Dollar climbs after falling back to sort, short-term difficult to continue to rise

Forex technical analysis:

DXY retreated to earlier gains on Friday and edged lower as uncertainty over the future of the U.S.-China trade deal continued to unsettle investors. But trading markets have been shorter since last week’s U.S. Thanksgiving holiday, limiting exchange rate volatility. Earlier, DXY rose to its highest level of 98.544 since October 15, after being virtually flat last week.

China has vowed to call for “resolute countermeasures” after U.S. President Donald Trump approved a measure Wednesday to support pro-democracy protesters in Hong Kong. China has not stated whether the move will have any impact on trade talks. Negotiators from the world’s two world’s largest economies have been stressing for weeks to hammer out a “phase one” trade deal that markets hope will be signed by the end of the year.

Better-than-expected inflation in the euro zone in November helped the EURO rise slightly, but inflation remains below the ECB’s target, then the prospect for the future remains uncertain. In summation, while DXY’s Intraday gains were held back, DXY’s 0.9% gain in November, its best monthly performance since July, continued to benefit from a relatively strong economic performance. Data released on Wednesday presented a slight rebound in U.S. Economic development in the third quarter, in contrast to other indicators that suggest a slowdown in global economic activity.

Forex fundamental analysis:

DXY’s rally on Friday was held below 98.55, with the correction supported above 98.22 and closing at 98.27, meaning the USD is likely to hold the correction after a short rally. If DXY rises below 98.50 today, the quarry of the post-market correction will point to 98.15-98.05. Today, DXY short-term resistance at 98.45-98.50, short-term important resistance 98.60-98.65. DXY short-term support at 98.15-98.20, short-term important support at 98.00-98.05.

EUR/USD fell above 1.0980 on Friday, rebounding below 1.1030 and closing at 1.1017, meaning the EUR/USD is likely to remain on the rebound after a short-term decline. If EUR/USD falls above 1.0990 today, the goal of the post-market rally will be 1.1035-1.1055. Today EUR/USD short-term resistance at 1.1030-1.1035, short-term important resistance at 1.1050-1.1055. EUR/USD short-term support at 1.0990-1.0995, short-term important support at 1.0960-1.0965.

Forex Trading Strategy Recommendations:

DXY: 98.45 Sell, 98.70 Stop Loss, 98.05 Take Profit

EUR/USD: 1.0990 Buy, 1.0960 Stop Loss, 1.1055 Take Profit

GBP/USD: 1.2895 Buy, 1.2855 Stop Loss, 1.2980 Take Profit

USD/CHF: 1.0020 Sell, 1.0045 Stop Loss, 0.9960 Take Profit

USD/JPY: 109.65 Sell, 109.90 Stop Loss, 109.25 Take Profit

AUD/USD: 0.6780 Sell, 0.6800 Stop Loss, 0.6735 Take Profit

USD/CAD: 1.3255 Buy, 1.3230 Stop Loss, 1.3330 Take Profit

The market is in the midst of a holiday, with less volatility in the USD

Forex technical analysis:

On Thursday, DXY remained stable overall, with non-U. S. Continues mixed, with the EUR rising slightly and GBP continues to recede. The overall strength of U.S. Economic data released overnight bolstered the Fed’s stance on a moratorium on interest rate cuts.

Economic data released overnight bolstered the Fed’s posture on a moratorium on interest rate cuts. Despite the EUR’s dominance in global financing, the EUR has not weakened further because of the considerable amount of investment-related inflows. INFLOWS OF EUR RELATED TO FOREIGN DIRECT INVESTMENT (FDI) HAVE REACHED THE HIGHEST LEVEL IN 20 YEARS. The current inflow and outflow of EUR appear to be in proportion, leaving EUR/USD in a tight trading range.

But a closely watched poll for Britain’s general election suggests Prime Minister Boris Johnson is on course to gain an outright majority. As long as the Conservatives gain a majority in the general election, the GBP could sweep away the gloom and rise sharply in the short term.

