Posts

Manufacturing Data and USD Strength + GBPUSD Priming for Long

Manufacturing Data and USD Strength + GBPUSD Priming for Long

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Today's Philly Fed manufacturing data came out exceptionally well, as the data printed a result of 26.5 versus the forecast of 11.2. Despite this result, the Dollar has found itself down 0.42%. As expected, the long-term downtrend for the…
USDCAD Final Target Achieved + GBPUSD Intraday Short

USDCAD Final Target Achieved + GBPUSD Intraday Short

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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…
USDCAD Profits + NZDUSD Looking to Head Lower

USDCAD Profits + NZDUSD Looking to Head Lower

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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.…
Dollar Fails to Hit 91.00 + Weekly Fundamental Outlook

Dollar Fails to Hit 91.00 + Weekly Fundamental Outlook

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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…
DXY Bullish Despite Bearish Fundamentals

DXY Bullish Despite Bearish Fundamentals

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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…
EURNZD Shorts + USD Priming For Powell's Speech

EURNZD Shorts + USD Priming For Powell's Speech

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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,…
USDJPY Shorts + US Oil Swing Long

USDJPY Shorts + US Oil Swing Long

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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…
EURNZD Short Continuation + DXY to 91?

EURNZD Short Continuation + DXY to 91?

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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…
USD Mixed NFP Reaction + NZDCAD At Key Level

USD Mixed NFP Reaction + NZDCAD At Key Level

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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…
AUDUSD and NZDUSD Long Trade Setups + BTC to 40,000

AUDUSD and NZDUSD Long Trade Setups + BTC to 40,000

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This morning's ADP job numbers came out worse than expected at 123,000 jobs lost in comparison to the addition of 60,000 jobs. But, that did not stop the US Dollar from making a brief rally to the upside. After the initial rally, the DXY…