Major assets show mixed behavior under pressure from elevated rates and a strong dollar. FX, metals, and equities reflect caution and limited momentum.
Technical Analysis
About Christopher Lewis
Christopher Lewis is a Columbus, OH-based Forex trader who enjoys trading a wide range of pairs from the traditional EUR/USD to more exotic USD/RUB, and many things in between. Unlike many Forex traders who prefer to trade in a specific market session, Christopher takes advantage of the flexibility provided by the currency markets, and he trades in all sessions, most often when he’s taking a study break from pursuing degrees in both finance and computer science.
Mr. Lewis most often trades on the daily or weekly chart, rather than on a shorter time frame, making his market outlooks suitable for traders in all time zones. In addition to multiple daily analyses, he has been providing DailyForex.com traders with regular video analyses for several years. He also contributes weekly Forex forecasts, monthly outlooks and even yearly forecasts, all of which are all highly valued by his loyal following. Christopher has tested dozens of Forex trading platforms during his years as a trader, though he now uses GFT’s 360 DealBook when placing personal trades.
In late 2014 Mr. Lewis began contributing signals to ForexSignalz.com, where he collaborates with DailyForex’s chief trader, Adam Lemon, to provide additional signals to serious traders directly to their mobile phones. Mr. Lewis’s signals, although not overly aggressive, are largely based upon his own personal trades and trading strategies that he has cultivated over many years, making them suitable for traders at all levels and for traders using a range of trading platforms.
When he’s not studying, trading or chasing after his two young children, Christopher manages to find time to operate his own Forex website, aptly called The Trader Guy.
Latest 12 Articles
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USD/JPY remains bullish overall, but the 160 level is still a major barrier, with pullbacks likely to find support near 158 and 156 before another breakout attempt.
Technical Analysis
EUR/USD remains under pressure below the 200-day EMA, with rallies likely to be faded unless the pair can reclaim 1.1650 and shift the near-term outlook.
Technical Analysis
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The DAX is under pressure near 23,000 as rising yields, energy fears, and a hawkish ECB keep the index heavy unless it can reclaim 23,500.
Stock Market Today
USD/CAD remains near the top of its range, with 1.3750 as the key breakout level and 1.39 the next upside target if dollar strength continues.
Technical Analysis
Bitcoin fell back on Thursday, but a recovery above $72,000 would strengthen the basing setup and put $82,000 back into focus.
Technical Analysis
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Silver was hit hard by rising US yields, with $70 acting as the key level that must hold to prevent a deeper slide toward the 200-day EMA.
Technical Analysis
Natural gas spiked on Qatar supply fears, but with $3 still acting as support and $3.50 as likely resistance, traders may look to fade exhaustion near the highs.
Technical Analysis
The NASDAQ 100 is sitting on crucial support near 23,800, with rising US yields pressuring sentiment but a recovery above 25,000 keeping the bullish case alive.
Stock Market Today
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Gold was hit hard on Thursday as rising US yields pressured prices, with $4,600 now the key level to watch for either a rebound or deeper breakdown.
Technical Analysis
WTI crude oil remains headline-driven and rangebound below $100, with $102 needed for a breakout higher while $92 and $85 stand out as major support levels.
Technical Analysis
The Australian dollar continues to chop back and forth against the US dollar on Wednesday, as traders are trying to gauge what the risk profile will be ahead of the FOMC.
Technical Analysis
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