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USD Daily Review August 10, 2018

USD Daily Review for August 10, 2018

US Dollar Price Action Setups Ahead of US Inflation

The US Dollar is making a fast move towards the yearly highs ahead of tomorrow’s inflation report. The expectation is for a second consecutive month


EUR/USD Rebound Unravels Ahead of Updates to U.S. CPI

EUR/USD stands at risk of making a run at the June-low (1.1508) as the exchange rate snaps the series of higher highs & lows from


GBP/USD Price Analysis: British Pound Testing Downtrend Support

The British Pound is down more than 2% month-to-date with major UK & US event risk on tap tomorrow. These are the targets & invalidation


GBP/USD: Weekly Long Positions Grow 13.8% Sparking a Bearish Bias

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


Bearish NZD/USD Trend Continues to Materialize on Dovish RBNZ

NZD/USD stands at risk of extending the decline from the earlier this year as it snaps the range-bound price action following the RBNZ meeting.


Would the Trump Administration Resort to Selling the Dollar?

Historically, the US has held a ‘strong dollar’ policy, but the Trump administration has shown willingness to break convention


US Dollar Digestion Comes Back Ahead of US Inflation

The US Dollar has spent this week digesting last week’s topside breakout. But – with a key inflation print on the calendar for tomorrow, will


USD/MXN jumps to 18.70 as dollar soars against EM currencies

The USD/MXN is set to end the day with important gains on the back of a rally of the greenback against EM currencies. The pair rose from 18.46 to the


EUR/USD Technical Analysis: Pair back near key support levels after limited recovery

EUR/USD 15-minutes chart EUR/USD Daily chart Spot rate: 1.1552 High: 1.1618 Low: 1.1548 Resistance 1: 1.1580 Resistance 2: 1.1600 Res


GBP/USD: bears looking for a break below the key 1.28 handle

Since the end of July, GBP/USD has been in freefall and has plummetted from the top of the descending channel at 1.3172 (30th July high) and has just


USD/CAD advances above 1.3050 as dollar gathers strength on Fed’s Evans’ comments

The USD/CAD pair gained traction in the last hour and touched a fresh daily high at 1.3064 after Chicago Fed President Charles Evans’ hawkish comments


AUD/USD bears all over it, eyeing the 2001-2018 uptrend line comes in at 0.7191

It has been a busy 20 hours for the Aussie after an uber-dovish RBNZ that early Asia-pacific desks walked into which led to heavy AUD/NZD buying and a


GBP/USD fails to hold above 1.29 as DXY continues to push higher

After refreshing its lowest level in nearly a year at 1.2843, the GBP/USD recovered above the 1.29 mark on latest Brexit headlines but the greenback s


Continuing to target 104 for USD/JPY at the end of 2018, sell GBP/JPY – TDS

Analysts at TD Securities explained that now that the Bank of Japan has demonstrated a willingness to allow for more yield curve control (YCC) flexibi


EUR/USD break below 1.1580, hits 2-day low

The EUR/USD pair dropped from near 1.1600 to 1.1563, reaching the lowest level in two days. As of writing it was hovering around 1.1570, holding a bea


Lira to recover to 5 versus the US dollar by the end of 2018 – ABN AMRO

“US sanctions and fears that Turkey will be unable to repay its foreign debt have caused a freefall of the lira. Our base case scenario assumes a lira


US Dollar Price Action Setups Ahead of US Inflation

The article accompanying this webinar, along with static charts are available at the following link:…


US Dollar Index Nears Decision Point in Elliott Wave Pattern

The current Elliott Wave for US Dollar Index appears to be a terminal wave. We are anticipating a US Dollar reversal below 96.03.


NZD/USD: down to key support at 0.6616

NZD/USD has been on the defensive due to the resurgence of the dollar in the main today, but indeed, and without doubt, the bird is suffering tremendo


AUD/USD back into familiar levels as markets pick up the Greenback

The AUD/USD is trading into 0.7375 heading into Friday’s overnight session after the Aussie lost ground once again against the US Dollar. The Greenba


EUR/USD: 1.15 the figure at risk, but US CPI will be key

EUR/USD has dropped as the dollar continues to pick up a bid ahead of the key CPI release on Friday. EUR/USD is currently trading at 1.1532, but


Two Ways to Trade the New Zealand Dollar Tumble

See how retail traders are positioning in NZDUSD intraday using the DailyFX speculative positioning data on the sentiment page. It is rare nowadays t


Pound May Shrug Off UK GDP, US Dollar to Focus on Trade Wars

The British Pound may shrug off upbeat UK GDP data while the US Dollar looks past CPI inflation data to focus on trade talks between


