Forex Market News
Just when you thought you could take a break, here comes what could well be the biggest week of the month !!!
Now with the FOMC out of the way and the FED completing its tapering of its QE bond purchasing program, and more importantly giving further indication of a ‘substantial improvement in the outlook for the labour market….’, all eyes are now on next Friday’s US Payrolls and Unemployment data. Will President Obama again give a clear indication of strong employment data (like last month), and I’m sure the Fed have seen the numbers as well !! 2 + 2 = 4 still doesn’t it !!?!
So, as Barrack puts it, the employment issue has now been solved………….( 250k+ ?, 5.8% ? ),………… we now we have to look at and INCREASE wages growth !!! ( So why were you pumping billions of dollars into a monetary system that’s broken and failed and has only benefited the wealthy 10% of the population and no one else ??!!! Don’t get me started !!!! God bless America !!!)
Anyway, the USD is back ! This should hopefully lead to some phase 1 USD buying setups, which I’ve already been through on the charts on the Mid-Week Market Focus and last night’s Live Trading Webinar !!
EUR should continue to remain under pressure after the short squeeze into the FOMC with bearish price action driving us back toward the recent low in EUR/USD at 1.2500 ! Next target 1.2040ish !! OK well maybe a few stops on the way but technically that’s where we are heading.
While we are on EUR, get on the EURGBP continuation of the downtrend , taking advantage of the disparities between the respective economies as we look for a test of the lower downtrend channel on the 77 handle or below around support at 0.7675ish !! Please note we have the ECB meeting next week on Thursday where we wish Mario Draghi all the best in solving Europe’s continuing woes, hey maybe try buying government bonds like the FED ( a few years later !! ) !!!? Stay short EUR against anything and everything !!!
ALERT ALERT !! A massive move from the BOJ ! They announce further easing measures as we speak ! Unexpected ! USD?JPY moves from 109.35/40 to 110.25 !!! New highs breaking previous 110 high !! I hope a few punters followed my trade call !! See you at 112.50 !!
If you want to know more, please log into the webinars and the Live Trading sessions !!
Admire Rakti , Fawkner or Lucia Valentina !! Nice trifecta !!!
Good luck !!