- US Dollar strength has continued as USD[1] opened the week by gapping-up and then running to fresh 2018 highs. This morning’s European open saw DXY[2] test the 94.00 level for the first time in 2018, and prices have been pulling back since. There’s a portion of remaining unfilled gap (as of this writing) just underneath current price action.
- USD strength has been persistent, and this has helped to produce tests of longer-term support areas in both NZD/USD[3] and EUR/USD[4]. Meanwhile, GBP[5] is on the offer after Scottish Prime Minister, Nicola Sturgeon, pledged to ‘re-start’ the campaign for secession from the UK; and this comes ahead of a slew of GBP-drivers on the economic calendar for later this week.
- DailyFX Forecasts have been updated for Q2, and are available from the DailyFX Trading Guides page[6]. If you’re looking to improve your trading approach, check out Traits of Successful Traders[7]. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide[8].
Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator[9].
US Dollar: Bulls on Parade
The bullish breakout in the US Dollar continues[10], as DXY gapped-higher to open this week’s trade and continued to run into the 94.00 level. This was the first test of that area so far in 2018, and after trading at that level around this morning’s European open, prices have started to digest a portion of those recent
