The US Dollar Index is up more than 2.4% from the June low with DXY now approaching multi-year inflection slope ahead of the FOMC interest rate decision and US Non-Farm Payroll this week. These are the updated targets and invalidation levels that matter on the DXY weekly price chart heading into the close of the
Month: July 2019
Cable lands with a thud Cable finally found some support ahead of 1.2200 but halting the decline hasn’t led to any kind of rebound. Since hitting the low two-and-a-half hours ago just after the London fix, the pair rallied max of 24 pips and is now just 10 pips from the lows. It’s early, but
On Wednesday, the Federal Reserve (Fed) will announce its decision on monetary policy. Analysts at Rabobank expect the Fed to cut the target range for the federal funds rate by 25 bps. They think the risk of one or more additional insurance cuts in the coming quarters is substantial. Key Quotes: “We expect the FOMC
A pip is the unit you count profit or loss in. Most currency pairs, except Japanese yen pairs, are quoted to four decimal places. The fourth spot after the decimal point (at one 100th of a cent) is typically what one watches to count “pips”. Every point that place in the quote moves is 1
January high breaks The January high of 0.9108 in EUR/GBP broke in a flurry of buying in EUR/GBP as the pound continues to take a beating. EUR/GBP is now trading at the best levels since September 2017. Like GBP/USD, there now isn’t much stopping a further 200 pip move to the longer-term extremes. The market
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Latest data released by the BOE – 29 July 2019 Prior 65.4k; revised to 65.6k Net consumer credit £1.0 billion vs £0.9 billion expected Prior £0.8 billion; revised to £0.9 billion ForexLive Headline mortgage lending increased to its highest level since January but really the more worrying part of the release here is that consumer
Karen Jones, Team Head FICC Technical Analysis Research, noted the leg lower in AUD/USD could test the 0.6865/55 band. Key Quotes “AUD/USD sold off last week from a very tough band of resistance, namely .7065/8. This is the location of the 200 day ma and the 8 month downtrend. The market has eroded the 55
GBP/USD falls to a low of 1.2335, the lowest level since March 2017 ForexLive Price has now breached the April 2017 low of 1.2551 and is hitting its lowest level since March 2017 as Dominic Raab continues to reiterate the government’s stance on Brexit negotiations by calling the EU “stubborn” and saying that they must
GOLD & CRUDE OIL TALKING POINTS: Gold prices struggling for follow-through, chart warns of topping Crude oil prices remain pinned to support near $55/barrel figure Markets eyeing US-China trade talks, Fed policy call for direction Bellwether commodity prices are idling as markets brace for a week loaded with heavy duty event risk, from the resumption
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I AGREE. Trading platforms are pretty intimidating, especially for beginners. You should see the looks on people’s faces when they see my screen in Starbucks. One of my favorite platforms is thinkorswim with TD Ameritrade. In this series, I will be explain the basics of using the thinkorswim platform to trade forex, futures, and options.
Could hit the USDJPY Bloomberg is reporting that Japan’s Government Pension Investment Fund has started to hedge overseas bond investments. The move could tilt the USDJPY lower and push the price to the lower end of the recent range. The author notes that the “details are sketchy”, but it is worth keeping an eye on.
