Dollar Weakness Rising Across The Board Amid FOMC Rate Cut

This last week had some historical changes, as Powell and the Federal Open market Committee (FOMC) decided on a 25 basis point decrease in the federal funds rate this past Wednesday. We saw massive sell of the US Dollars but was somewhat halted on Friday when positive non farm payrolls came out. Overall we still have dollar weakness across the board, but we are proceeding with caution as all other macro indicators remain positive for the dollar.

eur/usd

Analysis: This shows the weakness in the dollar as the pair broke out of its downtrend, which was there all of the previous weeks. However, the last two days of this week the price was stuck in a sideways range. As such, we will keep an open bias moving into the new week.

Manipulation Points: Upper – 1.1176   Lower – 1.1125 & 1.1073

aud/usd

Analysis: Similar to most dollar-based pairs, Thursday and Friday both moved sideways and nullified any long bias you might have on the pair due to the rate cut.

We would be looking to trade levels on both sides of the price.

Manipulation Points: Upper – 0.6929   Lower – 0.6880 & 0.6810

Gbp/usd

Analysis: We had two sideways days on Thursday and Friday. So we would be having an open bias as well on this pair. Recognizing the existing dollar weakness, we are leaning more to levels in the long direction.

Manipulation Points: Upper – 1.2925 & 1.3008   Lower – 1.2849 & 1.2808

usd/jpy

Analysis: Here we had price continue the sell-off in the dollar on Thursday, creating a valid 1^st push to the downside. While the price made a short correction on Friday, it still didn’t invalidate the bias.

So, we are trading for the second push to the downside.

Manipulation Point: Upper – 108.31

nzd/usd

Analysis: We made two sideways price action on this pair on Thursday and Friday. So despite the dollar induced bullish move, we are trading manipulation points to both sides of the price.

Manipulation Point: Upper – 0.6454   Lower – 0.6394 & 0.6368 & 0.6336

gbp/jpy

Manipulation Point: Upper – 140.63 & 141.33   Lower – 139.53 & 139.07 & 138.70

eur/Gbp

Analysis: Another range-bound market. This pair has stayed within this range for over two weeks now. We still hoping to catch a good long or short from the lower or upper bound.

Manipulation Points: Upper – 0.8693   Lower – 0.8581

Important Disclaimer: At Day Trading Forex Live (DTFL), we have specific entry, exit, and trade management rules that are used for trading these levels. You should not blindly enter the levels without first doing your own research and ensuring you have a trading plan in place.

If you would like to learn more about the bank trading strategy, member’s community, and live training room, you can do so by Clicking Here.

Happy Trading

Sterling

* This article was originally published here

Conference Board consumer confidence for December is 126.5 versus 128.4 estimate - ForexLive

Conference Board consumer confidence for December is 126.5 versus 128.4 estimate  ForexLive

* This article was originally published here

Selling the Aussie Dollar and EUR today – Currency Strength and Weakness for Monday 16th December 2019

Selling the Aussie Dollar and EUR today – Currency Strength and Weakness for Monday 16th December 2019 Hi Forex Trader, I make my Currency Strength and Weakness suggestions every day based on where I see the market heading over the next 24 hours. Use my analysis below to aid your trading and to help you […]

The post Selling the Aussie Dollar and EUR today – Currency Strength and Weakness for Monday 16th December 2019 appeared first on Online Forex Trading Course.

* This article was originally published here

Crude oil ends the year with Nasdaq like gains - ForexLive

Crude oil ends the year with Nasdaq like gains  ForexLive

* This article was originally published here

31.12.19 Forextrade1 - Copy Trading 2nd Live Streaming Profit Rise To $2900k From $1260k Video.

31.12.19 Forextrade1 - Copy Trading 2nd Live Streaming Profit Rise To $2900k From $1260k
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31.12.19 Forextrade1 - Copy Trading 2nd Live Streaming Profit Rise To $2900k From $1260k Video.

31.12.19 Forextrade1 - Copy Trading 2nd Live Streaming Profit Rise To $2900k From $1260k
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USD Strength Rising Amid Trade Talk Progress – Nov 10th, 2019 Weekly Forex Analysis

We saw markets react to the somewhat positive news coming from the US and China in regard to potential tariff agreements. They both decided to rollback on the ongoing tariffs as part of phase one of the trade deal. This gave a boost to the dollar across the board as we saw the USD gain against all the majors. 

In regards to the forex bank trading strategy, the EUR/USD complete a three-cycle push to the downside. This week we will continue to lean towards Dollar strength across the board until shown otherwise with a upward market cycle. 

eur/usd

Analysis: This pair made the complete 3 pushes to the downside last week. So, we have to open up the bias moving into the new week, but we currently have no lower levels, so we are listing all the upper levels.

Manipulation Point/s: Upper – 1.1057

GBP/usd

Analysis: The pound has been in a downtrend for the whole of this last week but only made a valid first push to the downside on Thursday. So we would be trading for the second push in that same direction.

Manipulation Point/s: Upper – 1.2795 & 1.2837

AUD/usd

Analysis: Here, we had a double top form on Thursday, and it was followed by a clean 1^st push to the downside on Friday. This is a classic example of how bias is created. Now we would be trading for the 2^nd push to the downside.

Manipulation Point/s: Upper – 0.6869

usd/chf

Analysis: Continuing the bullish run for the dollar, here we also have had two clear pushes to the upside on Tuesday and Thursday. As Friday did not nullify the bias, we would be looking to trade for the 3^rd push to the upside.

Manipulation Point/s: Lower – 0.9943

usd/cad

Analysis: The market here broke out of the range held for most of the week and made a valid 1^st push to the upside. So we are looking to trade for the 2^nd pushup in favor of the strong USD.

Manipulation Point/s: Lower – 1.3203

nzd/usd

Analysis:  Here, the market broke out of the range on Friday, making a valid first push to the downside. So we are trading for the 2^nd push to the downside.

Manipulation Point/s: Upper – 0.6344

eur/jpy

Analysis: We have a clear range-bound move on this pair. We will continue to trade with an open bias, looking to go long from lower manipulation points and short from upper levels.

Manipulation Point/s: Upper – 121.24 & 121.46    Lower – 120.15

eur/Gbp

Analysis: This Pair is still moving in the sideways price action, which it has held for weeks now. We would be keeping our bias open as we have done so far in anticipation of catching the possible reversals from the upper and lower bound of the range.

Manipulation Point/s: Upper – 0.8666  Lower – 0.8581

Important Disclaimer: At Day Trading Forex Live (DTFL), we have specific entry, exit, and trade management rules that are used for trading these levels. You should not blindly enter the levels without first doing your own research and ensuring you have a trading plan in place.

If you would like to learn more about the bank trading strategy, member’s community, and live training room, you can do so by Clicking Here.

Happy Trading

Sterling

* This article was originally published here

Weekly Forex Trading Calendar for Week of December 30, 2019

We have just posted our weekly news trading calendar for the week of Dec 30, 2019. You can download the pdf and excel file by clicking on the Read More Link. These are soft biases on economic data and not trades that we directly trade or track like BK Swing and News.

Excel version of calendar123019

PDF version of calendar123019

* This article was originally published here