The US dollar continues to see a lot of noise near the 200 Day EMA, as we are trying to rally and turn things around.
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.
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The New Zealand dollar fell on Tuesday, only to turn back around and show signs of strength again.
The Nasdaq 100 has shown itself to be rather resilient recently, and Tuesday hasn’t been any different after the initial selling pressures.
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Gold markets are trying to find buyers after what has been a brutal round of selling again on Tuesday. At this point, the markets are continuing to struggle overall.
The silver market has fallen again on Tuesday, as the markets continue to try and deal with the trauma that occurred just a few weeks ago.
The S&P 500 fell on Tuesday, as we continue to see a lot of noisy sideways action, and ultimately, we are in a bit of a holding pattern. It is worth noting that the floor continued to hold on Tuesday.
The FTSE 100 rallied again on Tuesday, as the markets are digesting, the employment numbers being worse than expected. As this could have the Bank of England could be forced to cut, stock traders are happy.
The euro continues to drift a bit during the trading session on Tuesday, as the oversold condition in the US dollar is starting to get a bit overdone. At this point, the short interest in the USD is at 14-year highs, and could we be ready to see a reversal?
Bitcoin continues to see a lot of headwinds at the moment, as the risk appetite is horrible currently. Institutions are seeing massive outflows at the moment, and this continues to cause issues.
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The Australian dollar drifted a bit lower on Tuesday, as traders are trying to find buyers at lower levels. Ultimately, this is a currency that will outperform many of the other G-10 currencies against the USD.
Silver continues to be very noisy as Monday is a holiday in the USA. The markets continue to see a lot of questions asked of it.
The gold market has been attracted to the $5,000 level for some time, and as we had a holiday on Monday, nothing seems to have changed.
