Following the FOMC minutes on Wednesday, gold has seen a massive two day move that brought the precious metal to five-week highs. Worries mount as market participants are beginning to realize that the Federal Reserve is stuck within a liquidity trap.
The minutes statement indicated that the Fed saw risks to near-term inflation (as the five-year breakeven rate hit...
Today should be a very important day for the EURUSD as we have both CPI and FOMC Meeting minutes coming out for the USD at 8:30am & 2:00pm (NY) respectively. Like many pairs as of late the Euro is currently at a spot right between structure levels where I have neither buying or selling interest. Hopefully today’s releases will push price action to either support...
Running Alpha Capital Markets observes that higher rates are not always a headwind, as the not too distant record shows that the electric utilities group can outperform and offer a margin of safety.
During the last period of higher rates, from mid 2004 to mid-2006, the FOMC hiked rates 16 times, and despite these incremental actions, electric utilities actually...
This is a follow up and an expansion on our GBPUSD chart posted last week (see link to related ideas below).
The recent rejection of $1.5660/1.5700 has resulted in a loss of the uptrend from the July 8, 9, and 24 lows. In context of the potential longer-term pattern - a bearish rising wedge that commenced with the break in price on July 7 and subsequent...
Talking Points:
GBPUSD Technical Strategy : Bullish
Support: 1.5475, 1,5357, 1.5250
Resistance: 1.5635, 1.5675, 1.5780
GBPUSD had a beating from BOE, but we still believe there is one pending leg up before it’s turn bearish. Currently pair broken bullish daily trendline but supported by bearish weekly trendline. We are expecting range trading between...
A few weeks ago I made a very controversial call on the USDCAD looking to go long despite a major level of resistance and an advance pattern on the higher timeframe. (You can see the video explanation of that trade here www.youtube.com) Well after finally being taken out for the remaining part of my position Canada has come back to a level that looks prime for...
In last night’s video we talked about Wednesday being a busy news day and how one of the major releases to keep an eye on was the GBP Average Hourly Earnings. Well, waking up and seeing big spikes in the GBP pairs I can assume that this number came out better than expected. I’ll make my news rounds after getting this post out to you. Now before we get into the...
EURCAD
Hi everyone this is a possible trade. Few of the reasons that makes this setup look good. First being at the previous support, trendline and the pattern itself. Lets see how it plays out and Good Luck :)
The USD sell off as traders set a chain of profit taking after 2 weeks rally due to various factors:
- Greece uncertainty of exiting the EZ make holding USD worthwhile
- US Economic data has been promising with CPI much higher
- Hawkish comment from Yellen
- That view is changing with 5th of June looming for a potential deal and no Grexit
A lower USD...
Entry: Long Dollar on the break out from the flag and taking out previous high of 97.73 for confirmation.
Stop: Use 97.00 psychological level or 96.98 which is 76.8% retracement of the flag high to low.
Target: Using the Flag pole as an estimate to a target - we have 100.37 (which was previous target)
Trade Invalidate if:
- Fed members talk down the dollar
-...
Today, we shall keep an eye on EURJPY as well. Pair has a nice bearish structure following a break down from an ending diagonal at the start of the week, so we assume that price will continue much lower after any corrective bounce. Well, we already see correction unfolding towards 135.50 area where sellers may cause next leg down.
$EURUSD Has broken below the ascending triangle bottom and looks set to break through the Double/Triple Top confirmation level 1.0720 (4h close). Another possibility is a rally off this level and a retest of 1.050 but we think this Triple/Quad Top/Double Bottom scenario is less probable. Look to sell any rallies into the broken triangle bottom or LT channel top.
According to the Forex calendar, we are expecting FOMC meeting minutes today at 19:00 GMT daylight. This news event hopefully will move the market to confirm our AB=CD pattern. The bulls are waiting with eager to get in the market while the bears are ready to take their profit and go home.
As illustrated on the graph, I am anticipating the market to come and...
$EURUSD Appears to have failed below the #FOMC high, carving a lower high around 1.0950. Shorts valid with stops above swing high, targeting the bottom (1:2.5 Risk:Reward), continuation. Stop should be trailed if aiming for continuation.
Again, here we are on a crazy FOMC day. Thus far the pair has been holding strong with bullish players. I am looking for it to break long after FOMC minutes
Price action broke from consolidation, and hovered underneath resistance at $333. Instead of trending lower, price action climbed the ascending trend line and rallied to $306. As said many times, these rallies are almost sold. This one was no exception.
Technically speaking, traders should have exited their trades after the ADX ticked lower, which is the first...
EURUSD is setting up for a bigger move either way. The FOMC meeting will
probably have a big impact on this decision. The price is generally oscillating
in a triangle since late 2008. This would imply more bullish months from here,
back up to the downtrending line of Highs.
The decider for a long or short will be the next 1-2 weeks as you can see the
price is...
Nothing too fancy here on the EURJPY just a simple structure based trade. Looking left you can see that the market has had trouble breaking this resistance level as of late. Combine that with the RSI being oversold and the existence of a double top featuring RSI featuring bearish divergence and it's more than enough for me to take a shot on.
This top was also a...
