US Dollar

A rebound off trend support keeps the focus on a breakout of the weekly range heading into NFPs on Friday. Battle lines drawn on the DXY short-term technical charts.

The US Dollar finally pulled back from its aggressive Q4 breakout move, and this was fueled by the strongest weekly outing in EUR/USD in two years with last week’s bounce.

USD/JPY bears have gone to work over the past two weeks, holding a lower-high even as USD spiked last Friday. And then forcing a breakdown from the descending triangle formation to test below the 151.95 level.

It’s been a fast-evolving market since the Presidential election three weeks ago. But stocks remain higher, Bitcoin has put in a major move and gold is on its back foot.

The update to the US PCE index is anticipated to show a rise in both the headline and core reading.

Crude Oil, GBPJPY Forecast: The lingering effects of Trump-era policies continue to shape broader market trends. Expectations of war resolutions are pressuring oil prices into a neutral stance, while tariff policies are fueling volatility across the US dollar rally.

USD/CAD tested above a major level last week of 1.4000, which hadn’t traded in more than four years. So far this week sellers have sunk price back below that level, but can they hold it into week and month-end?

US Dollar surged 6.9% off the yearly low with the Trump rally fueling a breakout of the 2023 consolidation pattern. Battle lines drawn on the weekly technical chart.

The US Dollar has finally found some resistance after filling the FOMC gap from last year, and that goes along with a EUR/USD bounce from the 1.0500 psychological level.

It’s been a fast first-half of Q4 for both the US Dollar and EUR/USD and both are now showing a case of RSI divergence from the daily chart.

The US Dollar has continued its rally after Trump’s win and last week’s FOMC rate decision, and DXY is now testing some unfilled gap from last November’s FOMC meeting.