U.S. Dollar Gains Ground At The Start Of The Week
U.S. Dollar Index continues to rebound as traders focus on the better-than-expected ISM Manufacturing PMI report. The report indicated that ISM Manufacturing PMI increased from 47.9 in December to 52.6 in January, compared to analyst forecast of 48.5.
In case U.S. Dollar Index stays above the resistance at 97.10 – 97.25, it will head towards the next resistance level, which is located in the 98.00 – 98.15 range.
EUR/USD Attempts To Settle Below 1.1800
EUR/USD remains under pressure despite the better-than-expected Retail Sales reprot from Germany. The report showed that Retail Sales increased by +0.1% month-over-month in December, compared to analyst forecast of -0.2%.
Currently, EUR/USD is trying to settle below the support at 1.1835 – 1.1850. In case this attempt is successful, EUR/USD will move towards the next support level, which is located in the 1.1750 – 1.1765 range.
GBP/USD Retreats As Pullback Continues
GBP/USD is moving lower as traders continue to take profits after the recent rally.
A move below the 50 MA at 1.3662 will open the way to the test of the next support at 1.3570 – 1.3585.
EUR/USD Price Forecast
Every new EUR/USD analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all EUR/USD forecastsUSD/CAD Tests New Highs Amid Sell-Off In Commodity Markets
USD/CAD attempts to settle above the resistance at 1.3650 – 1.3665 as traders react to the sell-off in commodity markets.
If USD/CAD stays above the 1.3665 level, it will move towards the next resistance at 1.3750 – 1.3765.
USD/JPY Tests the 155.00 Level As Treasury Yields Rise
USD/JPY climbed above the 155.00 level as traders focused on rising Treasury yields. The yield of 2-year Treasuries moved above 3.55%, while the yield of 10-year Treasuries settled above the 4.25% level. From a big picture point of view, USD/JPY continues to recover after the sell-off, which was triggered by intervention risks.
A successful test of the resistance at 154.50 – 155.00 will push USD/JPY towards the next resistance at 158.00 – 158.50.
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