Hey Traders, I shared an idea regarding the Dow Jones back on June 9th 2017 & in that idea, I stated that the Dow was forming an Ascending Triangle. I placed a yellow zone on the chart in that idea to illustrate where traditional targets for the Ascending Triangle should be.. The Dow has managed to breakout of the Ascending Triangle formation & has shown the...
"Global stocks rally, dollar gains on Yellen's remarks" www.reuters.com
As the Federal Reserve is concerned with risks pertaining to loose monetary policy to the economy and financial stability, despite stagnant inflation levels, we are looking at a significant chance of a rate hike in the upcoming months. During the meeting, Fed did not specify the timeline of reducing their balance sheets. Based on the charts above, we are looking...
Couple scenarios to consider here depending on the tone and remarks made by Yellen regarding monetary policy. Currently USD has been moving up but the move will only continue if Fed chair Yellen reinforces her comments made 2 weeks ago when they decided to raise rates again and stated they were still on track and serious about another rate hike in 2017 either in...
Price increases after European Central Bank President Mario Draghi, announced "A gradual adjustment" of its monetary policy. While Federal Reserve Chair Janet Yellen offers no comfort for dollar. www.bloomberg.com
The market reacts with a sharp fall, after Janet Yellen announced a favorable scenario to continue with the increase of interest rates. www.bloomberg.com
The dow recent broke out of a triangle formation and bounced off the 100 day moving average. Note the two red arrows This set of conditions occurred back in November during the trump rally. Will another fundamental event come along to continue this leg? Looking for diagonal support at line B, D and the 100 day MA
USDRUB - provided the Fed will "incinerate" some or all of $4.3 bn of its balance sheet assets, there will be 30-40% jump in oil prices, which will cause Ruble strengthening
Couple of sessions back US Dollar Index manage to break the trend line support at 101.45 and fall to next support at 100.80 which caused a bounce. that bounce is resulting as a test of broken support as a resistance now around 101.70-80 level. Ahead of FOMC later today this level looks very critical as if US Dollar index failed to take out this resistance it is...
The FOMC will release its latest rate decision at 1800 GMT today, with unanimous expectations for a hike by 25bps to 0.75-1.00%, while the Fed are not likely to signal a steeper path in the immediate term. Yellen’s press conference will be in focus with participants watching for any comments in relation to the balance sheet. A hawkish view from Yellen could be...
Currently, the sentiment of the pair seems to be clearly inclined to a down movement of the price. But we should rather wait until Friday to find out more about what will be the real direction of the pair. Note that the US is strongly considering a hike in interest rate which can cause the USD to grow much stronger. However, the France is currently on crosshead...
Gold closed up 3.1 points on Tuesday but that was basically a move sideways. There was some volatility in the morning when Fed Chairwoman Janet Yellen began her testominy. But while the DXY dollar index had a strong move up, Gold stayed basically flat. However, it is clear on the chart that Gold is still trading under the 6 and 8 day moving average so my bias is...
DXY has closed this month with a bearish candle and also closed dead-on the same price as the previous month's lows. This suggest strong bearish pressure and with the Fed rate decision today, NFP on Friday and increasing uncertainty around Trump's policies, we could see continued bearish price action for the dollar in the coming months. Today's US interest rate...
Hi traders, We got a nice piece of data on US economy so lets discuss it. At first, Q4 GDP and Confidence data topped estimates.That’s a great news because America should meet Trump strong to let undergo his adventures :). Breaking down GDP by the components, exports fell... Read more: brokerarena.com
The US Dollar spiked strongly upon the announcement for the Federal Reserve to raise interest rates (earlier today). This could be a Leg 1 = Leg 2 bear extension. Throwing up 15 minute chart for fun. Let me know if you like the 15 minute charts by liking this one. Thanks!
JPY weakened, and the always in context for AUD/JPY remains long. Buy and hold.
Hello Traders, The market is in a range with price action lacking a firm direction and clearly waiting for a fundamental factor to drive it in either direction. The FOMC meeting tomorrow will be such a driver and we have two outcomes below along with our rationale. Outcome 1 - Rate Hike and Bullish Press Conference - 65% Likelihood: We favour a bullish statement...