News & Analysis
Eightcap Forex technical insights; USD data this week – Technical levels and patterns to watch
So with China back at the negotiation table risk found buyer interest to end weaker starts to the week for the majors to the USD and Japanese Yen. The EUR, AUD and GBP made strong moves lower most hitting new lows for 2018. Trends remain down, current price action is seen as counter for now with resistance levels starting to come into play. Traders will be refocused on trade developments between China and U.S. any negative turns could see trend momentum continue lower. Or positive developments may continue the reversals. There’s key USD news coming up later in the week.
Events and Data to keep on eye on later this week; Thursday – FOMC Meeting Minutes. Friday – Core Durable Goods Orders and Saturday morning Fed Chair Powell Speaks at the Federal Reserve Bank of Kansas City Economic Policy Symposium, in Jackson Hole.
Good trading from Eightcap
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