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US Oil +150 Pips in Profit, USDCAD Shorts Next!
Forex Trading Analysis, Live Trading Room, Technical AnalysisAfter yesterday's FOMC presser, market participants are looking to short the Dollar. As a result, US Oil is pushing higher into profit and USDCAD shorts are expected.
Powell stated that although the economy is on track to meet its inflation…
Majors Await FOMC Presser + NZDUSD Shorts Commence
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe Forex majors have spent much of the day awaiting the FOMC meeting minutes for more insight on the Dollar's trajectory. Meanwhile, shorts for NZDUSD are starting to play out as price revisits support at 0.69200.
Today's FOMC conference…
Dollar Faces Bearish Pressure + Crypto Bulls Respond
Forex Trading Analysis, Live Trading Room, Technical AnalysisA new week presents new challenges for the Dollar as bears take control. Crypto bulls aren't backing down as bulls respond to weeks of bearish pressure.
After failing to make a new higher high last week, the Dollar has found itself within…
Dollar Bulls Try to Push Higher + US Oil Long Trade Setup
Forex Trading Analysis, Live Trading Room, Technical AnalysisAfter bears took the Dollar past below 92.750, bulls in the market are trying to respond. Meanwhile, US Oil (Crude) prices look to rebound higher back to the yearly high.
The Dollar suffered immense bearish pressure during the London session…
AUDUSD Continues to Fall as NZDUSD Shorts Gear for Entry
Forex Trading Analysis, Live Trading Room, Technical AnalysisAs the Dollar continues its bullish rally, AUDUSD continues to slip further into profit. Additionally, NZDUSD is also gearing up for it's own move lower.
The US Dollar Index (DXY) has continued its uptrend as the price has made a new high…
Positive Retail Sales Data Boosts Dollar and AUDUSD Hits First Target
Forex Trading Analysis, Live Trading Room, Technical AnalysisToday's US core retail sales data gave the Dollar a much-needed boost and many majors such as AUDUSD are heading lower as a result.
This morning's core retail sales came out at 1.3% versus the forecast of 0.4%. The sales data came out at…
US Dollar to 92.750 with USDJPY Looking to Push Higher
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe US Dollar Index (DXY) is seeing bulls come in at the right time as bears almost brought the price to 92.000. With this resurgence, USDJPY is looking to edge higher.
Yesterday's price action made it seem likely that the DXY would revisit…
USDCAD Looks to Head Lower and US Oil Targets Yearly High
Forex Trading Analysis, Live Trading Room, Technical AnalysisThe Dollar is looking bearish to start the week and as a result, USDCAD is also looking to head lower. Conversely, US Oil is gearing up for a rally to this year's high.
Traders should expect the Dollar to revisit 92.00 at some point this…
Dollar Facing Pressure From Bears + AUDUSD Swing Shorts
Forex Trading Analysis, Live Trading Room, Technical AnalysisDollar bulls are facing a tough task to fend off bears as they push the US Dollar Index (DXY) lower. Meanwhile, traders are setting up to take swing shorts for AUDUSD.
After creating a new high for the quarter, the Dollar saw immense pressure…
US Oil Eyes 70.00 Per Barrel + USDCAD Long Trade Setup
Forex Trading Analysis, Live Trading Room, Technical AnalysisCrude oil (US Oil) prices are down 2.50% for the day as bears look to visit $70 per barrel. Conversely, USDCAD is looking to push higher as Dollar bulls pick up momentum.
After attaining $77 per barrel, bears were able to take price in a…