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USD Daily Review July 12, 2018

USD Daily Review for July 12, 2018

USD/JPY Jumps above 3 Yr Trendline, 112 on Strong US Inflation Data

For the first time since the opening weeks of 2018, USD/JPY has broken above 112, and the underlying trend may be taking this pair to


Weekly Technical Perspective on the Euro (EUR/USD)

Euro is challenging the June rebound and will need to hold nearby support to keep the rally viable. Here are the price levels that matter


NZDUSD May Rally as Retail Traders Increase Their Short Positions

Our trading forecasts for Q3 have just been published; you can find them here. And check out the IG Client Sentiment data to help you trade profitabl


AUD/USD Rebound Unravels as China Pledges to Retaliate to U.S. Tariffs

Recent price action in AUD/USD raises the risk for further losses as the exchange rate snaps the series of higher highs & lows from the


US Dollar Drops Back to Lows; USD/CAD Support Bounce After BoC Hike

The Bank of Canada hiked rates this morning for the fourth time since last June; and another 3-4 appear to be on the way by


Bank of Canada (BoC) Preview: Dovish Rate Hike to Fuel USD/CAD Rebound

A dovish Bank of Canada (BoC) rate-hike may produce a bearish reaction in the Canadian dollar as the central bank remains in no rush to


Trading Outlook for EUR/USD, USD/JPY, CHF/JPY, Gold Price, DAX & More

Today, we looked at a few USD charts, USD/JPY and CHF/JPY readying for moves, gold could be posting a higher low soon, while the DAX


Stopped-out of USD/JPY short – TDS

Analysts at TD Securities explained that they closed their USD/JPY short in our FX Model Portfolio after the stop-loss was triggered for a loss of ~2.


GBP/USD in a minor correction to 200-hr SMA as dollar’s advance runs out of steam

GBP/USD is stabalising on the 1.32 handle after meeting a recent low of 1.3200 on broad dollar strength as the NY session goes by. Currently, GBP/USD


USD/CAD surges to 1.32, so much for a BoC rate hike…

After dropping down to 1.3060 with the initial reaction to the BoC’s rate hike decision and its relatively hawkish tone in the policy statement, the U


AUD/USD Review: bears fully back in charge into descending channel

AUD/USD is currently trading at 0.7375 having made a high of 0.7437 and a low of 0.7373, weighed by the US raising the stakes in the trade dispute wit


USD/JPY touches 112 for the first time since Jan. as DXY rallies to mid-94s

The USD/JPY pair is staging a robust rally in the NA session despite the weak risk appetite, which generally increases the demand for traditional safe


USD/JPY clearing key technical resistance, eyes on fibos at 112.22/33

USD/JPY rallied to the highest level since January 12th on the last hourly stick, breaking through May’s 111.39 high, into a very congested area where


EUR/USD retreats as US dollar gains momentum, back near 1.1700

The EUR/USD pair peaked earlier at 1.1758 following a report about when the ECB might raise rates in 2019 but then lost strength and…


New tariff announcement weigh on AUD; USD holds in positive territory

The USD recovers some of the lost ground, after its fall from the highs attained towards the end of June. On Tuesday the Trump administration announced tariffs of 10% on $200 billion worth of chinese imported goods, the mentioned tariffs are expected in 2 months time.


EUR/USD and GBP/USD Forecast July 12, 2018

The EUR/USD pair initially try to rally during trading on Wednesday but turned around at the 1.1750 level to break down rather significantly. In fact, we bro…


USD/CAD made a significant turnaround: staying long – TDS

Analysts at TD Securities explained that after a knee-jerk move lower following the BoC rate hike, USD/CAD made a significant turnaround. Key Quotes:


Key US data supporting the US dollar higher – Nomura

Analysts at Nomura explained the key data points that supported the dollar’s advance across the board. Key Quotes: “Review PPI: PPI inflation came


Short EUR/USD After Break Below Support, Targeting May Lows

Fundamentally, the Euro may resume falling versus the US Dollar. A break below near-term rising support has opened the door for a EUR/USD short targeting


Asia AM Digest: USD Up, Crude Oil Prices Fall. Stocks Vulnerable

Fears of a trade war that may damage global growth sent the US Dollar surging higher as crude oil prices fall. Even if calm ensues


