The US$ closed lower for the week and is now below the daily and 4hr Cloud. Currency traders need to monitor for any new FX Index alignment as this has the potential to trigger the return of trending markets.
The US$ index closed higher for the week but has failed to breakout from the consolidation pattern it has been trading within for the last 6 weeks. There was some flight to safety movement on the back of US Covid stimulus concern but some positive Vaccine news out of Pfizer on Friday pegged those gains. […]
The US$ has drifted lower and broken below a recent support trend line but momentum continues to be rather mute for the time being. The index also remains below the recently broken multi-year trend line so watch for any further weakness.
Both FX indices have closed with indecision weekly candles in a week that was shaped by a fair bit of turmoil. Turmoil coming from the US Presidential debate, the ongoing US stimulus debate, the US President’s Covid-19 diagnosis and, finally, a mixed US jobs report. Given all of this, it was rather surprising that there […]
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 […]