The relative calm of August trading is likely to fully disappear in the coming days, as traders react to more nervous sentiment and the USD/ZAR could prove very choppy.

The USD/ZAR is trading near the 17.00000 level as of this writing, as bullish speculation gets plenty of consideration.

The USD/ZAR is trading within sight of the 17.00000 with active price action abundant.  On cue in the midst of the storm created by Federal Reserve Chairman Jerome Powell on Friday, the USD/ZAR currency pair went from a low of nearly 16.71000 to 16.90000 without much hesitation. Via early transactions this morning the USD/ZAR has continued to move incrementally higher and is touching key psychological ratios near 17.00000.

17.00000 Could prove to be Lynchpin for Dynamic Movement in USD/ZAR this week

It may seem quite simple to say the 17.00000 is important psychologically, but having broken this ratio higher already in July and only last week, the USD/ZAR may start to create a group of ‘backers’ who believe the forex pair should be above this level fundamentally for the time being . Global market conditions remain nervous and last week’s Jackson Hole central bankers’ conference has done little to soothe the minds of financial houses.

Technically the 17.00000 has been punctured enough in recent memory to have created a framework of belief this level can prove vulnerable again.  If the 17.00000 level is toppled and the 17.05000 mark begins to be flirted with it could set the stage for another round of dynamic speculative buying. Only one week ago the USD/ZAR touched the 17.13600 mark. And in July the USD/ZAR traded above 17.20000.

Traders need to be prepared for the Potential of a rather Turbulent Week in the USD/ZAR

• The relative calm of August trading is likely to fully disappear in the coming days, as traders react to more nervous sentiment and the USD/ZAR could prove very choppy.
• Global conditions in Forex remain intense as a strong USD causes problems with a handful of emerging market currencies; the USD/ZAR is reflecting this whirlwind of results as it tests highs.

Speculators should not be overly ambitious in the short term.  Quick hitting trades which look for realistic targets may prove to produce the best results in the near term. If sustained trading takes place above the 17.00000 level this will spark intrigue for the USD/ZAR and could allure more bullish sentiment.

However, the USD/ZAR will need to sustain value above the 17.14000 ratio in order to build a strong surge higher which then tests July’s highs. If the USD/ZAR were to stumble to the 16.93000 to 16.87000 ratios it may be tempting as a place to ignite buying positions based on the notion more upside price movement will occur.

USD/ZAR Short Term Outlook:

Current Resistance: 17.04900

Current Support: 16.93200

High Target: 17.15800

Low Target: 16.81000

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The USD/MXN is trading near important resistance as speculators consider rather intriguing technical potentials.

On the 19^th of August the USD/MXN was trading near the 20.27000 ratio which essentially came within sight of resistance, with higher marks achieved in the first week of August. By the 25^th of August the USD/MXN had produced a selloff which returned the forex pair to its lower values as the mark of 19.85000 was tested.

But as speculators know, the end of last week witnessed U.S Fed Chairman Powell outline his thoughts for more interest rate hikes to come, and the USD/MXN turned higher with a relatively swift momentum. As of this morning the USD/MXN is traversing important near term resistance and is currently trading near the 20.12700 level. Technical traders are likely eyeing the 20.13500 area as a place to make a decision about potentially stronger buying to occur which could target the marks seen one week ago.

Range has been Strong and may continue to Produce Opportunities in the USD/MXN

Yes, the USD/MXN reflected the broad Forex results as the USD got stronger this past Friday. Technical traders may be inclined to believe that the USD/MXN has produced a rather intriguing price range the past few months and look at its results and wonder if the higher price momentum can be sustained. In July the USD/MXN traded momentarily above the 21.00000 level. As recently as the 2^nd of August the USD/MXN was near the 20.81000 ratio.

August’s Tranquility is Likely to become a Rather Distant Memory Soon in the USD/MXN

Nervous behavioral sentiment appears to be growing, and this week may produce additional choppy trading as financial houses brace for the end of summer and renewed questions about the global economic outlook.  Yes the price of Crude Oil within its higher price range if maintained is likely to serve as a solid anchor of value for the Mexican Peso, but questions about the U.S Federal Reserve and its interest rate will rock the boat.

