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Dollar index sets new lows in this latest decline. We now have a unified theme of weak US dollar and a true bias for February.
Still not sure about renko charts? If you are not convinced, take a look at yourtradingroom.com/blog
EURUSD hitting sell stops below low of last three days. Downward momentum should begin to lessen within the hour.
Equity market rally has US dollar down, crude oil back above 100 and metals rising. Continued rally in primary session will continue trends.
AUDUSD has reached upper YTR volatility bands and this has stalled the recent rally. 1.0752 is Oct weekly high.
By popular request, our daily blog takes a look at the correlation of moving averages and the CCI indicator yourtradingroom.com/blog/
Four hour charts in many currencies currently imply the correction which began in US session has more to go as we head Friday's trade.
FOMC minutes and the promise of low interest rates shock the forex currencies. Take a look at recent price movement. yourtradingroom.com/blog/
Latest EURUSD decline may have been just a correction as AB=CD pattern may have been completed Bears need the Fib retracements to stop rally
EURUSD sell stops may rest under 1.2950. Large decline of past two hours should lose downward momentum within 2 hours.
Crude oil weakness not a surprise after commodity could not hold above 100Decline helping USDCAD rally. Metals decline with US $ advance
Prices in many currencies are correcting their recent advances. All eyes on EURUSD and whether 1.2900 holds decline.
Swing Blaster update posted in the Forum. New trade potential Long USDCHF
Do you scalp the currencies with a small time or range chart? Take a look at using an alternative 3 pip renko chart. yourtradingroom.com/blog/
Do you scalp the currencies with a small time or range chart? Take a look at using an alternative 3 pip renko chart youtu.be/4Z_i9d5Ib4c
Watch for whether resistance in USDCHF at .9285 area tunrs into future support. This may support subsequent rally in US session.
Inventory release important this week, as crude oil unable to hold above $100
Rather than having sizable corrections, many currency pairs are merely moving sideways creating a time correction in the recent fall in US $
We mentioned the change in direction in the natural gas yesterday. Prices did hold 2.40 and now trade at 2.63. Watch for possible boottom.
US dollar is mixed as some of the stronger trends in the AUD and NZD take a rest, while the Euro and CHF continue to correct their trends.
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