EUR/JPY remains on a back foot below 4H 100MA but 23.6% Fibonacci retracement limits immediate downside. The lower high formation, comparative JPY strength favor the quote’s decline. Although 4H 100MA continues to tame the EUR/JPY pair’s post European Central Bank (ECB) decision rally, the quote remains supported by 23.6% Fibonacci retracement of June-end to July
Falling 100 hour MA with 20 pips The EURSUD is off to a slow start with the pair up about 4 or so pips from the Friday closing level. The pair currently trades at 1.1131. Last week, the pair moved to a new 2019 low last Thursday after the ECB decision but could only muster
Gold Prices May Suffer if FOMC Undermines Dovish Expectations Gold prices may look increasingly overpriced if the FOMC rate decision and commentary fall short of the market’s comparatively more dovish expectations, opening the door to weakness. Australian Dollar Could Struggle as Crucial Inflation Data Loom Australian Dollar market focus has returned with a vengeance to
Conservative politician and the Cabinet Office Minister, who was tasked with overseeing no-deal Brexit planning by British Prime Minister Boris Johnson earlier this week, Michael Gove said that the government was now operating on the assumption that the EU would not offer them a fresh agreement. Writing in The Sunday Times, “No deal is now
Dow Jones, Nasdaq 100, S&P 500, DAX 30, FTSE 100 Fundamental Forecast: Dow Jones, Nasdaq 100, S&P 500, DAX 30, FTSE 100 Fundamental Forecast The three large-cap US equity markets will roll into the week near record highs following a string of strong earnings from some of the country’s largest companies. Earnings season will continue
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Moving Average cross EA/Robot by FX SCHOOL Visit: https://fxschool.info/moving-average-ea%2Frobot Moving Average Cross My best Forex Trading Strategy. MA crossover. by Asirfx This a very good strategy for trader. If U can follow it properly u can make profit. This this very simple strategy… The moving average crossover strategy is geared toward finding the middle of
GOLD FUNDAMENTAL FORECAST: BEARISH Gold prices have climbed over 11 percent in the past two months on dovish Fed bets The FOMC rate decision may catalyze a reversal if dovish expectations are not met IMF publication of updated world economic outlook supports loose credit paradigm See our free guide to learn how to use economic
Trump comments late on Friday Trump made news late in the day on Friday. Speaking to reporters, he walked back comments from economic adviser Larry Kudlow, who earlier in the day said the White House wouldn’t intervene in the dollar. “I didn’t say I’m not going to do something,” he told reporters. It was earlier
In 5 steps I’ll teach you a winning Forex false breakout strategy. Forex markets ‘fakeout’ on a regular basis. Have you ever been caught out by a false breakout? Where you see a little bit of profit and then the trade becomes a loser and fast? Annoying, isn’t it? This is a highly effective Forex
How To Start Forex Trading With $100 | 2 Ways To Manage Your Account FREE: The Complete Price Action Strategy Checklist: http://bit.ly/2wSHj8N In this Forex trading vlog, I explain how you can start trading Forex with $100 in 2 ways. Vlog #225. Although $100 isn’t enough to make a living from trading, it represents a
EURUSD COULD OSCILATE ON JULY US JOBS REPORT NEXT WEEK EURUSD faces significant event risk next week with the upcoming July US Jobs Report set to round off the chalk-full economic calendar July US nonfarm payrolls data threatens to exacerbate spot EURUSD price action or could cause the currency pair to whipsaw depending on Eurozone
Fundamental Australian Dollar Forecast: Bearish Official Australian Consumer Price Index figures are coming up They’re forecast to show an uptick, but not much of one Trade talks might provide wildcard support Find out what retail foreign exchange traders make of the Australian Dollar’s prospects right now, in real time, at the DailyFX Sentiment Page The
President Trump has crossed the wires recently and he has made a number of comments across various political topics, including saying, ”I didn’t say I’m not going to do something on the Dollar. Additional comments: Not upset by North Korean missile launch. China will sign deal ‘almost immediately after 2020 win’. USD is the currency of choice, EUR is
Forex news for New York trading on July 26, 2019 a snapshot of other markets near the session close is showing: Spot gold rose $2.91 or 0.21% $1417.44 WTI crude oil futures rose $0.12 or 0.23% and $56.14 Bitcoin on Coinbase down $34 at $9841. Last Friday the digital currency traded at $10,536 In the US stock market, the major indices
Fresh records were scored by S&P and Nasdaq. DJIA, ended higher by 51.47 points, or 0.2%, at 27,192.45. Markets traded with an upbeat tone into the weekend with a rebound in North American equities. The U.S. benchmarks on Friday ended higher with both the S&P 500 and Nasdaq Composite indexes closing at new highs on
The S&P500 bulls are relentless as they reached a new all-time high. The level to beat for bulls is at 3,030.00; 3,045.00 and the 3,075.00 level. S&P500 daily chart The S&P 500 reached a new all-time high at 3,028.50 this Friday. Bulls objective is to drive the market in uncharted territories towards 3,030.00; 3,045.00 and
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