Also, you have access to the private Amazing Trader forum where you can communicate with reuters forex as well. Hong OPWA , look at your Amazing Trader AUDUSD charts. One way to look at it is last week’s flash crash wiped the deck clear of sell stops and with little to go for on the downside, market squeezed the upside.
This is not to say your trades will not work out. I am just stating why we are where we are now. I forgot to add Saudis cutting output to restore some balance to oil market. Change in Powell’s tone suggests Fed will not choke off the recovery so risk on helps stocks, commodities and commodity currencies. This is the wild card and forex market needs to get past the UK vote next week. With all the negative stock market new I was expecting a dip in Oil again.
Where is this going, after the massive flash crash I was expecting some sort of retracement but it just keeps rising and break trend lines and resistance. Also Oil is doing the same just rising from Lows. Price will return to level 12745 and 12775 with possibility to go down to 12710. No problem it is now 12734. Amazing Trader shows next key resistance at 2586. US agriculture industry that could boost China’s overseas grains purchases and ease pressure from the United States to open its markets to more farm goods. Not all data releases are postponed.
If they can’t publish economic numbers , how can they sell bonds ? The reason behind the trade is based on Amazing Trader logic and you can see the result was a 34 pip dip. Can you imagine if I had long term ZERO interest rates to play with like the past administration, rather than the rapidly raised normalized rates we have today. That would have been SO EASY! Still, markets up BIG since 2016 Election! Eurozone economic confidence in December shows a bigger than expected decline.