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USD Daily Review June 19, 2019

USD Daily Review for June 19, 2019

Pre-FOMC Price Action Setups in USD/JPY, AUD/USD, Crude Oil and Gold

Tomorrow brings the FOMC, and there’s little expectation for any actual moves. The driver, and the devil, will be in the details, however.


Kiwi Price Outlook: New Zealand Dollar Counter-Offensive, First Test

A defense of the yearly lows in Kiwi has the recovery testing initial resistance targets ahead of the Fed. Here are the levels that matter on the NZD/USD price charts.


EURJPY, EURUSD Rates Hit by Selling Pressure after Draghi Comments

With ECB President Mario Draghi talking up the possibility of more stimulus, the Euro is under renewed pressure across the board.


USDCNH Drops, Dow Jones Pops as Trump and Xi Set to Meet at G20

The Dow Jones added to already-established gains on Tuesday after President Trump announced he would meet with Chinese President Xi Jinping in Japan next week.


Crude Oil Price Downtrend May be Over – Implications for USDCAD Rates

Crude oil prices have closed below their daily 8-EMA every session since May 22. The bullish key reversal forming today suggests the downtrend may be coming to an end.


US Dollar Price Outlook: USD Back to 97.70, Bulls Push Ahead of FOMC

US Dollar bulls have come back to bid the currency higher after a test of a big zone of support. But can they keep control through tomorrow’s FOMC?


US Dollar Index technical analysis: DXY climbs steadily ahead of the FOMC on Wednesday

The Greenback is starting the week strong. Bullish investors will be scrutinizing the FOMC report on Wednesday. If the Federal Reserves seems not to b


USD/CAD technical analysis: Greenback ends the day near its low against CAD sub-1.3400

USD/CAD is in a bull trend above its 100 and 200-day simple moving average (DSMA). The market found some resistance at 1.3440 and the 50 SMA. USD/CAD


USD/MXN back to the consolidation range, Mexican peso not ready to extend gains

The USD/MXN bounced back to 19.15 from the weekly lows, erasing daily losses. The Mexican peso weakened across the board during the American session d


USD/CHF pulls away from 2-week highs, steadies near parity

After failing to break above the critical parity mark earlier in the day, the USD/CHF pair dropped to 0.9980 but gained traction in the NA session and


EUR/USD unable to reclaim 1.1200, Euro consolidates losses across the board

The EUR/USD pair bottomed at 1.1180 earlier today, the lowest level in two weeks. The recovery was capped by 1.1210 and as of writing trades at 1.1190


AUD/USD climbs out of descending channel on trade talk and Fed optimism

AUD/USD has recovered from the lowest levels since the Jan 2019 flash crash lows on trade talk optimism. Despite the RBA minutes of the June RBA Board


USD/JPY technical analysis: Back into the middle of the range near 108.45

USD/JPY is trading in a bear trend below its main daily simple moving averages (DSMAs). The 50 DSMA crossed below the 100 DSMA which is seen as bearis


USD/CAD slumps below 1.34 as loonie capitalizes on crude oil rally

The USD/CAD pair came under a renewed bearish pressure in the second half of the day and dropped below the 1.34 mark as the commodity-sensitive loonie


NZD/USD rises further on the back of risk appetite, moves away from 0.6500

The NZD/USD pair strengthened after the beginning of the American session amid an improvement in risk sentiment and extended gains. NZD/USD extends th


EUR/USD technical analysis: Euro under heavy pressure below 1.1200 figure

EUR/USD is in a bear trend below its main simple moving average (DSMA). The market is breaking below the 1.1200 figure. EUR/USD 4-hour chart The marke


AUD/USD spikes beyond mid-0.6800s, snapping four days of losing streak amid renewed trade optimism

The AUD/USD pair built on its steady intraday recovery from multi-month lows and spiked to fresh session tops, around the 0.6865-70 region in the last


Pre-FOMC Price Action Setups in USD/JPY, AUD/USD, Crude Oil and Gold

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EUR/USD and GBP/USD Forecast June 19, 2019

The Euro showed a lot of volatility during the trading session on Tuesday, as the markets initially tried to rally during the trading session and reach this …


AUD/USD consolidates near 0.6875 ahead of the key day

Having been buoyed by the upbeat risk sentiment, mainly due to the trade positive news, the AUD/USD pair stabilizes near 0.6875 during the early Wednesday.


NZD/USD remains on the road to recovery ahead of New Zealand current account data

Renewed optimism surrounding the US-China trade talks helps the NZD/USD pair to succeed it its second attempt of recovery.


