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USD Daily Review July 6, 2018

USD Daily Review for July 6, 2018

NZD/USD to Stage Larger Rebound as RSI Flashes Buy Signal

Recent price action in NZD/USD highlighting the scope for a larger rebound in NZD/USD as the Relative Strength Index (RSI) flashes a textbook buy signal.

 

XAU/USD Technical Outlook: Gold Price Relief or Larger Recovery?

Gold prices posted an outside-daily reversal off support this week- is a near-term low in place? These are the key targets & invalidation levels that

 

Pre-NFP Price Action Setups Across the US Dollar

Tomorrow brings Non-Farm Payrolls for the month of June, and a number of key themes remain of interest as we move deeper into the second

 

Weekly Technical Perspective on the Australian Dollar (AUD/USD)

Aussie is testing big downtrend support and leaves the shorts vulnerable into the June open. Here are the key price levels that matter on the

 

GBP/USD: An Increase In Net-Short Positions Prompts a Bullish Bias

Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long.

 

USD/JPY Risks Larger Pullback Following Failed Run at March-High

USD/JPY may continue to consolidate ahead of the highly anticipated Non-Farm Payrolls (NFP) as the pair persistently fails to test the March-high (111.40).

 

US Dollar Drops to Support as EUR/USD Strength Shows: NFP on Deck

The US Dollar’s Q3 pullback has continued, although this is likely more derivative of Euro and GBP strength. The big question is one of

 

GBP/USD: Cable Breaks Above Trend-Line on Hawkish Carney Comments

After a brutal second quarter of the year, the British Pound has started to retrace as we’ve moved into July trade, and focus is now

 

US Dollar Rally Faces Critical Test after Midweek Holiday

The DXY Index appears to be in the throes of topping out in the near-term.

 

EUR/USD supported by easing trade anxieties – ANZ

Analysts at ANZ explained that the euro was supported by easing trade anxieties as German Chancellor Merkel indicated a willingness to discuss potenti

 

Gold falls modestly, trades below $1256 as US Dollar gains traction on FOMC minutes

The XAU/SD pair recorded small losses after the USD started to gather strength on the back of the FOMC minutes. As of writing, the pair was trading at

 




GBP/USD: holds in bullish territory although muted on ‘cautious’ FOMC minutes

GBP/USD has been unable to climb on the back of a cautionary set of minutes from the FOMC’s June meeting whereby policymakers saw intensified risks ar

 

USD/JPY: has been mixed on the back of a cautionary set of FOMC minutes, (less hawkish bias)

USD/JPY has been mixed on the back of the June FOMC minutes where importantly, they came with the statement that gradual hikes needed amid very strong

 

The reasons why the dollar should depreciate – Natixis

Analysts at Natixis explained the reasons why the dollar should depreciate. Key Quotes: We see three main reasons why the dollar is likely to deprec

 

EUR/USD is moderately firmer on the session – Scotiabank

Analysts at Scotiabank explained that EUR/USD is moderately firmer on the session, though trading off slightly from earlier highs just above 1.17, fol

 

NZD/USD: bulls in control, but plenty of risk ahead for the rest of the week, 0.6850 is key

NZD/USD has been able to seek out the 0.68 handle on a soft dollar as full market return with NY traders back in after the 4th July holiday. The bird

 

Market insight: USD has been on the defensive, USD/SEK bears take most advantage – Scotiabank

Analysts at Scotiabank explained that the USD has been on the defensive against the G-10 currencies all week as the clock ticks down to the imposition

 

Pre-NFP Price Action Setups Across the US Dollar

The article accompanying this webinar can be located at the following link: https://www.dailyfx.com/forex/video/live_events/2018/07/05/pre-nfp-price-action-s…

 

EUR/USD and GBP/USD Forecast July 6, 2018

The EUR/USD pair rallied significantly during trading on Thursday, reaching towards the 1.17 level and even the 1.1725 level after that. The 50 day EMA seems…

 

USD/JPY and AUD/USD Forecast July 6, 2018

The US dollar has rallied significantly during the trading session on Thursday, breaking above the top of the shooting star from Wednesday, which of course i…

