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After successive losing days, my gamble on a GBP retracement paid off. Good to finally have a large one in the bank. Will keep watching GBP crosses for the next tradable trend wave. Also eyeing a couple of other setups. Meanwhile, the USD remains range bound; but it's a no go area pre-NFPs as the fundamentals (ADP vs ISM) are conflicting. Hopefully NFPs should be the tiebreaker. Happy trading folks.
Community Blog
US dollar to strengthen on rate hike speculations
Hello everyone,
Welcome to the new month. It's likely to be a turbulent month in fx and equity markets . This is the final month before the US elections. The US dollar is at crossroads. On the one hand, economic indices point to a recovery and fuel the need for a rate hike. On the other hand, the upcoming elections create an air of uncertainty for speculators and all other central banks from Europe to Asia are actually easing rather than tightening monetary policy.
A look at the technicals revea…
Welcome to the new month. It's likely to be a turbulent month in fx and equity markets . This is the final month before the US elections. The US dollar is at crossroads. On the one hand, economic indices point to a recovery and fuel the need for a rate hike. On the other hand, the upcoming elections create an air of uncertainty for speculators and all other central banks from Europe to Asia are actually easing rather than tightening monetary policy.
A look at the technicals revea…
Swissie rallies after a fake breakout
Swissie has rallied almost 250 pips since Tuesday when U.S. dollar demand kicked in across the board. Prices below 0.95 were sharply rejected as was the break lower in the U.S. dollar index.
The pair is now back above both monthly trendline that capped 2003 - 2015 downtrend and 2011 - 2015 trendline. 50 DMA and 0.9750 are the first stronger resistance levels to keep an eye on.
The pair is now back above both monthly trendline that capped 2003 - 2015 downtrend and 2011 - 2015 trendline. 50 DMA and 0.9750 are the first stronger resistance levels to keep an eye on.
US dollar index bounced when hit rising trendline
Hello Community,
USD has sold off after series of bad data and especial US GDP Q1 2015 and dovish tone from FED. DXY index bounce a little after hit rising trend line. Can the trend line hold? Is economic data in Q2 better? USD reversal or Bulls run only stop temporary? I don't know. Follow the chart and market will tell us and shows signal!
Regards,
Haynes
USD has sold off after series of bad data and especial US GDP Q1 2015 and dovish tone from FED. DXY index bounce a little after hit rising trend line. Can the trend line hold? Is economic data in Q2 better? USD reversal or Bulls run only stop temporary? I don't know. Follow the chart and market will tell us and shows signal!
Regards,
Haynes