US dollar likely to take a breather ahead of further gains

Daily Forex Market Preview, 31/08/2016
The US dollar saw renewed buying momentum yesterday as the yen fell sharply, sending USDJPY higher on the day while EURUSD posted strong declines. Ahead of Friday’s payrolls report and tomorrow’s ISM manufacturing data, the US dollar index could remain tra...
US dollar likely to take a breather ahead of further gains
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Usman
Forex News

Intraday technicals point to a short-term correction

Orbex Daily Forex Market Preview, 30/08/2016
July’s PCE and consumer spending data came out mostly in line with estimates which managed to keep the dollar supported from Friday’s Jackson Hole rally. However, the technicals on the intraday charts point to a near term correction in prices, which co...
Intraday technicals point to a short-term correction
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Usman
Forex News

US dollar likely to ease back from Friday’s gains

Daily Forex Market Preview, 29/08/2016
The US dollar posted strong gains on Friday in what was mostly a volatile and a mixed reaction. By Friday’s close, the US dollar managed to close bullish, but that strong momentum is likely to fade in the near term. Today’s main event risk is the monthly PCE...
US dollar likely to ease back from Friday’s gains
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Usman
Forex News

US dollar looks bullish. Gold prices could test 1300 on Yellen’s speech

Daily Forex Market Preview, 26/08/2016
The technical outlook for the US dollar, hints to a near-term bullish strength, validated by the bearish outlook in gold, GBPUSD, and EURUSD. While USDJPY has been trading flat, we could expect the price to test 102 and 104 in the near term. Today’s...
US dollar looks bullish. Gold prices could test 1300 on Yellen’s speech
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Usman
Forex News

USDJPY's flat price action warns of a strong breakout in the making

Daily Forex Market Preview, 25/08/2016
USDJPY has been caught within the inside bar range for nearly 6 straight days and is indicative of a strong breakout in the making. With traders preparing for Friday’s speech by Janet Yellen, it could very well be the catalyst needed for USDJPY....
USDJPY's flat price action warns of a strong breakout in the making
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Usman
Forex News

Euro fails to keep gains, 1.120 support could be tested

Daily Forex Market Preview, 24/08/2016
The US dollar was seen making attempts to recover some of its losses like yesterday’s new home sales data posted a solid month of growth. However, a strong recovery is questionable ahead of the other important events coming up later in the week. More i...
Euro fails to keep gains, 1.120 support could be tested
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Usman
Forex News

US dollar fails to keep gains, EURUSD recovers

Daily Forex Market Preview, 23/08/2016
Despite a strong opening yesterday, the US dollar failed to keep the momentum going, giving back some of the gains from earlier in the day. Lack of economic data yesterday also kept the markets flat for the most part. The subdued price action is likely to...
US dollar fails to keep gains, EURUSD recovers
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Usman
Forex News

Dollar posts modest gains in Asia, ahead of a slow trading day

Daily Forex Market Preview, 22/08/2016
The US dollar index was seen trading stronger earlier this morning in the Asian session boosted by hawkish comments from Fed members last week and vice-president Fischer on Sunday. The day ahead is quiet with no major releases on the tap with prices likely...
Dollar posts modest gains in Asia, ahead of a slow trading day
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Usman
Forex News

Dollar turns weaker as investors eye FOMC minutes

Daily Forex Market Preview, 17/08/2016
The ICE Futures US dollar index fell over 0.87% yesterday with the declines gaining traction following weak consumer inflation report. EURUSD surged to test 1.130 while USDJPY fell to 100.00 but prices were rejected towards the end of the day. The markets...
Dollar turns weaker as investors eye FOMC minutes
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Usman
Forex News

EURUSD stays in range ahead of US inflation and housing data

Daily Forex Market Preview, 16/08/2016
EURUSD remained to trade in a range with prices seen re-testing 1.120 handle earlier today. Today’s US consumer inflation report and US building permits and housing starts will be the key events that could shape the near-term bias. Gold prices were...
EURUSD stays in range ahead of US inflation and housing data
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Usman
Forex News

US dollar seen posting gains, but remains questionable

Daily Forex Market Preview, 12/08/2016
The US dollar index managed to close bullish yesterday, forming an inside bar in the process. A break out from this level could signal further gains or declines, with the bias staying neutral for the moment. Gold prices were seen retesting the $1350 handle,...
US dollar seen posting gains, but remains questionable
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Usman
Forex News

US dollar turns weak, but this could be the pullback

Daily Forex Market Preview, 10/08/2016
The US dollar turned weaker for the second day after just last week price posted a strong rally led by Friday’s payrolls report. Earlier this week, we noted that the dollar could be posting a pullback and the current declines could be just that, but...
US dollar turns weak, but this could be the pullback
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Usman
Forex News

Dollar keeps gains but markets seen flat

Daily Forex Market Preview, 09/08/2016
The US dollar managed to maintain its gains from Friday, but price action on Monday was limited with a lack of any major scheduled events. Still, the bias remains in favor of the US dollar, although there is potential for prices to post a minor correction....
Dollar keeps gains but markets seen flat
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Usman
Forex News

US dollar gains on Friday’s payrolls. Watch for a pullback to the rally

Daily Forex Market Preview, 08/08/2016
The US dollar is likely to extend its gains after Friday’s payrolls report. The economic data remains light today with no major releases in sight. Expect to see a minor pullback in the US dollar before the rally from last Friday resumes. USDJPY is likely to ...
US dollar gains on Friday’s payrolls. Watch for a pullback to the rally
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Usman
Forex News

Markets await NFP. Gold prices risk a correction

Daily Forex Market Preview, 05/08/2016
July’s nonfarm payrolls report will be the main calendar event to watch for today. A positive beat on expectations will most likely induce dollar buying putting the recent rally in USD crosses at the risk of a correction. Gold prices recovered their losses f...
Markets await NFP. Gold prices risk a correction
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Usman
Forex News

Big day for the British pound

Daily Forex Market Preview, 04/08/2016
The Bank of England’s monetary policy meeting today will be the big event as the markets brace for a rate cut. What will determine the price action in GBPUSD will be how much the BoE can loosen monetary policy, which if disappoints could see a strong short s...
Big day for the British pound
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Usman
Forex News

EURUSD at 1.120 resistance, awaits NFP

Daily Forex Market Preview, 03/08/2016
The euro picked up steam yesterday after the dollar weakened following the unimpressive fiscal stimulus package from Shinzo Abe and the lackluster inflation data in the US. With the rally to 1.120 now complete, EURUSD is likely to sit back and await this...
EURUSD at 1.120 resistance, awaits NFP
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Usman
Forex News

EURUSD maintains sideways pattern

Daily Forex Market Preview, 02/08/2016
The euro continues to trade flat against the dollar with 4-hour sessions shows prices forming multiple inside bars. Japan is expected to announce plans for its proposed fiscal stimulus spending, which could cause a knee-jerk reaction in the markets. For the...
EURUSD maintains sideways pattern
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Usman
Forex News

Major currencies at key support/resistance levels

Daily Forex Market Preview, 01/08/2016
The US dollar fell sharply on Friday after the Q2 GDP data showed that the US economy grew only 1.20%, much less than the forecast of 2.60%. With the markets not convinced about a Fed rate hike in September, the USD crosses jumped including gold, which rose...
Major currencies at key support/resistance levels
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Usman
Forex News