News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/ECE5WvwjSc
  • Bitcoin price reached its highest level seen since Jan 2018, at US$ 13,722. #BTC https://t.co/ewYVfqP6A5
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/DJzSCov1ls
  • Wall Street Futures Update: Dow Jones (-0.62%) S&P 500 (-0.58%) Nasdaq 100 (-0.43%) [delayed] -BBG
  • #gold prices appear to bias towards the upside in the medium-term outlook as the Fed balance sheet hits a record high at US$ 7.17 trillion in October. https://t.co/VeWtshH2Do
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.63%, while traders in NZD/USD are at opposite extremes with 71.38%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/K1WCvXfvHP
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/LjEjTexrCg https://t.co/mScAj3cYuw
  • Bitcoin ($BTCUSD) is close to taking out the June 26, 2019 swing high to put us to highs not seen since January 2018. The next technical line in the sand is 13,880 https://t.co/5wLI95NvVp
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.21% 🇯🇵JPY: 0.13% 🇨🇦CAD: -0.03% 🇬🇧GBP: -0.06% 🇳🇿NZD: -0.08% 🇪🇺EUR: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HvNnGTl1K1
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: -0.58% Wall Street: -0.60% FTSE 100: -0.61% Germany 30: -1.34% France 40: -1.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Gkj2BzNMfm
US Dollar Price Outlook: Is the USD Rally Becoming Stretched?

US Dollar Price Outlook: Is the USD Rally Becoming Stretched?

2019-08-20 09:54:00
Nick Cawley, Strategist
Share:

US Dollar Price (DXY), Chart and Analysis:

  • US President Trump wants interest rate cuts and lots of them.
  • The strength of the USD continues to annoy the US President.

Q3 2019 USD Forecast andTop Trading Opportunities

Another 0.25% US interest cut is fully priced-in for the September FOMC meeting with markets also seeing a 16% chance of a 0.50% rate cut as the central bank gets set to loosen monetary policy further as recession fears grow. US President Donald Trump is looking for 100 basis points of rate cuts, according to his Twitter account, as he continues to state that the US dollar is too high and uncompetitive against the other majors.

Yet the greenback refuses to wilt and move lower with the daily US dollar chart dominated by an unbroken trend of higher lows from late-June onwards, sending the price back to challenge its recent 98.47 high, the highest level seen since mid-May 2017. The dollar is also above all three supportive moving averages. The CCI indictor shows the USD nearing overbought territory, although its recent rise is slowing down.

The dollar is picking up a bid from a weak Euro and Brexit-weakened British Pound, but its recent rally may be setting up the market for a ‘buy the rumor, sell the fact’ moment that could see the supportive uptrend, currently around 97.28, tested in the short-term.

Currency Volatility: Euro Potentially Under-Pricing Italian Risk

GBPUSD Price Outlook Fragile as Boris Johnson Heads to Europe

Ahead this week, the FOMC minutes on Wednesday will be closely parsed for any signs that the Fed are considering further easing, while Fed chair Powell’s speech at the Jackson Hole Symposium on Friday may well add further color on the central bank’s stance.

Keep up to date with all key economic data and event releases via the DailyFX Economic Calendar

US Dollar Price Outlook: EUR/USD, GBP/USD, AUD/USD and USD/CAD.

US Dollar (DXY) Daily Chart (November 2018 – August 20, 2019)

US Dollar Price Outlook: Is the USD Rally Becoming Stretched?

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on USD – bullish or bearish? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES