WHAT’S HAPPENING IN THE FOREX MARKET?

WHAT’S HAPPENING IN THE FOREX MARKET?

4th day the Greenback is dropping but it’s not convincing for the Sellers as these moves seem rather weak. The USD index is approaching 92.13 lows from 9th of November and maybe possible lows of 91.75 from 1st of September. A quick retest of 92.38 would be good today for further decline, patiently waiting for this.

Other than the Canadian CPI by 2:30pm later today, the economic calendar seems rather light on data but expect the unexpected as usual. ie don’t let your guards down.

The BTC crypto is showing no signs of slowing down and if you are a CT Counter-trend trying to short it, ensure you have deep pockets as you might have to wait a while. Flash crash is also a possibility with the popular crypto which now tests the 19000 area highs from December 2017.

Nothing concrete on the radar for now, waiting for pullbacks on the major currency pairs.

November 18, 2020

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