Today’s trading session has kicked off relatively calmly. However, it does not mean that there is no interesting news to discuss. We have carefully analysed the current market situation. So, we are ready to share our forecast on the main trading instruments of the Asian session with you. Enjoy our video review and do not forget to leave the comments down below.
The US dollar index is still fluctuating near the level of 95.8, confirming our predictions. During the day, the index may decrease to 95.5 or 95.6. Its downward movement may be facilitated by a drop in US Treasury yields. The 10-year government bond yields sank by 1.37% to 1.58%. It is bearish for the US dollar. This is why it has stumbled slightly.
Meanwhile, the yen managed to advance a little bit against the US dollar yesterday. The correction started at the level of 114.90. Now, the dollar/yen pair is trading at 114.13. Many experts believe that such a trajectory is due to yesterday's news on a trade deficit in Japan. The quotes may continue to decline to 113.80 because of this weak report. Besides, technical indicators have already entered the negative zone.
The Australian dollar showed the first signs of a trend reversal in today's Asian trading session. Yesterday, we said that soon we would see an upward movement on the chart? We were right. Analysts still do not see the fundamental reasons for a complete trend reversal. So, it is still possible to open short positions. All technical indicators signal a possible decline of the pair to 0.7220. Only after this drop, the pair is likely to resume an upward correction. Now, the pair is trading at 0.7280. Write in the comments, what do you think about the future trajectory of the Australian dollar? Will it regain ground or keep dropping? We would be happy to learn your opinion.
That’s all for now! Do not miss our next video review! Subscribe to our channel and leave your feedback in the comments down below.
00:00 Intro
00:29 USDX
01:00 USD/JPY
01:37 AUD/USD
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