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After a good US non farm payroll on Friday, stock markets & Gold could head lower this week. - YouTube
Channel: Day Trade Ideas
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hey thanks for joining me it's monday the 4th of聽
april uh we had the non-farm payroll release out聽聽
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on friday slightly weaker than expected but a聽
strong revision to the previous month kind of聽聽
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neutralized that weakness week numb slightly聽
weak number so uh everything came out in line聽聽
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dollar had a little bit of a burst up then then聽
moved back uh to where it was trading before the聽聽
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number so the reaction really wasn't very uh very聽
important at all average hourly earnings was was聽聽
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worthy of note i think the expectation was five聽
3.5 number came in at three point six percent so聽聽
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basically all is well with the u with the聽
economy uh the u.s economy at the moment聽聽
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uh just chugging along nicely um what can i say聽
so a relatively quiet day in the financial markets聽聽
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actually as we waited for that number and then聽
the rear and then you know the number was pretty聽聽
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much in line what am i looking at now euro yen聽
so um well you've got the levels on the trading聽聽
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sheet you've got the levels in the um you know聽
in the spreadsheet as well in the reports as well聽聽
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eased off a bit last week as expected hit support聽
level and bounced could do the same again this聽聽
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week i think we're probably establishing a聽
sideways range range i think i talked about that聽聽
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last week long upper wicks here telling me that聽
when when the market does uh rally sellers come聽聽
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in of course we had the big red candle on when was聽
that thursday so anyway i think probably sideways聽聽
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action which means we worth buying uh trying聽
alongs at support levels and worth trying support聽聽
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uh trying shorts at resistance levels uh dolly聽
yen similar situation of course um eased off a聽聽
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bit last week as expected having a bounce back聽
now testing my resistance level at around 120聽聽
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260 we'll see if that holds so far it is uh聽
that would be nice yuri and also testing my聽聽
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resistance level actually where was my resistance聽
level let me just check my market on that one聽聽
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around 135 60 uh in the euro yen so we've eased聽
off a bit from there actually which is quite nice聽聽
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uh just go back to the euro and there we go we've聽
just eased off a little bit um okay dollar cad聽聽
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establishing a sideways range after we held a聽
very good support level we're also holding good聽聽
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resistance levels so i've basically kept the聽
same uh trade ideas for the dollar cad but uh聽聽
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probably more of a scalpers market now after we聽
rode that move to the or some of that moved to聽聽
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the downside anyway euro us dollar uh overran聽
the one eleven and a half resistance area a聽聽
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little bit last week but hopefully not too much uh聽
hopefully not um enough for you to be stopped out聽聽
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although admittedly i was i have to tell you聽
bearish engulfing candle looks quite negative聽聽
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this is probably a bear flag a break below聽
109 80 is probably a sell signal therefore聽聽
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but we could continue to trade sideways and i聽
still see resistance around that 111 and a half聽聽
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area gold gold is easing i'd expected it to ease聽
i had resistance around the 135 and 1935 1940 area聽聽
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seems to have held as long as we hold below 1950 i聽
see moves to the downside we've still got that big聽聽
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double top negative double top pattern which聽
certainly worries me it should worry the bulls聽聽
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there is a risk i think there's risks to the聽
downside in gold and i do indeed also think聽聽
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there are risks to the downside in stock markets聽
i really can't believe that stock markets are聽聽
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ignoring the fact that inflation is going through聽
the roof interest rates must rise significantly uh聽聽
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but so far they don't seem to be too concerned聽
well i am um the resistance resistance level聽聽
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did work well in the nasdaq last week i would聽
expect it to do so again this week i'd love to聽聽
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see another bounce back i took my profits on聽
friday before the weekend just to be sensible聽聽
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i'd like to see a bounce back in the stock markets聽
i'd like to see a retest of last week's highs聽聽
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put in a double top and then a more significant聽
move to the downside i don't know whether that聽聽
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will happen but it's a theory and we certainly聽
don't look like we're collapsing at the moment so聽聽
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who knows we might have one last burst up retest聽
last week's highs as i say nice double top pattern聽聽
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for a potential sell signal that would work for me聽
um so germany yeah again the germany the germany聽聽
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40 we had that we tested the resistance levels聽
around the high 14 000 area and reversed let's聽聽
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see if we retest them again but ultimately i think聽
these stock markets have to start heading lower聽聽
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again after such a great recovery seems to be聽
completely ignoring the war in in the ukraine now聽聽
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uh markets don't seem to be interested in聽
that at all okay i can't really say an awful聽聽
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lot more because we really are mostly trading聽
sideways in these markets so it's a case of聽聽
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buying at good support levels selling at good聽
resistance levels and trying to scalp the market聽聽
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i don't really see too many swing聽
trade opportunities at the moment聽聽
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good luck if you're uh having if you're trading聽
the financial markets today join me again tomorrow
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