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/USD Weekly Chart (2000 trend-line, French choosing gap)
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)
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.
US Dollar Index (DXY) Daily Chart (reaching for 2019 highs)
For all a charts we looked at, check out a video above…
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