Fxequity

USD, USD/JPY, EUR/USD Key Ranges


US Greenback Forecast: Impartial

  • US Dollar Index (DXY) continues to commerce inside a well-defined vary
  • EUR/USD stalls at vital assist, beneath 1.16
  • USD/JPY takes a breather after falling from psychological resistance

The secure haven US Greenback has lately misplaced momentum towards main forex pairs as fundamentals proceed to weigh on threat urge for food.

After breaking above the important thing psychological degree of 90.00 in June, the US Greenback Foreign money Index (DXY) has confirmed to be on a robust upward trajectory which continues to carry, no less than for now.

With worth motion at present testing the 93.5 deal with, costs are buying and selling above each the 50 and 200-day shifting common (MA) with the MACD above the zero-line.

US Greenback Foreign money Index (DXY) Each day Chart

US Dollar Outlook: USD, USD/JPY, EUR/USD Key Levels

Chart ready by Tammy Da Costa utilizing TradingView

With costs now resting beneath the 50% retracement degree of the 2001 – 2008 transfer at 95.843, this degree will doubtless proceed to carry as sturdy resistance for each the quick and medium-term transfer.

EUR/USD Technical Evaluation

EUR/USD worth motion is at present buying and selling inside a well-defined vary between the confines of a descending channel.

On the time of writing, the main forex pair continues to check the 50% Fibonacci retracement degree of the 2018 – 2020 across the vital psychological degree of 1.160.

In the meantime on the every day time frame, the shifting common convergence/divergence (MACD) has crossed beneath the zero line, a possible indication that the momentum on the downtrend could also be shedding steam.

EUR/USD Each day Chart

US Dollar Outlook: USD, USD/JPY, EUR/USD Key Levels

Chart ready by Tammy Da Costa utilizing TradingView

So long as the channel continues to carry, the 1.16 deal with will doubtless stay as rapid resistance with a break increased bringing the subsequent large resistance degree into play at 1.18.

To be taught extra about worth motion or chart patterns, take a look at our DailyFX Education part.

USD/JPY Technical Evaluation

After climbing to the important thing psychological degree of 114, the momentum of the uptrend has quickly stalled permitting bears to drive costs barely decrease.

With the MACD buying and selling well-above the zero-line, the uptrend at present stays intact for now with assist and resistance between 113 and 114 respectively.

USD/JPY Each day Chart

US Dollar Outlook: USD, USD/JPY, EUR/USD Key Levels

Chart ready by Tammy Da Costa utilizing TradingView

To ensure that bullish continuation to be possible, bulls might want to drive costs above each 114 and above the subsequent vital degree of resistance on the three yr excessive of 114.55.

— Written by Tammy Da Costa, Analyst for DailyFX.com

Contact and observe Tammy on Twitter: @Tams707





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