USDMYR Uptrend Support Eyed as USDPHP May Fall to Key Price Level

The USDMYR uptrend was kept intact by a rising trend line, will it hold again? USDPHP pressured lower by falling resistance and may be looking at another retest of critical support.


EUR/USD: ECB rate cut bets rise, focus on Fed

EUR/USD will likely trade on the defensive ahead of the Fed, courtesy of rising odds of rate cuts by the European Central Bank (ECB). The ECB Presiden


GBP/USD: Modestly flat as markets await UK CPI, British politics ahead of the Fed

GBP/USD traders remain cautious ahead of British CPI, Tory leadership contest and FOMC on early Wednesday.


USD/CAD risk reversals hit 16-month low on demand for CAD calls

USD/CAD risk reversals (CAD1MRR) are currently trading at -0.1, the lowest level since February 2018. The negative number indicates the implied volati


USD/INR technical analysis: Defending confluence of trendline and 200-HMA support

USD/INR fell 0.50% to 69.50 on Tuesday but held on to the confluence of rising trendline and the 200-hour moving average (HMA) support. Both the risin


NZD/USD: Sell-off stalls ahead of the Fed and NZ GDP

The sell-off in the NZD/USD has stalled ahead of the Federal Reserve’s closely-watched policy decision later in the day. The currency pair rose 0.52%


USD/JPY technical analysis: Sideways churn continues with RSI flashing bullish signals

USD/JPY has been restricted to the 108.80-107.80 trading range since June 4. Further, the pair is now trapped in a falling channel for almost two mont


USD/IDR: Bears await Bank Indonesia decision to extend downpour beneath 200-DMA

Having failed to cross the 200-DMA, the USD/IDR pair remains on the back foot ahead of BI meeting as it takes the rounds to 14,272 during early Wednesday.


EURUSD Rate Breakout Undermined by Dovish ECB Forward Guidance

EURUSD struggles to hold its ground ahead of the Fed rate decision as ECB President Mario Draghi endorses a dovish forward-guidance for monetary policy.


EURUSD May Look Past Draghi Comments with FOMC in the Spotlight

While yesterday the Euro took a hit after ECB President Mario Draghi alluded to possible future cuts and reintroduction of QE, markets may look past them as their attention turns to the FOMC.


USD/JPY slides back closer to 108.00 mark, focus remains on FOMC

The USD/JPY pair came under some renewed selling pressure on Wednesday and is currently placed at the lower end of its daily trading range, around the


EUR/USD looks for direction near 1.1200 ahead of FOMC

The shared currency is alternating gains with losses in the middle of the week, with EUR/USD gyrating around the 1.1200 handle amidst a generalized ra


GBP/USD technical analysis: 50-HMA offers intermediate halt inside 25-pip range

Having failed to clear 1.2570, the GBP/USD pair rests on 50-HMA near 1.2555 while heading into the UK open on Wednesday.


EUR/USD: Easing back – Commerzbank

Karen Jones, analyst at Commerzbank, points out that the EUR/USD pair has eased back to support at 1.1176, the March low and between here and the 1.11


US Dollar Index clings to gains near 97.70, FOMC on sight

The greenback is prolonging its relentless up move this week, trading near 2-week highs in the 97.70 region when gauged by the US Dollar Index (DXY).


USD/TRY technical analysis: 50-DMA, 6-week old resistance-line caps near-term upside

The bounce from 38.2% Fibonacci retracement witnesses pullback from 50-day SMA as the USD/TRY pair trades near 5.88 ahead of the European open on Wednesday.


USD/CAD stays calm below 1.34 ahead of Canadian inflation data, FOMC meeting

Despite the broad-based USD strength on Tuesday, the USD/CAD pair posted losses as the rallying crude oil prices helped the commodity-related loonie o


USD/TRY volatile, fades the spike beyond 5.91

The Turkish Lira is giving away part of recent gains and is now lifting USD/TRY to level beyond 5.91 the figure although the up move lost traction aft


NZD/USD consolidates Tuesday’s gains, trades above 0.65 ahead of key events

After adding 40 pips and closing the day at 0.6535, the NZD/USD has gone into a consolidation phase as investors moving to the sidelines ahead of key


USD/JPY technical analysis: Oscillates in a familiar trading range, FOMC eyed for fresh directional impetus

Meanwhile, neutral technical indicators on hourly charts have been supportive of a firm intraday directional move, albeit bearish oscillators on the d


USD/CHF retreats farther below parity mark, focus remains on the Fed

The USD/CHF pair extended its steady intraday slide and weakened farther below the parity mark, hitting fresh session lows in the last hour. The pair


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