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Alexander Kuptsikevich

Trump tosses dollar from highs, now move is up to ECB

The dollar remained under pressure after the Trump's criticism about the strengthening of the national currency. Despite doubts that the influence of the president's comments will be long, tactically they came out at an opportune moment, not allowing the growing index of the dollar to gain momentum after touching highs for the last year. At least for the short-term the scales turned to dollar bears, and sent DXY (Dollar Index) from the recent highs. In addition to the direct reaction of the ...

Wave Tech Analysis

FxPro Forex Analysis: EURNZD Wave Analysis – 20 July , 2018

• EURNZD reversed from resistance zone • Likely to fall further EURNZD recently reversed down from the resistance zone lying between the key resistance level 1.7300 (which has been reversing the price from May) and the upper daily Bollinger Band. The downward reversal from this resistance zone continues the active short-term ABC correction (ii) from the end of June. EURNZD is likely to fall further and re-test the next support level 1.7120 (low of the previous impulse wave i).

Wave Tech Analysis

FxPro Forex Analysis: Sugar Wave Analysis – 20 July , 2018

• Sugar reversed from support zone • Likely to rise further Sugar recently reversed up from the support zone lying between the key support level 0.1090 (which stopped the sharp downtrend in April) and the upper daily Bollinger Band. The upward reversal from this support zone completed the previous medium-term ABC correction (2) from the end of May. Given the oversold value of the daily Stochastic indicator - Sugar is likely to rise further and re-test the next resistance level 0.1154.

The FxPro Analyst Team

FxPro Forex Analysis: USD defense following Trump’s comments will probably be short-lived

The dollar index reached the one-year highs on Wednesday due to the demand for safe assets. USDX reached level 95.43 on Thursday, breaking the peak levels from November and May-June. However, Trump's comments have caused pressure on the American currency, throwing the dollar from the recently achieved highs. U.S. president in an interview CNBC noted that the yuan "was dropping like a rock", and the rising dollar and higher interest rates raise concerns about the potential impact on the ...

Wave Tech Analysis

FxPro Forex Analysis: EURGBP Wave Analysis – 19 July , 2018

• EURGBP broke key resistance level 0.8890 • Likely to rise further EURGBP recently broke above the key resistance level 0.8890 (which stopped the previous waves (i) and i in June and July, as can be seen below). The breakout of the resistance level 0.8890 accelerated the active minor impulse wave 3 – which belongs to the medium-term impulse wave (C) from May. EURGBP is likely to rise further and re-test the next resistance level 0.8970 (top of wave (B) and the target price for the completion ...

Wave Tech Analysis

FxPro Forex Analysis: Palladium Wave Analysis – 19 July , 2018

• Palladium broke round support level 900.00 • Likely to fall further Palladium continues to fall sharply after the earlier breakout of the key round support level 900.00 (which stopped the previous medium-term impulse wave (C) in April, as can be seen from the daily Palladium chart below). The breakout of the support level 900.00 accelerated the active medium-term ABC wave (2) from the middle of April. Palladium is likely to fall further and re-test the next support level 840.00 (former ...

Wave Tech Analysis

FxPro Forex Analysis: GBPUSD Wave Analysis – 18 July , 2018

• GBPUSD broke key support level 1.3070 • Likely to fall further GBPUSD recently broke through the key support level 1.3070 (which has been repeatedly reversing the price from last October, as can be seen from the daily GBPUSD chart below). The breakout of this the support level 1.3070 accelerated the active medium-term impulse wave (3) from the start of July. GBPUSD is likely to fall further and re-test the next resistance level 1.2900 (former support from August of 2017).

Wave Tech Analysis

FxPro Forex Analysis: Natural Gas Wave Analysis – 18 July , 2018

• Natural Gas broke support area • Likely to fall further Natural Gas recently broke through the support area lying between the key support level 2.770 (which also reversed the price in May) and the 61.8% Fibonacci correction of the previous upward impulse from March. The breakout of this support area accelerated the active medium-term ABC corrective wave 2 from the middle of June. Natural Gas is likely to fall further and re-test the next support level 2.700 (monthly low form May and the ...

The FxPro Analyst Team

FxPro Forex Analysis: The potential of USD growth is limited

Powell's speech with the semiannual report in the U.S. Congress contained an optimistic view on the economic outlook. Such a tone has reduced fears that trade wars will negatively affect economic valuations. The Fed's confidence that the years ahead of the low unemployment and sustained growth have increased the demand for risks at the stock markets. As a result, S&P500 has overcome the downturn of the previous two trading sessions and has updated the highs since February, rising by 0.6%. The ...