by Michael Bridgman | Jan 19, 2022 | Forex Tips
The CADJPY began the U.K. session moving higher before ranging for three hours going into the U.S. session overlap. Price attempted to push higher briefly, but was unable to close above its Asian high and formed three bearish hammer candles. A short was taken...
by Michael Bridgman | Jan 15, 2022 | Forex Tips
First we had Federal Reserve Vice Chair Lael Brainard saying the central bank should soon moderate the size of interest rate hikes, signaling she is favour of half-point increases as early as December. Today we had PPI data which came in weaker than expected...
by Michael Bridgman | Jan 11, 2022 | Forex Tips
As the EURUSD closed above 1.1335 today, a long was taken requiring an 8 pip stop loss for a potential 38 pips to our daily target at 1.1375. The first area to get through was the 1.1350 level which price did with ease as the USD exchange rate weakened amongst the...
by Michael Bridgman | Jan 7, 2022 | Forex Tips
The event risk today was the U.S. NFP release. An hour after the release, the USDCAD moved convincingly lower and closed beneath the 1.2700 figure. A short was taken risking 20 pips for a potential 76 pips to our daily target at 1.2617. The USD was weak today and the...
by Michael Bridgman | Dec 22, 2021 | Forex Tips
Some days trading is much easier and more rewarding than other days. The USDCAD went sideways through the first half of the U.K. session and made a very brief attempt to move higher as the North American traders began trading. A double top formed and the USD began...
