Rodswingfx

Rodswingfx

Today's ISM services led to profit taking in the dollar. Strong Us economic data is key in the coming months. interesting if we can break and retest above Jan 2, 2025, high of 109.40. On another front, the relative strength index is now beginning to cross below 50. failure to defend the 108 area would then depreciate to a price of 105.50, a major structural...

Rodswingfx Updated 

Dxy on Friday saw a rejection of 105.40 with jobs report reading of 227k beating October print of -28k closing the week at 105.97 this area is interesting because of a higher low from rally on November 24. looking ahead cpi on Wednesday could provide fresh direction. capturing a move above 106.35 could approach Fibonacci retracement 0.618 at 107.05 and 0.706...

Rodswingfx

USD/CHF keeping its bullish price series. break out and retest of 0.9030 market structure retested. now a run up towards target 1 at 0.9230 then target 2 at 0.9740

Rodswingfx

ETH has rebounded from an area of demand at 200 DMA around 2970

Rodswingfx

Initial inverted head and shoulders idea found rejection at 0.79% fibonacci retracement 1.50248 but outlook for EUR/CAD has not changed much as price holding just shy above feb 2024 uptrend. on the fundamental front the eurozone let loose monetary policy and will continue to cut rates to to boost the weak economy. across the pond in canada potential turmoil ahead.

Rodswingfx Updated 

I like what I see and may have an inverted head and shoulders to the upside. 🚀 entry 1.4910 to target 1 at 1.4970 then 1.5030

Rodswingfx

Bank of Canada is set to meet on dec 11 and Bank of Japan on Dec 19. eyeing both events for further direction. one of the incoming US administrations first order of business of course is releasing the energy. OPEC has just announced it is going to gradually unwind 2.2 million barrels per day through 2026 and the US flooding the market with oil can have a negative...