6/17/2021
Yesterday afternoon, the Fed announced that they would raise interest rates twice by 2023 suggesting a stronger demand for the US dollar.
USDCHF is our hardest mover this morning reaching up to +0.85% at the time of writing this, and similar to USDCAD, the pair is right up against some heavy resistance on the 4H. There could be a potential pullback from recent highs, but a retest on highs will likely happen if price doesn't break resistance on the first try.
Down 0.73% on the morning, NU breaks out under a wedge and falls onto support around 0.70043 which appears to be a key level. Price will likely see further downside, but it could also come up and test resistance around 0.70428. The biggest level of support on this chart is where price bottomed at 0.69420.
EU getting crushed under the weight of the USD and the power of interest rates. Price has fallen to resistance 1.19205 and doesn't look like it wants to hold at this level. Lots of setups going on, and it looks like short entries are good a most resistance levels and breakout levels such as this current one.
Today's economic figures came out in US and Canada. GDP came in higher than expected in Canada while the price of goods purchased by consumers was lower than last month. Here are some pullback ideas for USD and CAD from GDP and PCE numbers. EdgeFinder Analysis NAS100 is a bullish reading on the EdgeFinder still. […]
This week has brought more inflation data with it regarding the USD's PCE and PMI numbers. Powell is also set to speak this Friday about monetary policy going forward. The RBNZ will also release their latest interest rate news tomorrow with expectations of an unchanged rate at 5.5%. EdgeFinder Analysis GBPUSD is a bullish bias […]
This week is a big PMI week for Europe, UK and US. Additional inflationary metrics will add to the overall sentiment of these countries' monetary policies going forward. Here are some setups for the coming week on these currencies. EdgeFinder Analysis GBPCAD is now a +7 on the EdgeFinder as we wait for CPI news […]
