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Forex Market Forecasts: Decline in US Stocks Indexes, August 28, 2019
Forex Market Forecasts: Decline in US Stocks Indexes, August 28, 2019
Posted

By - Jamel Lahiani

Posted - 28-08-2019
  • The EURUSD and USDJPY are sideways ranging.

Today our analysis will be concerned with EURUSD and USDJPY
EURUSD is the most traded currency pair in the world. It is used to ascertain the value of the US Dollar against the Euro, telling traders how many Dollars are needed to buy one Euro. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

CLICK ALSO: Euro to Dollar Forecasts: The G7 meeting, August 27, 2019

USD/JPY is the FOREX ticker used to represent the US Dollar and Japanese Yen exchange rate on currency markets. It is used to ascertain the value of the US Dollar against the Yen, telling traders how many Yen are needed to buy a US Dollar.

FOREX Market Insights
The US markets are dominated by worries and uncertainty. Because of the Sino-U.S trade war shook, all US stocks indexes are falling. A global recession could be seen at the horizon. This leads a weakness of the US dollar against the others currencies.

GRAPHIC 1: EURUSD HOURLY CHART (AUGUST 28, 2019)
We have a sideways market inside the colored channel. The pair moves between two limit of the channel. A good entry to the market could be to sell at the top of the channel and buy at the bottom.
If the chart beaks the MA14 in blue color and close to the upside we could buy EURUSD. If the chart closes downside of MA14 a sell order could be considered.

The CCI indicator or the commodity channel index indicator is an oscillator. This indicator oscillates between fixed levels of +100 and -100. It is interesting to sell the pair when the pair is overbought that mean CCI is more than +100. At short term, we can buy at the bottom of the channel when the pair is oversold that mean CCI is more less than -100.

GRAPHIC 2: USDJPY HOURLY CHART (AUGUST 28, 2019)
The USDJPY pair has also a sideways movement inside the colored channel. A good entry to the market could be to sell at the top of the channel and buy at the bottom.

The CCI indicator or the commodity channel index indicator is an oscillator. This indicator oscillates between fixed levels of +100 and -100. It is interesting to sell the pair when the pair is overbought that mean CCI is more than +100. At short term, we can buy at the bottom of the channel when the pair is oversold that mean CCI is more less than -100.

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