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๐ Closing Bell - Question of the Day
What does GDP measure?
What does GDP measure?
Anonymous Quiz
4%
Stock market performance
3%
Interest rates
88%
Economic growth
5%
Inflation
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USD/CHF โ Eyeing the Next Breakout?
USD/CHF broke out of last weekโs tight range after pushing above 0.7994, gaining momentum. That breakout gave bulls room to run, and today weโre seeing price test a major resistance zone between 0.8039 and 0.8055.
If buyers stay in control, the next upside levels to watch are the 200-period moving average on the 4H near 0.8077, a key zone that could decide whether this bounce has more legs.
Since the May peak near 0.8475, USD/CHF trended down aggressively, bottoming out near 0.7871, its lowest level since 2011. This recent bounce is notable, but itโll take more than a couple green candles to flip the broader trend.
For now, near-term support sits at 0.8017, with stronger structure back near 0.7986โ0.7994 โ the area that kicked off this weekโs move.
USD/CHF broke out of last weekโs tight range after pushing above 0.7994, gaining momentum. That breakout gave bulls room to run, and today weโre seeing price test a major resistance zone between 0.8039 and 0.8055.
If buyers stay in control, the next upside levels to watch are the 200-period moving average on the 4H near 0.8077, a key zone that could decide whether this bounce has more legs.
Since the May peak near 0.8475, USD/CHF trended down aggressively, bottoming out near 0.7871, its lowest level since 2011. This recent bounce is notable, but itโll take more than a couple green candles to flip the broader trend.
For now, near-term support sits at 0.8017, with stronger structure back near 0.7986โ0.7994 โ the area that kicked off this weekโs move.
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GBP/USD โ Nearing Support
GBP/USD is approaching the 1.34000 zone โ a level that held mid-June. The pair has been sliding since hitting resistance at 1.37000, and how price reacts here could give clues about trend continuation or a potential bounce. If this level breaks, the next support to watch is 1.32000.
Markets whipsawed yesterday on rumors that the White House was planning to fire Fed Chair Jerome Powell. The speculation sparked a Dollar selloff โ but once debunked, the DXY quickly recovered.
Todayโs focus is on U.S. Retail Sales โ a key measure of consumer spending. A strong print would support the case for a resilient economy and give the Dollar a lift. On the flip side, a weaker number could indicate rate cuts
GBP/USD is approaching the 1.34000 zone โ a level that held mid-June. The pair has been sliding since hitting resistance at 1.37000, and how price reacts here could give clues about trend continuation or a potential bounce. If this level breaks, the next support to watch is 1.32000.
Markets whipsawed yesterday on rumors that the White House was planning to fire Fed Chair Jerome Powell. The speculation sparked a Dollar selloff โ but once debunked, the DXY quickly recovered.
Todayโs focus is on U.S. Retail Sales โ a key measure of consumer spending. A strong print would support the case for a resilient economy and give the Dollar a lift. On the flip side, a weaker number could indicate rate cuts
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EdgeFinder's Retail Sales Chart โ Surprise Higher
Retail Sales data just dropped โ and it was a beat. The market was expecting a modest 0.1% increase, but the actual number came in hot at 0.6%.
Retail Sales tracks consumer spending, which makes up a large portion of U.S. GDP. Strong data typically signals a healthy economy and can delay the need for Fed rate cuts โ while weak numbers often point to slowing growth and rising recession risks.
This upside surprise strengthens the case for a more cautious Fed. With inflation still above target and now consumer spending showing resilience, policymakers may have more reason to pause or delay cuts. It also gives the Dollar some tailwind โ especially heading into more key data later this week.
Direction-neutral, but worth watching how the market digests this beat
Retail Sales data just dropped โ and it was a beat. The market was expecting a modest 0.1% increase, but the actual number came in hot at 0.6%.
Retail Sales tracks consumer spending, which makes up a large portion of U.S. GDP. Strong data typically signals a healthy economy and can delay the need for Fed rate cuts โ while weak numbers often point to slowing growth and rising recession risks.
This upside surprise strengthens the case for a more cautious Fed. With inflation still above target and now consumer spending showing resilience, policymakers may have more reason to pause or delay cuts. It also gives the Dollar some tailwind โ especially heading into more key data later this week.
Direction-neutral, but worth watching how the market digests this beat
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๐จ NEW TRADE SIGNAL
Nick just dropped a Forex trade
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๐ Closing Bell - Question of the Day
FOMO usually causes traders toโฆ
FOMO usually causes traders toโฆ
Anonymous Quiz
74%
Chase price
11%
Take profits early
12%
Enter in desirable prices
4%
Reduce risk
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DXY โ Support or Slip?
The US Dollar Index is holding in the $98 range โ a level that was previously resistance and may now act as support. DXY broke above this zone after a string of healthy data, and whether it holds here could determine near-term direction. A bounce may signal more upside, while a break lower could confirm continuation of the broader downtrend.
