Has the US Dollar Hit an Inflection Point? GBP/USD, AUD/USD, EUR/USD, USD/JPY

The US dollar’s rally is showing signs of fatigue ahead of the Oct. 31-Nov.1 FOMC meeting. What is the outlook and what are the key levels to watch in EUR/USD, GBP/USD, AUD/USD, and USD/JPY?

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.2023-10-24 02:00:00IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 86.85%, while traders in USD/JPY are...Supercharge your trading prowess with an in-depth analysis of USD's outlook, offering insights from both fundamental and technical viewpoints. Claim your free Q4 trading guide now!meeting.

Meanwhile, technical charts suggest that the greenback could be in the process of setting a short-term peak – a risk highlighted earlier this month. See “ Market diversity, as measured by fractal dimensions, appears to be low as the DXY Index hit a multi-month high earlier this month. Fractal dimensions measure the distribution of diversity. When the measure hits the lower bound, typically 1.25-1.30 depending on the market, it indicates extremely low diversity as market participants bet in the same direction, raising the odds of at least a pause or even a price reversal.

If you're puzzled by trading losses, why not take a step in the right direction? Download our guide, "Traits of Successful Traders," and gain valuable insights to steer clear of common pitfalls that can lead to costly errors./USD’s slide has paused as it approaches significant support at the March low of 1.1800. Given oversold conditions, and light positioning, a minor rebound wouldn’t be surprising. Any break above the initial resistance at the October 11 high of 1.

We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. Any and all information provided by FXP is not intended for use by U.S. residents or individuals domiciled in the U.S.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

DailyFX /  🏆 305. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weekly forex analysis: EUR/USD, GBP/USD, AUD/USD and more [Video]Weekly forex forecast covers forecast on EUR/USD , GBP/USD , AUD/USD , NZD/USD , USD/CAD , USD/JPY / Gold (XAU/USD) , Bitcoin (BTC/USD) , S&P500 , Cru
Read more »

EUR/USD rises amid Eurozone economic data and ECB policy decisionsEUR/USD rises amid Eurozone economic data and ECB policy decisions
Read more »

FX weekly — DXY and 14 currency pair levels and targetsEUR/USD this week is the most vital currency Vs USD as EUR/USD's direction determines the trade line up for the next month. EUR/USD remains oversold a
Read more »

AUD/USD recovers its recent losses above 0.6300 ahead of Australian PMIThe AUD/USD pair kicks off the new week on a positive note during the early Asian session on Monday. The modest rebound of the pair is supported by a
Read more »

EUR/USD holds below the 1.0600 mark ahead of ECB rate decisionThe EUR/USD pair turns red during the early Asian session on Monday after retracing from the 1.0600 psychological round mark. Market players await the
Read more »

GBP/USD hovers above 1.2150 major level, focus on UK employment, PMI dataGBP/USD struggles to continue the winning streak. trading around 1.2160 during the Asian session on Monday. However, the currency pair encountered a h
Read more »