Market Analysis

&
Trade Setups 9th Oct-13th Oct
DXY
The U.S. dollar eased against a basket of currencies on Friday, as investors assessed Friday's jobs report
that showed U.S. hiring rose broadly in September but also that wage growth is slowing. Nonfarm
payrolls increased by 336,000 jobs last month, the Labor Department said, while data for August was
revised higher to show 227,000 jobs were added instead of the previously reported 187,000.

Technically the market is still in uptrend and market structure is still intact. But on the weekly chart
market is facing resistance on the resistance from Fibo 0.50. So next week will be important. For trend
reversal DXY needs to move below 105.70 & 105.

I believe market may go sideways for next few days and then market will take a particular trend again.
GOLD
We didn't get the move we wanted but still got a little upside. But gold is still inside the range only.
Day traders can look for a sell if market reverses from the resistance. Because in a rangebound market
Buy at support [1812-15 & sell at resistance [1832-33] is the only trading strategy you should follow. If
market breaks 1835, let it settle and then go long if you are looking for a fresh entry.

If market breaks the support, the next support zone of 1803-05 is back on the scene for a bounce
because market is receiving support the Fibo & 200MA on the weekly chart.

EURUSD
Market structure is slowly
changing and market is
slowly forming Higher lows
which is a positive sign for
trend reversal. If you have a
buy position, be on the trade.
Day traders can look for a
fresh buy above 1.0620 if
market breaks the high.
Scalpers can look for a quick
sell if market fails to break
the resistance due to low
volume on Monday. If EU
comes for retracement from
the current level, we can look
for a bounce around 1.0550-
30.

Swing traders can look for a buy above the high of 1.0620 or retracement around 1.0550-30 or 1.0490-
1.0500
GBPUSD
Similar to EURUSD, market structure is changing here too. Market forming a higher low indicating a
possible trend reversal in the coming days. Market closed at the previous high [resistance] & also
100MA. If market breaks 1.2275 and sustains above it for few hours, we can look for a buy position.

On the other hand, if market comes down with low volatility, we can consider it as a retracement and
look for a buy around 1.2200-1.2175 [Fibo]

NAS 100
The Bullish flag on the weekly chart is valid and higher timeframe market is still inside the flag. If
market remains slow on Monday, day traders can look for a quick sell aroun the 200MA [around
15075-15100. After the market opening if market comes for retracement with low volatility, the
previous high of 14900 will act as support and day traders can look for a buy around there too.

Market is choppy. Be careful with your spikes.

USDJPY
The Bank of Japan (BoJ) at their most recent Central Bank meeting kept rates steady and signalled no
rush to tighten policy. This was largely expected and something I expect to persist in Q4 but the threat
of FX intervention remains very much on the table. So far Japanese officials have used comments to
help support the Yen but former BoJ members have earmarked the 150.00 level as the level for actual
FX intervention.

If market breaks the previous high of 150.15, then we can next intervention of BoJ around 152 again
and a sharp drop may come. If market shows softness, we can look for a good bounce around the
200MA [around 147.70-148]

AUDUSD
We have strong weekly pivot support around 0.6300-0.6285. Next week, if market test and bounce,
we can look for a buy.
CADJPY
If the CADJPY comes for retracement, we have good weekly support around 107-106.75. If market test
and bounce, we can look for a buy in coming days. A big bounce

CHFJPY
Market failed to break the weekly resistance of 166.90 for more than a month and market is going up
to test again. If market fail and reverses, it can be a good selling opportunity for few hundred pips.

Overall, the chart is in uptrend, If the buying power is strong, avoid

EURNZD
We have a strong weekly and dynamic support around 1.7410. If market takes support, we can look
for a Buy

GBPCHF
Since Nov’22 market is taking support around 1.1050. Taking support too many times is not a good
sign. High chance of Stop loss hunting because of liquidity below this level.

If market breaks the level, we can look for a sell below it.
AUDCAD
Overall the chart is still in downtrend and the swing highs around 0.8815-25 showed strong price
rejections. So we can look for reversal around the area and go for a sell

GBPCAD
Our Fibo setup is doing a fine job and day traders can look for a quick sell around 1.6230-40 [Fibo 0.5
+ 200MA]. If market show price rejection from above, day traders can sell
Points to Remember:
➢ Market may remain sideways & choppy on Monday
due to holidays.

➢ If market remains dull/ slow on Monday, avoid

Breakout & Breakdown trades. Because without
volume it may fail

➢ There is no 100% guaranteed trade. So, always follow

risk management