Monthly price is on breakdown: the price was bounced from 200 SMA to below with 1.7132 support level to be broken for the bearish breakdown to be continuing.
D1 price is on bearish breakdown with 1.6682 support level to be broken for the bearish trend to be continuing. Alternative, if the price breaks 1.7140 resistance level to above so the local uptrend as the bear market rally will be started.
Rate decision in the UK and Canada, Employment data in the US and in Australia, US Producer Prices, Inflation data, Retail sales, Consumer Sentiment. These are the main market movers on forex calendar. Canadian Rate decision: Wednesday, 14:00. July’s meeting is exactly one year after the last rate cut, down from 0.75% to 0.50%.US Crude Oil Inventories: Wednesday, 14:00.Australian Employment data: Thursday, 1:30. ...
US Dollar Forecast – USDollar Shows Little Deference to NFPs, Conviction Comes from Abroad It would seem that the Dollar had strong fundamental fuel to revive its climb this past week, but the currency made little effort to revive its post-Brexit rally. British Pound Forecast – While Brexit Makes the Waves, Carney Drives the Pound The British Pound continues to get smashed in the post-Brexit environment, with this week ...
Week Ahead: Relative Value Trades With Degrees of Separation From The Brexit Trade Credit Agricole was analysiing the Brexit situation onto the forex price movement with the taking into account the pairs with the good degrees of the separation from the Brexit trade for example: "Our preference still is for relative value trades like long AUD/NZD.""We stick with our long USD/CAD call as we maintain our constructive view on USD overall especially against G10 commodity ...
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