• The potential for a higher move with the USD/MXN should be considered if current near term resistance around the 20.140000 is broken higher and sustained.
• Traders should be prepared for choppy conditions if technical reactions to higher moves are generated.

The USD/MXN could find itself testing a higher range from 20.20000 to 20.40000 if buying momentum flourishes in the coming days. Trading may prove to be nervous in the coming days as speculators adjust their decisions to financial houses which seek equilibrium.  Risk management will be crucial in the short term. If a trader buys on lower price action near current support around the 20.10000 mark and looks for quick hitting upside wagers they cannot be blamed short term.

USD/MXN Short Term Outlook:

Current Resistance: 20.16400

Current Support: 20.09800

High Target: 20.34000

Low Target: 19.98700

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The USD/INR touched new highs in early trading today as the currency pair continues to show signs of its bullish trend remaining strong.

Speculators of the USD/INR may be tempted to wager against the upside action the currency pair is attaining. However, under the present trading conditions of the USD/INR, selling positions should not be overly ambitious. Speculators shorting the USD/INR should only hope to pocket quick hitting profits based on the notion that reversals downward could prove to be temporary. Seeking a strong move lower could prove expensive short term.

Record Prices may Have Additional Roam to Traverse Higher Near Term for USD/INR

Traders who are simply looking to buy the USD/INR do need to be careful. Yes, the move higher has been impressive, but staying realistic is important while speculating in Forex. The move over the 79.0000 has been accomplished with a strong amount of momentum and psychologically speculators may be targeting the 80.0000 mark, but the next run higher may not ignite short-term.

If the 79.7000 Level is Surpassed Traders may Look for 80.0000 Psychologically in the USD/INR

While traders cannot be blamed for believing the 80.0000 is a legitimate goal, being able to time the potential rise could be difficult and costly if the USD/INR doesn’t produce the results wanted fast enough. Realistic targets are important while trading. Looking for technical resistance levels are difficult when record highs are being made, but waiting for slight reversals lower and anticipating a rebound higher which aims for resistance levels accomplished earlier in the day can prove to be worthwhile sometimes. Aiming above the higher marks needs patience and ability to emotionally remain calm.

• Record highs in USD/INR make the search for resistance difficult, but using price reversals lower and then aiming for recent highs is a realistic goal.
• Volatility as the USD/INR traverses new highs should be expected.

The mark of 79.6000 in the short term appears to be proving durable as resistance, but if this mark is toppled speculators could begin to look at the 79.7000 and 79.7500 levels as realistic. The USD/INR is historically a currency pair that delivers a significant amount of volatility with spikes suddenly erupting, particularly when the USD/INR receives its first initial wave of trading during each day. Today’s move higher was accomplished via a strong surge upwards early in the morning.

The USD has been strong across the board in Forex yesterday and today. The USD/INR may continue to see a swirl of activity in the near term as financial houses looks for equilibrium and consider the next moves by the U.S Federal Reserve and its implications for currency pairs. Traders looking to buy the USD/INR cannot be blamed, but stop loss and take profit orders should be used to make sure risk-taking tactics remain practical and do not result in costly mistakes. Record values sometimes lead to violent trading in Forex and the USD/INR may not be immune to this type of behavior.

USD/INR Short-Term Outlook

Current Resistance: 79.6300

Current Support: 79.3900

High Target: 79.9800

Low Target: 79.0300

GS

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ADA/USD has stumbled again and is within sight of important lower depths, as nervous sentiment in the broad cryptocurrency market remains evident.

ADA/USD is trading near the 48 and half cent ratio as of this writing. On the 26^th of June Cardano was able to touch the 52 and half cent level, but selling has certainly erupted again the past couple of days which has brought ADA/USD back to important lower values. Cardano remains a volatile cryptocurrency due to quick moves. In early trading this morning ADA/USD traded briefly near the 0.47220000 level.

