The latest monetary policy decisions from the Bank of Japan and the Federal Reserve have failed to stem this week’s sharp sell-off in USD/JPY and a fresh multi-month low nears.
GBP will take its cue from Thursday’s monetary policy announcement by the Bank of England, which will keep UK interest rates unchanged but could hint at more stimulus.
The RSI indicates a larger correction for EUR/USD as the oscillator reverses ahead of trendline resistance to retain the downward trend carried over from the end of July.
The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.
Following losses, IG Client Sentiment hints the Dow Jones and S&P 500 could further stabilize. Will Germany’s DAX 30 extend gains as retail investors increase downside exposure?
Canadian Dollar may be vulnerable to further losses as USD/CAD rebounds off key Fibonacci support. Here are the levels that matter on the weekly technical chart.