Talking Points: EUR/USD Technical Strategy: FlatEuro Drops to Two-Week Low vs. US Dollar Amid Fed Rate Hike AftermathRisk/Reward, Tactical Considerations Argue Against Taking Short Position The Euro is facing swelling selling pressure against the US Dollar in the aftermath of the FOMC monetary policy announcement, with prices dropping to a two-week low. The pair topped below the 1.11 figure having rebounded following the ECB rate decision.Near-term support is in the ...
Talking Points: -US Dollar Technical Strategy: Bullish Off 100-DMA into FOMC -Consolidation before FOMC Statement Favors Upside -Trader Sentiment Ahead of FOMC Flashing Contrarian Bullish Signals Ahead of the December 16, FOMC meeting, markets are pricing in a 74% probability of a hike with a near 40% chance of an additional 25bps hike in March. In recent trading, the US dollar has seen the 100DMA near 12,040 act as firm support and going through FOMC, we can ...
Talking Points: -USD/CAD Technical Strategy: Stay With Trend Above 1.3456 -USD/CAD Has Been Pushed Higher As WTI Crude Oil Prints 6-Year Lows USD/CAD punched higher to new 11-year highs and looks poised to close in on the 2004 high of 1.3908. There is a lot of doubt surrounding the US Dollar going into December 16, the date the Federal Reserve is presumed to announce a rate hike and lay out the requirements for subsequent hikes. Though it may appear tempting to sell ...
Talking Points: Support: 2089.40, 2081.20, 2072.90Resistance: 2099.50, 2115.90, 2137.10 The SPX 500 turned downward anew after finding resistance above the 2100.00 figure, dropping the most in five months. A daily close below the 38.2% Fibonacci expansion at 2089.40 exposes the 50% level at 2081.20. Alternatively, a reversal above the 23.6% Fib at 2099.50 clears the way for a challenge of the July 31 high at 2115.90. ...
photo by Jurijs Suhodolskis
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