JinDao_Tai

JinDao_Tai Updated 

Following from the weak US economic data last friday, further weakness in the USD is anticipated for the weak ahead. However, on Tuesday morning, the RBA will be releasing the meeting minutes form the rate decision. I expect a hawkish tone in the minutes, given that economic data for the AUD has been improving. Therefore, after the release, if price is able to...

JinDao_Tai Updated 

Following from the weak US economic data last friday, further weakness in the USD is anticipated for the weak ahead. Therefore, two trade ideas for the GBP/USD Trade Idea 1: Price could bounce off the 1.2855 support level towards the 1.2970 resistance Given positive CPI data released for the GBP, Trade Idea 2: Price could break the resistance level, with a...

JinDao_Tai Updated 

The GBP/USD is testing the 1.2550 resistance level. As the economic data (such as inflation data) in the UK has been improving, even with talk of potential increase in bank rates, anticipation is a stronger Pound. Paired with the current sentiment for a weaker USD, signalled by President Trump. Therefore, I would take a long position ONLY IF the GBP/USD is...

JinDao_Tai Updated 

USD/CAD reacting exactly as planned An buy entry here, given the break of the resistance level, could see USD/CAD reach the next resistance of 1.3375 What do you reckon? Will price trace in the same direction as the arrow?

JinDao_Tai Updated 

The BoC will be releasing their rate decision later tonight at 10pm. It is anticipated that the overnight rate will be held at 0.5%. However, it is important to note that President Trump will be speaking (4 hours prior) to the BoC decision. Any negative decisions or sentiments expressed by President Trump is likely to weaken the USD. It is likely that the...

JinDao_Tai Updated 

Previous 2.3% Expected 2.2% Anticipation that a good CPI data could push the GBP higher, bouncing off the near support level of 1.2400.

JinDao_Tai

The Dollar Index, a measure of US Dollar, relative to a basket of foreign currencies (usually major US trade partners). I've highlighted the round number levels (99, 100, 101, 102 and 103), and we can see that price reacts strongly at these levels. (currently reacting at 101.00) It is important to pay attention to the DXY particularly at the round number levels,...

JinDao_Tai Updated 

Trade planning leading up to the USD NFP news event The Euro have been trending down in the short term (past week). Hence, I anticipate that the Euro could break support level and head further down, given that strong NFP numbers are released. Although I do not want to predict the possible NFP data, I am preparing for a possible good NFP data, due to: - ADP data...

JinDao_Tai

Testing out my first post on trading view, sharing support and resistance lines for the USD/JPY chart.