Over the past week the dollar again lost some of their positions. But despite continued pressure, the rate of weakening of the U.S. dollar against major competitors have considerably decreased. Some analysts attribute the current weakness of the dollar to seasonal factors. Here are taking place, as an imbalance in demand for currency by the period of tourist trips and low trading activity due to the holiday season. Major participants (market makers) may again take to the dollar closer to the fall. Thus, August can be a turn-month for the U.S. currency. The cause of the dollar can be a mass closing of short positions by speculators. According to some brokers foreign exchange market in recent weeks, the volume of Short euro against the dollar is at record levels.
EUR/USD lower in early European session on Monday. The positive news on the economy of the euro area already laid down in price, and now to continue the growth of the euro need new drivers. In addition, the hotel is close to a strong resistance level of 1.34 . Downtrend line currently runs at 1.3285 . Dive quotes European currency below this line may be a signal for the game to drop a couple. The main objective of any medium of speculation in this tool is the mark of 1.2750. This level, according to dealers, the pair may test for the September Fed meeting to be held on the 18th. In the meantime, participants expect an increase in the dollar, you can place pending sell orders just below 1.3285. Safety stop in case optimally set in 1.3390 .
USD/JPY is also showing signs of a reversal in the medium term. Overcoming the last local maximum at 96.96 will be a signal for the technical analysis of the figures - a double bottom. The purpose of short-term upward momentum will mark 98. If the demand for the dollar will spread across the front, in the near future is waiting for test levels of 100,102 yen per dollar.
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