The British pound has rallied during the Tuesday session, slamming into the 1.3250 area, an area that was previously support, and as of late, has been resistance.
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
The gold market has rallied nicely on Tuesday, as traders are looking to determine whether or not rates will drop in the US, allowing them to push the gold market higher.
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The USD/JPY pulled back on Tuesday after failing near ¥160. This area continues to be paramount in this pair.
Technical Analysis
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Silver has rallied hard on Tuesday, as we are reacting to falling yields in the United States. With war headlines coming out randomly, be careful with your position size.
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The US dollar rallied on Tuesday but gave back a lot of gains once we broke above the crucial 0.80 level. This is also where the crucial 200 Day EMA sits.
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Bitcoin continues to see a bit of stability, despite the world being on fire. This isn’t what you would expect, so its important to pay attention to it.
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The US dollar continues to be the main focus of traders, as rates in the US continue to push things around.
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The German DAX has rallied a bit in the early session on Tuesday, as traders are reacting to potential good news coming out of Iran. Furthermore, it is end of quarter trading.
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The Euro continues to see a lot of noise, but the potential for the Iranians to look for peace is going to be a major driver of risk appetite.
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The bond markets continue to drive where we go in stock markets, with the 4.30% level being a major floor for those rates.
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ADP Non-Farm Payroll expects 41k added in America, US Core Retail Sales are expected to be 0.3%, and Retail Sales are expected to be 0.5% as spending continues despite inflation. The ISM Manufacturing PMI reading in the US is expected to be 52.3, a slight drop of 0.1 from March. Iran now says it is ready to end the war, but with guarantees, while Trump claims talks are “going well.”
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The US dollar has rallied against its northern neighbor on Monday, as the rate differential continues to favor this move. However, are we a bit overdone at the moment?
Technical Analysis
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