Financial markets were quite steady & quiet ahead of the New York Opening Bell, with US Futures markets maintaining a neutral bias, as investors anticipate an additional round of US 3rd quarter earnings data, which has been positive for most of the week.
The US Dollar was trading softer and lower, in union with sliding US treasury yields, which lent some intra-day demand for precious metals, like Gold (XAU/USD) and Silver (XAG/USD), as well as supported the Japanese Yen (JPY) by virtue of interest rate differentials. During today’s trading, we briefly discussed the fundamental backdrop in global financial markets and how current market conditions are contributing to the slow rise in certain risk-oriented assets to new & all-time record highs.
For a good portion of today’s webinar, we analyzed price action in GBP/CHF, USD/NOK, EUR/GBP, XBT/USD (Bitcoin), EUR/NOK, EUR/CHF, GBP/JPY, EUR/JPY, CAD/JPY, EUR/NZD, $FCEL (Fuel Cell Energy Inc.), and $NFLX (Netflix) to identify technical setups that could be forming for trade entry over the next few trading sessions. You can watch Wednesday’s Trading Webinar by clicking on the video link above. We also briefly explained which currencies benefit during periods of rising inflation risk and Fed interest rate projections from futures markets. You can watch Wednesday’s US Session Webinar by clicking on the video link above.
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Marvin Perry has been an active trader within the Forex market since 2010. He attended the University of Illinois in Urbana/Champaign, and graduated in 2002 with a double major in Cell and Structural Biology and Chemistry. He currently serves as an FX instructor & Quantitative Analyst for the Forex Anatomy Private Trading Community called "The Lab", where he conducts live weekly trading webinars & instruction on Fundamental Analysis & Inter-Market Interpretations of dynamic asset classes and their influence on currencies.