I share my observations of DAX30, EEM, Nasdaq 100. Considering how stock indices have been exceptionally risk-averse, exuberant, buoyant, I consider all these setups here as high risk.
An overlay of forex majors from 08 September 2016 when USD strengthening started reveals their relative strengths. Commodity currencies are loss leaders.
Week 34 2016 price action can be described only as moribund followed by Jackson Hole come alive. Last 12 hours trading was also shoot-one-way, U-turn-the-other with initial bearish USD followed by bullish USD. Torn, indecisive action or just herding traders into a big trap?
There could be some USD strengthening in the short term with clues from DXY, EURUSD and USDSGD. ECB Draghi’s speech tomorrow is also his first(?) since Brexit.
24 hours after June ’16 FOMC statement, CAD remains weakest currency against USD, JPY strongest. In general shorting JPY-crosses is a winning trade.
USD loses after FOMC as NZD, CAD gains most. GBPNZD turns out best performing cross while a straight long NZDUSD is no easy task with resistance overhead.