<p style=““ class=“text-align-justify“>At the lows today earlier in the session, it looked like AUD/USD was poised for a firm break to the downside but now we’re seeing a recheck of the technicals as dollar gains ease slightly. The pair is still down 0.4% to 0.6865 but is at least keeping just above the 38.2 Fib retracement level at 0.6855 for the time being.</p><p style=““ class=“text-align-justify“>For sellers, a firm daily close below that will be much needed to establish the next downside leg in the pair. They are still in the hunt amid the prevailing trading sentiment but there’s still no breakthrough yet.</p><p style=““ class=“text-align-justify“>After Fed chair Powell reaffirmed the central bank’s resolve in fighting inflation, there isn’t much else for traders to work with to start the new week. The continuation of the Friday theme is the ongoing narrative and we might get just a bit more of that before markets start to reassess things again ahead of the US jobs report at the end of this week.</p><p style=““ class=“text-align-justify“>As such, the technicals will play a vital role in dictating the pace of any moves at the moment. For now, the dollar is in command but besides a clear momentum break in cable, there are still key technical levels in play for other pairs as seen above with AUD/USD as well.</p>

This article was written by Justin Low at www.forexlive.com.

<p class=“MsoNormal“>I am
sure that one of the main skills that a trader should acquire is the ability to
make decisions out of Meta Position. But what is it?</p><p class=“MsoNormal“>The
term Meta Position is widely used in NLP and means not just a “neutral” and
detached position but more like integrated one. A person takes up this position
when they grow over their polarities and starts a new level of development. Out
of this state of mind, a person can easily make fresh and adequate decisions.
However, Meta Position in the understanding of NLP and psychotherapy needs a
long way to reach, while I think that each trader can from time-to-time return
to a holistic, integrated state of mind. To make terms clear, I will later on
call this “observer state”.</p><p class=“MsoNormal“>if you
are just taking your first steps in trading, then I advise you to read the
article about <a target=“_blank“ href=“https://blog.roboforex.com/blog/2020/10/22/how-to-become-a-successful-trader-10-clues/?utm_source=forexlive.com&utm_medium=pr&utm_campaign=rf_en_external_article&utm_content=article&utm_term=meta_position&a=ohrb“ target=“_blank“>how to become a trader</a>.</p><p class=“MsoNormal“>To put
it very simply, in trading one does not only need to watch the market but also
needs to watch themselves watching the market. We do not only manage our
capital – open and close positions, decide upon adequate investing volume; but
we also manage ourselves – set up our perception, try to acquire self-control,
etc. Some are more successful in it, some are less, and some pay little
attention to it, preferring more and more optimised trading systems.</p><p class=“MsoNormal“>In my
opinion, if traders devoted at least 30% of their time spent on perfecting
their trading (creating and optimising trading systems) to the development of
their emotional intelligence, consciousness, and thinking skills, their work
would become much more efficient.</p><p class=“MsoNormal“>Why
would one return themselves to a neutral, detached state of mind from time to
time? If we do not do it, we risk trading with a clear bias toward our
positions and trading scenarios. This pushes our perception into tough
framework that will be hard to escape. And if we our work de-synchronises with
the market, such a nosedive will be even harder to stop.</p><p class=“MsoNormal“>The
easiest way to get back to the observer state is to write down immediately all
your thoughts, feelings, and emotions into a log. Psychologists agree that
writing down a text manually, with a pen/pencil on paper if more efficient than
typing it on a PC because this way we build a better connection with our
subconscious.</p><p class=“MsoNormal“>Read
more on this topic in the article about <a target=“_blank“ href=“https://blog.roboforex.com/blog/2020/10/07/emotional-intelligence-what-is-it-and-why-it-is-important-for-traders/?utm_source=forexlive.com&utm_medium=pr&utm_campaign=rf_en_external_article&utm_content=article&utm_term=meta_position&a=ohrb“ target=“_blank“>emotional intelligence</a>.</p><p class=“MsoNormal“>There
are several techniques that you can try. For example, you can get into the
observer state using the technique of spatial anchors. Try placing an extra
chair near your workspace; it will be an “observer chair”. Your task is to stop
being the trader for some time and turn into the observer. Such a simple thing
can be real help. Edward de Bono called such a change of mind-states a change
of “thinking hats”. He called certain states of mind “hats”: a white one for a
neutral position, a red one for concentration on emotions, etc.</p><p class=“MsoNormal“>Also,
you can return to a more centered state of mind using your breath and
concentration on certain points of your body. For each person, this will work
differently; however, try to hold your attention on a spot slightly below your
navel (closer to the middle of your body), and register what you feel. The main
task is to find a spot that will return you to a more balanced state of mind.
Holding your attention on certain body parts is used as a self-regulation
method in many martial arts, and traders may also use them.</p><p class=“MsoNormal“>The
goal of such practices is to keep your emotions from dominating over you when
you are making decisions; dominating you neither consciously, nor
subconsciously, and let you return control to your-self. You can spend many
years in psychotherapy and psychoanalysis (increasing your emotional pain
threshold) – or you can work individually on yourself, improving your skills of
self-control and self-regulation. I think this type of practice is more
available, and even more importantly – in the process, the person takes up all
the responsibility on themselves, thus being in a more mature position in their
life. However, in certain cases, if your emotions are too intense (your pain
threshold is low), you should better address an expert.</p><p class=“MsoNormal“>Alternatively,
you might switch to a higher timeframe because this is the solution of
self-control issues for many traders.</p><p class=“MsoNormal“>By Andrey
Goilov, Analyst at <a target=“_blank“ href=“https://roboforex.com/?utm_source=forexlive.com&utm_medium=pr&utm_campaign=rf_en_external_article&utm_content=article&utm_term=meta_position&a=ohrb“ target=“_blank“>RoboForex</a></p>

