Forex technical analysis:
The USD emerged slightly higher, the outlook for a US-China trade deal was uncertain and investors were cautious for the time being. Investors have grown increasingly optimistic about the possibility of a deal in recent weeks, but investors have been fazed by tough talk of a trade war in recent days. Nevertheless, China’s Ministry of Commerce spokesman Gao Feng said at a regular press conference at the Ministry of Commerce on the 21st, The China-U. S. Economic and trade teams will go forward to maintain close communication. Details of the agreement negotiations are not available at this time, but outside rumors are not exact.
The Wall Street Journal on Thursday, quoting unnamed sources, reported that China had invited senior U.S. Trade negotiators in Beijing for a new round of face-to-face talks and that the two sides were still attempting to reach an agreement. Only U.S. President Donald Trump said Tuesday that the U.S. Will raise tariffs on Chinese imports if trade with Beijing ends the trade war. The effects of these messages are offset by the fact that they are unfit for the market.
The GBP/USD went up again to the $1.30 mark on Thursday as the dollar rebounded and the opposition Labor Party issued a campaign manifesto that has left some bulls cashing in on the pound.
Forex fundamental analysis:
The DXY correction on Thursday was supported above 97.70, with the rally at 98.05 and closing at 98.00, meaning the USD short-term correction is likely to stay on a rally. If the DXY pullback is supported above 97.80 today, the quarry of the post-market rally will point to 98.15-98.25. Today, DXY short-term resistance at 98.10-98.15, short-term important resistance 98.20-98.25. DXY short-term support at 97.80-97.85, short-term important support at 97.60-97.65.
EUR/USD rebounded below 1.1100 on Thursday, with the correction supported above 1.1050 and closing at 1.1059, meaning the EUR/USD short-term rally is likely to maintain the correction. If EUR/USD bounces below 1.1090 today, the quarry of the post-market correction will point to 1.1040-1.1025. Today EUR/USD short-term resistance at 1.1080-1.1085, short-term important resistance at 1.1110-1.1115. EUR/USD short-term support at 1.1040-1.1045, short-term important support at 1.1025-1.1030.
Forex Trading Strategy Recommendations:
EUR/USD: 1.1085 Sell, 1.1115 Stop Loss, 1.1025 Take Profit
GBP/USD: 1.2950 Sell, 1.2990 Stop Loss, 1.2850 Take Profit
USD/CHF: 0.9905 Buy, 0.9875 Stop Loss, 0.9965 Take Profit
USD/JPY: 108.40 Buy, 108.10 Stop Loss, 108.95 Take Profit
AUD/USD: 0.6805 Sell, 0.6830 Stop Loss, 0.6765 Take Profit
USD/CAD: 1.3315 Sell, 1.3355 Stop Loss, 1.3235 Take Profit