Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
post-Rate Hike Dollar Blues: Price Action Setups

post-Rate Hike Dollar Blues: Price Action Setups

- If you’re looking for trading ideas, check out our Trading Guides. And if you’re looking for ideas that are more short-term in nature, please check out our Speculative Sentiment Index (SSI) Indicator.

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Talking Points:

- In this webinar we used price action methods to look at macro markets, with specific emphasis on price action post-Rate hike (two weeks ago).

- Since that last rate hike from the Federal Reserve, the U.S. Dollar has been unable to catch a lasting bid and the S&P 500 has begun putting in bearish price action with a sequence of lower-lows and lower-highs.

- We started off by looking at GBP/USD ahead of tomorrow’s Article 50-trigger. Cable has put-in a rather clean up-trend, but the longer-term range still very much applies. We looked at an area to watch for near-term resistance in the effort of playing continuation of the shorter-term bullish trend into the longer-term batch of resistance.

- We then moved over to EUR/USD, which set a fresh four-month high yesterday. The big potential here would be continued strength in the Euro-zone denoting the potential for tightening from the European Central Bank. We looked at an area to watch for higher-low support to develop around 1.0750-1.0820.

- We then moved over to USD/JPY as a mechanism for USD-strength. USD/JPY is running against a pivotal level of support around the ¥110.00 handle on the pair. This is a confluent batch of support, and this could be attractive for bullish approaches.

- We then looked at AUD/USD as another setup for USD-strength. Aussie reacted off of a months-old trend-line last week, and thus far this week has continued in that direction. This could be attractive for continuation approaches provided that a lower-high presents itself.

- We then looked at USD/CAD with an interesting zone of potential resistance. If price action in USD/CAD can climb over the 1.3400 area, this can open the door to bullish approaches.

- We then closed with GBP/JPY, as the pair is running around a longer-term level of support.

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

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Contact and follow James on Twitter: @JStanleyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES