Category Archives: Forex Trading Strategy

USD swings slightly, waiting for change

Forex technical analysis:

Positive news about you. S. -China trade relations have weighed on USD’s safe-haven buying, while a slowdown in trading on Thanksgiving has added to the pressure on USD to pull backwards. In gain, the weak performance of U.S. Economic data released on the day dragged Down DXY pressure.

On the morning of November 26, Liu He, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, Vice Premier of the State Council and China’s leading Chinese negotiator for the China-U.S. Comprehensive Economic Dialogue, spoke with U.S. Trade Representative Leishize and Finance Minister Mnuchin, according to the press office of China’s Ministry of Commerce. The two sides discussed resolving each other’s core concerns, reached consensus on resolving relevant issues, and agreed to keep communication on the remaining issues of the first phase of negotiations. The Global Times said on Monday that the two nations were very close to reaching the first phase of the agreement. U.S. President Donald Trump also said Tuesday that the U.S. And China is close to gaining an agreement on the first phase of a trade deal.

Data released Tuesday indicated that the U. S. The merchandise trade deficit fell sharply in October, with both imports and exports falling, suggesting that trade flows continue to decline, blamed on the Trump administration’s “America First” policy. U.S. Consumer confidence fell for a fourth straight month in November amid worries about job conditions and job prospects, but remained at a level large enough to support steady growth in consumer spending.

The GBP/USD is falling modestly in the coming days as a poll shows the Conservatives’ lead is narrowing ahead of next month’s general election. Expectations that a Tory victory will end more than three years of Brexit turmoil have boosted the GBP in the recent term, despite concerns about a no-deal Brexit.

Forex fundamental analysis:

DXY’s rally on Tuesday was held in 98.40, with a correction above 98.20 and closing at 98.24, meaning the USD is likely to persist in the correction after a short rally. If DXY bounces below 98.35 today, the quarry of the post-market correction will point to 98.20-98.10. Today, DXY short-term resistance at 98.30-98.35, short-term important resistance 98.40-98.45. DXY short-term support at 98.15-98.20, short-term important support at 98.10-98.15.

EUR/USD fell above 1.1005 on Tuesday, rebounding below 1.1025 and closing at 1.1022, meaning the EUR/USD short-term correction is likely to stay on a rally. If the EUR/USD correction is supported above 1.1010 today, the quarry of the post-market rally will point to 1.1030-1.1040. Today EUR/USD short-term resistance at 1.1025-1.1030, short-term important resistance at 1.1035-1.1040. EUR/USD short-term support at 1.1010-1.1015, short-term important support at 1.1000-1.1005.

Forex Trading Strategy Recommendations:

DXY: 98.35 Sell, 98.50 Stop Loss, 98.15 Take Profit

EUR/USD: 1.1010 Buy, 1.0990 Stop Loss, 1.1040 Take Profit

GBP/USD: 1.2835 Buy, 1.2800 Stop Loss, 1.2905 Take Profit

USD/CHF: 0.9985 Sell, 1.0005 Stop Loss, 0.9950 Take Profit

USD/JPY: 108.85 Buy, 108.65 Stop Loss, 109.35 Take Profit

AUD/USD: 0.6770 Buy, 0.6750 Stop Loss, 0.6810 Take Profit

USD/CAD: 1.3255 Buy, 1.3235 Stop Loss, 1.3335 Take Profit

Risk sentiment heats up in markets, USD rises slightly

Forex technical analysis:

The dollar index as a whole has held steady as market risk sentiment has grown, with positive news of the US-China trade dispute encouraging the market and dollar buying being held back, but the yen’s safe-haven value has also been hit. Meanwhile, the pound’s rise continued as weekend polls showed the Conservatives continuing to pass by a wide margin.

Robert O’Brien, the U.S. A national security adviser, said the possibility of a swap deal between the Us and China by the end of the year remained the focus of the market. The Global Times also stated it was very close to a “first phase” agreement, which undermined the impact of “negative” coverage in other parts of the media. China’s General Office of the State Council recently put out “on strengthening intellectual property protection advice, ” said that will significantly increase the amount of legal compensation for infringement of intellectual property rights, increase the strength of damages, the news also boosted market sentiment.

Nevertheless, the position situation suggests that investors remain cautious about the future. If the trade situation deteriorates, USD’s resilience to risk will continue to attract many buys. Speculators’ net long positions in the USD rose to a five-week high in the week of November 19, according to the Commodity Futures Trading Commission. In summation, the GBP climbed from recent lows as polls continue to show the ruling ConservativeS with the best chance of winning the December 12 general election. The party has assured to bring LinkedIn Brexit, ending three and a half years of political uncertainty.

