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Action Settings in US Dollar Prices
This live webinar is hosted on the Youtube platform and, in the end, the archives will be available in the video player above.
Today's webinar focuses on currency pair prices, as well as a few key commodity and equity market indices, following yesterday's FOMC rate decision. This rate decision provoked a volatile evolution of the US dollar, the currency having fallen around the publication of the declaration; but soon after finding support and rallied the press conference.
Four-hour price table of the US dollar
Table prepared by James Stanley
The strength of the US dollar remains in today's business and tomorrow the report on non-farm payroll will be released in the United States. It is expected that more than 190,000 jobs will have been added in April, which could help maintain the US dollar and hence large currency pairs in motion.
The EUR / USD is interesting for tomorrow. The initial weakening of the US dollar yesterday saw the pair come closer to the highs of last week, finding some resistance in the area that lies between 1.1250 and 1.1262. This area kept the peaks while the bears quickly returned and prices pushed back their previous support level, the area stretching from 1.1187 to 1.1212. We have since seen the price make an effort below this area, but this may be more of a "trap setup" considering the driver on the schedule for tomorrow.
Hourly price table EUR / USD
Table prepared by James Stanley
To know more:
Are you looking for a longer term badysis on the US dollar? Our DailyFX Forecast for Q2 have a section for every main currency, and we also offer a plethora of resources on USD-pairs such as EUR / USD, GBP / USD, USD / JPY, AUD / USD. Traders can also stay in step with short-term positioning via our Customer sentiment indicator IG.
Forex trading resources
DailyFX offers an abundance tools, indicators and resources to help traders. For those looking for business ideas, our Sense of the client IG shows the positioning of retail traders with real transactions and positions. Our commercial guides bring our quarterly DailyFX forecasts and our best trading opportunities; and our news feed in real time has intraday interactions of the DailyFX team. And if you're looking for real-time badytics, our DailyFX Webinars Submit many weekly sessions where you can see how and why we watch what we watch.
If you are looking for educational information, our New on the FX Guide is here to help new traders as our Research on the characteristics of successful traders is built to help refine the skill set by focusing on risk management and trading.
— Written by James Stanley, Strategist for DailyFX.com
Contact and follow James on Twitter: @JStanleyFX
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