Recorded GBPUSD Scalp Trade
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The current week starts with losses, same way the previous ended, despite the fact that it constituted its third straight profitable one and was accompanied by new month highs
In this article: 1. Poor consumer sentiment hurts dollar. 2. The greenback finds support on shorter-term chart. 3. Longer-term chart looks bullish. 4. Shorter-term particpants need to sync with longer-term trend USDOLLAR Charts: Past performance is not an indicator of future results Further to Friday's article, the dollar weakened after an exceptionally poor preliminary University of Michigan Consumer Sentiment number. The print came in at 66.8 against a consensus of…
Australia’s largest trade partner, China, released improved Retail Sales and industrial production for the month of October, providing a boost to the Aussie and to overall market sentiment
This week starts with improved sentiment, helped by better than expected economic data from China, which works against the US Dollar.
Past performance is not an indicator of future results The left chart shows the USDOLLAR daily. It sits in the area of strength (upper blue and upper red bands). The red Bollingers are expanding as dollar volatility increases. The right chart shows the hourly time frame. Current price action is at a confluence of support [central pivot (P) and price support (blue rectangle)]. We are looking to see if the…
The pair started the day strong, but has since erased most of its gains and trades mixed, as it approaches to the end, of what is likely going to be a profitable week
Past Performance is not an indicator of future results. The weekly EURUSD is examined on several levels: 1. Head and shoulders top (blue rectangles). The positively sloped aqua line shows the pattern's neckline. The vertical aqua line derives the pattern's target following its breakout. The target is 1.1134 and is academic - it may or may not be achieved. However, it does give the sense of bearishness associated with breakdown.…
The pair is trying to halt its post-US CPI plunge today, but could not keep away from fresh 2021 lows and looks like it won’t be able to avoid a third straight negative week either
Past performance is not an indicator of future results Following our previous analysis, the USDOLLAR has built off of its reference low. This week's price action has charted the next higher peak in a series of higher troughs followed by higher peaks. The USDOLLAR is in a defined uptrend. Furthermore, the greenback's momentum has increased throughout 2021. This is evident by the shift up in gradient from the green trendline…
Yesterday’s surge in US CPI Inflation boosted US 10 year Bond Yields and bolstered expectations around rate hikes by the Fed, leading the pair to one of its best days of the year
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