamala Harris leads Donald Trump 50% to 48% in a Fox News poll. She’s also ahead in Pennsylvania and Michigan, according to a Quinnipiac tally. Lebanon reported fresh explosions on walkie-talkies in Beirut and other areas, taking the two-day death toll to at least 26 people. Icom, a Japanese wireless equipment maker, said it couldn’t confirm reports that its devices were involved. Israel’s defense minister declared a “new phase” in the war and affirmed US support in a call with Lloyd Austin. Iran threatened retaliation after its ambassador was wounded.

19.09.2024 - Economic Calendar

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I am buying EURUSD ENTRY @ 1.11270 SL @ 1.11220 TP1 @ 1.11320 TP2 @ 1.11370 TP3 @ 1.11420 TP4 @ 1.11470

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Gold sell now @ 2577.60-2581.60 Sl: 2563.60 Tp: OPEN

Gold sell now

US100 H9 Of course here we are still situated with US100, coming very close to our entry yesterday, in fact pushing into that area of 600 price we have been discussing. We may approach this zone again today. Lets wait and see what unfolds, it should be an exciting day ahead of us. Lots of the schedule as shared previously.

US30 H8 We are trading higher here still on the likes of US30, but given the risk off headlines we have shared earlier, we would typically expect the US stock market to see a drop, whether we see this now, or weather we see this later on during stock market open, we must wait and see. We may not even witness it at all. That being said, we are still trading around ATH territory, and any excuse for a relief would make sense to me. Lets see what unfolds today!

EURUSD H8 The supporting analysis here for EURUSD, the closely mirrored version of GBPUSD. EURUSD sitting a little closer to our entry price and the active area of resistance and supply.

GBPUSD H8 Here is the play on GBPUSD, if you remember yesterday we were talking about this 1.31500 price holding as support. A lower timeframe obstacle we need to navigate, to continue our trend to the downside. We should see a bounce and maybe break south again during LON market open. We may come back up to that 1.322000 price again, if so, same trading principle applies.

DXY H8 Yet again, the dollar holds it's support for the second trading session of the week, lets see if it holds for a third. We are still banking on this zone as an area of support and we are still looking for shorts amongst EURUSD and GBPUSD pairs. Whilst we are preparing for dollar strength, we haven't really seen the surge we are expecting yet.