The 42 cents to 56 cents price range has proven rather interesting since the middle of June.  ADA/USD remains within a long term bearish trend and its incremental loss of value is clear on technical charts. In the first week of September 2021, ADA/USD was trading above the 3.00000000 level. Those sunnier days now feel long gone, and traders who have been waiting for a sudden burst of strong upwards buying gaining sustained strength have been sorely disappointed.

The inability of ADA/USD to achieve sustained moves higher will keep bearish traders attention on support levels which lurk.  If ADA/USD can keep its head above the 48 cents level this may actually attract short term bullish buyers who want to aim for 49 cents and slightly above, but they should probably only look for very fast trades and use take profit orders to cash in. Because if the 48 and a quarter cent ratio were to suddenly come into focus, sellers could not be blamed for targeting values below again.

The broad cryptocurrency market continues to show signs of nervousness.  Yesterday’s trading began to produce incremental selling and the price action of ADA/USD has mirrored the results of the larger market. Cardano remains an important cryptocurrency with a market capitalization ranking at number 8. If ADA/USD technically falls below the 48 cents level this could be viewed as an indicator that additional nervous selling will build.

Lows in ADA/USD have continued to test marks within the 47 cents price range the past week of trading when downturns have occurred. Speculative sellers who believe another round of downwards momentum is going to develop may want to ignite shorts when ADA/USD has touched technical resistance areas perhaps around 0.48610000 if they are conservative. Traders should use entry price orders when trading ADA/USD because it moves fast. Speculators are also encouraged to use take profit and stop loss orders as risk taking tools within the current market conditions.

Cardano Short-Term Outlook

Current Resistance: 0.48860000

Current Support: 0.47990000

High Target: 0.49370000

Low Target: 0.45490000

DOT/USD has slumped the past handful of hours, after reaching a high water mark of nearly 8.4750 in early trading on Sunday.

DOT/USD is traversing slightly under the 8.0000 mark as of this writing; this after coming within looking distance of 8.5000 in yesterday’s trading. Sunday’s high of nearly 8.4740 touched values not seen since the 15^th of June. The abrupt selloff in Polkadot after reaching the technical high was strong and nervous conditions in the broad cryptocurrency market still exists, even after last week’s run up among many of the major digital assets.

The move lower in DOT/USD the past handful of hours is a fresh reminder that the long term bearish trend remains plainly in view.  Although DOT/USD is trading in the middle of its five-day technical chart, Polkadot remains locked near long term lows which have not been challenged for a sustained amount of time since December of 2020. Traders who are looking for further downside price action only have to look at results from one week ago to see Polkadot was below 7.4000.

However the near term range of DOT/USD has seen support hold rather demonstratively near the 7.7500 mark the past handful of days.  Certainly, optimistic bullish traders who believe the sun is set to come out in the world of cryptocurrency again are awaiting better upwards results, but the question is when a sustained rally will really be produced. Yesterday’s highs may have enticed some bullish speculation, but it does appear sellers were looking at yesterday’s apex junctures as a place to launch short positions.

Traders should remain cautious, the results the past week upwards in DOT/USD were solid, but the rather swift reversal seen the past handful of hours is a stark reminder fragile sentiment remains abundant.  If DOT/USD cannot sustain momentum above the 8.000 in the short term, skeptics may consider support near the 7.8800 level as a target for quick hitting selling positions. If the 7.8600 ratio were to suddenly falter, the next target below would likely be the 7.7500 mark.

Bullish traders who want to be part of a renewed upwards climb in DOT/USD should not be overly ambitious.  A positive move above the 8.0000 mark and a track towards the 8.1000 level would be good, but not a sign of a vast recovery in Polkadot. Until DOT/USD sustains strong price velocity upwards and breaks through the 8.5000 level – which it clearly did not do yesterday – Polkadot remains in a bearish grip, and could be considered a selling opportunity when brief reversals higher have been attained.

