“Those who cannot change their minds cannot change anything” -George Bernard Shaw
Going into FOMC and the end of the week, focus is going to be on if markets can hold the bounce and close the week strong.
Recent moves have been pretty impressive, especially if you look at them in the context of the price action we saw in October. We have essentially gone back to the usual low volume ramps fueled by the usual suspects in the FAANG+ club. However, this still does not change the fact that, under the surface, fundamentals, data and guidance continues to deteriorate.
As already discussed, as far as the bulls are concerned, October lows mark the bottom of the recent correction and the start of the end of year Christmas rally and as far as the bears are concerned, the velocity and context of the corrections we saw in February and October points to the fact that something is broken under the hood at that we are in the process of starting a much bigger correction.
We will review recent moves and our outlook going forwards in the webinar today and will focus on manage current swing trades in aussie, kiwi and euro in the video update.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.