Thursdayโs data gave the Dollar some fuel: retail sales beat expectations, and jobless claims dropped to a three-month low. That followed a CPI print earlier in the week โ the strongest in five months โ reinforcing the idea that the Fed may need to wait longer before cutting.
Rate cut bets have pulled back slightly. Markets are now pricing in about 45bps of easing for the rest of the year โ down from 50bps earlier this week.
Still, uncertainties linger. Fiscal concerns from Trumpโs tax plan and spending, plus ongoing pressure on the Fed from the White House, keep the outlook murky for Dollar bulls and bears alike.
The US Dollar Index is holding in the $98 range โ a level that was previously resistance and may now act as support. DXY broke above this zone after a string of healthy data, and whether it holds here could determine near-term direction. A bounce may signal more upside, while a break lower could confirm continuation of the broader downtrend.
Thursdayโs data gave the Dollar some fuel: retail sales beat expectations, and jobless claims dropped to a three-month low. That followed a CPI print earlier in the week โ the strongest in five months โ reinforcing the idea that the Fed may need to wait longer before cutting.
Rate cut bets have pulled back slightly. Markets are now pricing in about 45bps of easing for the rest of the year โ down from 50bps earlier this week.
Still, uncertainties linger. Fiscal concerns from Trumpโs tax plan and spending, plus ongoing pressure on the Fed from the White House, keep the outlook murky for Dollar bulls and bears alike.
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USD/JPY โ Sitting at Resistance
USD/JPY is trading up near the $148.000 mark โ a key level thatโs acted as resistance before. Price is now hanging in the upper portion of that range. A clean break and retest, either above or below, could give some insight into where this pair heads next.
Fundamentally, the Yen has been under pressure heading into Sundayโs upper house election in Japan. Polls suggest the ruling party may lose its majority, which adds a layer of political uncertainty โ and could muddy the waters in Japanโs ongoing tariff talks with the US
Meanwhile, the Dollar has held firm this week, riding the wave of strong economic data. Tariff negotiations remain a weight on the Yen, especially with Japan still stuck in a deadlock with Washington over autos and agriculture โ two politically sensitive areas.
USD/JPY is trading up near the $148.000 mark โ a key level thatโs acted as resistance before. Price is now hanging in the upper portion of that range. A clean break and retest, either above or below, could give some insight into where this pair heads next.
Fundamentally, the Yen has been under pressure heading into Sundayโs upper house election in Japan. Polls suggest the ruling party may lose its majority, which adds a layer of political uncertainty โ and could muddy the waters in Japanโs ongoing tariff talks with the US
Meanwhile, the Dollar has held firm this week, riding the wave of strong economic data. Tariff negotiations remain a weight on the Yen, especially with Japan still stuck in a deadlock with Washington over autos and agriculture โ two politically sensitive areas.
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EdgeFinderโs Forex Scanner
US economic data continues to beat expectations, giving the Dollar some support. Meanwhile, political uncertainty looms in Japan ahead of this weekendโs upper house elections. The outcome could impact future fiscal and trade policy โ especially with tariff talks still ongoing.
EdgeFinderโs Scanner Highlights:
- COT data shows heavy Yen selling and Dollar buying
- Political uncertainty in Japan
- Retail sentiment remains net short, a contrarian signal
- Seasonality and trend indicators are supportive for the Dollar
- USD/JPY has shown relative strength versus other majors this week
With technicals at resistance and fundamentals heating up, this level could prove pivotal. A breakout or rejection may guide the next leg โ one to watch closely
US economic data continues to beat expectations, giving the Dollar some support. Meanwhile, political uncertainty looms in Japan ahead of this weekendโs upper house elections. The outcome could impact future fiscal and trade policy โ especially with tariff talks still ongoing.
EdgeFinderโs Scanner Highlights:
- COT data shows heavy Yen selling and Dollar buying
- Political uncertainty in Japan
- Retail sentiment remains net short, a contrarian signal
- Seasonality and trend indicators are supportive for the Dollar
- USD/JPY has shown relative strength versus other majors this week
With technicals at resistance and fundamentals heating up, this level could prove pivotal. A breakout or rejection may guide the next leg โ one to watch closely
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Most traders think discipline or mindset is the key โ but the truth is, trading psychology only matters after you have a real edge.
For me, the EdgeFinder became that edge. It cuts through the noise with clear, simple insights on fundamentals, sentiment, and macro trends โ showing what retail traders are doing, which currencies are gaining or losing strength, and how economic reports really move the market.
This isnโt guesswork. Itโs data-driven trading that helps you avoid emotional mistakes and build real consistency over time.
Right now is the BEST time to get access โ weโre running our biggest discount of the year: 40% off with code TGVIP.
If youโve been waiting for a sign to finally take the leap and invest in your trading future, this is it.
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-Nick
โค18๐2๐ฏ2
๐ Closing Bell - Question of the Day
What currency is considered a safe haven?
What currency is considered a safe haven?
Anonymous Quiz
13%
Australian Dollar
1%
Mexican Peso
22%
Euro
64%
Japanese Yen
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