- EURUSD could rally back towards 1.3475 and maintain bear trend.
- USDJPY looks less reliable than AUDUSD or GBPUSD.
- August forex seasonality in QE era supports a stronger US Dollar.
The USDOLLAR Index has failed to punch through 10544, setting up a return to crucial breakout support near 10495. The implications for the major USD-crosses are mixed; GBPUSD, for example, has slipped to fresh August lows today as the Sterling underperforms across the board.
A struggling USDOLLAR Index comes at the hands of EURUSD and USDJPY, both of which have made acute reversals from their recent USD-favorable moves. USDJPY briefly traded above ¥103.00 on August 1; it has traded as low as ¥101.50 today.
EURUSD's slip to fresh yearly lows at $1.3332 has been met with a bit of covering after the ECB meeting, and $1.3400 was seen briefly this morning. In the near-term, the H4 indicators have turned bullish for the Euro, while the daily Stochastics and MACD appear to be in a countertrend, corrective mode. Bears are in control below $1.3475 for good reasons, however.
See the accompanying video above (~5 minutes) for the technical considerations for EURUSD, USDJPY, and AUDUSD.
Read more: Euro Squeeze Waits on Draghi Presser ECB Meets
ForexAmid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
Forex FundamentalsAs the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
EconomicsOne particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
ForexBreaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
InvestingAccess to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
EconomicsSouth Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
Forex EducationPeer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
ForexHere is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
EntrepreneurshipA brief overview of the top apps that help forex traders with on time information, charts and more.
Investing BasicsVirtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
- No results found.