A1 Trading Company

Ticker tape by TradingView

July 26, 2022

Best Pairs To Trade Before FOMC

Frank Cabibi

Tomorrow, the FOMC outlook will give investors a gauge on what could come next for the US economy and USD. This news will be followed up with the new interest rate which is expected to go up by another 75 basis points. Here are the best pairs to trade before we get the news.

EUR/USD

best pairs

EURUSD caught support as price fell to the downside and touched a lower low on the 1H timeframe. There is a chance for upside, but the rally has not been very promising or strong in a sustainable way. If price does see more of a rally, it could touch 1.02700s before retracing. However, it looks like price wants to continue to the downside after breaking under support in the 1.01300s.

Gold

best pairs

Gold struggles to get out of the support zone as long setups have only been working for quick and volatile moves upward before retracing back to new lows. Price still has support around the $1670s but could also come up to test the falling trend line on the 1D timeframe or resistance in the $1780s. An interest hike could take the metal lower, so price may come down to the second price target.

USD/JPY

best pairs

USDJPY hit a key support level on a rising trend line on the 4H timeframe. Price bounced from that level and has formed higher lows from there. Should price continue to steadily climb, there is resistance above at 137.500 and close to 139.

SPX500

best pairs

Stocks retrace on big tech earnings anticipation and even the recession-proof stocks like Walmart on a cut in profit outlook. Some support lies about 10 points below current price and cleaner support sits below that around $3744. Signs of the bear market rally being over might have started, and we may return to the lows of $3640 or lower.

AUD/USD

best pairs

AUDUSD could be trying to go higher towards resistance around 0.70455 on the 1D timeframe. Price could also retrace from the current resistance level on the falling trend line with support below at 0.68301 and a previous bottom at 0.66821.

A1 Edgefinder

Smart Money Tracker
See where big money is flowing with the A1 Edgefinder's smart money tracker! With one click, see where the biggest money flows are entering and exiting through COT data.

40% off code: 'READER'

GET ACCESS NOW

Subscribe

FREE ANALYSIS
Sign up for FREE trade alerts and Edgefinder forecasts!
SUBSCRIBE
Listen to More Episodes
Kiwi Dollar Spike Tomorrow?

While today is relatively uneventful in terms of major economic news around the world, this will not be the case for long. There is a chance that the forex market could witness a Kiwi Dollar spike tomorrow due to the Reserve Bank of New Zealand (RBNZ) announcing their latest interest rate hike at 8 pm […]

Read More
4 Pairs to Be Wary Of

As many of you already know, the EdgeFinder, A1 Trading’s market scanner software, can be incredibly helpful for discerning which securities are especially worth watching for potential trade setups. Whether you are planning on buying or selling a currency pair, commodity, bond, or more, EdgeFinder analysis is so robust that its ratings and biases can […]

Read More
UK CPI Data Mislead Markets Today

This morning at 2 am Eastern Time, the Office for National Statistics reported the latest monthly round of Consumer Price Index (CPI) and Core CPI increases within the United Kingdom’s economy. Annual CPI, which had been forecasted to hit 10.7%, instead jumped by an astonishing 11.1%, making for another multidecade high; annual Core CPI also […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
VIP
Menu
homesmartphonelaptopmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram