I’d mentioned last week that the FX Indices were aligned for LONG US$ and SHORT EUR$ and what a good ‘heads up’ that ended up being for you all! That alignment remains in place BUT the US$ is struggling a bit at resistance AND momentum remains low so watch for any shift here. As always, […]

Last week: Last week’s market update was published against a backdrop of risk-off sentiment and growing fear about Coronavirus. I had warned, though, that some obvious divergence pointed to the need for some caution and to be prepared for any quick turn around and that is what last week delivered, until Friday at least. The […]

The US$ index has closed with a bullish weekly candle despite the miss the NFP. Momentum remains low on the weekly and daily charts though so watch upper resistance levels for further clues. The FX Indices are aligned for risk-off though so this is worth noting.

Last week: Coronavirus concern kept markets in risk-off mode last week with flight to safety flows continuing into the Yen, Gold and Bonds and out of the commodity currencies, stocks and Oil. It was somewhat surprising to see the US$ end lower for the week and this divergence, whilst it might not amount to anything, […]

The US$ has not enjoyed the ‘flight to safety‘ moves seen into the Yen, Bonds and Gold and looks likely to close with a bearish, almost engulfing, weekly candle. Coronavirus has sure spooked stock and Bond markets but not so with some FX pairs. The EURX weekly candle is currently bullish although printing an ‘Inside‘ […]