I can see the Dollar cant wait to bounce on the 94.33 support to continue rising towards 96.38 next week.
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Demand for the US Dollar revived at the beginning of the new week ahead of the US labor market release. The figures came out surprisingly strong: May NFP equaled to 280K. What’s more, average earnings growth index overcame the forecast, rising to 2.3% (highest since 2009). The data increase expectations for a Fed’s rate hike at the coming meetings. Growing income...
Hello traders,
Gold is currently stuck in a rising wedge with a Doji to the count of "D". I learned from Elmo that the next letter after "D" is an "E". My guess is that the "E" point is somewhere around confluence area with the historical and diagonal line 1232.5
Therefore, I'm voting for a long for Gold for this week.
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Hello Traders,
Last week the USD Price Index turn from bearish to Bullish by breaking resistance fractals and now currently hibernating in the Kumo Cloud. I can see the Chikou Span is crossing the price. I can see the Price has managed to form an Inverted Hammer. I'm waiting for the Kumo Span A crossing the Span B to confirm the Bull trend.
U.S. manufacturing...
The Dollar Index is now retracing in a downtrend where opportunities to sell the Dollar are set at the above 95-96 resistance. Price may continue to face more drop to the below 93-92 support level.
The downtrend seems strong with Kumo Cross with a bearish future ahead. The previous Chikou Span also crossed and stayed below the price but..still not breaking the...
Manufacturing Production data is expected to decline 0.4% from previous 0.5%. Probably the price will rise to confluence trend line 1.68100 before slumps to 1.67900. I'm bias to sell.
Rate Cut please Mr Draghi..If the price breaks 1.35870 I'll take profit at 1.35000. Next US unemployment claims may become a swing or a pullback or even a reverse if the market decides.
I'm bias for long as GBP is gaining strength if they do break 1.67480 I'll Take Profit at 1.68000 or wait till 1.7100.
If the market disagree or USD is stronger and GBP is getting weaker due to spilling effect of ECB Minimum Bid Rate announcement and break 1.67000 support, i'll Take Profit at 1.66500 without a doubt it will continue to 1.64600 south deep.
I'm bias to short AUDUSD this coming Trade Balance report as China is slowing down so Aussie Trade Balance approximately will be bearish. The RBA would like nothing more than for the Aussie to drop below the 0.90 level, and Australian numbers have not been impressive of late. Selling at all news high or we'll wait for a floor break at 0.92600 and take profit at...
