EUR/USD, USD/JPY & DXY: USD Charts for Next Week

Charts for Next Week:

  • EUR/USD using reduce into large long-term support
  • USD/JPY stranded unresolved around 2015 trend-line
  • US Dollar Index (DXY) streamer towards 2019 high

EUR/USD has been removing crushed, with it posting some of a cleanest movement in some time. The downdraft is so most absolute as persistent. FX sensitivity stays really low, so a pierce reduce has been comparatively orderly.

With that said, things could get flighty shortly with some large long-term levels entrance up. The French choosing opening from 2017 is being tested, with a full fill impending during 10724. There also lies in a vicinity, depending on how we pull it and either we use a record scale or not, a trend-line using adult from 2000. We have to give some embodiment given a duration, though it is unresolved out in a vicinity. A large greeting could come soon.

EUR Forecast
EUR Forecast

EUR/USD Weekly Chart (2000 trend-line, French choosing gap)

EUR/USD weekly chart

EUR/USD Chart by TradingView

USD/JPY has been stranded in a parsimonious operation for over a week, highlighting a historically low levels of FX sensitivity we are saying these days. There is a plain trend-line from 2015 assisting keep a lid on a serve allege off a finish of Jan low. A mangle above 11029 is indispensable to shake it lax on a upside., differently another spin down could be entrance and serve clog a already undiluted cost action.

USD/JPY Daily Chart (congested around 2015 trend-line)

USD/JPY daily chart

USD/JPY Chart by TradingView

US Dollar Index (DXY) continues to arise on a heavily weighted Euro’s decline. The pierce is a bit extended, and we might see a bit of subsidy and stuffing as a Euro approaches a large level, though altogether a expectancy is for a 2019 high during 99.67 to be met or exceeded soon.

USD Forecast
USD Forecast

US Dollar Index (DXY) Daily Chart (reaching for 2019 highs)

US Dollar Index (DXY) daily chart

U.S. Dollar Currency Index (DXY) Chart by TradingView

For all a charts we looked at, check out a video above…

Resources for Index Commodity Traders

Whether we are a new or an gifted trader, DailyFX has several resources accessible to assistance you; indicator for tracking trader sentiment, quarterly trading forecasts, methodical and educational webinars hold daily, and trading guides to assistance we urge trade performance.

We also have a array of guides for those looking to trade specific markets, such as a SP 500, Dow, DAX, gold, silver, crude oil, and copper.

—Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter during @PaulRobinsonFX