⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

Forex Long-term Snapshot for Thursday

Posted Thursday, June 28, 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 forex majors based on the monthly chart. Ths USD managed to break out above resistance and that is setting things up for a very interesting session today. With US GDP in the spotlight, there could well be more upside ahead.

This analysis is based on momentum and if we are getting ready for a short-term turning point.


USD (DXY) – Neutral – Testing Resistance

USD/CHF – Turning Higher

USD/JPY – Range Bound

EUR/USD – Temporary Low – Pause for Now

USD/CAD – Still Breaking Out

GBP/USD – More Downside Ahead

AUD/USD –  Pushing Lower

NZD/USD – Breaking Out and Move Lower


Best Momentum Pairs

NZD/USD – The bearish RBNZ will help add to the pain for the Kiwi as it looks to be moving lower.

USD/CAD – The USD/CAD is trying to break out but has been met by selling in the short-term.

GBP/USD – The GBP/USD is having another run at support.


Things to Watch on Thursday

The US will be releasing GDP today and it is a release that certainly has our attention. A few weeks ago we saw retail sales have a big win. And that has lifted expectations on this release. A beat will see the USD power onward and upward and pressure the majors.


Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments