The US$ march higher continues and this is keeping pressure on many Forex pairs. Caution is needed here, though, as there are a number of 4hr chart bullish-reversal wedges taking shape so traders should keep an open mind for some potential mean reversion, even if only temporary. Thursday is Thanksgiving and so, with the markets […]
The US 10 yr Yield was higher on Tuesday and this put pressure on the tech-heavy NASDAQ. The US$ is little changed though and, apart from the continued moves on Gold and the USD/JPY, there isn’t much change on other charts I monitor. The NZD/USD will be in focus today with the RBNZ rate update. […]
The US$ has rallied following President Biden’s renomination of Jerome Powell as the US Federal Reserve Chairman. The main movers after this news were Gold and the USD/JPY but pressure remains on all USD based Forex pairs. The thinner markets due to the holiday Thanksgiving week can generate exaggerated market moves so extra caution is […]
Last week: Better that expected US Retail Sales data and earnings from some big USA retailers provided a positive back drop for stocks to start the week but Friday’s announcements of a new lock-down in Austria and new restrictions in Germany, in the face of rising Covid cases, rocked those stocks sensitive to the reopening […]
The US$ remains in focus as it holds above a recently broken resistance zone. Traders will need to monitor the 95 level to see if this key level evolves from Resistance into Support as this will have implications for commodities and many Forex pairs.