I had warned on Saturday that the FX Indices were aligned for LONG EUR$ and this has proved to be the best advice for this week with the EUR/USD giving the cleanest of moves thus far.
Last week: There was a bit of to an fro between risk-on and risk-off last week but the three major US stock indices all closed higher as hope for a Covid vaccine ultimately moderated concern about the rising cases load of infected citizens in the USA and worldwide. The NASDAQ index actually closed with a […]
Both FX Indices have closed with bearish weekly candles and the chart patterns on display over recent weeks remain. However, there has been one small change and that is that the indices have slipped into FX Alignment for what I used to call classic-style Risk-On. Read on to find out more. A recent example of […]
Markets switched to risk-on last session despite the rise in US Covid cases. The back and forth between risk-on and risk-off is akin to flicking a light switch making trend trading very challenging at the moment. You need to choose your battles (read: trades) wisely at the moment as the recent GBP/USD Descending Wedge trade […]
US stocks closed lower on Tuesday as, for some reason, Covid became an issue today. It wasn’t an issue yesterday but today it was. Regardless of this prevarication, I have been warning for weeks about the need for caution as Volume and Momentum continue to decline with this latest S&P500 rally. Divergence is always a […]