by Michael Bridgman | Jan 31, 2022 | Forex Tips
After the U.S. traders got underway today, the USDCAD made a lower high which was followed by a double top and reversal pattern… closing beneath 1.2750. A short was taken risking 19 pips for a potential 78 pips to our daily target at 1.2670. Price moved lower going...
by Michael Bridgman | Jan 21, 2022 | Forex Tips
Canada’s economic releases today came in below expectation. As the equity markets continued lower this week, the markets were in “risk off” sentiment… which tends to move flows to the JPY. A short in the CADJPY was taken risking 10 pips for a potential 22 pips...
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...
