Currency market review 07 January, 2019

by @agcc
Currency market review 07 January, 2019


The leading world currency US dollar 🇺🇸 is in a state of downward correction inside the uptrend market against the basket of major world currencies. Last week, we saw huge volatility in the background of Apple-related news. At the current week, the dollar correction may continue, however, the market remains bullish despite the fact that in some currency pairs the quotes marked new local minima.


The price of euro 🇪🇺 shows unavailability for further decline. In the next week or two, we will probably see a good medium-term correction against the global trend.


The British 🇬🇧, like the euro, is aimed at a medium-term correctional wave. But the currency is traded on particularly dangerous areas of resistance, expressed by the sloping line of the long-term channel. Last week we saw an intense and very aggressive bearish rebound from this area. History, as is known, repeats.

January 7, 2019
by @agcc