ForexYell

ForexYell

Since February, AUDUSD has bounced off of key support in the 0.7550/0.7600. We're now testing that level again only a few things have changed: Retail Bullish Sentiment is near its most bullish for 2015 at 3:1 Traders Bullish Overnight Index Swaps are increasingly pricing in a Rate Cut by the RBA US Data is Strengthening, which increases the odds of a US...

ForexYell

Sterling has three components working in its favor. First, the fundamentals, which show wage pressures are increasing faster than other G4 counterparts in US, EU, & Japan. Wage inflation is a strong predecessor to actual inflation, which is seen as the key component that will push the BoE, or any central bank, to begin raising rates. Second, the charts are...

ForexYell

The long-term USD trend is up However, sentiment and volume as per FXCM's 188,000+ client base on recent USD Strength shows that traders aren't endorsing the move higher. Resistance 2: 12,044 Resistance 1: 12,024 Spot: 11,894 Support 1:11,828 Support 2: 11,744 A break of support would validate the view of Summer USD weakness and turn to an outright short USD...

ForexYell

There has been a clean inverse relationship in the DAX Stock Index and the EURUSD. This means that a top in the DAX has correlated with a low in the EURUSD. Since we've traded lower on the DAX from the mid-March & mid-April highs, EURUSD has pushed higher. If DAX makes another move lower, that would favor a push higher in EURUSD. A move higher in EURUSD is...