Sleepy first half of the day, markets might be waiting for US NFP on Friday
A good NFP will likely send markets lower as this will give the Fed the green light to raise interest rates now
Rise in interest rates should be good for the US dollar,
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Top Trade GBPNZD has been going strong for over a month now and looks ready to give us a new high and maybe our first 1000 pips trade of the year
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there is more before NFP, stay alert
For currency traders, the action heats up in the next 24 hours with the European Central Bank and Bank of England monetary policy announcements on Thursday followed by U.S. and Canadian employment reports on Friday. Even though non-farm payrolls is traditionally one of the most market moving events, we expect bigger moves for euro and sterling on the back of ECB and BoE. Dataâs primary value is to help investors anticipate changes in central bank policy and with market expectations set for the Federal Reserve and Bank of Canada, this monthâs U.S. and Canadian job reports should be less eventful.
Source: 60secondinvestor
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yes fok, you are correct sir.
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took my profits way too soon on this oneâŚnaughty me!!
Another down day for risk-on currencies, this could mean a rough day for US stocks
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Euro leads all currencies for the second day in a row, Does this make the Euro the new flight to safety currency?
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The Euroâs surge has been outstanding⌠and I donât trust itâŚ
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So itâs a fundamental move that doesnât meet your technical analysis boundaries
If the EUR pairs make consistent uptrends Iâll ride them long. if they donât, I wonât. I think they wonât, but Iâm happy if they do. Whatâs your view on recent EUR strength?
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I think its pure volatility injection to discount price for further Euro shorts!. Its failed to take out the 14 th Jan high on EurUsd to justify a trend change. Price is sitting on resistance on weekly charts without some strong upside momentum therefore still supporting a long term bearish trend. Im looking at shorting at 1.14347 with a profit target at 1.10119
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The Fed raising interest rates is almost certain to rally the USD, I would not want to be shorting the dollar here, but in this upside down world anything can happen
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Dennis these are very, very interesting times indeed. With such a stock market drop, I also expected the traditional safe haven currencies like the USD, CHF and JPY to naturally blast their way to the top 3. For me, the worst is yet to come. The Eurozone has its own long unresolved economic issues with interest rates never having been raised in over 10 years, if my memory serves me well. The Eurozone,as they say, will always be a failed political project. There is something strange unfolding before our eyes, In addition to what you do I also run a separate risk weighted index to understand market sentiment. What is happening now doesnât make sense at all. If what you are saying is anything to go by, then the upcoming market volatility will decimate a lot of traders including brokers. Many will be caught on the wrong side This brings the week of the 11th of Jan 2015 (SNB- CHF) event to mind. Anyone flipping through these charts will see that a black swan event is a given. I have already stopped holding positions over weekend, I donât trust this market.
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To a point I agree.
Except calling the EUR/CHF/SNB crash a black swan event - from a purely TA standpoint this was just a continuation move in a downtrend. It was a dramatic move but nobody with a price chart should have been on the wrong side of it.
Our best hope right now, as ever, is to be with the trend. The trend is set by the biggest players with the best brains, the fullest information and the fastest newsflow. Hard to fight that team.
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yes usd cad looks to be going up with aud usd going down
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AUD was todayâs leader
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Strong day for Yen pairs , NZD days at #8 may be numbered
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