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In today’s session Wayne reviews an Options position which was setup on Friday as part of the "Yellow Brick Road" Long Term Investment strategy. Wayne assesses the current market environment to manage the position, closing out for a profit during the session. Wayne plans out a further trade opportunity, setting up an Iron Condor in order to capitalise on price staying in a range on the ES. He then combines this with the E micro’s for added protection should the markets move considerably beyond the Strikes.

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EUR/USD: Below 10/21-day SMA inside triangle

Having stepped back from the near-term key SMAs, EUR/USD register mild gains to 1.0860 during Thursday’s Asian session. EUR/USD fails to extend the previous losses below key short-term SMA confluence. Triangle formation signal near-term range, bearish MACD favor pullback moves.


USD/JPY holds in neutral territory awaiting Fed's Powell

USD/JPY has been holding in consolidation and ranged sideways between 108.60 and 109.10 overnight. Fed's Powell and US jobs will be the final scheduled catalysts for the holiday-shortened week.


GBP/USD extends advance beyond 1.24 amid optimism about Johnson

GBP/USD is trading at weekly highs above 1.24, buoyed by reports that UK PM Johnson is breathing on his own. The market mood is calm amid hopes of turning a corner on coronavirus.


Gold is consolidated in the $1640s in wind-down markets ahead of Fed's Powell

The markets are quieter in Asia following a strong performance on Wall Street with US stocks bouncing back from the prior session's lows. Gold has moved into consolidation between $1,647.60 and $1,650.

Gold News

WTI: On the front foot above weekly resistance-turned-support

WTI nears the weekly top after breaking the short-term resistance line, now support. A sustained run-up could aim to fill the March month’s gap. 50% Fibonacci retracement, 200-HMA restrict near-term declines.

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