JPY Technical Analysis: Selling pressure to reemerge on a sustained break below 142. USD scope for a drop to 1. CHF on track to test 1. US Dollar Index Technical Analysis: DXY is flirting with tops near 96. US dollar, Euro, British pound, Japanese yen, Australian dollar, Canadian dollar, and New Zealand dollar. CAD posted losses last week, as the Canadian dollar enjoyed a sparkling January. Will the lack of activity continue?
The Federal Reserve made a significant dovish twist and downed the US Dollar. Have the Brexit blues caught up with cable? USD retracted last week, posting losses of close to 1 percent. USD advanced on the dovish Fed decision but could not hold its higher ground. Loonie ends week with a roar after U.
USD enjoyed an outstanding week, posting gains of 2. USD showed limited movement last week. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. EURUSD continues to be a difficult pair to trade. That’s evident by the chart below. Since October of last year, the euro has been locked in a relatively narrow range with no clear directional bias.
EURUSD has been a difficult pair to read so far in 2019. In fact, the single currency hasn’t done much since late October of last year. EURUSD had looked promising from a bullish standpoint. The breakout on January 7th signaled that falling wedge resistance from the April 2018 high would become support going forward. EURUSD bulls broke through a significant level last week.
1474 close confirmed the break of falling wedge resistance that extends from April 2018. I discussed this pattern on Christmas Eve. EURUSD continued its sideways movement below the 1. This has been the case since October 24, 2018.
Disclaimer: Any Advice or information on this website is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. The Forex Forecast is a currency sentiment tool that highlights our selected experts’ near and medium term mood and calculates trends according to Friday’s 15:00 GMT price.
WHAT IS THE FOREX FORECAST POLL? The Forex Forecast Poll is a sentiment tool that highlights near- and medium-term price expectations from leading market experts. FXpoll is not to be taken as signal or as final target, but as an exchange rates heat map of where sentiment and expectations are going. Sideways line shows the percentage of our contributors on each of these outlook biases. We also indicate the average price forecast as well as the average bias.
Traders can check if there is unanimity among the surveyed experts – if there is excessive speculator sentiment driving a market – or if there are divergences among them. When sentiment is not at extremes, traders get actionable price targets to trade upon. No lag in the data: Contrary to other indicators, there is no delay. A very useful tool to combine with other types of analysis of technical nature or based on fundamental macro data, like trading positions, rates table or live chart. Significant sentiment data, based on a representative sample of 25 to 50 leading trading advisors for 5 years.