Both FX Indices have given substantial follow-through following last weeks reversal patterns and both have broken through 26-month trend lines. The clues offered on the FX Indices over the last three weeks should have greatly helped EUR/USD traders; did any of you catch these moves? Friday’s NFP gave a decent print on the jobs added […]

I had warned last week that the US$ index looked like it might be undergoing a technically-based moved lower in spite of other flight to safety moves and this is what has evolved. Markets are roiling with Coronavirus but there are two clear technical patterns that have emerged on the FX Indices this week. Caution […]

The US$ dipped on Friday and, whilst some are reporting this is due to weak US data, I suspect this is more of a technical reaction to the huge 100 whole-number level. The US$ has been on a rally for much of the last seven weeks so some pause or pullback might be in store, […]

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, […]

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.