Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
USD: technical outlook

USD: technical outlook

Information is not investment advice

The confusion created by the Sino-American relations coupled with virus-related economic factors pushed the USD to rise against some currencies and lose against the others in today’s session. Let’s see a technical disposition in the most interesting cases so you can set your trades accordingly.

USD/ZAR and USD/MXN

The last four weeks saw the greenback’s decline against the South African rand and the Mexican peso with the Moving Averages changing their configuration in the middle of May. Currently testing local supports, the prices of these currency pairs are in consolidation that is likely to end soon as well as the balance of the MAs. The Awesome Oscillator identically suggests for both that the reversal is coming so watch for the upswing to emerge.

1.png

USD/TRY and USDBRL

Against the Turkish lira and the Brazilian real the USD also lost its value. Similar to the above cases, it is not expected that this situation will go for a long time. The fundamentals are still on the USD side. However, watch the support levels to make sure you enter only when the upward reversal is verified. Otherwise, if bears drag the USD down, you will have it confirmed by the breach of the support level.

2.png

USD/CHF

Against the Swiss franc, the USD is gaining well. It crossed the resistance of all Moving Averages and is not aiming at the resistance of the downtrend. The Awesome Oscillator suggests that there is still upward potential – very likely it will be exactly what is needed to come closer to the resistance of 0.9730. Over there, a reversal is possible, that’s why be careful with that level.

3.png

                                                                                                LOG IN

Similar

Popular

NFP Number Will Drive Markets

US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.

Choose your payment system

Learn more