The DXY index breaks below the 8-month support line. The dollar hits new lows in 2020 around 91.55. The downside momentum in the DXY index has recently accelerated following the breakout of a Fibonacci level at the 91.90 region and the 8-month support line near 91.80. Therefore, the continuation of the downtrend is a clear […]
Tag: Foreign exchange
USD / CAD falls to fresh three-week lows at 1.2950 zone
USD / CAD is falling for the second day in a row, after breaking 1.2985. The dollar is weak and the loonie is among the best of those linked to commodities. The USD / CAD started the new week around 1.3000, with a bearish bias and in European hours it broke below 1.2980 decisively, extending […]
US dollar DXY index falls to new 2020 lows near 91.60
The DXY index extends the downtrend below the 92.00 level. Risk appetite sentiment continues to weigh on the dollar. Chicago PMI and pending home sales data stand out on today’s economic calendar. The US dollar DXY index, which measures the strength of the dollar against a basket of major currencies, remains under pressure and moves […]
USD / JPY: Bearish Momentum Improves
The USD / JPY could fall back to the 103.50 region and below that level in the coming weeks, according to UOB Group currency strategists. Key Comments: 24 hour view: “Last Friday we highlighted that ‘the underlying tone has weakened a bit, and this could lead to USD / JPY falling to 103.95’. We added, […]
EUR / USD is moving higher and closer to 1.20 ahead of Lagarde
EUR / USD rises to new highs near the 1.20 level. The weakness of the dollar supports the rise of the pair. Germany’s preliminary inflation figures stand out on today’s economic calendar. The bullish momentum in the common currency lifts EUR / USD to the region of new multi-week highs above 1.1980 level. EUR / […]
GBP / USD: Additional gains probably above 1.3365
It is anticipated that the GBP / USD extend the rally as it rises above the 1.3365 level in the short termhave suggested currency strategists at the UOB Group. Key Comments: 24 hour view: “Last Friday, we highlighted that ‘the upward pressure has more or less dissipated’ and we expected GBP / USD to ‘trade […]
EUR / USD could attempt a move above 1.20
UOB Group currency strategists have noted that the currency is expected to EUR / USD focus above 1.2000 level if 1.1980 is exceeded In the next weeks. Key Comments: 24 hour view: “Our expectation for the EUR ‘to move within a 1.1880 / 1.1935’ range was incorrect as the pair spiked to a high of […]
AUD / USD set to end the week just below 0.7400, at monthly highs
AUD USD ignored negative trade news from China on Friday to hit new monthly highs. The excellent Australian containment of the Covid-19 pandemic is likely backing the coin alongside the NZD. The AUD/USD It looks set to end the week on the upside and at its highest levels since early September, just below 0.7400. On […]
GBP / JPY dips below 138.50 weighed down by a vulnerable pound
The GBP / JPY reversal from the 140.00 zone extends to 138.35. Brexit uncertainty and the Scottish referendum hurt the pound. GBP / JPy tests the trend line support at 138.40. The pound sterling it is trading lower against the Japanese yen for the second day in a row, cutting most of the ground taken […]
USD / JPY exploring levels below 104.00 amid broad dollar weakness
USD / JPY reversal from 104.80 extends below 104.00 US dollar looks vulnerable amid positive market sentiment The short-term bias is negative and the pair is targeting 103.50 The U.S. dollar it is heading lower against the Japanese yen for the second day in a row. The bullish reaction from the lows of 103.90 witnessed […]
