It appears some of the ranges are tightening ahead of two big pieces of news out of the US. Forex traders are positioning themselves ahead of the FOMC and Non-Farm Payrolls. These are two crucial economic events and may shape how we move into the holiday season.
Month: November 2016
There are some conflicting signals emerging on some the major FX pairs. The dollar weakness we were expecting yesterday did not quite follow through from the Asian session. Today we are looking at two of the “safe-haven” currencies to see if anything emerges.
We have started to see the dollar come under some pressure this morning. It has been on a tearaway run over the last few weeks and probably due some sort of breather. This could bring the commodity currencies into their own as they will benefit from stronger gold and oil prices. Forex traders will also […]
It is Thanksgiving in the US today and so the afternoon and evening are likely to be a bit quiet. Reduced sessions and US FX traders feeding their faces with turkey could mean the dollar takes a breather. We have the commodity currencies in focus today.
The Aussie followed the rules yesterday for us and has pushed higher. We are expecting a bit of a follow through as US traders lighten positions going into the Thanksgiving weekend. We also have two of the safe-haven forex pairs on our radar as they appear to be over bought.
The Forex or FX Market derives its name from Foreign Exchange. It is essentially the exchange of currency (money) between two different countries. The FX market is the largest financial market in the world, and is open 24 hours per day, 5 days per week.
The dollar did pause for breath against our preferred pair yesterday and the Aussie made some gains. It is still on Dean’s radar for today after a bit of a weak session in Asia. We also have the ZAR in focus. Many of the big investment banks are positioning for a ratings down grade and […]
The dollar has been rampant since the election of Donald Trump. All currencies paired against the dollar have been battered and trading a multi-month lows. The thought is that some of the USD bulls may look to take some profits heading into the Thanksgiving weekend and so we are hoping that this might be the […]
Every day this week felt like it was Ground Hog day, we kept on waiting for the dollar to retrace and it just never happened. My preferred method of trading is to use divergence as a “trigger” to enter trades, it feels like I have been waiting with my finger on the trigger since the […]
The dollar continued its run yesterday and traded strongly against all the major forex pairs. Only Sterling put up a bit of fight. Today we will see if there is some profit taking now that the worst kept secret is out the bag. It looks there will be a rate hike in the US in […]