Weekly Outlook – 26/08/19 – 30/08/19

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DXY 1D

  • USD Index made a significant drop on Friday caused by President Trump who will likely continue to devalue the USD.
  • Technically price has broken through the trendline support.
  • price closed below.
  • suggesting we may see the push lower now.

https://www.tradingview.com/chart/DXY/MAc5OIcf-DXY-1D/

*updates will be available in the comments section as price-action develop.

GBPUSD 1D

  • GBP strength expect to continue.
  • The strength and weakness charts suggest the GBP is still gaining against other major currencies.
  • The price on GBPUSD chart likely to push to the 1.2400 level resistance.

https://www.tradingview.com/chart/GBPUSD/QXjIMhua-GBPUSD-1D/

*updates will be available in the comments section as price-action develop.

AUDUSD 1W

  • AUDUSD at key support (minor demand zone ) and remains under pressure from the US, China trade wars.
  • If the US continues to impose tariffs will continue to have a negative effect on the Australian economy causing a further devaluation of the Australian Dollar ****fundamentally
  • The price continues to remain at the lows and will likely remain here for short term.
  • Technically major buying area at 0.68600.

https://www.tradingview.com/chart/AUDUSD/0RiwVMzF-AUDUSD-1W/

*updates will be available in the comments section as price-action develop.

 


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