Polkadot Short-Term Outlook

Current Resistance: 8.1050

Current Support: 7.8600

High Target: 8.3700

Low Target: 7.6100

The USD/JPY has climbed again and the value of the Forex pair is testing heights not seen since September of 1998.

The USD/JPY is trading near a value of 136.580 as of this writing. The famed Forex pair is trading with a lot of volatility and spikes have been demonstrated. Trading the USD/JPY should be done by speculators who have experience; if people with a lack of historical knowledge want to trade the Japanese Yen they should use extreme risk management. In fact, speculators with a lot of experience should use extreme risk management too.

The USD/JPY did see some selling after the U.S Federal Reserve released its interest rate policy last week and a low of nearly 131.500 was seen on the 16^th of June.  This lower short term realm did come about after the USD/JPY had hit a high of nearly 135.500 on the 14^th of June. The USD/JPY not only has a proven track record of trending in a very clear manner, but it also has the capability to move with a lightning pace as financial institutions seek equilibrium.

When trading opened yesterday the USD/JPY was roaming around the 135.000 juncture, but upon suddenly bursting through the 135.500 vicinity, the pair developed serious price velocity upwards. A late night high in the USD/JPY yesterday flirted with the 136.750 level, while the USD/JPY has come off of this high it has not traversed much lower.

Traders may suspect and fear the USD/JPY cannot go much higher.  They may be tempted to sell the USD/JPY based on the notion that gravity will have to enter the market at some point and a bearish move will be ignited. However, timing the exact moment the USD/JPY is going to suddenly start to reverse and proceed downwards, breaking through support remains a nearly impossible task. In the meantime technical traders need to look at long term charts, correction – very long term charts, to gain a perspective regarding potential direction.

While it might seem hard to believe, the USD/JPY can trade higher.  In October of 1998 the USD/JPY was trading near the 139.000 juncture. And in July of 1999 the USD/JPY was trading near the 144.000 juncture. Current economic conditions globally are rather extraordinary, and the results of the USD/JPY have produced ratios financial institutions are not used too perhaps, but we have seen these numbers before.

Traders who can use risk management effectively may want to continue to wager on upside momentum. If the USD/JPY breaks above the 136.750 level and starts to challenge the 137.000 juncture and suddenly sustains power above this ratio, more surprises from the USD/JPY could develop upwards. Speculator need to use their risk management tactics wisely, this cannot be overstated. The USD/JPY will continue to produce volatile trading conditions.

USD/JPY Short-Term Outlook

Current Resistance: 136.710

Current Support: 136.050

High Target: 138.780

Low Target: 134.930

BNB/USD has been able to reverse from this weekend’s darkest depths, and this short term test of highs will certainly challenge the opinions of speculators.

BNB/USD is trading near 222.0000 as of this writing. This short term high is testing ratios seen on the 17^th of June when Binance Coin came within sight of the 220.0000 level also. However this past Saturday as most speculators know, BNB/USD moved towards a low on nearly 182.5000, as the broad cryptocurrency market experienced a wicked selloff of mammoth proportions. The ability of BNB/USD to climb higher is noteworthy, but the reversal likely doesn’t mean the long term bearish trend is dead.

BNB/USD has been able to produce a solid move higher in the past two days. But skeptical traders who believe more downside momentum is going to be generated may actually look at the recent results and consider selling positions around the current price levels. If BNB/USD is able to trade above the 222.0000 and sustain this price action it would be a positive sign, but Binance Coin likely needs to pass the 225.0000 juncture and show it can sustain this value to encourage additional technical buying speculators.

While the current move upwards may be encouraging to some traders, speculators who have pursued the long term bearish trend in the broad cryptocurrency markets remain strong as a group.  The downward trajectory of BNB/USD mirrors the overall price action of its major counterparts and the recent move higher may be looked upon as a ‘suckers rally’.

