After a slow start to the week, the markets are thriving after Powell’s speech earlier today. The Dollar is up 0.73% for the day and is expected to push higher. Powell’s speech hinted at the further reopening of the US economy which would lead to a short-term increase in inflation. These comments match well with […]
This morning was the release of the ADP job numbers for the US economy. The result was the addition of 117,000 jobs versus the forecast of 203,000. This result led to only a small dip in the Dollar. Current forecasts for this Friday’s NFP release are bullish. The unemployment rate is suggested to stay the […]
Further US Dollar upside appeared fairly promising yesterday, but selling pressure has pushed the Dollar back below 91.00. As a result, the current daily candle is a shooting star, suggesting further downside for the Dollar. The US Dollar Index (DXY) has found itself down -0.32% the day before the ADP job report. Tomorrow’s forecast for […]
The Dollar is up for the day to start the Non-Farm Payroll week. Current forecasts suggest positive job numbers, which should lead to further upside for the Dollar. Although the unemployment rate is expected to increase to 6.4%, the US economy is projected to add another 133,000 jobs. We’ve seen the Dollar ‘ignore’ the first […]
Another eventful and profitable week is in the books for traders. Due to the Dollar’s ability to trend this week, many traders were able to rake in serious profits from both the majors and minors. Last Friday’s price action on the daily time frame for GBPUSD and NZDJPY both pointed to further upside. This week […]
As suspected, the US Dollar Index was only creating a lower high, before heading lower. The index went as low as 89.700, before turning around during the London session. As a result of the Dollar selling off yesterday, intraday longs for AUDUSD cashed in around +26 pips of profit. Over the course of the London […]
After spending much of the at 90.200, the US Dollar Index has pushed up to the upside, but the rally was short-lived. Price has since then created a new lower high and should head lower. While the DXY battles immense selling pressure, GBPUSD continues to rise. This pair has hit 1.42000 and is currently looking […]
The US Dollar Index (DXY) has started to consolidate after reaching the 90.000 psychological level. The long-term trend is still down, so we expect further downside this week. Price action traders entered GBPUSD longs last Friday and are currently up +100 pips of profit. Further upside is to be expected as today’s daily closure will […]
As forecasted, the US Dollar Index has headed lower after clearing this week’s low. Traders can expect further weakness for the Dollar throughout this week. The signs of the Dollar’s demise were present last Friday. In addition to the bullish signs shown by the Pound, price action traders entered long for GBPUSD. Since entry, this […]
As expected, the US Dollar Index took a tumble and went as low as 90.170 for the day. Price action analysis forecasts further Dollar weakness for next week. As a result of the weakening Dollar, the Pound has started to resume its previous uptrend. Traders have entered long with the final target being the highs […]