On December 6, 2024, the U.S. labor market exhibited a robust recovery, adding 227,000 jobs in November. This significant rebound followed October's modest increase of 36,000 jobs, which had been dampened by hurricanes and a major strike at Boeing. Financial Times Despite the strong job growth, the unemployment rate edged up to 4.2% from the previous month's 4.1%, indicating a slight expansion in the labor force. Wage growth remained solid, with average hourly earnings rising by 0.4% month-over-month and 4% year-over-year, reflecting sustained demand for labor. New York Post Financial markets responded to these developments with measured optimism. The S&P 500 and Nasdaq Composite reached new record highs, while the Dow Jones Industrial Average experienced a slight decline. The U.S. Dollar Index (DXY) increased by 0.25% to 105.9810, indicating a strengthening dollar. Trading Economics The Federal Reserve is closely monitoring these labor market indicators as it approaches its December 17-18 meeting. The solid job growth, coupled with a modest uptick in unemployment, suggests that the labor market is expanding without significant inflationary pressures. This scenario provides the Fed with the flexibility to consider a potential interest rate cut, aiming to support economic growth while keeping inflation in check. Reuters In summary, the latest labor market data portrays a resilient U.S. economy, with strong job creation and controlled wage growth. These factors contribute to a favorable environment for the U.S. dollar, as investors anticipate the Federal Reserve's forthcoming monetary policy decisions.
20SMA - Blue 200SMA - Pink Key Confluence Areas - Grey Lines Market Structure Support/Resistance - Green/Red Dashed Lines Dear Friends: If you find my analysis helpful, please boost and follow me for future analysis at your service. How I see it: Can 1W support hold for a reversal? A break and hold above 0.64405 could signal a short-term reversal. A break and hold below 1W support could trigger a further decline. Keynote! Overall, this pair is still extremely bearish. We need a STRONG QUALITY GREEN MOVE(s) to signal intent otherwise. I deeply appreciate you taking the time to study my analysis and point of view.
I will wait the market to entre into the demand zone and then look for a buy setup
The Dollar Index is bearish on the daily, within the valid daily countertrend. The H4 long countertrend is also valid, and since in this trend, there is no space to trade, I'm waiting for the market to turn south in the direction of the daily short trend. My trigger is at the H4 breakout. Once this level is broken, I'm in to ride the wave down to the daily breakout (blue) and maybe to the weekly breakout (purple). The correction fibo is drawn with thin black dashed lines, and 38.2 is pretty much in line with the daily breakout, therefore, a nice target. Going for the correction fibo 50 is a bit more risky, and there is the weekly breakout along the way. Stay Patient, Stay Disciplined! ??♂️ And feel free to express your opinion in the comments! ?
https://www.tradingview.com/x/bydDUU8q/ SPY - Classic bearish formation - Our team expects pullback SUGGESTED TRADE: Swing Trade Short SPY Entry - 607.88 Sl - 614.52 Tp - 596.72 Our Risk - 1% Start protection of your profits from lower levels ❤️ Please, support our work with like & comment! ❤️
Looking at a setup for a nice rise from $52 to my target of $58. $58 was a level for stop before the local high in 2024. $58 would be short term target followed by $65 for another target longer term
Banknifty is showing some positive signs, and if it breaks above 54,048, it could potentially reach 55,200-50,000. However, if it fails to maintain this level, it might remain in a volatile range throughout the week. Keep an eye on 54,048, as it’s a crucial breakout level for Banknifty.
BINANCE:BTCUSDT Bitcoin is staying in a symmetrical triangle. Because of the bullish market can rise over the $106.000.
CLV/USDT: Poised for a Breakout Above Key Resistance CLV/USDT is nearing a crucial resistance level, setting the stage for a potential breakout ?. The price has been steadily climbing, building momentum for a significant upward move ?. A successful breakout could ignite a strong bullish trend ?. Keep this pair on your radar and wait for a confirmed move before entering. Key Insights: 1. Critical resistance: CLV/USDT is approaching a major resistance level that has acted as a ceiling in the past. Breaking above this level could trigger a powerful rally. 2. Volume watch: Monitor trading volume during the breakout. A surge in volume ? would indicate strong buyer interest. 3. Bullish indicators: Momentum indicators like RSI and MACD are showing positive trends ⚡, reinforcing the potential for a bullish breakout. Steps to Confirm the Breakout: Wait for a clear 4H or daily candle to close above the resistance level ?. Look for a noticeable increase in volume during the breakout to validate buyer strength ?. Watch for a retest of the broken resistance, turning it into support, to confirm the move ✅. Be wary of fake breakouts, such as sharp reversals or long wicks above resistance ⚠️. Risk Management Strategies: Implement stop-loss orders to protect your capital ?. Adjust your position sizing to align with your trading plan ?. This analysis is for educational purposes only and is not financial advice. Always do your own research (DYOR) ? before making any investment decisions.
Algorand did a fib 61.8% retracement and going for the 0.6$ area which is the fib extension of 1.618.