Increased worries about the no-deal Brexit pulled the pound down.
Tag - market forecast
In the recent days, the US dollar index reached the highs of July 2017.
Today we will have a look at the currency of the third-largest Southeast Asian economy – Malaysian ringgit.
The strong rise of the USD caused by the tight monetary policy of the Fed made emerging market currencies depreciate.
Usually, traders pay attention to major currencies such as USD, EUR, GBP and etc. But what about exotic currencies?
The US dollar index has managed to recover after a significant fall.
On the daily chart of USD/CHF, bulls failed to pull the pair out of the upper boundary of the 0.9855-0.9995 consolidation.
On the daily chart of EUR/JPY, after the pair reached the 78.6% target of the “Gartley” pattern, it rebounded down.
On the daily chart of GBP/USD, the pair keeps reaching targets of the “Wolfe waves” pattern.
It’s a forecast for July 25.
On the daily chart of USD/CAD, bears try to counterattack and implement the “Bat” pattern.
On the daily chart of XAU/USD, the pair reached the 88.6% target of the “Shark” pattern.