GAFNN.com Blog

The EURUSD was continuing the retrace move to the downside from the explosive uptrend that occurred after FOMC on Thursday and Friday of last week. The Long Term Profiles Yearly and Quarterly provided clear and precise resistance levels, which started the retrace on Sunday Night and it continued into late afternoon today.

Within GAFNN Live Forex Room we took advantage of the sell signals that were being generated by the weekly and daily profiles, and being supported by the Monthly Profile as it already transitioned into a retrace phase after making a bullish breakout on the month.

The EURUSD had traded below the Zone-Trader Pivot or Point of Control on the Weekly Profile, which the price of that level was 1.31270 and the cross rate was at that point attempting to make a bearish breakout on the week. This Told us to continue looking for short-term sell signals on the Daily profile and look for price to push lower towards the midpoint between MS1 and MS2 and possibly lower.

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THE NON FARM PAYROLLS CAME OUT WORSE THEN EXPECTED THIS AM. THE CONSENSUS WAS 170K THE ACTUAL WAS 115K. WE LOOK FOR A DEVIATION OF 35K ABOVE OR BELOW THE CONSENSUS. IN THIS CASE THE NUMBER CAME OUT MORE THEN 35K BELOW THE CONSENSUS AND WE THEN EXPECT HEAVY SELLING IN THIS MARKET. LOOK FOR CONTINUE SELLING NEXT WEEK WITH DOWNSIDE TARGETS AT 1340.75, 1315.25 AND 1296.00.

ISM non manufacturing came out today worse then expected. The ESM12 has now broken below the Zone-Trader pivot on the weekly profile at 1396.00. Look for sells in this price area with a target at the 1387.00 price area.

THE ES REMAINS STUCK INSIDE THE PERSISTENCE ZONE ON THE WEEKLY PROFILE TOP AT 1408.25 AND BOTTOM IS AT 1387.50. BULLS AND BEARS ARE FIGHTING FOR CONTROL OF THE MARKET ON THE WEEK AND IT SHOULD REMAIN EXTREMELY VOLATILE. A NEW MONTHLY PROFILE IS FORMING CURRENTLY UNTIL IT COMPLETES AND PLOTS THE NEW LEVELS WE HAVE TO FOCUS 0N THE CURRENT ZT PIVOT ON THE MONTHLY AT 1393.00 TO LEARN MORE ABOUT THE METHOD TUNE INTO TODAY'S WEBINAR AT 1:30 PM PST OFFERED THROUGH TRADERS KINGDOM.
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