FX Price Action Setups in USD/JPY, AUD/USD and USD/CAD
The year started with fright, but the past month has seen quite the change-of-pace. Equity bulls have returned in the US and prices are bucking back up to fresh highs. Already, many are looking for the buy-the-dip to return with force, and given the Fed’s recent pivot, this can make sense. What hasn’t meshed with that return of the risk-on theme has been a seeming lack of volatility across the FX-space. The US Dollar has been caught in back-and-forth price action for the past four months, EUR/USD has shown a distaste for life above 1.1500 and even those previously clean trends in the Yen have come into question. In this webinar, I took a step back to look at price action setups across USD-related major pairs.
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US Dollar Back to 96.04 After Last Week’s Higher-Low
Price action appears significantly cleaner on a short-term basis as prices have been trading in a clear push of topside momentum since setting a higher-low last Wednesday. This has helped to bring DXY back to the 96.04 level, which is the 5 ...