Note: The S/R levels (i.e. likely bank trader order levels) as depicted in their respective timeframes in this and prior articles have not changed, and will probably NEVER change regardless what happens in financial markets. What follows is my own world view, developed from an institutional trading career dating back to 1995.
Today should’ve been Day 2 of Brexit but markets are faced with more Parliamentary jockeying until 12 December (at least). Still in the background are the usual suspects: US-China trade, and President Trump’s political troubles.
In the latest development, US Congress has formerly voted to set proper impeachment inquiry procedures against Trump.
The dollar was mixed earlier but is now weaker across the board, especially ahead of tonight’s NFP stat, which is projected to show a more subdued reading, with the jobless rate also predicted to show a slight uptick.
The following are our S/R levels ahead of the weekend.