There was some crazy moves going on yesterday post Fed announcement. Looking for the market to settle and present some good trading opportunities.
It is likely that the impact of last weeks Fed is still feeding through.
Prices are still correcting and we need to see if dollar strength is going to continue or maybe we are witnessing a top.
Calling tops is a dangerous game so we need to wait for further clarification.
The dollar is still under pressure and it may continue through the week. The Dollar Index is at a key level and it will interesting to see how price unfolds. Are we still in a correction or will signs of a reversal present itself?
We are neutral on DXC and EURUSD until we see key resistance levels either respected or broken. S&P I expect sideways chop and then a follow through breaking previous highs.
Not much change from yesterday. I still see price correcting and do I am not considering it to be a reversal until I see further clarification.
The Dollar Index is grinding lower but unless it makes new lows and breaks the key resistance I still anticipate the trend will resume.
USDJYP looks like it could have some room for some short side potential with a near term target of around 118.30.
I still see the S&P testing previous highs
The dollar Index looked likely that it might try and break through in the early session but there was support once again at the key level I have noted. We are now seeing some conviction off these lows. It could be early signs of the trend resuming.
EURUSD is showing possible signs of the down trend resuming. It is early stages so we will have to wait and see. It did try popping higher but the 200 MA got in its way!
S&P fell hard and I was incorrect in saying it would re test the highs. It came down to support and has respected that level.
Yesterday’s trade idea played out nicely on USDJPY, it did break lower, hit target and then found support and has retraced back to the original entry. Well done if you traded that!
The markets have been fairly quiet this week with lots of choppy price action. The Fed announcement last week moved prices but there hasn’t been any follow through during the week.
I expect the markets to remain flat until Yellen, we may see some volatility before the markets close for the weekend.
[QUOTE=“VeerTrade;691853”]The markets have been fairly quiet this week with lots of choppy price action. The Fed announcement last week moved prices but there hasn’t been any follow through during the week. I expect the markets to remain flat until Yellen, we may see some volatility before the markets close for the weekend. <img src=“301 Moved Permanently”/> <img src=“301 Moved Permanently”/> <img src=“301 Moved Permanently”/>[/QUOTE]
Nice clean chart. I can understand what your thinking.
Thank you MikeCa
We are seeing some corrective price action in S&P and dollar strength.
A busy shortened week ahead so we could see some nice moves.
AUDNZD has been a good performer breaking the lows with a target of 1.00000
Prices playing out as expected. Dollar still showing strength with AUD and EUR under performing. Looks like we may see some trend continuations by the end of the week.
You are welcome!!
Hi guys!
Well the markets have definitely fooled me on the 1st April!!!
I am still bullish Dollar but with caution. Price action has been choppy and I am getting some mixed signals.
I suspect we might have to wait until the NFP report which could be the catalyst to get us out of these sideways markets.
I will remain on the sidelines until we get some further clarification on price action.
Sterling has been the best performer so far today!
Hi Guys
So as expected the market appears to be waiting for the NFP which is to be released tomorrow. I will be eagerly awaiting the report to see if the Fed will reveal anything they plan to do regarding the interest rates.
I expect low volatility and choppy price action until the release.
Very hard to predict how the markets will react but here is my take prior to the weekend.
Hope you all have a great Easter for those who are celebrating.
