May 19 2021 0
USD continued to weaken in the last session and lost the important 90 mark. Please be aware of the possibility of further reduction in the near future.
Latest updates:
- The dollar sunk to a six-year low against the Canadian dollar and leaned closer to multi-month lows against European currencies on Tuesday as Treasury yields remained flat amid a slump New expectations appear that the Fed will not raise interest rates anytime soon.
- Dallas Fed President Robert Kaplan has reiterated that he does not expect rates to rise until next year, prompting further declines in earlier bets that inflationary pressures could force the Fed to act. earlier.
- European Central Bank policymaker Francois Villeroy de Galhau said on Tuesday that he did not think there was "any risk to inflation returning and sustaining in the long run" in euro area, and the ECB's monetary policy should remain "loose" to support the economy.
- European stocks neared record highs on Tuesday on optimism around some countries easing restrictions, falling unemployment in the UK and strong earnings reports from companies.
USD/JPY
The price has approached the 109 area, the area where we expect the bulls to return and push the price back to the uptrend. However, the trigger signal has not appeared, you should not rush back to buy at this time, wait patiently for more. There is no obvious higher high formation above, so if you are risk-averse, you can wait until the 109.7 zone is broken - a confirmation of the uptrend's continuation - before when considering buy orders.
EUR/USD
The price area of 1.217 has been broken, confirming the continuation of the current bullish structure, you continue to hold buy orders, move SL to reduce risk. We expect the price to move up to the 1.230 zone. However, selling pressure may appear around 1.225 causing pullbacks, in which case new buying may be considered when the price retests the old peak accompanied by a bullish signal.
GBP/USD
The price has broken through the 1.415 zone as expected, is facing resistance around the upper boundary of the rising channel, but the rejection is not strong, you may consider looking for an opportunity to add a long position besides the probe order. Pay attention to the area of 1.415, if there is a noticeable bullish signal, you can add a long position. Then, the target will be around the 1.430 zone.
USD/CAD
The price continued to decline in the first half of the last session and approached the psychological resistance of 1.20, then recovered strongly from this area and created a remarkable bullish pin bar on the daily frame. The 1.20 zone is also the lower border of the medium-long-term downtrend channel, so it is expected that the price will correct up from here, reversal traders can consider buying orders, the first target will be around level 1.22. You follow the trend of suspending trading at this time.
AUD/USD
The price is continuing to go up and is re-testing the 0.78 zone, you continue to hold long positions, might consider moving the SL, expecting the price to approach the target area of 0.79.
