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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



EUR/USD: Shift from bullish to NEUTRAL: Immediate bias is for a probe lower towards 1.1680.The sharp decline in EUR took out the stop-loss for our bearish view at 1.1770 last Friday and this signals that the bullish phase that started on 19 Jul has ended. The immediate pressure has clearly shifted to the downside even though it is too early to expe


USD/CAD Pivots Near Longer Term Level While Crude Oil Prices Grind a Triangle

Watch the structure of the CAD pivot near 1.24 to see if this is a new trend or partial retracement. Oil and gold appear stuck


Australian Dollar Forecast Mixed, Next Move is Key

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUDUSD prices may continue to rise.


US Dollar Remains a Sell versus Japanese Yen

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bearish contrarian trading


EUR/USD Risks Larger Pullback Amid Failure to Fill January 2015-Gap

The recent series of lower-highs in EUR/USD raises for a larger pullback amid the failed attempt to fill-in the gap from January-2015 (1.2000 down to


Euro, Yen and USD: Top Three FX Themes for This Week

This week’s calendar is rather quiet after an active past couple of weeks, and the U.S. Dollar is holding on to higher-low support after the


GBPUSD Options Point to Quiet Week, but Watch for Continued Weakness

Cable broke out of a rising wedge pattern only to fail back below on the BoE, U.S. jobs report; this shift focus lower, but with


Dollar Rebound in Focus as Euro, Pound Risk Exhaustion…


NZD/USD Technical Analysis: 5-Month Support Line Broken

The New Zealand Dollarbroke below trend line support guiding the move higher against its US cousin since mid-May, hinting a significant reversal is in the


EUR/USD and GBP/USD Forecast August 8, 2017

The EUR/USD pair was very quiet on Monday, gaining very slightly after the significant selloff on Friday. Quite frankly, this market needs to pull back so I …


USD/JPY and AUD/USD Forecast August 8, 2017

The US dollar did almost nothing against the Japanese yen during the day on Monday, testing the 111 level, but struggling a bit to overcome that barrier. Ult…


Australian Dollar Rises as Private Sector Confidence Swells

The Australian Dollar rose alongside bond yields as the National Australian Bank Business Confidence Index closed in on its highest reading since 2013.


Dollar Rally Failing to Materialize, Dow Extends Rally to 10th Day

Despite the alignment of technical and fundamental development to close this past week, the Dollar’s ambitions have yet to translate into a definitive trend reversal


Have a nice trading!

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