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USD Daily Review July 5, 2018

USD Daily Review for July 5, 2018

Third Quarter Forecasts for Dollar, Euro, Oil, Equities and More

The second quarter has come to a close, and a market of volatility and uncertain trends now transitions into the latter half of 2018.


USD/JPY: Net-Long Positions Trend Below 50% Prompting Bullish Signal

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


AUD/USD remains limited by 0.7400 and supported by 0.7330

The AUD/USD pair failed to hold to gains and it was about to end the day flat. Earlier today, rose to 0.7423 supported by Australian economic data, re


USD/CAD: bears carry a Q3 target of 1.28

USD/CAD has moved lower in a quiet 4th July holiday North American session from 1.3156 down to 1.3127 where demand drove the price back to the 21-hr S


US Dollar extends losses to 94.20 on ECB headlines

Although it looked like the US Dollar Index, which tracks the greenback against six major currencies, was looking to extend its sideways action into t


EUR/USD: little incentive to push the EUR significantly higher at this point – Scotiabank

Analysts at Scotiabank explained that EUR/USD has stabilized the early summer downtrend around 1.15 it would appear but argued that there is little in


NZD/USD: awaiting Chinese markets and US traders to return, eyes on 200-hr SMA

NZD/USD has been able to recover from the July lows as the dollar gives back some ground and despite a breakdown in the GDT price index and the lull o


USD/JPY: ticking lower on ECB headlines, although mostly quiet on U.S. 4th July holidays

USD/JPY is quiet during the North American holiday session, having entered the shift flat at 110.50, continuing the bullish reversal towards 110.60. H


EUR/USD: dollar caught a bid on Chinese headlines, lifting USD/CNH from 6.6220 to 6.6402

EUR/USD has been subject to the Chinese headlines once again, this time favouring the dollar with the noise that China will be less interventional whi


USD/JPY and NZD/USD Forecast July 5, 2018

The US dollar has pulled back a bit during the trading session on Wednesday, as American traders were away for Independence Day. I believe that a bounce in t…


EUR/USD and GBP/USD Forecast July 5, 2018

The EUR/USD pair initially tried to rally during the trading session on Wednesday, testing the 1.17 level for resistance. We turned around to fall, and it lo…


Euro Gains as ECB Increases Rate Hike Bets, EUR/USD May Rise Next

Euro prices rose in illiquid trading conditions as ECB commentary raised hawkish monetary policy bets. Next, EUR/USD could rise to range resistance as downside momentum


Gold steady near $1,255.00 as Dollar treads water ahead of Thursday’s FOMC minutes

Gold is holding steady near 1,255.00 after peaking at 1,261.00 on Wednesday, driven upwards through the mid-week by a softening US Dollar. The US Dol


NZD/USD Technical Analysis: Eroding three-week long falling trendline

Hourly chart Spot Rate: 0.6760 Daily High: 0.6773 Daily Low: 0.6751 Trend: Bullish above the trendline hurdle Resistance R1: 0.6783 (resistanc


USD/JPY drops to 200-hour MA on trade tensions

The bid tone around the Japanese Yen strengthened, pushing the USD/JPY pair down to 110.300 (200-hour MA). At press time, the currency pair is tradin


GBP/USD twisting into bullish territory ahead of BoE’s Carney speech, FOMC Meeting Minutes

The GBP/USD is trading near the 1.3230 level after edging into a new high for the week on Wednesday, marking in a top at 1.3249. The Sterling caught


EUR/USD: Holds above 1.16, focus on Fed minutes

The EUR/USD sits well above 1.16, having built a nice basing pattern around 1.15 in the last few weeks and could gain altitude if the Fed minutes, due


USD/CNH revisits 100-hour MA hurdle as US tariff deadline looms

The USD/CNH pair picked up a bid in Asia on fears of a full-fledged trade war between the US and China. The US is set to impose tariffs on $34 billio


AUD/USD is stuck in a range, tariff deadline looms

The AUD/USD pair is reporting marginal gains in Asia amid rising fears of US-China trade war. The currency pair has been restricted to 0.73 to 0.7420


USD/JPY Technical Analysis: Bear flag breakdown on 15-min chart

15-min chart Spot Rate: 110.38 Daily High: 110.62 Daily Low: 110.30 Trend: Bearish Resistance R1: 110.60 (5-day moving average) R2: 110.90 (J


EUR/USD bounces sharply to test 1.1700, US ADP, FOMC minutes eyed

The common currency appears to have a caught a fresh bid-wave in early Europe, now sending the EUR/USD pair briefly above the 1.17 handle. EUR/USD: F


GBP/USD leaning into 1.3250 ahead of BoE’s Carney speech and Thursday’s FOMC Minutes

The GBP/USD is sticking close to 1.3230 ahead of Thursday’s London market open. The Sterling has been recovering from a recent low of 1.3049, a new l


Forex Today: USD on the back foot in quiet Asia, eyes on Carney speech, Fed minutes and tariffs deadline

The calm before the storm emerged the underlying theme in Asia this Thursday, as markets brace for a fresh round of the US-Sino trade war, with the US


EURUSD Breaks Above Near-Term Resistance on Rate Hike Report

The prospect of an increase in Eurozone interest rates well before the end of next year is boosting the Euro.


USD: Defused near term upside potential – Westpac

A steadier yuan, triggered PBOC intervention, and subsiding Merkel coalition break-up risks (arguably temporary) have defused near term upside USD pot


EUR/USD consolidates gains near 1.1685 ahead of US ADP, Fed minutes

The EUR/USD pair failed several attempts to resist above the 1.17 handle, as the US dollar sell-off stalled versus its main competitors. However, the


USD: Under pressure? – Westpac

The US dollar is down against most major currencies over the past week, with the initial catalyst for its decline coming from a rather surprising sour


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