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USD/JPY Dips below 50-hour EMA

USD/JPY Technical Analysis: Dips below 50-hour EMA as S&P 500 futures drop 0.5%

- The USD/JPY cut through rising trendline support earlier today, the hourly chart shows and is now trading below the 50-hour exponential moving average (EMA) of 112.63.
- The anti-risk JPY seems to have picked up a bid, courtesy of a 0.55 percent drop in the S&P 500 futures.
- The key EMAs are biased toward the bulls - 50-hour, 100-hour and 100-hour EMAs are trending north. More importantly, the stacking order of the 50-hour EMA, above the 100-hour EMA, above the 200-hour EMA is a classic bull signal.
- Further, the pair closed well above 112.73 yesterday, signaling a revival of the recovery rally from the recent low of 111.62. Hence, the spot could bounce off the 200-hour EMA of 112.54.
- However, the support at 112.54 would be breached if the risk aversion worsens. Also, a daily close below 112.73 would weaken the odds of a rally to 113.18.

Spot Rate: 112.57

Daily High: 112.84

Daily Low: 112.55

Trend: Bullish

USD_JPY hourly-636758589201394294.png

Source: https://www.fxstreet.com/news/usd-jpy-t ... 1810230235
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USD strongest signal since GFC

Citi Month-end FX hedge rebalancing model sends a strong signal to buy USD. The average signal strength measures around 2 historical standard deviations, making it the strongest USD buy-signal since the Global Financial Crisis of 2008. $USD

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7.00 important level in USD/CNY

China said to view 7.00 as "important" level in USD/CNY, likely to intervene to stop rapid yuan fall

According to a Reuters source
Saying that Chinese authorities are viewing the 7.00 threshold to be an important one for the pair and that they would likely intervene to stop a rapid fall in the yuan. USD/CNY touched a decade high earlier in the day but soon after gave back those gains and moved lower.

It is now trading very much flat on the day and the comments here should keep buyers in-check for the time being, until the next PBOC fixing allows for a move higher that is.


Source: https://www.forexlive.com/news/!/china- ... l-20181026

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Breaking: US GDP beats with 3.5%

Breaking News: US GDP beats with 3.5%, USD looks strong

The US was expected to report annualized GDP growth of 3.3% in the Q3 2018, slower than 4.2% in Q2, which was the highest in four years.

The US Dollar and the Japanese Yen were marching forward ahead of the publication amid the sell-off in stock markets. Concerns about the Brexit impasse, the clash between Italy and the European Commission, the Fed's hawkish policy, and tariffs all weigh on equities and investors are flocking into safe-haven assets.

A stronger-than-expected reading helps US futures bounce modestly, limiting USD gains across the board. Investors considering whether to keep buying the greenback or take profits out of the table ahead of the weekend.

Keep an eye on stocks.

Source: https://www.fxstreet.com/macroeconomics ... icator/gdp
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USD/JPY tests broken trend line

USDJPY tests underside of broken trend line

The USDJPY fell below its 100 day MA and tested a swing target at 111.39. That is where the selling stalled.


Getting back above the 100 day MA (see 5- minute chart) turned the tide back to the upside.


The rally has taken the price back to the underside of the broken trend line on the daily chart at 112.09. That is stalling the rally here, and is the next target to get above if the bulls are run more.

Stocks are slowly moving back toward the unchanged area, but is still down on the day. S&P is back in the black for the year above 2673 (trade at 2688 now) but is down -0.65%. The Nasdaq is odwn -0.56% but Alphabet which was down 5-6% (I think around there) is now up on the day. Amazon is still down $89 or -5% but well off the low at $1603 (trades at $1678)

Source: https://www.forexlive.com/technical-ana ... e-20181026
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US annual gains fall below 6% for the first time in 12 months

US annual gains fall below 6% for the first time in 12 months

S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for August 2018 shows that home prices continued their rise across the country over the last 12 months.

Read more: https://www.spice-indices.com/idpfiles/ ... nload=true
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US Dollar Index tumbles

US Dollar Index tumbles further near 95.80

- The index loses further momentum and drops to the 95.90/85 band.
- US 10-year yields come up after dropping to 2.95% earlier in the day.
- Market attention remains on the US mid-term elections results.

The US Dollar Index (DXY), which tracks the greenback vs. its main competitors, remains under heavy pressure this week and is now testing lows in the 95.90/85 band.

US Dollar Index drops to multi-day lows

The greenback stays fragile so far this week, losing ground for the third consecutive session and navigating fresh multi-day lows in the vicinity of 95.90.

The greenback came under renewed and strong selling pressure following the results from the US mid-term elections. In fact, and matching initial forecasts, the elections now show a divided Congress, where Republicans keep control of the Senate and Democrats regained the House of Representatives.

In addition, yields of the key US 10-year reference are now sidelined around 3.19% after bottoming out in the 2.95% region soon after the elections results.

In the US data space, the weekly report on US crude oil supplies by the DoE will be the only release of note.

US Dollar Index relevant levels

As of writing the index is losing 0.46% at 95.79 facing the next support at 95.47 (low Oct.20) seconded by 95.38 (55-day SMA) and finally 95.22 (100-day SMA). On the other hand, a breakout of 96.49 (10-day SMA) would open the door to 96.68 (high Nov.5) and then 97.19 (2018 high Oct.31).

Source: https://www.fxstreet.com/news/us-dollar ... 1811070931
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USD/CHF Technical Analysis: 100-day MA support could be put to test today

USD/CHF Technical Analysis: 100-day MA support could be put to test today

The corrective bounce in the USD/CHF pair has likely ended and the sell-off from the recent high of 1.0128 looks set to resume, according to technical charts. As of writing, the spot is trading at 0.9947 and could drop to the 100-day moving average (MA) of 0.9888 later today.

Hourly chart
USD_CHF (2)-636783735728363775.png
As can be seen above, the corrective bounce called by the bullish divergence of the RSI is struggling to cross the downward sloping (bearish) 50-hour MA. The repeated failure to beat that average could be considered a sign the recovery has ended.

Daily chart
USD_CHF (3)-636783735983057809.png
The bearish view put forward by the negative RSI divergence on Nov. 13 has gained more credence in the last few days, courtesy of the bearish crossover between the 5- and 10-day MAs, RSI’s move below 50.00 and pair’s drop to a one-month low of 0.9909. Simply put, the bear grip has strengthened in the last few days. As a result, a drop to 100-day MA could be in the offing.

Trend: Bearish


Last Price: 0.9944
Daily change: -8.0 pips
Daily change: -0.0804%
Daily Open: 0.9952

Daily SMA20: 1.0027
Daily SMA50: 0.9896
Daily SMA100: 0.989
Daily SMA200: 0.98

Daily High: 0.996
Daily Low: 0.9908
Weekly High: 1.013
Weekly Low: 0.999
Monthly High: 1.0096
Monthly Low: 0.9801
Daily Fibonacci 38.2%: 0.994
Daily Fibonacci 61.8%: 0.9928
Daily Pivot Point S1: 0.992
Daily Pivot Point S2: 0.9889
Daily Pivot Point S3: 0.9869
Daily Pivot Point R1: 0.9971
Daily Pivot Point R2: 0.9991
Daily Pivot Point R3: 1.0022

Source: https://www.forexcrunch.com/usd-chf-tec ... est-today/
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