Dollar Index Technical Analysis: Pullback has ended

Hourly chart Spot Rate: 94.73 Daily High: 94.79 Daily Low: 94.69 Trend: Cautiously bullish Resistance R1: 95.02 (May 29 high) R2: 95.30 (June


EUR/USD: Corrective rally faltered ahead of US CPI release

The EUR/USD’s corrective rally faltered on Wednesday and the pair could revisit recent lows near 1.15 should the US inflation numbers, scheduled for r


GBP/USD softens into 1.32 ahead of US CPI numbers as Brexit weighs

The GBP/USD continues to shuffle its feet into recent lows, trading into the 1.3200 major level ahead of Thursday’s London markets. Broader market se


AUD/USD: Markets favor OMT puts amid trade war fears

The AUD/USD one month 25 delta risk reversals (AUD1MRR) have dropped to -0.95 today vs -0.73 on July 9. The rise in the implied volatility premium f


USD/JPY Review: Clocks six-month high, Yen loses safe haven appeal

The USD/JPY pair rose to 112.35 in Asia – the highest level in January despite escalating US-China trade tensions and the risk-off sentiment. The Jap


NZD/USD Technical Analysis: Sell-off could stall on bull divergence

15-minute chart Spot Rate: 0.6750 Daily High: 0.6760 Daily Low: 0.6748 Trend: Minor recovery likely Resistance R1: 0.6786 (200-hour moving ave


USD/CNH: Above 6.70, It’s golden cross vs overbought conditions

The USD/CNH pair is holding above 6.70, having closed above that level yesterday for the first time since September 2017. The People’s Bank of China


USD/CNY fix projection: 6.6849 – Nomura

Analysts at Nomura offered their model’s projection for today’s fix in USD/CNY. Key Quotes: “Our model1 projects the fix to be 615 pips higher than


USD/JPY Review: broke up out of the 18 month-long channel pattern onto 112 handle

USD/JPY is trading at the highest levels since January earlier this year and has made a session high on Tokyo of 112.11, falling just shy of the NY hi


Forex today: dollar king as markets take Trump’s tariff threats seriously

.Forex today was in a defensive environment where investors were moving out of risk responding negatively to the Trump administration’s planned tariff


Asian Stocks Rise on Trade War Pause, AUD/USD Eyes US CPI Next

Hints that US and China could be heading for trade negotiations next helped send Asian benchmark indexes higher. AUD/USD eyes a potential US CPI beat


EUR/USD stuck within a tight range around 1.1680

The sentiment around the European currency remains depressed so far this week, with EUR/USD now navigating a narrow range between 1.1680 and 1.1660.


JPY call bias weakest since May 18 after a bull breakout in USD/JPY

The USD/JPY pair crossed the three-year-long falling trendline with strength on Wednesday and rose to a six-month high of 112.38 in the Asian session


USD holds well; trade war jitters ease and sentiment improves in Asia

USD continues to stand tall as it enters its fourth consecutive day in gains. The US Dollar index, an index measuring the strength of the USD against a basket of currencies rose to 94.79 earlier this morning after starting this week at 93.97.


GBPUSD Fragile as Downside is Tested

On the day the UK publishes its Brexit plans and Trump visits the country, GBPUSD is at a critical point technically and could well break


Strong U.S. Consumer Price Index (CPI) to Fuel EUR/USD Pullback

Updates to the U.S. Consumer Price Index (CPI) may generate a larger pullback in EUR/USD as the headline and core reading for inflation are expected


USDJPY Technical Analysis: Bulls Break 3yr Downtrend, Limited Resistance Ahead

USDJPY Technical Analysis: Bulls Break 3yr Downtrend, Limited Resistance Ahead


GBPUSD Price Analysis – Brexit White Paper Will Direct Sterling

The British Pound is on edge as UK Prime Minister Theresa May releases the controversial Brexit White Paper, a document that has already sparked the


USD/JPY, CHF/JPY Breakouts Pave Path for Higher Prices

USD/JPY and CHF/JPY have been generally quiet as price action coiled up, but with breakouts yesterday the path of least resistance is clearly higher now.


When is the US CPI and how could it affect EUR/USD?

US June CPI Overview Thursday’s US economic docket highlights the release of latest consumer inflation data and is due for release later during the e


USD: Generic strength without exception – Westpac

A deteriorating global trade picture is of course unambiguously negative EM FX and could have been expected to produce a more mixed picture vs G10 (i.


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