Joe Biden has officially been inaugurated as the new acting president of the United States. Surprisingly, the markets had a dull response to his ceremony and speech. Short-term technicals point to a bullish Dollar, while the long-term downtrend is still present. Yesterday, price action analysis found the DXY to be bearish for the day. As […]
The calm before the storm, that is the storm of fundamental events that will be taking place tomorrow. The DXY could go either way, and traders have options in terms of trade setups. Currently, the DXY is resting at this week’s low of 90.40. Price has started to consolidate as traders and investors look to […]
Last Friday’s fundamental news has put a damper on the Dollar’s recent attempts to attain 91.00. With a week full of fundamental news, this could be the week that the Dollar finally pushes through or reverts back to the downside. Today is MLK Day in the United States and thus a bank holiday. There are […]
Despite several bearish fundamental factors, the US Dollar Index (DXY) has pushed past this week’s high and is en route to 91.00. Traders are left wondering if this is manipulation or a reversal occurring before their eyes. The first bearish fundamental factor weighing on the Dollar was the remarks made by Jerome Powell. Powell said […]
As expected, this morning’s fundamental releases have the US Dollar in a blunder. More unemployment claims were filed last month than expected which caused the Dollar to quickly shift from being bullish for the day to bearish. As a result, many of the majors such as GBPUSD are pushing higher and are ready to resume […]
The US Dollar spent much of yesterday selling off and as a result trades for USDJPY and USDCHF raked in decent profits for traders. As of right now, the Dollar is at crossroads in deciding which direction it wants to go. Price action analysis completed yesterday determined a bearish bias for the DXY. A quick […]
The US Dollar Index (DXY) failed to make a rally to 91.00 and instead is showing signs of bearishness. Traders should look for potential USDJPY shorts and US Oil longs to take advantage of the current situation. Price action traders have identified a possible short for USDJPY which has failed to go higher than the […]
Over the weekend, the US Dollar Index (DXY) continued its rally as price made a push to 91.00. This key level may be used as a resistance, so traders are advised to focus on the minors until more information is available. One minor that may provide easy profits is EURNZD. This pair has been in […]
Today’s Non-Farm Payroll release results were mixed, but the US Dollar Index (DXY) was set on moving higher. As the majors adapt to the DXY, NZDCAD has found itself in a unique situation. The unemployment rate for the US economy came in at 6.7% versus the forecast of 6.8%. But, the job market faced a […]
This morning the US Dollar Index (DXY) has created a new high for the year near 90.00. Some of this can be attributed to the chaos that occurred at the Capitol. Also, Donald Trump has conceded the 2020 election this morning which may also have had some effect on the Dollar. Despite the rally done […]