USD small rebound can not re-position

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

USD rebounds slightly

Forex technical analysis:

Fed officials generally agree that they may not need to reduce rates again unless the economy changes significantly. In late October, the central bank cut its benchmark overnight lending rate by 0.25 percentage points to a range of 1.5% to 1.75%, the third rate cut in 2019.

Yet, the minutes said the “majority” of FOMC members believed the measures were sufficient to “support moderate growth, a strong labor market, and a near-symmetric 2% inflation outlook” and that policy position “may remain unchanged as long as the latest information on the economy does not lead to a substantial reassessment of the economic outlook.”

Still, they insisted that even if the policy was likely to remain unchanged and would not follow the pre-set course, the commissioners would continue to assess the changes in data and overall outlook. Members often note that the delayed effects of the Fed’s policy changes may require a year or more to feel, so they plan to watch how a shift in looser policies will affect financial conditions. The rate cut began in July, just seven months afterward the committee approved its fourth rate hike in 2018.

Forex fundamental analysis:

The DXY’s Wednesday correction was supported above 97.80, rebounding below 98.05 and closing at 97.94, meaning the USD short-term correction is likely to stay at a rally. If the DXY pullback is supported above 97.80 today, the quarry of the post-market rally will point to 98.05-98.15. Today, DXY short-term resistance at 98.00-98.05, short-term important resistance 98.10-98.15. DXY short-term support at 97.80-97.85, short-term important support at 97.70-97.75.

EUR/USD rebounded below 1.1085 on Wednesday, with a correction above 1.1050 and closing at 1.1070, meaning the EUR/USD short-term rally is likely to maintain the correction. If EUR/USD bounces below 1.1085 today, the quarry of the post-market correction will point to 1.1055-1.1040. Today EUR/USD short-term resistance at 1.1080-1.1085, short-term important resistance at 1.1095-1.1100. EUR/USD short-term support at 1.1055-1.1060, short-term important support at 1.1040-1.1045.

Forex Trading Strategy Recommendations:

EUR USD Forex trading strategy 11-21-2019

EUR/USD: 1.1085 Sell, 1.1105 Stop Loss, 1.1040 Take Profit

GBP/USD: 1.2940 Sell, 1.2970 Stop Loss, 1.2870 Take Profit

USD/CHF: 0.9895 Buy, 0.9875 Stop Loss, 0.9955 Take Profit

USD/JPY: 108.80 Sell, 109.05 Stop Loss, 108.20 Take Profit

AUD/USD: 0.6825 Sell, 0.6850 Stop Loss, 0.6765 Take Profit

USD/CAD: 1.3275 Buy, 1.3245 Stop Loss, 1.3345 Take Profit

Forex trading strategy 11/20/2019

Forex technical analysis:

On Tuesday, the DXY hovered near flat levels, attempting to find directions. The Commerce Department’s latest construction permit data hit its highest point since the 2007 financial crisis, and the Fed’s Number 3 was relatively upbeat, but DXY remained in the doldrums. Williams stated the economy is in good shape and is very close to meeting its inflation target. Spot GOLD has rallied about $9 from its lows to above the 1,470USD/Oz mark amid the USD slump. For today, markets are waiting for the minutes of the Fed’s meeting to be released Wednesday local time to get a better picture of what is going on within Fed officials.

Forex fundamental analysis:

The DXY’s rally on Tuesday was supported by 97.70, rebounding below 97.90 and closing at 97.85, meaning the USD short-term correction is likely to stay on a rally. If the DXY pullback is supported above 97.75 today, the quarry of the post-market rebound will point to 97.90-98.00. Today, DXY short-term resistance at 97.90-97.95, short-term important resistance 97.95-98.00. DXY short-term support at 97.75-97.80, short-term important support at 97.65-97.70.

EUR/USD rebounded below 1.1085 on Tuesday, with a correction above 1.1060 and closing at 1.1078, 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 1.1065-1.1050. Today EUR/USD short-term resistance at 1.1085-1.1090, short-term important resistance at 1.1095-1.1100. EUR/USD short-term support at 1.1065-1.1070, short-term important support at 1.1050-1.1055.

Forex Trading Strategy Recommendations:

EUR/USD: 1.1090 Sell, 1.1110 Stop Loss, 1.1050 Take Profit

GBP/USD: 1.2950 Sell, 1.2990 Stop Loss, 1.2870 Take Profit

USD/CHF: 0.9890 Buy, 0.9865 Stop Loss, 0.9940 Take Profit

USD/JPY: 108.80 Sell, 109.05 Stop Loss, 108.20 Take Profit

AUD/USD: 0.6800 Buy, 0.6780 Stop Loss, 0.6850 Take Profit

USD/CAD: 1.3235 Buy, 1.3200 Stop Loss, 1.3335 Take Profit