EURUSD On the Verge of a Technical Break, S&P 500 Inactivity Should Trouble Bulls

The three-day historical range from the S&P 500 is the smallest in percentage terms in 2018 and one of the smallest in decades


Near-term Setups in AUD/USD and NZD/USD

Updates on near-term technical trade setups we’ve been tracking in the Australian & New Zealand Dollars. (AUD/USD & NZD/USD)


USD Appreciates, NZD Down. Yen to Look Past GDP – Asia Market Wrap

The US Dollar appreciated across the board on Thursday while the New Zealand Dollar depreciated. Ahead, the Japanese Yen may look past an improvement in


USD/TRY hit a new record high in early Europe, TRY puts value at 7-year high

The USD/TRY pair has hit a new record high of 5.75 today, beating the previous high of 5.56 set yesterday. Turkey’s currency has dropped close to 10


GBP/USD trapped near 12-month lows ahead of an active Friday.

The GBP/USD is trading into 1.2830 heading into Friday’s London market session after the US Dollar saw a resurgence in Thursday’s latter half, taking


EUR/USD: Bears reinforced ahead of the US CPI release

The EUR/USD closed yesterday at 1.1527 – the lowest level since July 20, 2017 – having faced rejection at the lower end of the pennant (former support


USD/JPY slips from 111 as Japan GDP bolsters Yen

The USD/JPY pairing is testing down into the 110.85 region for Friday after a bump in Japan’s GDP readings gave the JPY a boost against the broader ma


Dollar Index continues to diverge from UST yields, focus on CPI

The USD exchange rate, as represented by the dollar index, clocked a three-week high of 95.65 in Asia, having rallied 0.54 percent yesterday. It is w


USD/CNH Technical Analysis: Offshore yuan is not of the wood yet

Hourly chart Spot Rate: 6.8430. Daily High: 6.8479 Daily Low: 6.8279 Trend: Bullish Resistance R1: 6.8566 (daily pivot resistance 1) R2: 6.88


AUD/USD: on the defensive, RBA trims inflation forecasts

The AUD/USD pair is trading at a five-day low of 0.7366, having created a bearish outside-day candle yesterday and risks falling further, courtesy of


NZD/USD: some undershoot of fair value range is likely – ANZ

Analysts at ANZ explained that the NZD/USD is now sitting below the bottom of their short-term fair value range, but said some undershoot is likely.


USD/CAD breaks higher to test 1.3100 ahead of US CPI, Canadian jobs

The USD/CAD pair broke the Asian consolidative range to the upside in early Europe, as the bulls look to retest the weekly tops of 1.3120 amid renewed


EUR/USD collapses to 1.1440, fresh YTD lows

A bout of selling pressure is hitting the single currency and forcing EUR/USD to recede to levels last seen in July 2017 around the 1.1440 region. EU


EUR/USD put value jumps to highest since early May 2017

The one-month 25 delta risk reversals (EUR1MRR) dropped to -1.2 today – the lowest level since May 3, 2017 – meaning the implied volatility premium fo


Downside EUR/USD Targets on Radar as Summer Range Snaps

EUR/USD stands at risk of extending the decline from earlier this month as the exchange rate finally snaps the range-bound price action carried over from


US Dollar Soars, Gold Slumps, EUR Rattled on Turkish Lira Concerns

EURUSD slumped to a fresh 13-month low in early European trade on a combination of a soaring US dollar and concerns over European banks’ exposure


EUR/USD Technical Analysis: Euro Resuming Decade-Long Decline

The Euro may be on the verge of resuming its down trend against the US Dollar as prices plunge through critical long-term chart support.


India FX Reserves, USD: $402.7B vs previous $404.19B

India FX Reserves, USD: $402.7B vs previous $404.19B


When are the Canadian employment details and how could they affect USD/CAD?

Canadian jobs data overview Statistics Canada will publish its labor market figures for the month of July, later during the early North-American se


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

US July CPI Overview Today’s US economic docket highlights the release of latest consumer inflation data and is due for release later during the earl


USD: Odd recent trend – Natixis

Patrick Artus, Research Analyst at Natixis, notes that the US dollar has appreciated against all currencies since the start of 2018, but suggests that


GBP/USD unfazed near 1.2750 on UK data

The bearish sentiment around the Sterling remains unabated so far this week, with GBP/USD trading in levels last seen over a year ago. GBP/USD weak o


Lira plunges vs. dollar as ECB worries about banks exposure to Turkey: report

The Turkish lira plunged to a fresh record low against the U.S. dollar Friday, following a report the European Central Bank is growing more concerned


Have a nice trading!

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