Forex fundamental analysis:

The DXY rebounded below 98.45 on Thursday, with a correction above 98.25 and closing at 98.34, meaning the USD short-term correction is likely to stay at a rally. If the DXY pullback is supported above 98.25 today, the quarry of the post-market rally will point to 98.45-98.50. Today, DXY short-term resistance at 98.40-98.45, short-term important resistance 98.45-98.50. DXY short-term support at 98.25-98.30, short-term important support at 98.15-98.20.

Thursday’s EUR/USD correction was supported above 1.0995, rebounding below 1.1020 and closing at 1.1009, meaning that the EUR/USD short-term rally is likely to stay on a correction. If EUR/USD bounces below 1.1020 today, the quarry of the post-market correction will point to 1.0995-1.0985. Today EUR/USD short-term resistance at 1.1015-1.1020, short-term important resistance at 1.1025-1.1030. EUR/USD short-term support at 1.0995-1.1000, short-term important support at 1.0985-1.0990.

Forex Trading Strategy Recommendations:

DXY: 98.25 Buy, 98.15 Stop Loss, 98.50 Take Profit

EUR/USD: 1.1020 Sell, 1.1035 Stop Loss, 1.0990 Take Profit

GBP/USD: 1.2880 Buy, 1.2850 Stop Loss, 1.2945 Take Profit

USD/CHF: 1.0000 Sell, 1.0015 Stop Loss, 0.9970 Take Profit

USD/JPY: 109.35 Buy, 109.20 Stop Loss, 109.75 Take Profit

AUD/USD: 0.6780 Sell, 0.6795 Stop Loss, 0.6750 Take Profit

USD/CAD: 1.3310 Sell, 1.3325 Stop Loss, 1.3270 Take Profit

U.S. Data boost supports dollar’s modest rise

Forex technical analysis:

Wednesday, in advance of the Thanksgiving holiday, the U.S. Published a series of heavy economic data. Data showed third-quarter GDP was revised upward to 2.1%, up from 1.9% earlier. Durable goods orders rose 0.6% in October, well above expectations of a 0.8% fall. While initial jobless payments fell to 213,000, compared with 227,000 last week,and the closely watched inflation indicator, the core PCE price index, rose 0.1% a month, in line with expectations. Later the data came out, the DXY short-term pulled up about 15 points, and then fell back from the Japanese high, THE EUR and other major non-US currencies and spot gold under pressure to fall;

Forex fundamental analysis:

The DXY pullback on Wednesday was supported by a rally above 98.20, rising below 98.45 and closing at 98.37, meaning the USD is likely to hold the correction after a short rally. If DXY rises below 98.50 today, the quarry of the post-market correction will point to 98.25-98.10. Today, DXY short-term resistance at 98.45-98.50, short-term important resistance 98.55-98.60. DXY short-term support at 98.25-98.30, short-term important support at 98.10-98.15.

The EUR/USD rally on Wednesday was held back in 1.1030, falling above 1.0990 and closing at 1.1005, meaning the EUR/USD is likely to remain on the rebound after a short-term decline. If EUR/USD falls above 1.0990 today, the goal of the post-market rally will point to 1.1025-1.1040. Today EUR/USD short-term resistance at 1.1020-1.1025, short-term important resistance at 1.1040-1.1045. EUR/USD short-term support at 1.0985-1.0990, short-term important support at 1.0970-1.0975.

Forex Trading Strategy Recommendations:

DXY: 98.45 Sell, 98.60 Stop Loss, 98.15 Take Profit

EUR/USD: 1.0990 Buy, 1.0970 Stop Loss, 1.1040 Take Profit

GBP/USD: 1.2880 Buy, 1.2850 Stop Loss, 1.2970 Take Profit

USD/CHF: 1.0010 Sell, 1.0030 Stop Loss, 0.9960 Take Profit

USD/JPY: 109.20 Buy. 108.80 Stop Loss, 110.00 Take Profit

AUD/USD: 0.6770 Buy, 0.6755 Stop Loss, 0.6800 Take Profit

USD/CAD: 1.3295 Sell, 1.3315 Stop Loss, 1.3245 Take Profit