Assuming she mentions a fed rate hike here is my game plan
After breaking out of the Weekly bear channel, we saw a pop up of 300 pips (c.100.8-104.0), and noticed a Bull Continuation Flag building up over the days. Deep Take Profit Point lies at 107.8, with the pole being the same length as seen in the charts. I am looking to Long USDJPY 0.17% till at least 75% of the pole's length, which TP lying slightly above 106.5....
USDCAD failed to close above the blue line of 1.32417, which is strong resistance, though challenged and broken, shows that bulls dont have much power to break upside. Challenge of the bottoms is in play now, and we can ride the USDCAD bus down for decent $$$. See you there
USD has traded relatively flat following the slew of Fed speakers in the past 8hrs - despite Dec Fed Funds steepening aggressively from <50% implied probability to 56% probability of a hike. Perhaps more interestingly though, is that a fed hike has never happened in the past unless fed funds have priced 50% and recently we have traded below this figure which makes...
USD has traded relatively flat following the slew of Fed speakers in the past 8hrs - despite Dec Fed Funds steepening aggressively from <50% implied probability to 56% probability of a hike. Perhaps more interestingly though, is that a fed hike has never happened in the past unless fed funds have priced 50% and recently we have traded below this figure which makes...
At the opening of the market this week we were originally expecting further downside on GBPUSD if the 1.29150 Friday lows got taken out. Since the market opening however we have formed a clear double-bottom, almost to the pip, at the 1.2915 level. A strong area of support has now formed in this zone between 1.2915 to 1.294 over the last week or so. With today's US...
Fed Yellen Speech: Yellen: Current Policy Should Help Economy Move Toward Goals Yellen: Welcome Development That More People Seeking Jobs, Unemployment Measures Steady Yellen: Household Spending Key Source Of Economic Growth Yellen: Fully Committed To Achieving 2% Inflation Objective Yellen: Recent Pickup In Growth, Labor Market Strengthen Case For Rate...
Fed Yellen Speech: Yellen: Current Policy Should Help Economy Move Toward Goals Yellen: Welcome Development That More People Seeking Jobs, Unemployment Measures Steady Yellen: Household Spending Key Source Of Economic Growth Yellen: Fully Committed To Achieving 2% Inflation Objective Yellen: Recent Pickup In Growth, Labor Market Strengthen Case For Rate...
we will see what Yellen says, but I am long here. Also long on GOLD.
EURUSD tested and rejected the resistance area between 1.1330 and 1.1360 shortly after Yellen's speech had begun and broke out downwards. We should see lower prices during the coming weeks.
1. Expected USD raise after US GDP revision and Janet Yellen´s speach. 2. This is a W4 corrective wave from a 1-2-3-4-5 count, started by the beginning of the month. It hasn´t arrived yet to 78.60% retrace which is not normal for this kind of wave: normally, there are bigger retraces. 3. Downtrend respected: hasn´t broken the blue downtrend line, hasn´t broken the...
EUR$: 1. The Greece Debt crisis induced an agGressive 3000pip+ sell-off in just 6m (-22%). As the crisis "resolved" EUR$ however failed to retrace any of its losses. - Instead EUR$ looked to adopt these new crisis lows as what has become a long-run trading range - the likely explanation would be that future FED/ ECB monpol divergence was priced "early", hence...
Our pre-Jackson Hole note put into perspective the potential outcomes of both a dovish and hawkish tone from Fed speakers and the impact it would have on, then, current technicals. As expected, Fed Chair Yellen's speech lacked little inspiration. However, it was Vice Chair Fischer that provided the hawkish fireworks just as the dollar was grinding on...
The USDJPY is starting a movement medium term, with weekly indicators enplazo replicating what has been done in these last days newspaper. Next target, 104.00. You are exceeding the trend, straight to the WMA 200, projection range in 106.00. www.fxstreet.com