The US Dollar still portray the tendency of heading for some gain in the new week as Federal Reserve pushed back on market expectations for an early end to the aggressive interest rate hikes to combat inflation. From a technical standpoint, the consolidation phase characterized majorly by selling pressure from the $1.19700 area during last week's trading session might continue this week as a retracement into the either the trendline or $1.14000 area in anticipation of a continued bullish momentum is a strong possibility.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
The week has started on a bearish tone as the price tested the bearish trendline which shares a confluence with the key level at 1.1900 to push the price to the downside. So, for this week we shall be using the bearish trendline as a yardstick for trading opportunities.Good morning
Trade active
We discussed this during our live session this morning (video uploaded on youtub). Secure the sell position as we keep the option of a retest of either the bearish trendline or previous structure for a trend continuation to the downside. Trade active
Securing sell position as price action comes back into the trendline. Still looking forward to adding one more position at the breakdown/retest of the 1.18375 level.Good morning
Trade active
Triggered; securing the position as we lookout for opportunities to add more position(s).Trade active
Selling pressure continues to exist under the 1.19000 level, secure the sell position as we look forward to adding more positions below the 1.1900 level. Remember that we have major events coming up today (S&P Global/CIPS Services PMI, Durable Goods Orders, Nondefense Capital Goods Orders & FOMC Minutes ).Trade active
Taken out of the sell position as buy pressure increases above the 1.19000 level in the last hour and this might be a reflection of the positive data from the recent publication from S&P Global. Let's be patient and see how price action relates to the current structure before making a decision.I am going live in 5 minutes, you might want to join us.
Trade active
FOMC coming up in 10 minutes... A huge spike is very likely at this juncture.Trade active
I must agree that I missed this bullish move. Congrats to those who took advantage of this move. It looks like a retracement phase is about to begin. Hence a breakdown/retest of the temporary trendline is what to lookout for.Good morning
Trade active
After missing out on the bullish move yesterday, I can only wait for a retracement phase to happen before thinking of buying at this juncture.Trade active
Sell pressure continues below the 1.21150 level as projected.Good morning
Trade active
We talk about this at at length during our live session today (video uploaded on my youtub channel); Its time to secure the sell positionTrade closed manually
Price takes out position at break even; I am done for the week.Congratulations on the profitable journey this week!
Trade active
Secure positionTrade active
Secure position as price hits the buy zone
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.