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US Dollar, EUR/USD, USD/JPY, AUD/USD Talking Points:

  • The US Dollar has put in a bounce to start Q3 trade, with sellers showing up to offer resistance at the underside of a prior bullish trend-line.
  • This keeps the door open for themes of weakness in the Greenback, and scenarios around EUR/USD[1] or USD/JPY[2] can be conducive for such themes. On the other side or for traders looking at USD-strength, AUD/USD[3] remains of interest.
  • DailyFX Forecasts are published on a variety of markets such as Gold[4], the US Dollar[5] or the Euro[6] and are available from the DailyFX Trading Guides page[7]. If you’re looking to improve your trading approach, check out Traits of Successful Traders[8]. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide[9].

US Dollar Scales Back, Finds Resistance at Rising Wedge Support

The Third Quarter has started with a bit of retracement in the US Dollar[10]. The currency had broke-lower in the month of June around a dovish flip at the FOMC[11], with prices in DXY[12] dipping-down for a fresh two-month-low. And as looked at in the Q3 technical forecast for USD[13], the backdrop leading into that break can keep the door open for bearish approaches in the currency as the door has opened into the second-half of 2019.

The first few days of Q3, however, have seen a bit of

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