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CADJPY Longs Pending + US Oil Continues to Push
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe 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…
GBPUSD Profits + US Oil Long in Profit
Forex Trading Analysis, Live Trading Room, Technical AnalysisAfter breaching 91.00, the DXY had a hard time going any higher than 91.20. With this brief moment of weakness, trade setups for GBPUSD and US Oil were able to move into profit.
Price action analysis for GBPUSD showed a potential rally back…
DXY to 91.90? + USDJPY Swing Long Priming
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe Dollar has some life to it as the DXY is up +0.50% for the day. The next target may be 91.90 leaving the door open for USDJPY longs.
For the past six weeks, the DXY has been capped by 91.00. Price was able to push up to this level on…
USDJPY & GBPJPY Swing Longs for Next Week
Forex Trading Analysis, Live Trading Room, Technical AnalysisThis was a peaceful week to trade and was a fantastic way to end the first month of 2021. Other than the FOMC rate decision, this week was clear of fundamental news. These stable conditions will be short-lived as we have the Non-Farm Payroll…
DXY Fighting to 90.72 + Major Shorts
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe last week of January is upon us, and this week in contrast to previous weeks is rather calm in terms of fundamental news. This week may help traders end the first month of 2021 on a good note.
Aside from the FOMC rate decision on Wednesday,…
Weekly Trade Recap + USDCHF Range Setup
Forex Trading Analysis, Live Trading Room, Technical AnalysisAnother eventful trading week of 2021 is in the books. With numerous high-impact news releases, there was an abundance of viable trade setups for traders to take.
A pair that was particularly popular among price action and smart money traders,…
USDCAD Final Target Achieved + GBPUSD Intraday Short
Forex Trading Analysis, Live Trading Room, Technical AnalysisJoe 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…
DXY Bullish Despite Bearish Fundamentals
Forex Trading Analysis, Live Trading Room, Technical AnalysisDespite 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
Forex Trading Analysis, Live Trading Room, Technical AnalysisAs 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
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe 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…