US Dollar reverses

Intermediate
  • Major bull reversal in US Dollar reaches upside target (DXY)
  • Powerful downside reversal in Euro (EURUSD)
  • Pound breaks down and targets final support (GBPUSD)
  • Reversal in Canadian Dollar signals trend possibly ending (USDCAD)

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Your email address will not be published.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

Pound aims higher – GBPUSD forecast

Global financial markets have shifted to more of a “risk on” theme since the start of this week, rejecting the “risk off” phase seen at the beginning of April, last week.This has been in reaction to coronavirus new cases/ deaths showing some signs of slowing down in some parts of Europe (Italy and Germany) and some US States (NY State).This “risk on” phase has seen… Continued

Possible Triangle on USDCAD Points Higher – Elliott wave analysis

USDCAD is in a five-wave recovery up from January, however currently is consolidating within a temporary pullback seen in the middle of a much stronger uptrend. We see latest sideways and choppy activity as a wave 4) which can be a triangle in the making, and which points above the 1.435 and into new highs for a wave 5). A strong rally above the upper… Continued

Markets calming, consolidation themes

Macroeconomic/ geopolitical developments Relatively speaking, compared to the chaotic developments throughout March, the end of the month and move into the second quarter and April, has seen a lack of significant developments on the geopolitical side.Yes, the COVID-19 coronavirus continues to spread globally, with the current epicentre shifting to the US, but still with cases and deaths on the rise in Europe. Practically all European… Continued

US Dollar stays firm, aiming higher

Pound respects major resistance (GBPUSD)Euro breaks down (EURUSD)Positives appear in Dollar-Yen, as it de-correlates from equities (USDJPY) Continued

GBPUSD stays resilient

Day trade outlook: Resilient consolidation, risks stay higher Again, a resilient consolidation Wednesday (as also seen Tuesday) after the spike lower and rebound from 1.2242, retaining a positive tone from the latter March surge above key 1.2423 (to switch the intermediate-term bear trend to neutral), to keep the risk higher into Thursday.  We see an upside bias for 1.2444 then 1.2485; a break above aims for 1.2528, 1.2577 and maybe towards 1.2624/41.But… Continued

Forex Brokers in your location