as this weeks may-hem saw prices remain within the same range thats been present for the past couple. But, theres a major issue that could continue to bring bears into the mix, and given recent price action, EUR/USD remains as one of the more attractive candidates for long-USD strategies. While this may not be enough to create a hold at the banks December rate decision, it could play-in to a softer stance as markets roll in to 2019, and for emerging markets that could be a very welcome occurrence. The setup did not start out well as the initial move of USD strength this week saw prices push up to fresh highs; but the last four days of the week were a bit more positive for the bearish approach as a series of lower-highs. A bit of caution has started to show at the Fed, as indicated by fomc Chair Jerome Powells comments this week. Fibonacci level neared around.1212, and the last four days of this week were met with a retracement as buyers pushed back. Our trading guides bring our DailyFX Quarterly Forecasts and our Top Trading Opportunities; and our real-time news feed has intra-day interactions from the DailyFX team. Stops can go to break-even at the first target with secondary targets set.1250 and, optionally, a third-scale left open to play for a down-side breakout to fresh lows. EUR/USD Eight-Hour Price Chart Chart prepared by James Stanley Bearish USD/CHF Below.0090 for USD-Weakness Strategies I had set this one up last week, essentially trying to call a top for a bearish reversal after the pair neared fresh two-year highs. If youd like more color around any of the setups below, join in our live DailyFX webinars each week, set for Tuesday and Thursday at 1PM Eastern Time.
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Below, I look at four price action setups designed for next week. Our DailyFX Forecasts for Q4 have a section for each major currency, and we also offer a plethora of resources on USD -pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD. USD/CAD Four-Hour Price Chart: Confluent Support Test Chart prepared by James Stanley To read more: Are you looking for longer-term analysis on the.S. NZD/USD Four-Hour Price Chart: Pullback Potential From Fresh Four-Month Highs Chart prepared by James Stanley Bullish USD/CAD on Hold of Confluent Support The past few weeks have brought an imbalance in short-side USD-setups as already in November Ive looked at such in USD/CHF, USD/CNH, NZD/USD. This could make for an especially troubling backdrop in the latter-portion of next week as low liquidity is met with a couple of themes that could bring large drive into related markets. The more attractive long-USD setups was largely in the Euro as the British Pound started to get wild around Brexit-dynamics, but another long-USD setup may be brewing right now thats worth keeping watch on, and thats in USD/CAD. This can be connected down to the swing-low around.6795 to create a support zone to follow. While the US Dollar was breaking out to fresh highs last month, NZD/USD put in a respectable hold of support combined with its own lower-highs. For next week, I want to re-incorporate the resistance zone that I had used earlier in the month that runs from.1448-1.1500. The pair broke out to fresh four-month highs earlier this week, but seemed to encounter some turbulence around the.3250 psychological level. Sellers slowed the throttle as a big long-term.
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