It was a good week for the US$ and the index will close with a large bullish weekly candle and back above the recently broken 10-yr support trend line. The question now being: is this a pause or reversal of the recent bearish move? There are a few clues traders can look for when monitoring […]
The US$ rally paused last session giving some FX pairs a reprieve but stocks closed higher for no obvious reason. This to and fro with risk sentiment means traders need to remain nimble. Momentum is low on many instruments, reflecting the broader indecision, so watch for any new momentum-based trend line breakouts.
The US$ has kept marching higher and this is having a predictable impact on some Forex pairs and Gold. US stocks are lower and I had warned on the weekend that this chop might continue. I note this quote from CNBC: “Investors are being whipsawed by conflicting COVID headlines and the growth vs. cyclical debate,” said […]
Last week: There have been a lot of conflicting signals of late: Covid-19 cases are spiking across Europe, and there is concern of similar across the USA with schools returning, yet the risk-on type assets of Emerging markets, Copper and the small-caps Russell-2000 Index closed with bullish-coloured weekly candles and the Fear Index, VIX, closed […]
Both FX indices printed bearish-coloured Spinning Top weekly candles reflecting the indecision that continues to plague broader markets. The indices also remain divergent so keep this in mind if trading Forex in the coming sessions.