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Australian Dollar Forecast - AUD/USD Cleared to Descend to 2016 Lows as Key Support Gives Way
Key support levels that kept AUD/USD afloat gave way, opening the door for Australian Dollar prices reach 2016 lows. Near-term support at 0.7088 while resistance a descending range.
Euro Forecast - Euro May Fall to 1.13 vs US Dollar if Chart Top Pattern Confirmed
The Euro may be ready to resume the downtrend against the US Dollar having exhausted a corrective upswing from mid-August lows near the 1.13 figure.
US Dollar Forecast - Dollar Best Hope to Stave Off Head-and-Shoulders Breakdown is a Euro Drop
Volatility factored in for the Dollar this past week, but a break and trend continues to elude the currency. Keep as close an eye on activity levels and participation as you do on the key levels like 1.1500 and 1.1700 from EURUSD.
Equity Forecast - DAX at Critical Support, CAC 40 Hold Summer Lows For Now
DAX outlook weak after breach of July low, eyes on rising trendline from 2016 low to offer a mild reprieve, while the CAC 40 finds support from the summer lows for now.
Japanese Yen Forecast - USD/JPY Dollar Bulls Poised to Take Over
The dollar-yen ended the week at the same level as last week but rests on a trend line originating in March. If the pair trades above the line early next week, expect bulls to take over.
British Pound Forecast: GBPUSD Continuing to Press Higher
The battle between Brexit and US monetary policy continues to play out in GBPUSD but a series of three higher lows may see prices edge higher in the short-term.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