Forex fundamental analysis:

The DXY’s Monday correction was supported by a 98.15 rally above 98.40 and closed at 98.32, meaning the USD short-term correction is likely to stay up. If the DXY correction is supported above 98.20 today, the target for the post-market rally will be 98.40-98.50. Today, DXY short-term resistance at 98.35-98.40, short-term important resistance 98.45-98.50. DXY short-term support at 98.20-98.25, short-term important support at 98.05-98.10.

EUR/USD rebounded below 1.1035 on Monday, falling above 1.1000 and closing at 1.1009, meaning the EUR/USD short-term rally is likely to stay down. If EUR/USD rebounds today at 1.1030, the target for the market will fall will point to 1.0995-1.0985. Today EUR/USD short-term resistance at 1.1025-1.1030, short-term important resistance at 1.1040-1.1045. EUR/USD short-term support at 1.0995-1.1000, short-term important support at 1.0985-1.0990.

Forex Trading Strategy Recommendations:
EUR USD Forex trading strategy 11-26-2019

EUR/USD: 1.1025 Sell, 1.1045 Stop Loss, 1.0985 Take Profit

GBP/USD: 1.2860 Buy, 1.2900 Stop Loss, 1.2955 Take Profit

USD/CHF: 0.9960 Buy, 0.9940 Stop Loss, 1.0000 Take Profit

USD/JPY: 108.70 Buy, 108.40 Stop Loss, 109.25 Take Profit

AUD/USD: 0.6760 Buy, 0.6740 Stop Loss, 0.6815 Take Profit

USD/CAD: 1.3290 Buy, 1.3260 Stop Loss, 1.3340 Take Profit

The USD continues to grow sharply, whether the short-term can breakthrough remains to be tested

Forex technical analysis:

The dollar index moved up steadily as the latest U.S. Markit purchasing managers’ index performed strongly, further evidence that the recent weakness in the U.S. The dream may be over in a depressed economy. The University of Michigan’s consumer confidence indicator, then climbed strongly to 96.8, indicating a surge in consumer confidence.

U.S. President Donald Trump signed a four-week spending bill that delayed a possible government shutdown until December 20, giving lawmakers more time to ferment out a full-year funding package for the fiscal year that began last month. Later on the news, DXY received a boost, extending earlier in the day’s rally. In improver, the relatively positive comments made by Minneapolis Fed President John Cashcane and Cleveland Fed President John Meister on economic growth and inflation also spurred USD buying, with DXY stabilizing above the 98 mark.

In addition, U.S. rare coins are very portable. President Donald Trump told Fox News that the two positions are “very close” to a trade agreement, noting that “we have a good chance of reaching an agreement.” In early October, the two countries agreed to work together on a so-called “first phase” trade deal, but were divided over whether the elimination of existing tariffs should be part of the agreement. Nevertheless, the recent resurgence of optimism is expected to help the market risk sentiment stabilize, thereby helping risk-related currencies such as AUD to rebound.

Forex fundamental analysis:

The DXY’s correction on Friday was supported by a correction above 97.80, rising below 98.35 and closing at 98.28, meaning the USD short-term correction is likely to stay up. If the DXY correction is supported above 97.95 today, the target for the post-market rally will be 98.50-98.65. Today, DXY short-term resistance at 98.45-98.50, short-term important resistance 98.60-98.65. DXY short-term support at 98.10-98.15, short-term important support at 97.95-98.00.

EUR/USD rebounded below 1.1090 on Friday, falling above 1.1015 and closing at 1.1020, meaning the EUR/USD short-term rally is likely to stay down. If EUR/USD rebounds today at 1.1065, the target for the market will fall at 1.0995-1.0970. Today EUR/USD short-term resistance at 1.1040-1.1045, short-term important resistance at 1.1060-1.1065. EUR/USD short-term support at 1.0995-1.1000, short-term important support at 1.0970-1.0975.

Forex Trading Strategy Recommendations:

EUR/USD: 1.1065 Sell, 1.1105 Stop Loss, 1.0995 Take Profit

GBP/USD: 1.2895 Sell, 1.2935 Stop Loss, 1.2795 Take Profit

USD/CHF: 0.9940 Buy, 0.9905 Stop Loss, 1.0000 Take Profit

USD/JPY: 108.40 Buy, 108.10 Stop Loss, 108.90 Take Profit

AUD/USD: 0.6765 Buy, 0.6740 Stop Loss, 0.6815 Take Profit

USD/CAD: 1.3315 Sell, 1.3355 Stop Loss, 1.3235 Take Profit