After briefly pushing above 91.00, the Dollar has found itself on the way back down to 90.50. As a result, many of the majors should resume their gains against the Dollar. Price action traders entered a swing long position for US Oil on February 2nd, 2021. Since then the price has jumped up +750 pips […]
The US Dollar Index continues to climb as it is up 0.47% for the day. After creating a low to start the week, the price has rallied considerably with 91.200 as the next target. This morning the US economy released its core retail sales data. The result came out at 5.9% versus the forecast of […]
After the long weekend, the Dollar has come out with a punch of its own as price attempts to clear last week’s high. It’s too early to decide if bullishness is here to stay for the Dollar, so traders are shifting their focus to AUDJPY and US Oil. After closing bullish for the week last […]
The lack of fundamentals this week allowed traders to take full advantage of the charts without worrying too much about unexpected noise. In addition, pairs like GBPJPY are setting up for longs that can be taken next week. Amidst all the majors that gained on the Dollar this week, US Oil seems to be the […]
After being shorted for much of the week, the US Dollar Index (DXY) is expected to retrace back to 90.50 before possibly continuing its path lower. Price action analysis of the Dollar is suggesting that the current downtrend may be put on pause, as the price is indicating a reluctance to move lower. For the […]
As the US Dollar Index (DXY) makes its way down to 90.00, traders are securing profits from trades against the Dollar. Price action analysis indicates that the DXY will have a small rebound from 90.40 before the price continues its path down to 90.00. At this point, price action traders have secured about 50% of […]
As predicted, the DXY was set to fall after closing bearish below 91.00. As a result, many trades such as GBPUSD, EURUSD, and USDCAD are surging into profit. Price action analysis yesterday predicted that the Dollar should continue to weaken and traders are targeting 90.00. The Dollar will continue to weaken before tomorrow’s CPI data […]
As expected, the US Dollar Index has found itself below 91.000. If the daily can close below this level, traders may see further Dollar weakness. After last Friday’s bullish NFP results, the Dollar has continued its selloff. Price made a high at 91.60 and has since then fallen below the key psychological level of 91.00. […]
Today’s Non-Farm Payroll release did not disappoint as the US Economy was able to add 49,000 jobs and drop unemployment to 6.3%. Despite the positive result, the Dollar finds itself down -0.57% for the day. Traders should not put too much emphasis on the Dollar’s abnormal response to the NFP as this sort of response […]
The day before the Non-Farm Payroll (NFP) release, the Dollar is confidently bullish. Price has pushed and closed above 91.200 and is on its way to 91.750. In most cases, it’s not recommended to take trades for the majors right before the NFP. Either due to the consolidation or manipulation that may take place before […]