Find out the key levels for trading the GBP and the NZD ahead of the important releases.
Tag - usd
If we look at the daily charts of the US dollar index and the USD/JPY pair, we will see a misleading trend.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
After the bullish end of the year, the yellow metal has stuck in the range bound market. Let’s find out the fundamental reasons behind it and determine the key levels on the chart.
Let’s take a look at the economic calendar and the most important events that will shake markets next week.
The trade talks between the US and China are still the main topics for the market. That is why it is recommended to trade USD/JPY and Gold on the market sentiment.
USD/JPY made a sizeable move up last week. It retraced more than 50% of the December-January decline.
The wave of ups and downs in the Forex market did not bypass the exotic currencies in 2018. Let’s look at how analysts predict the performance of those ones, which suffered the most during 2018 - the Brazilian real and Turkish lira.
USD/TRY has moved sharply down this week falling to the support line since the end of November.
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The news on the Brexit progress and the updates on the trade negotiations between the US and China will affect the market today. Watch out to trade GBP/USD and AUD/USD.