Technical Analysis

Up 0.6% on the day The GBPUSD is moving to the highest level of the day and in the process is trading at the highest level in 6-weeks (since July 31). Looking at the hourly chart above, the price is moving toward the topside trend line at 1.3158. The 100 day MA  is within sights
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Manafort is cooperating with Mueller It’s not yet clear how much cooperation he will be doing, or what he knows. He’s certainly not getting a sweetheart deal. He’s already been found guilty to counts that will lead to several years in jail and with this plea he will get more jailtime and has agreed to
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Lows from August/September eyed The USDCHF is back down retesting the earlier NY session lows at 0.96575. The earlier low stalled ahead of the end of August/September 7th lows at 0.8651 and 0.96407.  A move below those lows would look toward the 50% and lower trend line on the daily chart below at the 0.96267
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
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…but off low levels too The major stock indices are ending the session mixed. While the Nasdaq is closing down on the day, the S&P and Dow is ending the session higher – albeit marginally.  The S&P index closed up 0.96 points or 0.03% at 2888.86. The high reached 2894.65. The low extended to 2879.20
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$200B of new tariffs may not go into effect The headline news that Mnuchin would head proposed US/China trade talks, is giving the risk pairs a boost. AUDUSD. The AUDUSD moved above a trend line and 100 hour MA earlier (blue line – see post here).  That was a bit more bullish. The headline sent
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