DXY The dollar has had a rather bullish week start of March. This was especially accelerated by the non-farm payroll (NFP) released on Friday where we had the employment numbers change from 481k to 678k and the unemployment rate reduced by 0.2%. This has made the DXY continue soaring higher since breaking the resistance zone […]
Last week we discussed gold as XAUUSD approached 1912 resistance level looking to pick up long positions. On Thursday we observed a major rejection spike on the daily with the bears trying to push price lower still. Start of the new week the bulls make another attempt to break this level to push price higher. […]
As we come to the close of the trading week we see gold definitively break out of the consolidation zone to the up side. As mentioned earlier this is the signal we had been waiting for to pick up long positions on gold. On Tuesday XAUUSD retest the downward trendline which provided for an aggressive […]
This week we are looking at a very eventful week over all in the markets. Most of the setups we were watching last week and the week before we anticipate to get some entries this week. DXY The dollar index is showing a lot of dollar strength ahead of the trading wee. Last week we […]
Gold has been consolidating within a wedge for the recent past and the trend traders have not really had a chance to get into any positions. The dollar has had some major boosts as well as letdowns from a fundamental perspective in regards to the economic status of the country which has led to the […]
Since the the BOJ news release last week we’ve seen a change of tide on the EURJPY where the pair has consistently been making lower lows and lower highs. We are now looking at the pair fall back into a previously persistent range zone for the better part of last month approaching a rather strong […]
The Bank of Japan just released their stand on inflation which was pretty hawkish and the markets certainly did react to it. To give a brief recap of the currency’s performance in the last month, we observed EURJPY maintain a very strong support level between mid November and Mid December ’21 at 127.515 within a […]
Heading on to the third trading week of the month we’re looking at a relatively quiet week from a fundamental perspective. To watch out for is the GDP report in regards to the Chinese Yuan (CNY), outlook report and speech from the Bank of Japan and England respectively, GBP and CAD CPI data, as well […]
Following our start of week analysis, the dollar index had been in a range since November. We saw really strong support and resistance zones between 95.530 and 96.900 respectively. From a fundamental perspective we had the Fed Chair Powell testify whereby the remarks were dovish causing the pair to break out of the range with […]
DXY Following NFP’s release last Friday, the dollar index has been bearish and is approaching a support level at 95.635. We are anticipating for it to bounce off the support level and head for 96.654 level. This would mean we will be looking for shorting opportunities in pairs like GBPUSD, EURUSD, XAUUSD and buys on […]