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Dollar

EURUSD watching the rangeThe euro continues to hold around the 1.1200 level against the US dollar as traders await a much-needed breakout in the US dollar index this week. The 1.1160 level is the key support level to watch and the gateway to further losses towards the 1.1135 level. Bulls also have an interesting set-up this week, with gains above the 1.1250 likely to prompt a key technical test of the EURUSD pairs 200-day moving average. The EURUSD pair is only bearish while trading below the 1.1180 level, key support is found at the 1.1160 and 1.1135 levels. If the EURUSD pair trades above the 1.1180 level, bulls may test towards the 1.1248 and 1.1290 levels.
by OctaFX_Official
GBPUSD data focusThe British pound is trading on the back foot against the US dollar, ahead of the release of important second-quarter GDP data from the United Kingdom economy. A break below the 1.2080 level will start to put the psychological 1.2000 support level in focus. Better than expected United Kingdom GDP data may see a strong rally back towards the pivotal 1.2250 resistance level. The GBPUSD pair is only bearish while trading below 1.2200, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2200 level, buyers may test towards the 1.2250 and 1.2310 levels.
by OctaFX_Official
EURUSD growing bullishThe euro is once again attempting to gain traction above the 1.1200 level against the US dollar, following another impressive recovery from the 1.1180 level. Buyers need to negate the double-top pattern formation to secure the next bullish rally towards the 1.1290 region. The EURUSD pair is also becoming increasingly sensitive to calls from US President Donald Trump calling for a strong US dollar. The EURUSD pair is only bearish while trading below the 1.1180 level, key support is found at the 1.1160 and 1.1135 levels. If the EURUSD pair trades above the 1.1180 level, bulls may test towards the 1.1238 and 1.1290 levels.
by OctaFX_Official
EURUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.116. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.122. TP4: R2=1.125. Set the stoploss of these orders at breakout of S2=1.1135. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.1135. In this situation, there is an expectation to reach the target S3=1.1055. Set the stoploss of reverse orders at breakout of S1=1.116. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity_EU
USDJPY 105.40 trigger levelThe US dollar has fallen to a fresh monthly trading low against the Japanese yen and bounced sharply, as risk-off trading sentiment pauses. The USDJPY pair may test back towards the 107.00 level if bulls can edge price back above the 106.60 resistance area. Technical indicators across the lower time frames are having a much-needed correction from extreme oversold levels. The USDJPY pair is bearish while trading below the 106.00 level, key support is found at the 105.50 and 105.00 levels. The USDJPY pair is only bullish while trading below the 106.00 level, key technical resistance is found at the 106.60 and 106.90 levels.
by OctaFX_Official
EURUSD double-top weighsThe euro is appearing increasingly bullish against the US dollar in the short-term, with the pair becoming bought up sharply on any technical pullbacks. If EURUSD bulls can stabilize price above the bearish double-top pattern, the pair could launch an attack towards huge weekly resistance, at 1.1290. Only a sustained move below the 1.1187 level can dampen the bullish sentiment towards the EURUSD. The EURUSD pair is only bearish while trading below the 1.1187 level, key support is found at the 1.1160 and 1.1135 levels. If the EURUSD pair trades above the 1.1238 level, bulls may test towards the 1.1290 and 1.1323 levels.
by OctaFX_Official
Don't miss the great buy opportunity in AUDUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (0.6735). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDUSD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 44. Take Profits: TP1= @ 0.6830 TP2= @ 0.6905 TP3= @ 0.7000 SL= Break below S2
Long
by ForecastCity_EU
1
EURUSD dip buying preferredThe euro currency is becoming increasingly bullish against the US dollar in the short-term, as the pair continues to hold price above key technical support. EURUSD dip-buying is now preference as bulls attempt to force price above the 1.1238 resistance barrier. Overall, the EURUSD pair is only technically bearish on an intraday basis while trading below the 1.1187 support level. The EURUSD pair is only bearish while trading below the 1.1187 level, key support is found at the 1.1170 and 1.1138 levels. If the EURUSD pair trades above the 1.1187 level, bulls may test towards the 1.1238 and 1.1280 levels.
by OctaFX_Official
GBPUSD fails at 1.2200 againThe British pound is back under downside pressure against the US dollar after the pair suffered a hard technical rejection from the 1.2200 resistance level. The GBPUSD pair may test back towards the 1.2080 level as upside momentum starts to fade again. Overall, traders may start to exit positions ahead of the release of the main weekly market mover for sterling, second-quarter GDP data from the UK economy. The GBPUSD pair is only bearish while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2250 level, buyers may test towards the 1.2310 and 1.2350 levels.
by OctaFX_Official
EURUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.116. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1225. TP4: R2=1.1245. Set the stoploss of these orders at breakout of S2=1.114. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.114. In this situation, there is an expectation to reach the target S3=1.1065. Set the stoploss of reverse orders at breakout of S1=1.116. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity_EU
EURUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.114. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.119. TP4: R2=1.1205. Set the stoploss of these orders at breakout of S2=1.113. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.113. In this situation, there is an expectation to reach the target S3=1.1065. Set the stoploss of reverse orders at breakout of S1=1.114. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity_EU
EURUSD lower before higherThe euro is trading around the 1.1130 level against the US dollar, after a fairly solid former weekly price close back above the 1.1100 support level. Traders may need more technical confirmation that a meaningful bottom is in place before turning fully short-term bullish on the EURUSD. Overall, EURUSD traders should be on guard for a bullish double-bottom pattern forming this week. The EURUSD pair is only bearish while trading below the 1.1100 level, key support is found at the 1.1040 and 1.1020 levels. If the EURUSD pair trades above the 1.1100 level, bulls may test towards the 1.1140 and 1.1185 levels.
