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Webinar: Trading Price Action in USD Trends

Webinar: Trading Price Action in USD Trends

James Stanley, Senior Strategist

Talking Points:

- This video is an archived webinar from a previously-hosted session, based around using price action to analyze current market conditions. To see additional webinars, please visit our webinars calendar page.

- The primary focus for this webinar was Price Action in the US Dollar after the Brexit referendum. After it became clear that voters in the U.K. had elected to leave the European Union, investors made an active move of risk aversion with assets such as the US Dollar, Gold and Government bonds seeing huge buying interest. The big question is whether or not this swath of USD-strength might continue.

- We looked at a possible long-USD formation against the Euro. European stocks have been hit harder than those from the U.K. post-Brexit, raising the possibility that Europe may have more at risk around this scenario than even Great Britain. EUR/USD is showing near-term resistance around old support, but a deeper retracement could produce a more attractive short-side setup.

- We then moved on to look at GBP/USD, which we had also discussed in yesterday’s Technical Analysis article. I’m looking for a deeper retracement here as well, with an interesting zone in the ~1.3850-neighborhood.

- Another long-USD setup could be sought out against the Swiss Franc. The Swiss National Bank intervened after Brexit to quell Franc-strength. This could be beneficial in long-USD setups, as the prospect of a Central Bank actively weakening their own currency could create an attractive back-drop to stay short of that currency. For more details behind this setup, please read our USD/CHF Technical Analysis article from yesterday.

--- Written by James Stanley, Analyst for DailyFX.com

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