 

AUD/USD continues to flub the 0.74 barrier, further downside looking likely

The AUD/USD is continuing to trade just beneath the 0.7400 handle as the Aussie remains clipped by a lack of bullish data. The Australian AiG Perform

 

Euro supported by data but dollar limited action to FOMC minutes – Westpac

Analysts at Westpac explained that the strong data in Germany supported the euro but the US dollar showed limited response to either a booming service

 

NZD/USD: consolidating in a tight range, awaiting Friday’s showdown

NZD/USD has been consolidating in a tight range as the market remains somewhat thin due to the 4th July holidays and traders preferring to cross their

 




Where USDCAD Offers Better Trade Terms than USDCHF, EURUSD, GBPUSD

USDCAD has the benefit of decisive event risk with clear and coordinated times, but that doesn’t make easy trading

 

Count Down to Trade War Engagement, Dollar Interst in NFPs, Oil Turning

Trade wars continue to command the headlines with the US-China tariffs due to go into effect at Friday midnight

 

Asia AM Digest: USD Pauses Rise on FOMC Minutes, Trade War Ahead?

The US Dollar paused its ascent during the second half of the day after the FOMC minutes. Ahead, a trade war may loom as China

 

USD/JPY goes taut as the US unleashes tariffs on China

The USD/JPY is trading into 110.70 as the trade war between the US and China heats up, with the first volley of US tariffs on Chinese goods coming int

 

EUR/USD trades calm amid rising US-China trade war fears

The US-China trade war is close to becoming a reality, however, EUR/USD is showing no signs of stress. The pair continues to trade flat-lined around

 

GBP/USD backing away from the week’s high with US NFP and tariff action in the pipe

The GBP/USD has wound up flat on the week, trading just above the 1.3200 major level just ahead of London’s Friday market opening, and the Sterling is

 

USD/CAD risk reversals retrace CAD put bias

The USD/CAD one-month 25 delta risk reversals (CAD1MRR) are being paid at 0.20 CAD puts – the lowest level since June 15 vs recent high of 0.30 CAD pu

 

AUD/USD: long-term 61.8% Fib support come could into play if trade wars escalate

The US-China trade war is close to becoming a reality and hence the probability of Aussie dollar losing the long-term support of 0.7327 (61.8 percent

 

USD/CNH Technical Analysis: Bearish continuation pattern seen in hourly chart

Hourly chart Spot Rate: 6.6670 Daily High: 6.6695 Daily Low: 6.6514 Trend: Downside break of the bear flag would be bearish Resistance R1: 6.6

 

USD/JPY: bulls in control, but lack conviction ahead of key events ahead

USD/JPY is very quiet in Tokyo, awaiting Friday’s likely catalysts where nonfarm payrolls take the spotlight and trade war angst has the potential to

 

EUR/USD swings back above 1.1700 amid US-China trade war

The EUR/USD pair finally managed to regain the 1.17 handle, as the US dollar got sold-off into the US-China trade war that official kicked-in today, w

 

NZD/USD takes-out 0.6800 as risk improves on US tariffs

The NZD/USD pair brought an end to its choppy trading and bounced after the US unleashed the first round of tariffs on the Chinese goods earlier today

 




USDJPY Pending Short with US-China Trade Wars now Official

USDJPY Pending Short with US-China Trade Wars now Official

 

USD/JPY attempts recovery near 110.65, focus shifts to US NFP

The USD/JPY pair is seen trying hard to take on the recovery above the 110.70 region, as the Yen bulls continue to fight for control amid a resurgence

 

EUR/USD sticks to gains near 1.1715 ahead of US NFP

The EUR/USD pair failed to sustain at higher levels, now easing back towards the 1.17 handle, as the risk-on rally in the European equities stalled on

 

USD/CHF holds above the 0.9900/0.9880 support area – Commerzbank

Karen Jones, Analysts at Commerzbank, notes that the USD/CHF pair is likely to find support around 0.99 handle in the near-term while it continues to

 

Have a nice trading!




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