by OctaFX_Official
1
GBPUSD more weakness expectedThe British pound remains vulnerable to further losses against the US dollar this week, following another heavily bearish weekly price close. Negative UK PMI services data later today could push the GBPUSD pair lower for a major test of the 1.2000 support level. In the near-term, if sterling bulls can regain control, they are likely to face strong resistance from the 1.2250 level. The GBPUSD pair is bearish while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2250 level, buyers may test towards the 1.2310 and 1.2350 levels.
by OctaFX_Official
GBPUSD limited bounceThe British pound has staged a bounce from the 1.2080 level against the US dollar, following a string of softer US macroeconomic data releases. Minor bounces back towards the 1.2200 resistance level may occur, although further downside towards the 1.2000 is still expected. Traders are also focused on the US monthly jobs report later today, with any downside shocks likely to be taken as negative for the US dollar. The GBPUSD pair is bearish while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2150 level, buyers may test towards the 1.2189 and 1.2220 levels.
by OctaFX_Official
USDJPY watching 106.82The US dollar has reversed sharply against the Japanese yen after President Trump announced another round of trade tariffs on Chinese imports coming into America. The 106.40 level is now in focus, with the 106.82 level the foremost technical support before. Overall, a move below the 106.82 level will completely invalidate the bullish inverted head and shoulders pattern on the four-hour time frame The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels. The USDJPY pair is bearish while trading below the 108.60 level, key technical support is found at the 106.82 and 106.40 levels.
by OctaFX_Official
EURUSD below yearly rangeThe euro has fallen below the 1.1100 level against the US dollar, marking a bearish monthly price close beneath the bottom of its yearly price range. The EURUSD pair could eventually target towards the 1.0900 level now the range is breached. Key downside target to watch in the interim for the EURUSD pair is located at the 1.1000 and 1.0980 support levels. The EURUSD pair is heavily bearish while trading below the 1.1100 level, key support is found at the 1.1000 and 1.0980 levels. If the EURUSD pair trades above the 1.1100 level, bulls could test back towards the 1.1125 and 1.1160 levels.
by OctaFX_Official
GBPUSD 1.2000 on the cardsThe British pound has taken a heavy tumble from the 1.2200 level against the US dollar, leaving the multi-year low for the pair exposed. A bearish breakdown below the 1.2110 level should see the GBPUSD pair testing towards the 1.1985 to 1.2000 support region. The UK manufacturing PMI later today and Bank of England rate decision could also be bearish for the British pound. If the GBPUSD pair trades above the 1.2180 level, key resistance is found at the 1.2250 and 1.2310 levels. If the GBPUSD pair breaks below the 1.2110 level, sellers may test towards the 1.2050 and 1.2000 levels.
by OctaFX_Official
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.212. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.221. TP4: R2=1.2245. Set the stoploss of these orders at breakout of S2=1.21. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.21. In this situation, there is an expectation to reach the target S3=1.201. Set the stoploss of reverse orders at breakout of S1=1.212. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity_EU
EURUSD running out of timeThe euro remains technically weak against the US dollar, further placing the pair in a vulnerable position going into the FOMC interest rate decision later today. Bulls inability to break the 1.1160 resistance level is placing the emphasis back towards more EURUSD downside. Only a sustained move above the 1.1187 resistance level can put the pair on more certain footing ahead of the main event later today. The EURUSD pair is bearish while trading below the 1.1187 level, key support is found at the 1.1100 and 1.1050 levels. If the EURUSD pair trades above the 1.1187 level, bulls could test back towards the 1.1215 and 1.1244 levels.
by OctaFX_Official
USDJPY awaiting trade talks updateThe US dollar has pulled back from the 109.00 level against the Japanese yen currency, following bearish comments from President Trump towards Sino-US trade talks. A bullish inverted head and shoulders remain in play, with the 110.00 level still the favored target. Continued technical failure before the 109.00 resistance level will eventually start to weigh on the USDJPY pair. The USDJPY pair is bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 110.00 level. The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.40 and 108.00 levels.
by OctaFX_Official
EURUSD 1.1187 breakout neededThe euro is continuing to move higher against the US dollar after sellers failed to move price below the key 1.1100 support level. EURUSD bulls need to move price above the 1.1187 level to encourage further buying towards the 1.1215 resistance level. Overall, bearish momentum will start to grow if bulls fail to overcome interim resistance around EURUSD pairs former technical base, at 1.1160. The EURUSD pair is only bearish while trading below the 1.1160 level, key support is found at the 1.1100 and 1.1050 levels. If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1187 and 1.1215 levels.
by OctaFX_Official
USDJPY 110.00 likely targetThe US dollar continues to move higher against the Japanese yen, with the pair moving to a fresh monthly trading high on Tuesday. The 110.00 level is the preferred upside target for the USDJPY pair now that the 109.00 resistance level has been breached. USDJPY bears may also be looking to sell into strength around the 110.00 level if Sino-U.S trade talks fail to find a resolution. The USDJPY pair is bullish while trading above the 108.60 level, key resistance is found at the 109.55 and 110.00 level. The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.40 and 108.00 levels.
by OctaFX_Official
EURUSD bulls need to defend 1.1100The euro has started the new trading week slightly firmer against the US dollar as bulls continue to defend the current yearly trading low. If bulls continue to defend the 1.1100 support level the EURUSD pair could eventually reverse back towards the 1.1215 area. A move under the 1.1100 level should see the EURUSD pair performing a bearish breakout towards the 1.1050 level. The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1100 and 1.1050 levels. If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1185 and 1.1215 levels.
by OctaFX_Official