The greenback strengthened late last Friday, amid higher US yields and some risk aversion. The US 10-yield rose to 1.35%. Economic data from the US showed higher than expected PPI inflation in August. Consider buying the dollar because it would strengthened further this week. Noticed DXY broke the counter trendline and it would advance to 93.16 resistance.
GBPUSD tested 1.3880 handle and got rejected twice by strong selling pressure thus, forming a double top chart pattern. The market is in a strong selling pressure to test four hours support (1.3730). The break of 1.3730 support would cause price to plummet to test 1.3600 psychological level which is four hours demand zone.
We went long on USD/CAD and took 87pips profit before price dropped on last Friday during the American session. The broad-based USD weakness following FOMC chairman Jerome Powell's speech at the Jackson Hole Economic Symposium was the reason USD/CAD dropped to find support (our previous entry). Entry, stoploss and take profit will be posted on premium channel.
NZD/USD could face some additional pressures in the open on Monday as news circulates over the prospects of a worsening wave of coronavirus.
On Friday, NZD/USD closed at 0.6830 and up by some 0.1% as the US dollar gave back some ground with a rise in risk appetite on Wall Street.
We will take a long position when price gets to us.
Entry, stoploss and target...