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The Forex Market Wrap is here!


Watch the video to learn what key levels have been hit this week!

USD Index

forex market wrap usd index

In the previous week’s ahead analysis video we discussed the potential for the USD Index to break either way due to the weekly candle forming a doji at resistance. The price broke out higher in the end largely due to a hawkish tone from the Federal Reserve. This combined with a risk off market helped the price of the USD rally. 

This could continue into next week if the weekly candle can close above the key highs. 


forex market wrap gbpusd

The GBPUSD price broke the major swing level of 1.3600 this week despite the Bank of England hawkish tone last week. This could be due to the fact that the furlough scheme which helped companies in the UK keep people in employment has ended. Some analysts believe this could lead to mass redundancies in the UK which could weigh on the GBP. 

This bearish sentiment could continue into next week if the price forms bearish price action at the previous swing lows. 


forex market wrap audusd

The AUDUSD price is interesting as it currently trades back within the previous week’s range. This could be seen as a positive for traders looking to buy the pair as it shows sellers aren’t active here. The recent commitment of trader reports highlight strong commercial buying at these levels which could lead to the price reversing. However, a strong USD and risk off sentiment could keep prices range bound here. The price action suggests otherwise but we would need to see a breakout of the current week’s highs.


forex market wrap nasdaq

We have recently talked about the NASDAQ and the downtrend it was forming however, it has moved a lot further than we have anticipated with the price breaking below the key swing level of $15000.00. The daily chart shows a downward trend forming which could continue into next week if the price rejects the swing lows. 

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