Global macro overview for 20/11/2017
November 20, 2017 2:26 pmVideo
Latest News
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
It looks like this week’s most important event is Thursday’s Thanksgiving Day in the US, which has implications for the global market. The week will be shorter, so traders and investors in the US will leave for home early. This situation would mean a lack of incentives to play long-term subjects, and even short-term speculation may be rare. Especially on the USD side, there will be a shortage of data generated anchors. The macro calendar is light in key events releases, and progress on the tax bill in the US Congress is halted, as congressmen leave Washington for the holidays as well. The only chance for the US Dollar to appreciate is a further development of political risk in Europe. Since EUR has a dominant (58%) share in the basket forming the DXY dollar index, the EUR/USD rollover with the DXY signal could revive the strengthening of the Dollar on other crosses. Without it, there is a week without fresh impulses on financial markets that can improve the position of the Dollar.
Let’s now take a look at the US Dollar Index technical picture at the H4 time frame. As indicated earlier, the market remains locked inside of the trading zone between the levels of 93.39 – 94.03 and the key level for the upside is still the technical resistance at the level of 94.47. As long as the price stays below the golden trend line the overall outlook remains bearish.
The material has been provided by InstaForex Company – www.instaforex.com
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