Although forex markets over the past few weeks have seen the dollar drop continuously, the greenback fought hard to stay afloat in today’s trading session. But even despite the best efforts of the dollar, forex traders still witnessed it fall for the 7th week in a row now.
Set against a basket of currencies, the dollar’s performance did seem a bit stronger. The most-traded pair in forex, Euro dollar, has edged further up and even marked a two-year high of $1.1915 just last week. This has now proven to be a major resistance level in Euro forex chart, with support at around $1.1755.
And as far as the JPY forex chart goes, the dollar did somewhat better there, finishing above the recent low of 104.17. And in another popularly traded pair, the pound to Euro ratio continues to drop steadily as well. However, the short-term forex August 2020 forecast does entail a brief entanglement before the decline of the pound can resume.
Watch the full video for a deeper look into the forex August forecast. And stay tuned for our best forex strategy to navigate the market during these uncertain times!
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Chapters to get around easier:
00:00 Dollar Index check
00:39 EURUSD quick view
02:20 EURUSD news
04:18 EURUSD chart analysis
06:40 GBPUSD news
08:27 GBPUSD chart analysis
09:43 USDJPY news
11:01 USDJPY chart analysis
13:55 GBPUSD news
15:34 GBPUSD chart analysis
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