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GBPUSD and NZDJPY Swing Longs Active For Next Week!

GBPUSD and NZDJPY Swing Longs Active For Next Week!

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As expected, the US Dollar Index took a tumble and went as low as 90.170 for the day. Price action analysis forecasts further Dollar weakness for next week. As a result of the weakening Dollar, the Pound has started to resume its previous…
US Oil Almost at $60 + GBPJPY Long for Next Week (edited)

US Oil Almost at $60 + GBPJPY Long for Next Week

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The lack of fundamentals this week allowed traders to take full advantage of the charts without worrying too much about unexpected noise. In addition, pairs like GBPJPY are setting up for longs that can be taken next week. Amidst all the…
GBPUSD Profits +US Oil Long in Profit

GBPUSD Profits + US Oil Long in Profit

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After breaching 91.00, the DXY had a hard time going any higher than 91.20. With this brief moment of weakness, trade setups for GBPUSD and US Oil were able to move into profit. Price action analysis for GBPUSD showed a potential rally back…
DXY to 91.90? + USDJPY Swing Long Priming

DXY to 91.90? + USDJPY Swing Long Priming

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The Dollar has some life to it as the DXY is up +0.50% for the day. The next target may be 91.90 leaving the door open for USDJPY longs. For the past six weeks, the DXY has been capped by 91.00. Price was able to push up to this level on…

USDJPY & GBPJPY Swing Longs for Next Week

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This was a peaceful week to trade and was a fantastic way to end the first month of 2021. Other than the FOMC rate decision, this week was clear of fundamental news. These stable conditions will be short-lived as we have the Non-Farm Payroll…
GBPJPY Priming for Long + DXY Edging Higher

GBPJPY Priming for Long + DXY Edging Higher

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The US Dollar Index (DXY) made one last honest attempt at attaining 91.00, but once again, price came up short. This failure was then followed by a sharp selloff back down to 90.40. As a result of the Dollar's indecisiveness, certain pairs…
NZDUSD Profits + GBPJPY Long

NZDUSD Profits + GBPJPY Long

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Since yesterday, the US Dollar Index has gone from giving signs of weakness to surging strongly to the upside. Despite the DXY failing to meet 91.00, the brief bullishness allowed traders to cash in on shorts for the majors. One major that…
GBPUSD and NZDJPY Long Before FOMC

GBPUSD and NZDJPY Long Before FOMC

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The trend is usually your friend, especially on the higher timeframes. Despite the recent rallies, the US Dollar Index is conforming to the long-term downtrend and is headed lower. With the Dollar down -0.26% for the day, many majors are…
Manufacturing Data and USD Strength + GBPUSD Priming for Long

Manufacturing Data and USD Strength + GBPUSD Priming for Long

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Today's Philly Fed manufacturing data came out exceptionally well, as the data printed a result of 26.5 versus the forecast of 11.2. Despite this result, the Dollar has found itself down 0.42%. As expected, the long-term downtrend for the…
USDCAD Final Target Achieved + GBPUSD Intraday Short

USDCAD Final Target Achieved + GBPUSD Intraday Short

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Joe Biden has officially been inaugurated as the new acting president of the United States. Surprisingly, the markets had a dull response to his ceremony and speech. Short-term technicals point to a bullish Dollar, while the long-term downtrend…