Technical Analysis

Unfortunately it looks like the anticipation of the BOE rate hike was too much and we were stopped out of the trade.

After a brief pause yesterday, the Dollar continued to gain strength as it surged against the Euro and Swissy and made slight gains against the Sterling.

The market pretty much stayed still today after the Dollar fell sharply on Friday. With the lack of news today it looks as though traders are waiting for a fundamental push before making their next move.

The Dollar gained momentum as Non Farm Productivity came out higher than expected. Tomorrow’s NFP will play a big role in the future direction of the Dollar in the next few days.

The Dollar extended its gain against the Euro and Cable as it was able to push them down from critical resistance points and now may be poised to bring them down even lower.

The Dollar rallied nicely against the Swissy and Yen. As a result it held its resistance against the Euro and Sterling as well.

After falling pretty good on Friday, the markets have eased up on the Dollar today as traders wait to make their next move.

The Dollar made some nice gains today against the majors and broke the 2.0000 support versus the Sterling which it had been having trouble with for the past few days.

The Dollar was once again unable to penetrate the 2.0000 mark versus the Sterling and it seems as though the market is undecided on where this pair should go in the near future.

The Euro once again rallied above 3600 after the US Existing Home Sales report showed the biggest one month drop since 1989!

Although the Dollar stayed pretty quiet against most of the majors, it continued to make a nice push against the Swissy. The Dollar also had enough juice to push the Euro down from the 3600 level.

After some brutal beatings as of late, the Dollar managed to gain some ground and hold off its hardest hitters.

The Euro and Cable finally slowed down their slaughter of the Dollar today but the Swissy and Yen continued their pounding. Is there any hope in sight for the Greenback?

I’m sure you all heard that the story of the day is the Sterling surging to above 2.0000 against the Dollar. This is the highest it’s been since 1992!

Although the Dollar lost to the Euro and Sterling, it was able to gain strong ground against the Yen as it rose to almost 120.00 today after staying dormant for the previous 5 days.

The Euro stayed quiet for a couple of days after breaking 3400, but today it surged to a new high at 3500. Will this momentum continue for the Euro?

Other than the Cable which rallied back to 9800, the majors were relatively quiet as they simply stayed put in their ranges.

The Dollar had been on a tear the previous 2-3 days against the majors but today was a different story. In one day, the majors completely erased the gains the Dollar made with strong rallies.

The Dollar continued to move forward against the majors, but could this recent movement mean its time for a reversal?

We had 2 trades this week and was able to finish the week positive. Hopefully we’ll see more of this positive momentum throughout the month of April.