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U.S. Dollar Weakness Persists

Discussion in 'General Trading Forum' started by FX88, Aug 21, 2017.

  1. FX88


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    Bearish momentum appears to be decelerating for the USD/JPY pair with price action testing the 109.25 price level. However, weakness in the dollar still persists as highlighted by MACD which remains below the zero line and the 20 period moving average (EMA) continues its downward trajectory. RSI is flat just above the oversold zone. Volume appears to be rising into the move; the question is whether the rising interest will push prices higher or whether price action will continue down to the 108.93 price level.


    The U.S. Dollar appears to have fared better against the Swiss Franc with price action rising on positive sentiment to test the 0.965 resistance line. The pair has also broken the 20-period moving average. MACD appears to be turning more positive and RSI has stalled at the 50 support level. Volume has been declining which may suggest U.S. Dollar buyers are beginning to lose steam.


    Silver prices have been trading in range between the 16.61 price level and the 17.16 price level. However, the pair has broken the 20-period EMA to the downside which has been acting as support in recent trading sessions. Confirmation of bearish momentum will come from a break below the zero line on MACD as RSI has broken the 50 support level. Volume remains low however, indicating a slow start to the week for the metal.


    The Eurodollar has entered into a moderate near-term downtrend with lower highs. However, the U.S. Dollar still cannot gather any real bullish momentum against the Euro. A break of the 20-period EMA indicates that Euro buyers still dominate price action, with the 1.169 price level acting a strong support area, which tends to be followed by strong buying momentum. The momentum has worn off early in today’s trading session. A break of the zero line on MACD would confirm the bullish bias however RSI has stalled at the 50 support line. There is no clear direction for the pair.

    From: https://fx88.vn/en/article/view/daily-insights/2017-08-21/dollar-weakness-persists
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  3. lioneld


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    I really liked your attached chart; by the way may I know your trading view on EUR/USD and GBP/USD right now?
  4. Lee Mark

    Lee Mark

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    According to me, right now we are in a bullish trend on EURUSD trading pair, so don’t go for any sell position right now until breaking the daily support level.