As we talked about on Friday Xi-Trump have met at the G20 and decided to re open trade negotiations. The market liked that and have moved back to rick on. There is probably a long way before any deal is done so I doubt this move will stop the world slow down. Let's see how it develops but I'll be keep a watch on for moves back to safe havens in the coming weeks....
All eyes are on the G20 meeting in Osaka especially on whether Trump and Xi meet. If so then I imagine they should have something positive to say about a potential trade deal. The upshot of that is a potential boost to the world economy. Even a positive outcome will probably not be enough to reverse a slow down but it may prevent a recession. What to look for....
After the big drop in the dollar over the past week the FED chairman has come out and said it's overdone. As a result we could see a pullback on DXY. News coming out today in both Germany and the US may have a effect. Stock markets look to be starting a correction from highs. This is not investment advice Please share and like if you find this useful All links...
Today we focus on the USD and determine how it is going to proceed short. This is not investment advice Please share and like if you find this useful You can use the links below for more information and updates Steve Nixon
Consumer Confidence Index data coming out later today may see the dollar continuing it's push down. If not we'll be looking at a pullback but trend is still short. The yen, Swiss franc are still looking good as safe havens as are Gold and Silver. The Pound, Aussie and NZD all look weak. This is a summary of the 1 hour plus long recording I do 5 day's a week for...
As we can all see from the Dxy chart price has not broken out of the upward diagonal channel. Is it going to and what should we do if it does. This is not investment advice. Please share and like if you find this useful. You can follow me for updated and training via the many links below. Steve Nixon
After yesterdays FOMC announcement that they were going to support growth the market took it as a sign of future interest rate cuts. A cut would leave IR at 2% still much higher than any other developed currency. This could be the star of the drop of the dollar but I feel it will be a long slow process, to start with any way. After yesterdays sudden drop I think...
Today is Fed interest rate day - a hike is off the table and a cut is unlikely given last weeks CPI 1.8% Therefore the market will be listening to the statement for any sign of cuts in the next few months. If the FOMC sit on their hands we could see the Dollar continuing to rise . If they indicate a potential cut we'll see the dollar drop but I doubt if will go...
The ECB Forum is currently meeting and the Euro is looking under pressure. Tomorrow we have the FOMC interest rate decision so between them we could see some movement on the Dollar index and EURUSD. I suspect the Dollar is going to hang around it's current range for some time to come. Yen continues to strengthen as does the Swiss Franc. Pound short Aussie short...
I just listened back to this recording and noticed a couple of errors. Corrections CPI not PCI and this Dollar index will go short if the Euro goes long (NOT Short as I said) Today we review Fridays calls and look forward to Wednesdays Fed Call for direction on the dollar. Generally I'm Long on Safe Havens, Short Pound, Aussie and NZD. Short on Oil. In today's...
Today's retail sales data from the US could move the dollar. I suspect it will wait for the Fed interest rate decision next Wednesday before picking a direction. Safe havens progressing nicely as expected (Gold, Silver,JPY, CHF) Stock indexes look short Please remember to share and like. Follow for updates This is not investment advice Steve Nixon
Yesterdays PCI came in more or less as expected so the big short call on the Dollar than we heard from many sources didn't happen. I suggested you keep your powder dry yesterday and it has turned out to be good advice. The dollar has moved off lows and now looks set up to move back long into the channel. (for the next week at least) Wednesday see the Fed interest...
I'm not anticipating much movement on the Dollar today - the market is waiting for tomorrows ECB speech (Draghi) - possible interest rate cuts. Also tomorrow we have CPI from the USA. In the mean time look for opportunities on the AUD and NZD. Good employment news out of the UK is boosting the GBP today but remember the underlying problem of Brexit which will over...
Given the expectation of a global economic slow down I expect Silver to go long toward recent highs and beyond. Naturally timing is everything in trading but I wouldn't like to miss the move when it comes. This may or may not be the start of the long move so I'll be looking for a long entry (pullback and break (See chart) See the links below for a video...
As you can see from the chart this is looking like a nice Elliott Wave impulse. Today's FOMC meeting minutes may have an effect but I don't see much down side to the dollar yet. Even if the FOMC are dovish the dollar is still the best game in town so any pullback could simply be part of the 4th wave. Either way I don't see any set up long or short but if your in...
This is a purely structure based trade. Both the AUD and GBP are showing weakness at the moment so ordinarily I would not take this potential trade. Structurally we've had an impulsive move toward the ???? target. Next we had a 5 wave move down and now price is in an ABC correction. The A wave (zigzag) down is not complete so the possibility of another impulsive...
I've been looking to get short on oil for a while due to signs of a world slow down. Given the strength of the previous short from Oct 2018 it could be a very profitable trade. Timing is everything in trading so I'm not saying this is definitely the right time for a short but if it is I wouldn't like to miss it. Spend 5 minutes to see why I've entered another...
Dxy looks like it needs to move lower to complete it's correction before continuing long. If that happens we'll see a further push up on EURUSD before price continues short. Naturally price could push down from here but that is less likely. Either way you'll still have to find an short entry point once the correction ends. This is not investment advice I'll...