USD/CAD tests key support as traders assess Fed policy direction. A bounce hints at recovery, but upcoming FOMC guidance will decide whether the pair breaks down or rallies.
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
NZD/USD ticked higher on Monday but remains stuck between major EMAs as markets await Wednesday’s FOMC tone. The Fed’s stance on rate cuts will likely determine the pair’s next breakout.
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GBP/CHF extended its climb on Monday, testing key resistance at 1.0750 as SNB intervention fears weigh on the franc, with support seen at 1.07 and 1.0650 in a broader bullish trend.
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AUD/USD showed indecision on Monday ahead of the FOMC decision, with traders watching the 0.67 level as a key breakout or rejection point amid broader US dollar uncertainty.
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The S&P 500 dipped slightly on Monday as traders await clarity from the Fed, with key support near 6,800 and the broader bullish trend still intact.
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Bitcoin stabilizes near key support at $80,000 as extreme pessimism and institutional activity hint at a possible bottom, with a bullish breakout confirmed on a daily close above $93,000.
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USD/CHF pushes higher as SNB intervention talk and solid support at 0.79 attract dip-buying ahead of the Fed decision, with the broader bias remaining bullish.
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GBP/USD retreats from recent highs as resistance near 1.34 holds and traders shift focus to the upcoming Fed decision, with fundamentals still favoring U.S. dollar strength.
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GBP/JPY pushes higher as the yen remains under pressure from ultra-loose BOJ policy and wide rate differentials, with shallow pullbacks offering bullish opportunities in a stable global risk environment.
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EUR/USD remains range-bound ahead of Wednesday’s FOMC decision, with traders awaiting clues on the Fed’s tone while technical levels between 1.14 and 1.18 define the current consolidation zone.
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EUR/JPY remains supported on dips as weak yen sentiment and rising JGB yields influence direction, with key levels at 180, 182, and 185 yen in focus.
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The US dollar is attempting a bullish reversal against the Swiss franc, with resistance near 0.81 and support from interest-rate differentials and a dovish Swiss National Bank stance.
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