US dollar: forecast for July 24-28

It was another disastrous week for the American currency. The US dollar index (DXY) fell to 94.00.

It happened as the market thought that the European Central Bank is planning to reduce monetary stimulus, while low inflation may prevent the Federal Reserve from another rate hike this year. In addition, US President Donald Trump didn’t manage to get enough support for his healthcare bills in the Senate. Traders fear that Trump will have similar difficulties with in passing his stimulus and tax reforms. Moreover, there are news that the US special counsel is expanding investigation of Donald Trump. 



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Trading plan for February 18

The market will be mostly driven by the risk-on sentiment after the positive news on trade negotiations between the US and China. Let’s consider the key levels for AUD/USD and AUD/NZD.

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