Markets are calm but the USD remains strong [Video]

Tomasz Wisniewski Axiory Global Ltd.

In today’s Trader’s Edge Market Briefing, Tomasz found these unique setups that we thought you’d find interesting.

Markets are calmer today compared with Monday, but we can still find a few decent trading occasions

The dollar remains strong, and the Dollar Index is flirting with new long-term highs

EURUSD experiencing huge selling pressure, testing the lower line of the channel down for the third consecutive day

The stronger USD is pulling commodities down – oil and gold are close to long-term lows

GBPUSD has stopped its sharp drop around 700 pips above parity

USDJPY is flirting with a horizontal resistance, which is slightly below the 145 resistance. Gone is the whole intervention by the BoJ. A breakout above the 145 will give us a proper buy signal

SP500 drops below a key support on the 3645 points

Author

Tomasz Wisniewski

Axiory Global Ltd.

Tomasz was born in Warsaw, Poland on 25th October, 1985.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.