Weaker than expected US economic data caused the dollar to weaken today against all rivals as traders start to price in a less aggressive Fed.
Will the dollar index continue to sore following this week's inflation data? Technicals suggest otherwise. Should the bullish channel break, traders will be eyeing the next level of strong support around 100.
The only reason I'm neutral instead of short is because I believe inflation is starting to peak and I feel as though the Fed won't be as aggressive with tightening monetary policy .
Inflation talk and speculation about continued rate hikes helped to strengthen the dollar this week and thus weighing down Bitcoin. However, traders will keep a close eye on the PCE inflation figures next week for signs of an early recession. Core Durable Goods and GDP are expected to print slowing figures next week according to forecasts. Core PCE next Friday is...
Inflation talk and speculation about continued rate hikes helped to strengthen the dollar this week. However, traders will keep a close eye on the PCE inflation figures next week for signs of an early recession. Core Durable Goods and GDP are expected to print slowing figures next week according to forecasts. Core PCE next Friday is also expected to come in less...
Many reasons to suspect a potential bullish breakout in terms of technicals as shown on the chart. With regards to fundamentals, there's lots of rhetoric surrounding interest rate hikes sure.., but on the contrary inflation could very well be peaking. In my belief the only reason US equities are correcting is due to the fact that the dollar is expected to gain...
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
In a nutshell, dollar likely to pullback. Don't take my word for it, just watch and learn. Come this upcoming winter... recession will be a real deal and all this talk about interest rate hikes is bogus.. This also means for all you #Bitcoin Investors, you're in luck! If the dollar pulls back as I expect, #BTCUSD likely to rally back up to 50k -- Trade Safe -...
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
Can you wait a month? ----- Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors....
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
Knowing the current situation regarding the war between Ukraine and Russia, my idea is either this war intensifies, or this pair might find a slow grind up towards 1.1250. == Here are a few comments this morning from the ECB == ➡️ "We are not seeing signs of stagflation currently" ➡️ "The war in Ukraine will have consequences for EU growth" ➡️ "European & US...
Starting with the 4 hour timeframe, the yen is finally starting to show some life as the oscillators give several indications. On the larger timeframe (reference charts below) you can see we're also testing the descending support. For now, I'm not suggesting a complete a reversal put a possible pullback towards the mid-channel pivot is warranted. Let's now take a...
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...