Weekly Technical Forecast: A Late Dollar Correction and 'Risk' Assets Rebound Presents Contrasting Trends
View our economic calendar to see the events that might influence each currency this week.
Have spent nearly the entire week forming a plateau, the Dollar closed this past Friday with its biggest daily drop in nearly a month. Has the high time frame reversal in favor of the Greenback hit the skids or is this just a pause?
GBPUSD continues to trade near its 14-month low but the short-term outlook may be slightly more positive for Sterling bulls.
In the week ahead, the euro may try and continue retracing some of the recent breakdown below 11500, but the path of least resistance favors more selling to follow.
The USDJPY pair has recently lacked significant technical conviction, but some may be building toward the downside.
This year so far, AUD/USD remains in a downtrend but a hammer and morning star warns prices may rise in the near-term next, perhaps testing the February descending trend line.
View our Third Quarter Forecast for currencies, commodities, and equities to give a broader view of trends and sentiment influencing different assets.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.