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The US has decided to slam the EU, Mexico, and Canada with tariffs, alongside China.
The White House proved to be deaf once again as they refused to heed warnings from foreign politicians and international organizations like the WTO, who all have talked about how a global trade war would be terrible for the economy.
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The trend is yet to be determined.
On the our chart we can see that our pair found a resistance level near the 1.3250 mark, from which it rushed up again.
After a long rally for the dollar, its index is currently down to around 93.90. Against the background of this retreat, our quotations have moved to local growth.
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We provide Forex analysis on major currencies: (EUR/USD) (USD/CAD) (AUD/USD) (USD/GBP).
We begin with the EUR/USD. And we expect the trend to continue until the resistance level at the mark of 1.1840 is reached.
Next is the GBP/USD. We expect that after crossing the mark of 1.3390 the pair will move to the next resistance level around the mark of 1.3475.
Then is the AUD/USD. It approached the lower border at the level of 0.7615, moving ahead to the level of 0.7640
And the last pair is the USD/CAD. We think soon it may move closer to the mark of 1.3010.
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At the moment we see that the pair went on with the alternative scenario. Now the 4th wave is forming as a part of a major correction. Despite the fact that the macroeconomic data from the United States has showed a positive trend, at the moment the pair continues its upward movement.
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The United States will have no friend during this year's meeting, it seems.
Today marks the opening of a two-day G7 summit in La Malbaie, Canada. The summit will be attended by representatives of the G7: PM Justin Trudeau (Canada), President Emmanuel Macron (France), Chancellor Angela Merkel (Germany), newly-elected PM Giuseppe Conte (Italy), PM Shinzo Abe (Japan), PM Theresa May (UK), President Trump (US), and the President of the European Commission Jean-Claude Juncker together with the President of the European Council Donald Tusk (European Union).
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The pair is on the rise.
Today we would take a look at the EUR/USD currency pair, which is one of the most popular trading instruments. Since last week the pair has continued to climb, though only modestly. Currently it is approaching a monthly high above 1.18.
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The dollar index opened today with an up gap and is currently returning to the closing mark of yesterday.
We see rising minimums and highs on the chart, that’s why we conducted an ascending equidistance channel.
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Investors are waiting for increase of the FED rate. The deals to BUY seems most effective at the moment
The rates continue in the frames of the upward trend. Despite the fact that on the chart we can see signs of the trend reversal in the near future, it is unlikely to happen in the near future amid reducing geopolitical tensions and increasing demand for risky assets.
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The pair was lost impulse.
Fed decision on interest rates was published yesterday, as expected, the rate was raised by 25 basis points to 2%. During the publication, we observed a sharp jump in the dollar on the chart.
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Decrease in oil price impact the CAD value. The deals to BUY still can be effective at least before upcoming OPEC meeting in a week.
If you look at the oil rates and the AUDCAD rates, you can see a lot of common things - huge impact of oil value to the CAD. After the oil began to decrease, has formed an upward trend in favor of the Australian dollar, despite the fact that the Australian economy is becoming less attractive to investors
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