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Dollar Bulls on Path to 94.750 + GBPUSD Swing Trades Entered
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe US Dollar Index continues its tear higher as bulls push past 94.000. As a result, GBPUSD swing shorts have become active for traders.
The first hurdle for Dollar bulls was resistance near 94.100. Bulls were able to push and close bullish…
Forex Major Shorts as US Dollar Index Rebounds from 93.170
Forex Trading Analysis, Live Trading Room, Technical AnalysisTraders can look to possibly short the Forex majors as the Dollar rebounds from the key level of 93.170 a day before the FOMC press conference.
After attaining 93.430, the US Dollar completed a pullback to 93.170. This was level was an important…
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…
GBPUSD and NZDUSD Longs as the Dollar Plans to Revisit 92.850
Forex Trading Analysis, Live Trading Room, Technical AnalysisAfter a bullish trend last week, the US Dollar is presenting a more bearish stance to end off the month. As a result, our traders are hunting longs for GBPUSD and NZDUSD.
The US Dollar Index (DXY) is once again bearish this summer after the…
DXY Bulls Reach 92.300 + EURUSD Shorts Activated for NFP
Forex Trading Analysis, Live Trading Room, Technical AnalysisAfter ending off July on a bearish note, Dollar pulls have answered with a pullback to 92.300. Meanwhile, traders have entered EURUSD shorts as we approach tomorrow's NFP job report.
The US Dollar Index had a rough time last week of July…
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…
Bearish US Sales Data, Dollar in a Limbo
Forex Trading Analysis, Live Trading Room, Technical AnalysisThis morning's US retail sales data came out much worse than expected, and traders could see further weakness in the Dollar as a result. Despite attempting another push higher, the Dollar is stuck in limbo.
The core retail sales data came…
Predictions for NFP + GBPUSD Swing Long
Forex Trading Analysis, Live Trading Room, Technical AnalysisThis morning was the release of the ADP job numbers for the US economy. The result was the addition of 117,000 jobs versus the forecast of 203,000. This result led to only a small dip in the Dollar.
Current forecasts for this Friday's NFP…