Forex Trader Daily
The USD/CAD daily chart is pulling back today. The crude oil market is has also bounced from a 50.79 low. The rebound successfully tested the minor “80″ psychological level and is trying to find its way back above the 53.00 level. The daily canada in the meanwhile has traded down to the the 34EMA high [...]
The crude oil market continues to find buyers as prices found there way back above the 50 dollar decade level.
The rally has weakened the U.S. Dollar which was battling with the 88.00 level…trying to find footing above this level - something it has not done since April 2006.
The rally in crude is hitting some formidable [...]
The EUR/USD rallied strongly on the U.S. Dollar weakness. The move was a single session rally that carried prices to the 34EMA low which sets up a swing short opportunity.
It’s the U.S. Dollar Index though that will be a key indicator as to whether the current fiber rally will be hitting a ceiling. That key [...]
This is a potentially very active week for the aussie. Let’ take a look at some important charts to consider:
The AUD/USD could ride 180 and 240 minute chart support up to the major 0.7000 psychological level. This could set up a short on the daily chart for a “one thing leads to another” set up.
There [...]
Crude continues to consolidate just under the 70 dollar level and this has put the U.S. Dollar Index in a position to try and rally for the 86.00 again. But any break of this level would requite crude to break below the 65.00 level and stay there for any sort of dollar rally to stay [...]