Labor market data, showing that the number of Americans applying for jobless benefits stayed at historically low levels last week, further solidified the greenback’s gains by bolstering confidence in the country’s economic prospects.
On the other hand, if buyers trigger a bullish reversal and prices rebound off current levels, resistance is located at 1.0980 and 1.1020 thereafter. Above these thresholds, the focus will be on 1.1075, a key ceiling created by a medium-term descending trendline.'s outlook – will it weaken or recover in the near term? Discover all the details in our quarterly forecast.
Alternatively, if sentiment improves and cable mounts a turnaround, initial resistance appears at 1.2830, followed by 1.2895. Breaking through this barrier might pose a challenge for the bullish camp, although a successful breach could lead to a rally toward the psychological 1.3000 mark.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Dollar Forecast: US PCE to Guide Markets; EUR/USD, GBP/USD, USD/JPY SetupsThis article explores the technical outlook for three major U.S. dollar pairs: EUR/USD, GBP/USD, and USD/JPY. In the piece, we also discuss potential market scenarios ahead of key U.S. PCE data.
Source: DailyFX - 🏆 305. / 63 Read more »
US Jobs Report to Guide US Dollar’s Outlook; EUR/USD, USD/JPY, GBP/USD SetupsThe February's U.S. jobs report is poised to inject a considerable amount of volatility into financial markets and may play a pivotal role in shaping the near-term trajectory of the U.S. dollar.
Source: DailyFX - 🏆 305. / 63 Read more »
US Dollar Forecast: US CPI to Spark Next Big Move - EUR/USD, USD/JPY, GBP/USDFebruary's U.S. inflation data is poised to ignite heightened market volatility in the upcoming week, playing a pivotal in shaping the near-term outlook for the U.S. dollar.
Source: DailyFX - 🏆 305. / 63 Read more »
Markets on Edge Before US PCE Data; Outlook – Gold, EUR/USD, USD/JPY, GBP/USDThis article provides an in-depth analysis of the outlook for EUR/USD, USD/JPY, GBP/USD and gold prices, exploring various potential scenarios that may manifest over the coming days and weeks.
Source: DailyFX - 🏆 305. / 63 Read more »
US Dollar Subdued Ahead of Fed Minutes; Setups on EUR/USD, USD/JPY, USD/CADThis article focuses on the technical outlook for three popular U.S. dollar pairs: EUR/USD, USD/JPY, and USD/CAD. Throughout the piece, we scrutinize potential scenarios and examine key price levels worth watching in the coming days.
Source: DailyFX - 🏆 305. / 63 Read more »
US Dollar’s Bullish Bias Holds Steady; Setups on EUR/USD, GBP/USD, Gold PricesThis article delves into the outlook for EUR/USD, GBP/USD, and gold, shedding light on crucial price thresholds to monitor in the upcoming trading sessions.
Source: DailyFX - 🏆 305. / 63 Read more »