Tag - usd

In the environment of trade wars, tariffs and geopolitical tensions traders looked for the G7 summit to get clues on relationships between country-members and world economy, so they got.

On the daily chart of NZD/USD, bulls managed to pull the pair out of the downward channel.

On the daily chart of AUD/USD, bulls failed to return the pair to the long-term upward channel.

Have you missed changes that happened to the currency market last week? Do you want to get clues on future movements of the major currency pairs? Watch our Forex outlook on the past week’s trading and have a look at the main events of this week…

USD/BRL rose to the highest level since March 2016. The selloff of Brazilian real has been very intense during the last 3 months.

The US dollar index continues its downward movement. It tested levels below $93.30. The next support lies at $93.

On Thursday, the evergreen buck declined against most currencies of developed countries, including the common currency and the Japanese yen ahead of the G7 gathering at the level of heads of state and government in Canada…

Traders will look at the G7 summit that will take place on June 8-9 in Quebec to get clues on the world economic growth.

On the daily chart of USD/JPY, the “Shark” pattern is transforming into 5-0. After a correction to 50% of the wave CD, an advance above May high will open the way up to the pair.

Although Wednesday’s US economic data were positive, the greenback continues to lose positions.

The US dollar index is lower and lower. It is trading near $93.65.

Recommendation: BUY 1…