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...
Im long on EURUSD. Check the chart for details on the trade setup. SL @ 1.0589
I have not been able to find any conclusive data regarding whether or not this rally has been all time record for the Russell 2000 Index. Investor confidence has soared to all time highs via 3 week rally. Although I am glad to see this rise occur, I do not seem to understand the logical or fundamental justification for it. How much longer can the Stock Market...
The Bond Market. It is often overlooked by traders despite its instrumental role in the Global economy and determination of large macroeconomic trends. Major technical damage has been done across the board in the bond markets recently and this can be directly attributed to the new President of the United States. Donald Trump plans to explode an already enormous...
Looking back since 1995 we see clear price behavior pattern in SPX: 1. Smooth and steady climbing of the Index throughout years. 2. Just before a major reversal we see a price action widening and choppiness increase. 3. Bearish reversal following a close below the Fast MA line. As you can see, since 2015 we are inside the trading range period. It is wider...
$EURUSD suffered great losses last week as the Dollar Index (DXY) broke above the 100$ price zone with Yellen's help. Now the Dollar Index is testing the monthly 61.8 Fibonacci level (102$) and $EURUSD is testing 2015 lows - The bottom of a weekly trading range. The harmonic pattern hasn't been violated yet and X will be tested as well. Focus Zone -...
Federal fund rate future looks like following BTCUSD and now decoupled. This could mean 3 possibilities. 1) FF rate will drop very soon. 2) BitCoin price collapse soon. 3) Correlation collapse soon. What's your thought??
Today's price action in Gold will be crucial in setting the stage for the month ahead. Gold is trading at a critical resistance level of 1300 - 1310. A reversal here, (maybe this week) could see gold prices falling into December's Fed decision. First stop for gold is 1250, followed by 1200.
Our algorithms have detected a shorting opportunity on USDJPY ahead of #FederalReserve meeting. We have placed a sell limit order @ 104.40 with target @ 103.16 and stop loss @ 105.26
After touching the $ 51.91 price per barrel, oil has seen liquidations of profits, returning again in 46.50 area. This price zone is very important, because it meets the dynamic support formed by the beginning of August. It will be crucial to see how prices react to this key level, especially with the release of data on oil stocks on Wednesday and the...
Even with the disappointing unemployment claims release today, the overall trend of unemployment claims is on a downwards trend which supports continuous jobs creation and thus the case of a rate hike by the Fed in December. The dollar rally is likely set to retest the yearly high at 12,300.