Engulfing Candle Patterns & How to Trade Them
Trading with Engulfing Candlesticks: Main Talking Points Engulfing patterns in the forex market provide a useful way for traders to enter the market in anticipation of a possible reversal in the trend. This article explains what the engulfing candle pattern...
Elliott Wave Analysis: Bulls Pushing AUDUSD Towards 0.70
Aussie remains under bullish pressure towards 0.70 area and seems like it’s trying to break above channel resistance line which would confirm a rally within wave iii). However, as long as price keeps trading above 0.6900 region, we will remain...
Australian Dollar Shrugs off RBA Rate Cut, Soft Retail Sales
AUD/USD has posted small gains in the Tuesday session, after starting the week with considerable gains. In North American trade, AUD/USD is trading at 0.6989, up 0.16% on the day. In economic news, Australia retail sales fell 0.1%, the first...
The Yield Spread Albatross Around USD/JPY’s Neck
In the past 24 hours, we’ve touched on potentially bullish setups in EUR/USD and AUD/USD, mirroring the potential topping pattern we’re seeing in the US dollar index itself. Continuing with that theme, USD/JPY looks increasingly susceptible to more downside even...
Dollar Turns Mixed as Risk Aversion Recedes Mildly, Overall Markets Mixed
While Dollar has been pressured for most of the day, receding risk aversion seems to be giving in a hand in early US session. The greenback is riding on recovery in both US yield and stocks and trades mildly higher....
Investors want a Fed rate cut before economy turns: ‘Risk becomes greater the longer you wait’
If the Federal Reserve meets market expectations and cuts interest rates this year, it would be more to assuage flagging confidence than it would be to address any particular ill. After all, most of the signs for the economy remain...
Don’t rule out a June rate cut due to ‘collapsing’ inflation signs, market bull Tony Dwyer says
Market bull Tony Dwyer sees an interest-rate cut coming sooner than much of Wall Street anticipates. According to the Canaccord Genuity chief market strategist, the move could happen as soon as the next Fed meeting, set for June 18-19. “The...
The US Dollar Is Declining Due To Global Risks
The US dollar weakened against a basket of major currencies due to the impact of trade conflicts on the country’s economy. The dollar index (#DX) closed in the negative zone (-0.62%). Global trade relations are escalating. Yesterday, the President of...
China warns citizens against travel to the US
A group of Chinese tourists take photographs on the National Mall with the U.S. Capitol in the background on April 23, 2018. Robert Alexander | Archive Photos | Getty Images Beijing has stepped up its warnings against the U.S. by...
Dollar Decline Accelerates on Falling Yield and Stocks, Trade Wars and Fed Cut Talks
Dollar suffered another round of selloff this week and remains broadly weak today. Free fall in treasury yields continued overnight with 10-year yield closing at 2.081, down -0.061. 2% handle is now looking vulnerable with current downside acceleration. Tech stocks...
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