Last week: There was a risk-on shift last week in the lead up to the 4th July US holiday weekend. US Stocks and Oil closed higher, as did the AUD/USD and NZD/USD, with Bonds and the VIX closing lower signalling a decline in fear. Gold was also marginally lower for the week, as the $1,800 […]
Cyber security has become a higher profile topic in Australia over the last week following the Prime Minister’s announcement about serious issues threatening the security of our country. I’ve noticed increased traffic on this topic through my ‘inbox’ and, given I am preparing for an ATAA technical analysis trading meeting on Saturday morning, I decided […]
Both FX Indices closed with indecision style Spinning Top weekly candles! Both also remain in the range-bound patterns they have been in for the last couple of weeks. Traders need to monitor these patterns for any momentum based trend line breakouts for clues with other currency pairs.
The drop in the headline Unemployment rate in Thursday’s NFP helped to boost risk appetite with US stocks closing higher. This is despite disappointing wages data and increasingly disturbing Covid impacts being reported across the USA.
The daily shift between risk-on to risk-off only reinforces that watching for trend line breakouts is the best strategy for traders to use. There was a perfect example of this last session with the GBP/USD. Recall that Friday is a holiday in the US.