Japanese Yen May Fall Post Abe Resignation, AUD/USD Eyeing RBA

The Japanese Yen could be at risk to further losses. Despite broad weakness in stocks on Monday, the haven-linked US Dollar fell. Ahead, AUD/USD is eyeing the RBA rate decision.
Source: News FX

Dow Jones Forecast: Index Slips Ahead of Historically Bearish Month

The Dow Jones suffered a slight loss to start the week as volatility ticked higher and a seasonal lack of volatility is exchanged for a historically bearish month.
Source: News FX

USD/MXN Forecast: Dollar-Peso Probes Key Level as Oil Swings

USD/MXN is gravitating around its 200-day moving average. The Mexican Peso is threatening a breakout as commodity currencies tied to crude oil prices strengthen against the anti-risk US Dollar.
Source: News FX

DailyFX Education Summit: Trade Your Market

The DailyFX Education Summit will be held online from September 15 to September 17. Register now!
Source: News FX

Canadian Dollar Forecast: USD/CAD Slips to 7-Month Low

USD/CAD fell to a 7-month low on Monday as renewed US Dollar weakness paved the way for Canadian Dollar gains. With a fresh low, will USD/CAD continue its downward trajectory?
Source: News FX

EUR/USD Rate Ripping to Two-Year Highs Leaves Euro at Resistance

EUR/USD price action is spiking into month-end and trading at its strongest level since May 2018, but Euro bears seem to be reacting to key technical resistance level as the US Dollar hits two-year…
Source: News FX

US Dollar Price Outlook: USD Pushes Towards Big Zone of Key Support

The US Dollar is pushing towards two-year-lows, but a potentially problematic area on the chart lies ahead for bears.
Source: News FX

USDCAD analysis for 31.08.2020

Industrial Product Price Index, Raw Materials Price Index and Building Permits will be published in Canada.
The pair is finding support at 1.30450 with resistance at 1.31410 which the weekly pivot point at 1.31280 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is showing downward momentum. The ADX is showing sell signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
Short positions are recommended towards 1.30150.

Source: fxglory

GBPUSD analysis for 31.08.2020

There are no major economic reports in the US and the UK today so GBPUSD will be under the influence of macroeconomic reports.
The support rests at 1.33040 with resistance at 1.33940 which both lines are above the weekly pivot point at 1.32540. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing weak buy signal.
The support level breakthrough will confirm the bearish trend towards 1.32000 but long term traders can expect the price growth.

Source: fxglory

Euro Price Outlook: EUR/USD, EUR/CHF May Slide as Covid-19 Cases Climb

The EUR/USD and EUR/CHF exchange rates may slide lower as cases of the novel coronavirus continue to climb in several European nations.
Source: News FX