U.S. Dollar Comes Up Against Support,Euro Rally Could Be Short-Live

Companies:Dow Jones FXCM Dollar Index Topics:Currencies David Song,On Thursday July 21,2020,12:08 pm EDT

The Dow Jones-FXCM U.S. Dollar index tumbled to a fresh monthly low of 9457.89,and the reserve currency may struggle to hold its ground throughout the North American trade as investors raise their appetite for yields.

. . . →Read More:U.S. Dollar Comes Up Against Support,Euro Rally Could Be Short-Live

British Pound Breaks Through Channel Resistance – Target at 16420

Companies:GBP/USD Topics:Currencies Related Quotes Symbol Price Change GBPUSD=X 1.6310 +0.0158 Jamie Saettele,On Thursday July 21,2020,12:06 pm EDT

 

240 Minute Bars

Prepared by Jamie Saettele,CMT

“The GBPUSD appears on the verge of breaking above its short term bearish channel. The rally from 15780 is sharp and impulsive . . . →Read More:British Pound Breaks Through Channel Resistance – Target at 16420

AUD/CAD Faces Channel Resistance,Making Bearish Case

An unexpected rate hike by the RBA increased the Aussie’s yield advantage over the other major currencies and has the commodity dollar setting multi –year highs. The AUD/CAD is at its highest level since March,2004which in itself makes a case for a potential reversal.

AUD/CAD Faces Channel Resistance,Making Bearish Case

An unexpected . . . →Read More:AUD/CAD Faces Channel Resistance,Making Bearish Case

Geithner Speech Frightens USD Bears

Playing,the role of the USD good guy,Treasury Secretary Geithner said yesterday that the US will not devalue the USD.  Continuing as reported on Market Watch:

No country,including the U.S.,can devalue its way to progress and prosperity,he added.

The U.S. dollar plays a “particularly special” role as the main reserve currency . . . →Read More:Geithner Speech Frightens USD Bears

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