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Fundamental Analysis:
The U.S dollar made significant losses against a basket of the other major currencies in last week’s trading session.
The greenback’s losses came after the Federal Reserve surprised markets by cutting its rate hike projections more than expected, down from four to two in 2016.
The Fed scaled back forecasts for how high interest rates will rise this year following the conclusion of its policy meeting on Wednesday, citing the potential impact from weaker global growth and financial market turmoil on the U.S. economy.
Investors and economists dialed back their own rate hike expectations in wake of the Fed’s surprisingly dovish outlook, with traders of interest-rate futures now seeing no rate rise before September.
Technical Analysis For GBP/USD:
More Buying is expected this week as 21 and 55 EMA are crossed to the upside. Also SSRC indicator shows more buying momentum is expected in the pair. Further rise to 1.4666 resistance could be seen.
Technical Analysis For EUR/USD:
More Buying is expected this week as 21 and 55 EMA are crossed to the upside. Also SSRC indicator shows more buying momentum is expected in the pair. Further rise to 1.1493 resistance could be seen.
Technical Analysis For AUD/USD:
More Buying is expected this week as 21 and 55 EMA are crossed to the upside. Also SSRC indicator shows more buying momentum is expected in the pair. Further rise to 0.7848 resistance could be seen.
Technical Analysis For NZD/USD:
More Buying is expected this week as 21 and 55 EMA are crossed to the upside. Also SSRC indicator shows more buying momentum is expected in the pair. Further rise to 0.6927 resistance could be seen.
Technical Analysis For USD/CAD:
More Selling is expected this week as 21 and 55 EMA are crossed to the downside. Also SSRC indicator shows more bearish momentum is expected in the pair. Further decline to 1.2831 support could be seen.
Technical Analysis For USD/JPY:
More Selling is expected this week as 21 and 55 EMA are crossed to the downside. Also SSRC indicator shows more bearish momentum is expected in the pair. Further decline to 108.58 support could be seen if we get a confirm break of 110.63 low.
Technical Analysis For USD/CHF:
More Selling is expected this week as 21 and 55 EMA are crossed to the downside. Also SSRC indicator shows more bearish momentum is expected in the pair. Further decline to 0.9475 support could be seen if we get a confirm break of 0.9649 low.
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