Check out this week's pairs in focus- Forex Forecast
has fallen rather hard during the course of the week, slicing through the 0.66 level. That being said, it looks like the market is going to continue to be a “fade the rally” on short-term charts, as we will eventually try to work our way down to the 0.64 level. At this point, if we were to break back above the 0.66 level, it would be a very major victory for the Australian dollar as it looks like markets are starting to run toward safety and of course the United States in general.
The Bank of Japan and its monetary policy will continue to put downward pressure on the value of the Japanese yen.has fallen hard against the greenback during the trading week as we are now testing the 50-Week EMA. That being said, this is an indicator that does $10 for a little bit of support so we will have to see whether or not we rally.
If they do, then this could be a nice buying opportunity, but if we break down below the 50-Week EMA, then I believe that the euro will go looking toward the 1.05 level underneath, which was a major swing low as of late.has broken down significantly during the week, as it is plunging toward the 0.60 level. At this point, if we break down below the 0.60 level, then that could open up a floodgate of selling, so I will be paying close attention to that area.
As far as shorting is concerned, I’m not quite ready to do so yet, but it is starting to look like the $2100 level is still a bridge too far as we have seen multiple times over the years.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall St Week Ahead Debt ceiling deal may shift investor focus to further Fed actionA last-minute deal to raise the U.S. $31.4 trillion debt ceiling will likely shift Wall Street's attention to other emerging risks, including further Federal Reserve interest rate hikes and an expected reduction in fiscal spending.
Read more »
2023 Lexus RX500h F Sport Performance First Test: More Focus on the Big PictureThere's more performance and even some fun, sure, but this Lexus focuses on what matters most.
Read more »
Apple to shut down My Photo Stream and focus solely on iCloudThrough a support page, Apple has announced that the My Photo Stream application will finally shut down in favor of iCloud Photos.
Read more »
Superiority Burger Keeps a Tight FocusBrooks Headley’s East Village restaurant, relocated to a relatively sprawling space, builds on his original vegetarian menu with powerful, creative additions.
Read more »
Amid lifeguard shortage, renewed focus on pool safety for children as summer arrivesThe American Lifeguard Association said that half of the nation's 309,000 public pools could be forced to close or reduce their hours due to a lifeguard shortage.
Read more »