Forex Long-term Snapshot - Forex News by FX Leaders
Not too many changes in longer-term moves

Forex Long-term Snapshot

Posted Tuesday, June 26, 2018 by
Rowan Crosby • 1 min read

As markets get ready to open in Europe, here is a quick look at what is happening in the majors based on the monthly chart. Ths USD has been falling on the continued trade wars saga and almost daily news headlines.

This analysis is based on momentum and if we are getting ready for a short-term turning point. Still not too many changes from last time as the USD weakens.

USD (DXY) – Neutral – Stuck at Overhead Resistance

USD/CHF – Slowing Down

USD/JPY – Range Bound

EUR/USD – Temporary Low

USD/CAD – Still Breaking Out

GBP/USD – More Downside Ahead

AUD/USD –  Short-term Spike, turning back down

NZD/USD – Short-term Spike

Best Momentum Pairs

USD/CAD – The USD/CAD has been a good play recently and thanks to Friday’s data has pulled back a touch.

GBP/USD – The GBP is still weak and offering good opportunities for the trend to continue to the downside.

Things to Watch on Tuesday

The attention is still on the trade wars and the daily negative headlines. US stocks are falling and we need something to halt the slide. The USD is grinding lower without a driver to get things back up to resistance. This will keep the majors ticking higher against it until something changes. US GDP is a big one on Thursday.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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