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US Dollar Index Poised For Bigger Move? With several days left in the month of July, anything can happen. By mean 'anything', I mean Trump wanting a weak dollar, trade war, raising interest rates, and so forth. So we take a look at the USD chart to give us a hint as to where the Greenback could be heading in the near future. First, we look at the monthly and there we see a possible dark-cloud pattern; however, as I've said in the beginning, it could easily turn bullish at the end of the month. On the other hand, we'll anticipate more downside in days ahead. Happy Trading, folks! Cheers!
TVC:DXYShort
by Kav1ka
Trading Perspective on The US Dollar (June 3 – June 9)Trading Perspective on The US Dollar (June 3 – June 9): Bullish Fundamental Forecast for The USD: Bullish The Greenback got a week full of good news. U.S. economic indicators coming in so positively, notably Unemployment Rate falling to an 18-year low of 3.8% coupled with Nonfarm payrolls beating economists’ expectations (223,000 versus 188,000) continued to underpin the Fed’s tightening plan, and would continue to support US Dollar’s strength in the coming week. The rate hike probability in the next FOMC meeting on June 13 increased to 91.3%. Trade War will be the main topic for the week ahead as there will be few U.S. high-profile economic data releases printing. This week witnessed the US announce a decision to allow steel and aluminum tariff exemptions for several of its staunch allies. With G7 leaders meeting in Canada next week, this hot spot will surely be put on the agenda. However, whether the posture calms or escalates, bullish sentiment on the US Dollar will likely dominate. Technical Forecast for The USD: Bullish The USD posted a breakout failure as expected. However, risk appetite was back in play due to lots of positive announcements, leading the benchmark currency to test back the 94.24 barrier twice in the final two days of the week. Bulls seemingly continued to prevail, suggesting for a possible break above this level in the near-term. The target is predefined at the vicinity of 95.11. Follow me to get more analysis.
TVC:DXYLong
by HaiPhamFX
Trading Perspective on The US Dollar (May 27 – June 2)Trading Perspective on The US Dollar (May 27 – June 2): Stand Aside Fundamental Forecast for The USD: Bullish Next week brings a series of important economic data releases out of the US. Most of them are expected to support the Fed’s rate hike path in 2018: Q1’18 Gross Domestic Product is forecasted to remain at 2.3%, Unemployment Rate is anticipated to remain at 3.9%, and ISM Manufacturing is calculated to advance to 58.1 from its previous announcement of 57.3. U.S. Core PCE Price Index YoY may slip slightly to 1.8% from the previous 1.9% in April, but it will unlikely do large impact on traders’ bullish expectations on the USD. The rate hike probability in the next FOMC meeting on June 13 is currently at 90%. Technical Forecast for The USD: Neutral The US Dollar continued to have a positive week rising versus most of its counterparts. Looking at the DXY chart, we see that the 94.25 threshold has been reached with bullish momentum remaining relatively strong (evidenced via the steep degree of the bullish continuation started from May 14 despite that it had been less steep compared to the latest upward movement stemming from April 17). However, this is a difficult-to-beat obstacle, requiring us to be highly cautious when chasing upward moves as a breakout failure may happen. Our suggestion is standing aside. A break above 94.25 with a vigorous bullish bias, followed by a weak pullback will likely have the obstacle at 95.11 submit soon. Alternatively, a bounce from 94.25 will demand a further observation. If a weak correction happens then, we can expect a break above 94.25 in the near future, and look for opportunities to enter long.
TVC:DXY
by HaiPhamFX
We waiting, swimming in the lowlands before assault?We see a clear trend marked with black dotted lines. We can also notice that sometimes our chart drifts down (1), sometimes in the middle (2), sometimes at the top (3) between designated trend lines. I decided to look at this situation and calculated the time, as long the graph persists in designated areas. The calculations show, that the lowest trend (1) was for some 50 hours, on the middle (2): 75h, on the highest (3): 75h. To the full balance, we miss like a twenty four hours (information from 12 o'clock) of drifting in the lowlands in the current (1) trend... Well, I can say only: "May not! Faster, faster please !" Amongst all of this time, it was also over 24 hours above trend line, maybe it foretells a breakthrough of the current trend down by more than a day before we finally move up? Again... "I hope not" ;) Time will show us.
BITFINEX:BTCUSDShort
by seb8
AUD/USD tested the upper boundaryUpside momentum continues to push the Aussie even higher against the US Dollar. By the early hours of Thursday’s trading session, the AUD/USD pair tested the upper a boundary of a dominant channel. After reaching the 50.00% Fibonacci retracement level, the currency pair made a U-turn to re-test the weekly R1 at 0.7927. This retracement can be measured by connecting the January high at 0.8134 and the  February low at 0.7761. The bearish sentiment might be in play for the following trading session, however, the decline might be stopped by the 55– hour simple moving average.
by UnknownUnicorn890690