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Bitcoin Reaches May's High + Ethereum to $4,400
Forex Trading Analysis, Live Trading Room, Technical AnalysisBitcoin continues its bullish rally as the price met May's high yesterday. Ethereum is starting to gain momentum too as the price aims to reach this year's high of $4,400.
Price has been bullish for Bitcoin for much of this week as the price…
USDCAD Longs as Dollar Bulls Attempt a Rally at 92.850
Forex Trading Analysis, Live Trading Room, Technical AnalysisPrice action traders are entering long for USDCAD as Dollar bulls remerge after a week of battling bearish pressure. This bullish presence is prominent even after today's bearish GDP data.
After a sharp slump lower, USDCAD bulls are starting…
Major Longs For Next with Weaker Dollar Expected
Forex Trading Analysis, Live Trading Room, Technical AnalysisAfter a few days of bouncing between 90.850 and 91.400, the US Dollar Index is set to head lower next week. As a result, traders should focus on longs for the major currency pairs.
To start the week, the Dollar made a deliberate push below…
Euro "On Crutches" and Dollar Rebounds
Forex Trading Analysis, Live Trading Room, Technical AnalysisToday's ECB press conference left nothing to the imagination as Christine Lagarde (ECB head) said the economy is still "on crutches". As a result, the Dollar has rebounded back to 91.400.
Although, the ECB has kept interest rates at 0.00%,…
Dollar Ready for Next Push + Oil Longs
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe US Dollar Index (DXY) ended the week by dropping lower to create a new higher low. Further upside should be seen next week. In addition, Crude Oil is ready to move higher.
It was a productive week for the Dollar as the price was able…
Dollar to 92.500 + Majors Start to Slip
Forex Trading Analysis, Live Trading Room, Technical AnalysisAfter creating a range on the hourly time frame, the US Dollar Index was able to finally close bullish above 91.950. With that being said, the Forex majors should begin to head lower.
The Dollar has been quite elusive these past few weeks…
Dollar Slips After FOMC, What's Next?
Forex Trading Analysis, Live Trading Room, Technical AnalysisOpposed to Powell's last speech, his speech today was without a doubt dovish in tone. This had caused the Dollar to go from consolidating to being down -0.50% for the day.
Although the interest rate will stay at <0.25% as it has been for…