Forex consolidation, US Dollar strength correcting

Expert

US Dollar Index corrects lower, but up trend intact 
EURUSD rebounds
GBPUSD down trend intact
USDJPY negative in broader range
AUDUSD and NZDUSD send small, very short-term positive signals
USDCAD sideways
EURGBP trend stays higher

Shaun Downey

Editor

Winner of the Technical Analysis Book of the Year 2014, Mapping Your Voyage of Discovery, Shaun Downey is a veteran of the markets and a globally recognized name in the world of Technical Analysis....continued

Comment on this video

Your email address will not be published. Required fields are marked *


Latest Related News

GBPUSD bull theme reinforce after general election

An emphatic majority for the Conservative party was predicted by the exit polls at 10.00 p.m. on Thursday 12th December, which has been confirmed as the results have come in.This saw the Pound leap against the US Dollar above 1.35, with GBPUSD at its highest level since May 2018 and EURGBP plunging to levels not seen since 2016. GBPUSD day trade outlook: Bull theme A… Continued

GBPUSD focus into a key general election

The focus Wednesday was on the Federal Reserve in their last FOMC Meeting of 2019. There was no change in interest rates as anticipated, through the Fed maintained their dovish stance, indicating that rates would likely remain on hold through 2020.Stock averages in the US and globally cheered this outcome, probing slightly higher.However, markets remain somewhat cautious, given two looming events.First, in the UK today,… Continued

GBPUSD Election day approaches and final FOMC of 2019!

Looking at GBPUSD, the pair is waiting for the results of the election. While GBP surged on polls showing Tories dominance, they need 320 seats for a majority. YouGov's latest findings suggest the Tories winning 339 seats, Labour 231 and Lib-Dems 15. The seat-by-seat system gets Tories 43% of the vote and Labour 34%. The forecast suggests the race has tightened since the previous results… Continued

USDJPY – EURJPY Forecasts

USDJPY holding below 108.70/80 is a sell signal.EURJPY up for a day or 2 then down for a day or 2 in a sideways trend. Today’s Analysis 11 Dec, 2019 USDJPY try shorts at 108.70/80 with stops above 109.00. A break higher targets 109.30/35 & 109.55/60. Try shorts at 109.65/80 with stops above 109.99. Shorts at 108.70/80 target minor support at 108.45/35. A break below… Continued

EURUSD Forecast: Positive tone ahead of the Fed and ECB

The focus today is on the Federal Reserve in their last FOMC Meeting of 2019.No change in interest rates in anticipated but given the better than expected US Employment data last week, the risk is for the Fed to begin to shift away from a more dovish stance to slightly more hawkish.Such a shift in tone could see the EURUSD forecast shift lower with US… Continued

Forex Brokers in your location