Financial Markets Online > Weekly Analysis > Weekly Analysis 26th August 2019

DXY

  • We saw some volatility on Friday following tariff announcements and sellers came in strongly.
  • A daily low has now been formed and price closed below the daily trendline.
  • Look for ways to sell dollar this week but keep in mind that these moves are knee jerk reactions to news. Whether it is a full-on change in sentiment remains to be seen so keep trade targets realistic.

GBPUSD

  • Buyers kept on pushing price higher, breaking the previous daily high.
  • Look for buy setup should price stay above 1.2210.
  • A move below this level will tilt the bias in favour of sellers.

 

USDCAD

  • The Loonie is starting to look very interesting.
  • Still in a Weekly Phase 2 and trapped between the Monthly R2 pivot and Yearly pivot, a break above and price could reach the long term trendline. Any sell trades should initially target the yearly pivot.
  • A clean break of the yearly pivot would open up to more selling.

 

Watchlist

  • The watchlist below is based on risk off sentiment to continue this week.
  • Looking to buy EURUSD, EURAUD.
  • Short on USDJPY & USDCHF.
  • Buying GBPCAD, GBPAUD, GBPNZD
  • Buy Gold.
  • Selling JPY Crosses.
  • Sell AUDCHF, NZDCHF, CADCHF

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