This article was written by ForexLive at www.forexlive.com.

<ul><li>Natural gas is one of the most watched commodity in the financial world, these days.</li><li>Some would claim that there is some news driven hype around this asset, and it may be time to look at technical hints, such as a failed breakout above resistance and the inability, so far, to capture the $10 round number</li><li>The volume profile and the EMA20 on the daily timeframe, is guiding this short trade idea, whereby the reward vs risk, makes the trade legit, IMHO</li><li>To mitigate risk, professional traders typically scale out of trades with a number of partial profit taking and exits. I show where to consider doing that according to the technical junctions shown in the below technical analysis video for natural gas futures, applicable starting 29 August, 2022.</li></ul><p>Trade natural gas at your own risk only. Visit ForexLive.com for <a target=“_blank“ href=“https://www.forexlive.com/technical-analysis“>technical analysis</a> on a variety of financial assets.</p>

This article was written by Itai Levitan at www.forexlive.com.

<p class=“MsoNormal“>UPCOMING
EVENTS:</p><ul><li>Monday: Fed
Vice Chair Brainard.</li><li>Thursday: US
ISM Manufacturing PMI.</li><li>Friday: US
Labour Market Report.</li></ul><p class=“MsoNormal“>The main
event of the last week was of course Fed Chair Powell speech at the Jackson
Hole Symposium. It was a roughly ten-minute-long speech, short, clear, and
resolute. Inflation and price stability words were used extensively signalling
a unique focus on that topic alone and to achieve their goal as Powell said
they will “keep at it until the job is done”. He even mentioned that there will
be “softening in labour market conditions and some pain for households and
businesses”. The cost of bringing down inflation to target of course will
require, ironically, a high price. </p><p class=“MsoNormal“>Moreover,
Powell admitted that the bulk of inflation is demand-driven, and their tools
are meant exactly to work on the aggregate demand side, so to bring back in
balance the supply and demand, they will need to see “below trend growth”. He
also cited ex Fed Chair Paul Volcker – famous for defeating inflation of the
70s with aggressive tightening – when talking about “keeping at it”, which is
also a title of Volcker’s 2018 memoir published just before he died. In fact,
Powell said “the historical record cautions strongly against prematurely
loosening policy”, which is another reference to the 70s. </p><p class=“MsoNormal“>All in all,
Powell basically “fixed” his “mistake” at the last FOMC press conference when
his words of neutral rate unleashed a party in risk assets and a loosening in
financial conditions and this could be also confirmed from his line „In
current circumstances, with inflation running far above 2 percent and the
labour market extremely tight, estimates of longer-run neutral are not a
place to stop or pause.“</p><p class=“MsoNormal“>As a
consequence, in the forex space, the USD rallied hard. The combination of
global slowdown, aggressive Fed and the safe haven status makes the USD the
best currency for now and the trend should continue to be in its favour this
week. </p><p class=“MsoNormal“>This week
there will be two important reports: the US ISM Manufacturing PMI on Thursday
and the US Labour Market Report (NFP) on Friday. So, it’s most likely that we
will see USD strength into the second half of the week and then we may see some
USD weakness if the data misses big to the downside as the market may still try
some rally in risk as economic conditions worsen. </p><p class=“MsoNormal“>The US ISM
Manufacturing PMI is expected to come at 52.0 from the prior 52.8. Leading
indicators are pointing to further weakness in economic activity amid slowing
growth and tighter monetary conditions. The market will be more focused on the
prices paid component of course. </p><p class=“MsoNormal“>The US NFP
is expected to show an increase in payrolls of 285K. The unemployment rate is
expected to remain unchanged at 3.5%. The major focus will be on wages metrics
with average hourly earnings expected to show an increase of 0.4% for the M/M
figure and 5.3% for the Y/Y. </p><p class=“MsoNormal“>This article
was written by Giuseppe Dellamotta.</p>

This article was written by ForexLive at www.forexlive.com.