USD, AUD/USD, USD/JPY & More: Charts for Next Week
In today’s webinar we discussed the wild levels of volatility in markets, and how a lot of it has been “negative volatility”, the type that doesn’t offer any clear trends but rather sharp erratic reversals. The US Dollar Index took a sharp turn from heading straight down to straight up. It is unclear whether a trend higher can be sustained, but should have more to work with after another week of trading. AUD/USD fell to nearly the 2008 lows, but still has a bit to go before reaching 6000, a level that might help put in a low. USD/JPY hasn’t followed stocks down the drain, making for some confusing price action as it is now up on the week despite the S&P 500 down big. A bounce in stocks may help further buoy it, but given the way it has behaved that may not be the case. Caught between being a USD pair and risk on/off pair. Despite price action erratic, it is anticipated the picture will clear up soon.
For the full discussion check out the video above.
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---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.