Top Global Market Stories
The dollar was trading higher against most of its major rivals on Tuesday as traders eye the Fed’s rate statement and press conference on Wednesday amid uncertainty over the bank’s next move. Official data released Tuesday was mixed and largely ignored by traders who are more concerned by what the Fed has to say. U.S. [...]
Top Trade Ideas
Shorting USDJPY Again After our successful short of USDJPY, which quickly hit our targets, I’m now expecting a short-lived bounce. The main reason for this would be the minor support level that has formed in near .9400 over the past three sessions. The lows for those sessions are: 93.78, 93.97, and 94.09. Clearly, someone is [...]
Prices declined as expected after putting in a Bearish Engulfing candlestick pattern. The pair is now showing an Inverted Hammer candle above support at 93.88, the 76.4%Fibonacciretracement, hinting a bounce may be ahead. Initial resistance is at 95.76, the 61.8% level, with a break back above that eyeing trend line support-turned-resistance at 96.21.Alternatively, a reversal beneath support exposes swing lows at 92.56 and 90.84.