News Reviews USD 

USD Daily Review August 16, 2017

USD Daily Review for August 16, 2017 NZD/USD: Decline To Extend Further Before A Base; USD/CAD: Corrective Rally Underway – BofAML Bank of America Merrill Lynch FX Technical Strategy Research notes that while the weekly chart of NZD/USD shows spot is in an uptrend and retracing the 2014-2015 decline, its short-term charts point to further decline.”Now it is starting to decline due to its whipsaw around the 200wk and Fibonacci resistance and overbought conditions…We thin   Trading Around the U.S. Dollar: Price Action Setups The U.S. Dollar was in a…

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USD Daily Review August 15, 2017

USD Daily Review for August 15, 2017 USD/CAD: Buy Dips Near 1.2650 Or On A Break Of 1.2740 Targeting 1.29 – TD TD FX Strategy Research notes that USD/CAD failed to make a convincing break of the key 1.274, briefly marking some time below 1.27.”This week the focus shifts back to local data, with July CPI likely to get close attention. TD expects a dovish print against market expectations, which is liable to benefit USDCAD.This could intensify the recent   Cautious ECB Minutes to Derail EUR/USD Continuation Pattern Cautious remarks…

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USD Daily Review August 14, 2017

USD Daily Review for August 14, 2017 EURUSD Looking to Further Test Big-picture Resistance The euro last week started out on a weak note, but then recovered to bring top-side levels back into focus as the new week is   US Dollar Torn Between Geopolitical Fears, Fed Policy Bets The US Dollar is torn between the influence of Fed policy speculation and geopolitical risk as key economic news prints against a backdrop of fiery   USD/CAD Rebound to Unravel on Less-Hawkish FOMC Minutes USD/CAD may exhibit a more bearish behavior…

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USD Daily Review August 11, 2017

USD Daily Review for August 11, 2017 USD/CAD: Where To Target Ongoing Positioning Squeeze In The Very Short-Term – TD TD Research notes that USD/CAD has retraced about a quarter of the move from early May and this reflects extreme market positioning, some lost data momentum in Canada and a more supportive technical backdrop emerging for the USD.”Indeed, regarding the latter, the 5dma has now crossed against both the 10 and 25dma, adding a tailwind to USDCAD.   EUR/USD Finds Support at the Former Resistance Level The EUR/USD price break…

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USD Daily Review August 10, 2017

USD Daily Review for August 10, 2017 EUR/USD: Consolidation Phase: Levels & Targets – Credit Suisse Credit Suisse FX Technical Strategy Research notes that EUR/USD has found an initial cap at the low of 2010 at 1.1876 and is currently correcting gains.”We allow for this phase of consolidation to extend, however, we view it as corrective and once it has run its course look for an extension above 1.1876 to target the recent high at 1.1911.Exte   USD/JPY: Sits In Bullish Cloud, Stuck In Triangle; Levels To Watch – BofAML…

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USD Daily Review August 9, 2017

USD Daily Review for August 9, 2017 EUR/USD: US CPI Likely A Trigger For Further EUR/USD Tactical Correction This Week – Barclays Barclays Capital FX Strategy Research argues that in the absence of important euro area data, a pickup in US inflation this week should provide a trigger for further EUR/USD lower correction following a solid NFP report last Friday.”On Friday, we expect July headline CPI to have increased 0.2% m/m and 1.8% y/y, with core CPI rising 0.2% m/m an   Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD –…

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USD Daily Review August 8, 2017

USD Daily Review for August 8, 2017 EUR/USD: Enough For Now But Risk Of Testing 1.20 Persists; Where To Target? – NAB NAB FX Strategy Research notes that the move up in EUR/USD from the low 1.16s to above 1.18 in the past fortnight (high of 1.1910 on August 2nd) has taken it though the 38.2% retracement level of the entire May 2014-january 2017 downtrend from 1.40 to 1.0340.”While USD weakness is obviously a big part of the story, the Euro has been the best p   Tech Targets: EUR/USD,…

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USD Daily Review August 7, 2017

USD Daily Review for August 7, 2017 AUD/USD: Bullish Setup Intact Against A Weekly Close Below 0.7710/30 – NAB NAB FX Strategy Research notes AUD/USD positive technical outlook in recent months remains intact and has shifted to a new level upon the July breakout close above key resistance levels.”Both price and momentum triggers are decisively positive at a MT/LT level.While weekly closes remain above 0.7710/30 we target a multi-week to multi-month upt   USD: July NFP: A Step In The Right Direction For Fed; Modestly USD Positive – CIBC CIBC…

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