The price is near Key Level 98.33. We can open SELL in Zone after fake breakout and daily candle close under Level.
USDJPY looks likely to remain rangebound as price looks to be forming a bearish engulfing candle on the daily timeframe. This is largely down to the current JPY strength which could be caused by some risk off coming back into the market. If the JPY strength continues we can look for potential range trading opportunities back into the lows.
In this video update, we take a look at the recent USD strength after the recent FOMC interest rate decision. The need for the Fed to cut rates has slowed and become less aggressive because of the recent good data. Fed Chairman Powell continued his hawkish outlook in the press conference which has helped sustain the USD rally. A close above the highs will be key...
USDCAD lined up with our strategy trade at the end of day close. In this video, we discuss the current reasons for taking the trade, how we can manage the positions and what to do going forward. If price continues the downtrend we expect to see the key demand zone of 1.2900 tested before the end of the year.
The price is near Key Level 98.33. We can open SELL in Zone after fake breakout and daily candle close under Level.
The USD strength continues despite the likelihood that the Federal Reserve will cut rates by 25bps this week. The key for any break or bounce here will be left in the hands of the fomc press conference. If the FED is aggressive with the way they want to cut rates then we should see USD weakness. If they feel there is no need to cut rates so aggressively then a...
Hello, we forecast USD index to fall to 0.89 level over a year range, so always tale the sell of highs, the buy lows will be correction. THUMPS UP
The NFP numbers came in strong for the US which saw a spike in the price of the USD Index. This data could be seen to have put a dampener on investors minds in how quickly the Federal Reserve is to cut rates in the future. If the data continues to be good for the US the need to cut rates could be pushed back.
GBPUSD technically could form an inverse head and shoulders pattern if the daily timeframe forms a bullish candle here. Typically if an inverse head and shoulders pattern forms the left shoulder acts as a key support area. GBP will likely remain under pressure and any long trades will need to be taken with lower risk in mind.