FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%

The US dollar continues to lose ground


20 April 2021

The US dollar continues to lose ground amid the Fed's willingness to keep rates at record lows for a long time. In addition, the volume of asset purchases (QE) remains high along with the record pace of financial incentives for businesses and the population. All this supports the stock market and as a result contributes to the weakening of the USDX.

The activity of sellers under the psychological level of 91.00 remains very weak, however, the risk of further weakening of the index remains elevated.

EUR/USD

The general weakening of the US dollar is one of the main drivers of growth. At the same time, the general optimism against the background of an increase in the rate of vaccination in Europe contributes to the strengthening of the EUR. Thus, the target at 1.2100 remains relevant, moreover, I do not rule out further growth to 1.2175.

Today, the economic calendar is still empty, so the further direction of price movement will depend not on the publication of macroeconomic reports, but on geopolitical events and the appearance of additional information on vaccination and monetary incentives of the ECB and the Fed.

GBP/USD

The target at the technically important resistance level of 1.4000 has been reached, so active purchases under this level remain in the zone of increased trading risk. Nevertheless, the risk of further growth remains elevated. Therefore, the breakdown and fixing of quotes above 1.4000 will allow us to count on further growth to 1.4090 and further to 1.4180. To implement the bullish scenario, further weakening of the US dollar and the emergence of additional incentives for buying GBP are necessary. Any information about the effectiveness of vaccination in Britain and the reduction of quarantine restrictions will help strengthen the couple.

USD/JPY

The psychological support level of 108.00 has already been reached, however, the current growth may be a correction. Thus, another return of the pair's quotes to 108.00 will significantly increase the probability of a further decline to 107.00. On the way to the marked support level, there is another obstacle - 107.80.

The first signal indicating the willingness of buyers to resume growth will be a breakout of the resistance of 109.00.

#source

Related

US Markets lost major support, Asian Indices are melting
US Markets lost major support, Asian Indices are melting

Global markets closed last week on the back foot, and no significant positive factors emerged in Asian trading, increasing the flight to safety. The Hang Seng lost...

20 Sep 2021

US Retail sales and other data has supported Dollar
US Retail sales and other data has supported Dollar

The US Retail sales notably exceeded expectations, adding 0.7% in August vs an expected 0.7% decline. The increase to August last year is an impressive 14.9%...

17 Sep 2021

Geopolitics Fire Up Up and Cryptos Are Booming
Geopolitics Fire Up Up and Cryptos Are Booming

Futures in the United States and Europe are trading lower today as investors are worried about the new security agreement between the U.S., the U.K. and Australia...

16 Sep 2021

UK inflation surges, stocks struggle
UK inflation surges, stocks struggle

European markets flat at the open this morning as UK inflation surged to a record high in August and Chinese economic data was soft. China’s retail sales fell to...

15 Sep 2021

Gold is anxiously waiting for the US inflation data
Gold is anxiously waiting for the US inflation data

Gold, hovering around $1790 since last Thursday, might take an even harder hit. The bears are waiting for a good signal to launch an attack. It is now holding it below significant levels...

14 Sep 2021

Here Is Why Stock Futures Are Trading Lower
Here Is Why Stock Futures Are Trading Lower

Despite a week of doom and gloom in the stock markets, futures in the United States are still trading lower. Since February, the S&P 500 has been on its longest...

13 Sep 2021


Editors' Picks

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
Vantage FX information and reviews
Vantage FX
78%
Moneta Markets information and reviews
Moneta Markets
77%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.