Technical excuses to look for a lower than expected NFP result.
RSI is closer to overbought than I would imagine the market would be comfortable with going into a major interest rate decision. So I am looking for consolidation after not so great FOMC news.
I was looking for structure to break and hold through the New York session but USD bulls lost the battle. The retest of the weeks high shows the market pricing in the fed meeting so I look forward to another test of the weeks lows before a leg up to test the month of July highs. In a perfect world the pattern completions would trade along with the Fed meeting.
Just a little food for thought... 4HR cypher pattern hidden behind a blatant H&S pattern. Any takers?
Technical's confirm trend channel reversal. Downside is on the horizon.
Last few hours of the trading week has proven to be a nail bitter. Lets see if structure reigns supreme.
The market speaks and traders react. As BOE holds off the cypher comes to light.
I am looking for the double top here. Structure confirms resistance level in the .7616-.7833 area. RSI confirms buying pressure is valid. 1 week after RBA meeting news the market is not phased relative to the outcome of that meeting, so until further development I believe the consolidation trend is still intact and further downside is on the horizon. In other...
I believe fundamentally the USD gains strength across the board in the coming months as long as the FED stays focused on the US economy. Coming off NFP going into a major fed meeting where they are most likely to not raise rates for whatever reason, and the high probability that Britian cuts rates. I plan to hold until the week of the July FED Meeting and look to...