by Michael Bridgman | Jul 30, 2020 | Forex Tips
In June, Federal Reserve Chairman Powell stated, “We’re not even thinking about thinking about raising rates.” Yesterday he didn’t make any new quotable remarks. It appears that the Fed will be on hold for a very long time and the equity markets like it… and the USD...
by Michael Bridgman | Jul 28, 2020 | Forex Tips
The USD which has moved sharply lower throughout the month of July had a bit of a reprieve today as we approach month end. With sentiment being more cautious today after equites performed well on Monday, a short was taken in the USDJPY risking 15 pips for a...
by Michael Bridgman | Jul 22, 2020 | Forex Tips
As the USD continues to weaken, the other majors strengthen to it – except the JPY today. The USDCAD closed below a very important technical level on the daily chart Tuesday. Today the move continued lower after an initial run higher early in the U.K. session....
by Michael Bridgman | Jul 21, 2020 | Forex Tips
The coronavirus and pending fiscal stimulus package in the U.S. is currently weighing on the USD. The DXY has moved below its June low. A test of the March low looks like the next target. As the USD continues lower and the “risk on” sentiment continues a...
by Michael Bridgman | Jul 16, 2020 | Forex Tips
On a day when global equity markets were lower, the GBPUSD managed to move higher. The pair had momentum going into the U.S. session overlap and as it pushed higher a long was taken risking 16 pips for a potential 47 pips to our daily target at 1.2613. Despite...
by Michael Bridgman | Jul 2, 2020 | Forex Tips
The market was very interested in the NFP number today which was very positive for the U.S. It took a bit of time for the USD to move upward, but the majors eventually turned to reflect a stronger dollar. We entered the GBPUSD short risking 20 pips for a...
