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USD Daily Review November 6, 2018

USD Daily Review for November 6, 2018

GBP/USD Extends Bullish Sequence, RSI Threatens Trendline Resistance

GBP/USD may stage a large rebound ahead of the Federal Reserve meeting as the exchange rate extends the series of higher highs & lows from


Elliott Wave Patterns Point to Softening US Dollar and SP 500

The pivot towards US Dollar weakness late last week suggests that trend may continue in the near term pushing EURUSD higher. SP 500 bounce keeps


EUR/USD Price Outlook: Euro Battle Lines Drawn ahead of FOMC

Euro defended the yearly lows last week with price turning from key support. Here are the targets & invalidation levels that matter on the EUR/USD


NZD/USD: perched above key descending channel resistance turned support

NZD/USD has been stabilising in recent weeks and moving into a neutral formation on the weekly charts above the prior 2018 resistance line and outside


GBP/USD extends daily rally to fresh 2-week high at 1.3050

Despite the disappointing Service PMI data from the UK, the British pound outperformed its peers on Monday as investors stayed focused on Brexit headl


EUR/USD extends gains above 1.1400 ahead of US mid-term elections

The EUR/USD pair broke to the upside during the American session and reached a fresh daily high at 1.1423. Near the end of the session was consolidati


NZD/USD looks to end day with modest gains above mid-0.66s

After starting the week with a small bearish gap, the NZD/USD pair gained traction and turned positive on the day above 0.6650. With the greenback rem


USD/JPY continues to fluctuate in daily range above 113

The USD/JPY extends its sideways movement into the NA session and struggles to determine its next short-term direction as investors stay on the sideli


USD/CAD recovers to 1.31 area, struggles to find direction

After moving sideways in a narrow channel above the 1.31 mark during the first half of the day, the USD/CAD pair came under a bearish pressure and fel


GBP/USD: stalling price action, mixed messages – Scotiabank

Analysts at Scotiabank explained the conditions surrounding the pound with recent data weakening, Brexit headlines and stalling price action. Key Quo


AUD/USD: inverted hammer could play out, but bulls still active at 0.72 handle

AUD/USD has been consolidating around the vicinity of the 0.72 handle after last week’s impressive breakout and test of the daily trend line resistanc


Weekly Trade Levels for EUR/USD, AUD/USD, Gold, & More…


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

The currency markets were a bit tough to deal with during the trading session on Monday, as traders await the midterm elections in the United States. As both…


Gold Prices May Fall as US Midterm Elections Boost US Dollar

Gold prices may fall as the outcome of US midterm elections boosts the US Dollar, tarnishing the appeal of anti-fiat alternatives.


AUD/USD Prices Shrug Off RBA, US Elections May Cause Reversal

AUD/USD gained slightly as the Reserve Bank of Australia kept the OCR at 1.50%, but upside follow-through may be threatened by rate differentials and US


AUD/USD Rate Rebound Vulnerable to Wait-and-See RBA Policy

The Reserve Bank of Australia (RBA) rate decision may rattle the rebound in AUD/USD as the central bank is expected to keep the official cash


GBP Rallies on Brexit Headlines, AUD/USD Price May Look Past RBA

The British Pound resumed its advance on latest Brexit headlines as the US Dollar pulled back ahead of the 2018 US midterms. The Australian Dollar


PBOC Adviser Ma: Whether or not Yuan hits level of 7.00 vs. USD ‘isn’t that crucial’

Comments are crossing the wires now, delivered by PBOC adviser, Ma Jun, in an interview with Bloomberg. Whether or not Yuan hits the level of 7.00 to


Dollar index holds above 38.2% Fib ahead of the US midterm elections

The dollar index (DXY) is currently trading at 96.40, having defended the 38.2 percent Fibonacci support of 96.04 on Friday. The greenback is trading


GBP/USD looking to hold onto 1.3050 ahead of Tuesday’s politics-heavy news flow

The GBP/USD is continuing to struggle near the 1.3050 level heading into Tuesday’s London market session as a notable lack of a workable Irish border


AUD/USD: no response to the status quo RBA policy

The AUD/USD barely moved after the Reserve Bank of Australia (RBA) held interest rates unchanged at 1.5 percent for the 26th straight month. Despite


Dollar losses ease ahead of US Midterm elections; Nasdaq is dragged lower by Apple and Amazon

Dow and S&P closed in the positive yesterday but Nasdaq slipped lower Monday at close. Dragging the tech index lower were companies the likes of Apple, that suffered an analyst downgrade on expectations of a decline in iphone sales; and Amazon that found itself in the middle of an anti-trust investigation.


US Dollar May Rise as the Yen Falls on Midterm Elections Outcome

The US Dollar may rise while the Yen declines as the outcome of closely-watched midterm elections stokes Fed rate hike speculation and buoys risk appetite.


EUR/USD Technical Analysis: Fiber looking for near-term lift from 1.1400

EUR/USD M5 Hourly candles see the Euro trapped in a heavy cyclical pattern circling the 1.1400 handle, after picking up from recent lows at the 1.1


GBP/USD Technical Analysis: Marking in a foothold from 1.3050

GBP/USD M5 Hourly candles are showing a promising bullish stance for the Cable, with the 50-hour moving average providing firm support from the 1


Forex Today: US dollar better bid heading into the US mid-term elections

Forex today in Asia was a quiet affair today, with most majors sticking to tight trading ranges, as the investors trade with caution in the run up to


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

The Euro is trading around a critical area with potential to trigger a technical pattern, USD/JPY is wedging up, USD/ZAR testing big support, while gold


EURUSD to be Driven by Eurozone Economy as Well as US Elections

In a week when EURUSD will likely be driven by the US mid-term elections, traders in the pair should also keep an eye on developments


Gold Price Stuck Between a Strong USD and Heightened Trade War Risk

Gold remains calm ahead of the US Midterm Elections and is currently garnering strength from a weak US dollar as voters go to the ballot


EUR/USD comes under pressure near 1.1400, US elections on sight

The selling pressure around the European currency appears to have returned and is now forcing EUR/USD to drop to daily lows in the 1.1390 area. EUR/U


USD/JPY: Near-term direction to be dominated by the US elections outcome – Nomura

Yujiro Goto, Research Analyst at Nomura, notes that the USD/JPY has been trading resiliently ahead of the US midterm elections tonight and points out


US Dollar Index picks up pace and tests 96.40, daily highs

The US Dollar Index (DXY), which tracks the buck vs. its main competitors, has regained the positive ground and tests the area of daily highs in the b


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

The Euro is trading around a critical area with potential to trigger a technical pattern, USD/JPY is wedging up, USD/ZAR testing big support, while gold trea…


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