The U.S. Dollar Strengthens Against Major Peers

• 20 Feb 2018

USD/JPY

The USD/JPY pair appears to be recovering from a strong sell-off which started off with a spinning top candle at the bottom of the downtrend. The result has been a bullish break of the lower Bollinger band and a break of the 30 support zone on RSI.

USD/CHF

The USD/CHF pair has also begun a bullish run breaking the 0.926 price level in the process. Momentum indicators support bullish price action with upward trajectories. Price action will likely head towards the 0.937 price line which represents a previous resistance level.

USD/CAD

The USD/CAD pair has broken the 1.254 price level as initial indecision in the pair has given way to buyer dominance. A break of the zero line on MACD provides weight to the bullish move, confirmed by RSI which also has an upward trajectory. The next price target for bulls will likely be the 1.267 price line.

GBP/USD

The GBP/USD pair has begun another decline and is once again testing the 20 period EMA. A break to the downside would confirm U.S. Dollar strength against the Pound, however, previous bearish moves have been short-lived. Momentum indicators confirm a bearish bias with a momentum reversal on MACD.