Dollar Recovery Hopes Alive Again

Jahan Ara FXQ MARKET RESEARCH

Despite lack of supportive fundamentals, clueless FOMC and unsupportive Trump stance, Dollar manages to bounce last night (near 38.2% retracement 99.27 of 91.92 (May 2016) low and 103.82 (Jan 2017) high) Just ahead of NON FARM PAYROLLS and indicate an ease in the down side pressure which was affecting US DOLLAR INDEX since last couple of week.

A little support from NFP, wages and unemployment rate can add further strength to dollar to recover toward 101.50-102.20 area before getting a clear picture ahead of other important fundamental events including Fed’s monetary report and Yellen’s semiannual congress testimony, budget proposal to congress by the new administration, first G20 summit and meeting since US Elections and President Trumps address on the Policy Proposals to the State of the Union.

Support: 99.60, 99.30, 98.80

Resistance: 100.40, 101.00, 101.50, 102.20

Author

Jahan Ara

FXQ MARKET RESEARCH

FXQ Market Research publishes the unbiased opinion about the Forex market to help you make a batter decision. Detail information about possible entry and exit points, risk possibilities, reward expectations are part of FXQ Market Updates.

GBP/USD clings to multi-day peaks below 1.3500

GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.

EUR/USD: Post-NFP bounce falters around 1.1580

EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

XRP Price Forecast: XRP nears critical $1.00 support

Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.

Is Gold about to enter its biggest bull run since 2020?

Gold has stormed back into the spotlight and its next move could leave late buyers chasing. On August 5, the yellow metal surged almost 7% – roughly $174 – to close near $4,308 an ounce, posting one of its biggest daily advances in recent history. A weaker U.S dollar, falling Treasury yields, changing Federal Reserve expectations and renewed safe-haven demand all struck at once.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.