The State Capture report dominated proceedings in South Africa. Forex traders were also focused on the FOMC meeting and unsurprisingly they did not raise rates in the US. We expect more volatility as we approach the US Elections so please take care and adjust your position size accordingly.
A massive day for the equity and FX markets. Forex traders had plenty to sink their teeth into as the dollar came under pressure. The FOMC tonight and additional volatility expected before the US Elections. Should be plenty to keep traders interested.
The dropping of the fraud charges against #Pravin dominated local news. The Rand responded strongly and the FX market sold the USDZAR pair heavily. This morning we have had the RBA (Reserve Bank of Australia) leave rates on hold and so this has responded to the upside.
Dean is looking to play the USDCAD from the short side this morning. He is also looking at the AUDUSD from a long perspective and both these FX pairs are at big support and resistance levels. There is the risk that no deal happens within OPEC so the USDCAD Forex pair could be exposed to […]
After the FOMC meeting last month, this week’s US GDP data took a leading role in trying to plot where the next big move was going to come. As the market spent most of the week jockeying for position it seemed that the Dollar was pricing in an impressive number as it forged stronger against […]
Dean’s Daily FX Update – 28 October 2016 In the Zone AUDUSD USDCAD Noteworthy News Nissan confirmed that they will be building the Qashqai and X-Trail in Britain for the foreseeable future. This is a major coup for the British Automobile industry and will aid in adding jobs, I would expect to see some […]
Dean’s Daily FX Update – 27 October 2016 In the Zone USDCAD USDJPY Noteworthy News Under the circumstances, Finance Minister Gordhan delivered a fairly solid Mid Term Budget Speech. It was largely well received with most parties seeming to be content, the only disappointed party was the EFF (no surprise there). It is […]
Dean’s Daily FX Update – 26 October 2016 In the Zone AUDUSD USDCAD USDCHF USDJPY Noteworthy News As if there was not enough tension around the current political landscape in South Africa, and in particular today’s Mid Term Budget Speech. Protesting students in the #FeesMustFall Campaign (remember them?) plan to protest at Parliament during […]
The CCI was initially developed for the commodity markets but is widely used by FX and equity traders too. It measures the variation from the average and is similar to the RSI and Stochastics. It indicates a reversal of the trend.
Envelopes are based on a simple moving average. It uses a deviation to show an upper and lower trading band. When the market reaches the upper band, it indicates a short may be in play. The same applies to a long trade. An extremely useful tool.