Dollar remains king

28 October, 2016

The mounting expectations over the Federal Reserve raising US interest rates in December have inspired bullish investors to send the Dollar Index to fresh eight-month highs at 99.00. This Index remains heavily bullish on the daily timeframe as there have been consistently higher highs and higher lows. Prices are trading above the daily 20 and 200 SMA while the MACD points firmly to the upside. Previous resistance around 98.00 could transform into a dynamic support which encourages a further incline towards the psychological 100.00 level.

GBPUSD breakdown pending

The persistent hard Brexit fears have left the GBPUSD vulnerable to heavy losses. This pair is heavily bearish on the daily timeframe as the candlesticks are trading below the daily 20 SMA while the MACD has crossed to the downside. For three straight trading weeks, prices have oscillated between 200 pip range with pressure building up. A breakdown below 1.2100 could catalyse a further decline towards 1.1800 in the medium term.

EURUSD fundamentally bearish

The expected divergence in monetary policy between the European Central Bank and Federal Reserve has made the EURUSD fundamentally bearish. With consistently lower lows and lower highs on the daily timeframe the pair also fulfils the prerequisites of a technical bear trend. What most bearish traders are observing on the EURUSD is when the technical bounce comes to an end. Prices may trade towards the 1.1000 resistances or breakdown below 1.0850 with targets stretching towards 1.0500.

USDJPY bulls make an appearance

The USDJPY is turning increasingly bullish on the daily timeframe with the breakout above 105.00 potentially opening a path higher towards 106.00. Dollars resurgence amid renewed rate hike hopes remains a key driver behind the USDJPY upsurge with further inclines expected. From a technical standpoint, prices are trading above the daily 20 SMA while the MACD has crossed to the upside. Previous resistance around 105.00 could transform into a dynamic support for a further upsurge towards 106.00.

EURGBP parity dream…

Sterling weakness from the persistent hard Brexit concerns may be the engine which ensures the parity dream on the EURGBP is achieved. From a technical standpoint, the pair still remains bullish on the daily timeframe with the 0.8900 support providing protection for the bulls. A breakout above 0.9000 could provide buyers enough momentum to send the EURGBP towards 0.9150. 


Source link  
iPhone sales indicate economic growth?

The recovery in U.S. stocks from October's slump evaporated on Monday with the Dow Jones Industrial Average falling more than 600 points, while the Nasdaq...

Saudi comments at OPEC support Oil price

The initial headlines coming out of the OPEC meeting in Abu Dhabi that Saudi Arabia has committed itself to lower production output should be enough...

Risk assets boosted by divided Congress

Asian stocks followed Wall Street higher after U.S. mid-term elections produced a divided Congress on Wednesday. All major U.S. indices climbed more than...


Rand rallies on risk appetite

Financial markets are continuing their forward drive on the realization that investors were rightly positioned for the outcome of the mid-term elections in the United States.

Dollar looks sensitive before elections

The market positioning at time of writing further suggests that investors remain hesitant to take on risk just hours before the mid-term elections in the United...

Conflicting trade signals set the tone

The early part of trading for the week has already showed how sensitive emerging markets can react to newsflow around potential trade developments...


Stocks back in the red

President Trump's tweet on Thursday that he had a long and very good conversation with President Jinping of China didn't serve the markets for long...

October: A month to forget!

Global equity markets ended a scary October on a slightly brighter note following a rebound on Wall Street during the final two trading days of the month...

Stock markets going nuts

Wall Street experienced one of its wildest trading sessions on Monday. What seemed to be buying the dips, turned into selling the rallies. The session...


In the past 24 hours Bitcoin has lost -0.49% and reached $5551.55260941. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.1164% and is now at $1.13. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -17.31% and is now at $175.00269847. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM86%
4Alfa-ForexAlfa-Forex85%
5FxProFxPro84%
6FIBO GroupFIBO Group83%
7OctaFXOctaFX82%
8HotForexHotForex80%
9FXCMFXCM78%
10AvaTradeAvaTrade76%
  


Share: