WHAT’S HAPPENING IN THE FOREX MARKET?
The USD Index definitely loosing steam around the 92.94 zones and today is Friday (profit taking day). Definitely not expecting much from the Greenback today. More clarity on Trump’s legal actions with respect to the US elections could help at this moment but might have to wait a bit more on that.
A lot of ranging witnessed across board on the majors after Monday’s Greenback bullish run as a result of the Pfizer announcement. I believe that has been the highlight of this week as other matters like the BREXIT, Coronavirus are very much there but not as pronounced this week.
Bitcoin crypto also seen making higher highs and the CT Counter-Trend traders must be sweating bullets by now.
Remember the trend is your friend.
Gold (XAUUSD) safe haven struggling and giving rise to scalpers as it lost momentum after Monday’s pfizer announcement. Should close for the week as a good sized bearish candle and inside bars on the daily signalling for possible follow through to the downside.
The best mover this week has been the USDCAD