The US Dollar Index pre-Fed Announcement

As we approach yet another Fed announcement where no change in rates is expected, we wanted to do our usual analysis of the US Dollar Index to see if there is anything critical from a technical perspective that we should be aware of heading into the news. So...

Some Basic Pointers on Stops for GBPUSD

One of the things that we like to focus on is something called Market Direction. We utilize a tool in Forex, Stocks, and Futures that measures three levels of market direction for the day, starting with the open of the market. In Forex, the open is considered 5 pm...

A EURUSD New Target?

The daily chart of the EURUSD has broken a key four month trendline. That’s news in itself. However, there is more going on with this move. Let’s take a look at the daily chart with the obvious downtrend line drawn: Note that I’ve drawn the lower MOB...

A Classic Value Area Example on GBP/USD

For today’s Blog commentary lesson/review, we wanted to show off a key play from last night’s action that works about 70-80% of the time on a proper setup, which was the Value Area play on the GBPUSD. The main component here is that the pair started above...

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