Crude Oil May Rise on Renewed US-Iran Tensions Ahead of 2020 Election

Crude oil prices may get a tailwind from revived US-Iran tensions. The upcoming RNC and speeches by President Donald Trump on foreign policy may reinforce political premonitions and amplify this dy…
Source: News FX

Australian Dollar Forecast: Is AUD/USD in Danger as Risk Appetite Wanes?

The Australian Dollar has staged a remarkable recovery from its covid-crash lows and has extended beyond February levels in many pairs. Still, the Australian Dollar is not impervious to changes in …
Source: News FX

DAX 30, FTSE 100 & CAC 40 Forecasts for the Week Ahead

Risk appetite has wavered in the second half of the week, but losses are modest and volatility remains muted. If bearish breaks do occur, will they possess any follow-through?
Source: News FX

EUR/GBP Price Analysis: Euro subdued ahead of ECB Minutes

EUR/GBP has shown minimal price action of late but will the ECB provide the much needed catalyst in today's meeting?
Source: News FX

Fed Downplays Yield Curve Control, US Dollar Bounce, But For How Long?

Risk appetite has taken a slight hit with the US Dollar underpinned following the lack of policy hints in the FOMC minutes
Source: News FX

British Pound (GBP) Latest: GBP/USD Sell-Off a Dollar Driven Event, GBP/NZD Testing 200-DMA

The sharp sell-off in cable on late Wednesday was primarily driven by a reversal higher in the US dollar after the FOMC nudged back further forward guidance.
Source: News FX

USD Index Outlook: DXY Recovery May Fizzle Out Ahead of US Jobs Data

The US Dollar index ‘s (DXY) recent recovery may fizzle out as investors eye upcoming US jobless claims data.
Source: News FX

Gold Price Drop May Continue as Fed Stimulus Hopes Unravel

Gold prices slumped after minutes from July’s FOMC meeting signaled the Fed is no hurry to expand its stimulus toolkit. Deeper losses look likely ahead.
Source: News FX

USDCHF analysis for 20.08.2020

Trade Balance will be published in Switzerland soon and the US will release Philadelphia Fed Manufacturing Index and Unemployment Claims.
The support rests at 0.91330 with resistance at 0.91620 which both lines are above the weekly pivot point at 0.91240. The EMA of 10 is moving with bullish bias in the ascendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 0.92000.

usdchf
Source: fxglory

USDJPY analysis for 20.08.2020

There are no major economic reports in Japan but the US will release Unemployment Claims and Continuing Claims.

The support rests at 105.810 with resistance at 106.260 which both lines are below the weekly pivot point at 106.440. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on level 50, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
To complete the correction pattern buyers can target level 61.8 of Fibonacci at 106.300.

usdjpy
Source: fxglory