Financial Markets Online > Weekly Analysis > Weekly Analysis 19th August 2019

DXY

  • Buyers made a break for it early last week following a period of consolidation.
  • Looking across the major charts, the move up is more to do with EUR weakness rather than dollar strength.
  • Expect a continuation to the upside with the EURUSD and possibly USDCHF charts as the best ways to buy dollar.
  • Should price break the August Swing High then look to target the Monthly R1 Pivot.

 

EURUSD

  • Price broke support and sellers finally took control.
  • Look for intraday sell setups this week, initially targeting the August swing low and then the Monthly S1 Pivot, should selling momentum continue.

 

USDCHF

  • Price stayed above the key level highlighted last week.
  • DXY went back into a Phase 1.
  • As a result, we saw price move up and close just below the Daily 20 EMA.
  • Look for intraday buy opportunities this week with the safest trade in the blue zone.

 

Watchlist

  • Selling opportunities across EURUSD, EURAUD, EURNZD, EURGBP, EURCAD.
  • Looking to buy USDCHF.
  • Long on GBPAUD, GBPNZD, GBPCHF.
  • Buying GBPJPY, CADJPY.
  • Buy CADCHF.
  • Selling AUDCAD, NZDCAD.
  • Buying AUDNZD.
  • Selling GOLD.

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