TheMarketHacker

TheMarketHacker Updated 

This analysis is in line with TheMarketHacker's Forex Fundamental Outlook for the 3rd Week of November 2015 Hacking the Fundamentals Nothing new came out of the FOMC Meeting Minutes from October released hours ago. But the market reacted confusingly, triggering a rally for the USD that was instantly negated early in the Asian Session. Some people are...

TheMarketHacker Updated 

This Analysis is inline with our Fundamental Outlook for the 3rd Week of November Hacking the Fundamentals UK's Inflation was singled out as the main reason for BoE's decision to delay hiking rates. The BoE has also forecasted that it might take longer for Inflation to recover. The CPI y/y that will be released an hour from now is expected to deflate by...

TheMarketHacker

This week will be a little busier compared to last week. The potential policy divergence of ECB vs Fed has opened great opportunities for trading the EURUSD with relatively low risk. While developments(or lack thereof) in Japan could also be a good opportunity for going long on USDJPY. The GBP remains in a flux, but if the BOE is dovish, then we must be bearish....

TheMarketHacker Updated 

Hacking the Fundamentals In line with our Fundamental Outlook , we are looking to short EURUSD on pullbacks. This is mostly due to ECB and the Fed's monetary policy divergence. But yesterday's "Conference on Monetary Policy Implementation in the Post-Crisis Period" saw some remarks from speakers that could have cast some doubt as to whether the Fed is 100%...

TheMarketHacker

Read a more detailed outlook from TheMarketHacker Website Summary The USD reigns supreme and all other major currencies are bowing before it. There is still a little more than a month to go before the hotly anticipated liftoff on December 16. So while we expect the trend to continue, short term sentiments could provide retracements and rebounds that could...

TheMarketHacker Updated 

With good data coming from the US, and Yellen just a hair shy from categorically stating a rate increase in December, the USD rallied across the board on Wednesday. Because of that, we were left behind from our setup here: It is now unlikely for the price to go back to 1.0950. So I am now looking to enter at 1.0900 support->resistance. There is some likelihood...

TheMarketHacker Updated 

Hacking the Fundamentals Read the Link above for more a detailed writeup. But to summarize: Draghi is dragging the EUR down. The Fed is considering a rate hike on December. EUR is weak, USD is strong. Therefore we're just looking for a perfect spot to short EURUSD. Hacking the Sentiment Since all eyes are on NFP with many analysts saying that this could be...

TheMarketHacker Updated 

Hacking the Fundamentals GBP's big day is tomorrow Nov 5. The expectation is that the BOE will keep rates but be hawkish in their outlook for next year. Today, the Services PMI was as expected but actually slightly higher which is good. The UK economy is recovering albeit very slowly - so the sentiment is that the GBP is strong but not strong enough to break...

TheMarketHacker

Read a More Detailed Outlook at TheMarketHacker's Website USD : Bullish EUR : Bearish GBP : Neutral - Trade the Range JPY : Bearish on Range AUD : Bearish CAD : Neutral - Trade the Range CHF : Bearish NZD : Bearish Summary The War of the Currencies continue. As long as the Fed remains undecided, other central banks are...

TheMarketHacker Updated 

This setup from previous chart analysis is not over yet, but there is a new entry level as explained below. Read it for more rationale behind this setup. Hacking the Fundamentals While the FOMC was hawkish on their statement and the possibility of a rate hike on December increases, the fundamentals behind UK and the Pound continues to be the best among the...

TheMarketHacker Updated 

Hacking the Fundamentals While the USD rallied last week and the EUR crashed due to Draghi's threateningly dovish statement, the GBP remains a fundamentally strong currency as UK shows the most modest recovery among the western powers. The strength of the USD is not a welcome development for the Fed as data from the US shows that their recovery is not quite on...

TheMarketHacker Updated 

EURUSD is forming a Bearish Pennant. But this one doesn't look like it wants to continue going south. There have been several attempts to breakout north but it failed. To me, those false breakouts are clues that the market wants to go north. Judging by how the market reacted on both the FOMC in Sept and the NFP in October, there seems to be an underlying weakness...

TheMarketHacker Updated 

There is an agreement between Fundamentals and Technicals in indicating that the USD is getting weaker. On the Weekly chart, the Bulls seems to be chipping its way north. There had been rejections, but this can't be construed as Bearish signals, on the contrary, they are indications that buyers are just accumulating their Longs and those rejections are just them...

TheMarketHacker Updated 

Some not-so-good news from the U-S-of-A has weakened the USD last week. This week, we may see a continuation of GBP's strength against the USD. I am expecting it to find support at 1.53800 before continuing long, breaking the resistance at 1.54800. and attempting to reach 1.56300. Last week, I anticipated the market to reach for 1.54800 before selling off....

TheMarketHacker Updated 

Cable's rally is not over. It's reaching for 1.548 where sits a lot of Short Orders. If it reaches that level, I expect Bears to add to their Shorts while at the same time the Bulls will take some profit. That combine will make the price dive down once again. I expect it to reach that level no later than Wednesday this week or as early as Tuesday. My ideal entry...

TheMarketHacker Updated 

Should EUR get stronger and Yen weaker, EURJPY offers a good opportunity for an intraday long. With the movements of Fiber and Yen combined, the EJ should create a strong bullish move today.