The US dollar may find itself under additional pressure in the near term. What is the best way to trade on a weaker USD? Have a look at USD/JPY.
Daily Market Analysis
In this article, you'll find answers to major questions about the USD. Why is it rising? When will its dominance end?
Time to case-test a triangle chart formation with NZD/USD
AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
This currency pair is now between the two MAs at the key resistance level - will it break it?
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
The level of 23.6% Fibonacci retracement at 1.3795 is in the focus on the H4. The next level to watch on the downside is 1.3755.
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall Street.
The 200-period MA just above 1.3650 supported GBP/USD. The pair formed a higher low on the H1.
President Joe Biden is expected to sign a new “Buy American” order, underlining the essential continuity of US trade policy despite the radical change of tone expected from Donald Trump’s administration.
AUD/USD has formed a ‘harami’ on the D1 and a higher low on the H4. The pair will likely go up to test the resistance line that connects January highs.