If BNB/USD were to build momentum from its current price this could certainly be enticing for short term moves targeting the 223.0000 to 225.0000 ratios. However, this move upwards could also trigger selling positions, which believe lower moves will be ignited based on the assumption bearish momentum will show its strength again.

Short term traders should be ready for choppy conditions over the next couple of days.  Reversals higher have certainly taken place and some traders may want to grasp for quick hitting buying positions which target nearby resistance as take profits goals. However, until a considerable amount of resistance levels are toppled, sellers may continue to dominate price action as they seek the return of strong declines in the broad cryptocurrency market including BNB/USD.

If BNB/USD is not able to maintain the 2220.0000 level and slips below the 220.0000 mark, sellers may begin to feel that shorting Binance Coin is worthwhile.  If BNB/USD begins to show signs of weakness and suddenly cannot maintain its lower support ratios of 220.0000 to 218.0000, further erosion could quickly develop.

Binance Coin Short Term Outlook:

Current Resistance: 225.5300

Current Support: 218.1900

High Target: 237.5000

Low Target: 189.1600

Risk appetite will have a lot to do with what happens next, and you need to pay attention to the rest of the world and how it’s behaving to give you a heads up as to how we go from here.

The DAX pulled back just a bit on Friday as we have pulled back to show signs of hesitation. As the DAX has found itself between the 50-day EMA underneath and the 200-day EMA above, it does make sense that we would see a lot of back-and-forth. After all, this attracts a lot of algorithmic trading, and is likely that we will see a lot of interest in both directions.

Keep in mind that the DAX has the 200-day EMA at the €14,800 level, and I think it’s likely that we would see quite a bit of a barrier just above. Keep in mind that the DAX is going to represent Europe on the whole, as it is the largest index and Germany is the largest economy. Because of this, the market is likely to continue seeing a lot of reaction to the concerns out of the ECB, as traders are starting to focus on the fact that they may have to raise interest rates. That being said, the market is likely to see a lot of volatility more than anything else, but you can say that about all indices at the moment.

If we break down below the 50-day EMA, then it’s likely that the DAX will drop to the €14,000 level. If we break it down below there, it’s likely that we will go looking to reach the €13,200 level. Alternately, if we were to break above the €14,800 level, and by extension the 200-day EMA, it opens up the possibility of an attempt to reach €15,000 above. In general, this index will probably outperform other European indices, so if you’re not sure what to do, quite often you compare them up by going long the DAX while shorting one of the smaller indices.

Looking at this chart, I think you see a lot of noisy behavior over the next couple of weeks, but if we were to somehow break above the €15,000 level, that would be the signal that the DAX is ready to recover. That being said, risk appetite will have a lot to do with what happens next, and you need to pay attention to the rest of the world and how it’s behaving to give you a heads up as to how we go from here.

ETH/USD is flirting with short-term highs as an intriguing reversal higher has formed and may stir the hearts of optimistic bullish speculators.

In early morning trading, ETH/USD has been able to topple the 2,000.00 juncture and touched a high briefly near the 2,224.00 ratio.  A downturn has occurred since the high value was achieved and ETH/USD as of this writing is below the 2,000.00 mark. However, ETH/USD has not seen a violent reversal lower and its ability to flirt with the 2,000.00 juncture may be enough to spark the interest of speculators who have bullish tendencies.

This morning’s price action will likely not be enough to create a vast sea change of speculative fever. On the 27^th of May ETH/USD was trading below the 1,700.00 price which had last been sincerely traded with high volumes in March of 2020. The long term bearish trend within the broad cryptocurrency markets cannot be proclaimed dead yet. Technical traders however will no doubt watch the 2,000.00 level with interest.

If Ethereum is able to jump the important psychological mark of 2,000.00 and sustain its value above, this would spark raised eyebrows.  From the 12^th until the 23^rd of May ETH/USD battled the 2,000.00 region and finally melted beneath the level, and began to seek new long term lows with a crushing amount of selling. The question day traders need to consider is if the rally being displayed now has legitimate staying power or if it will quickly disappear.

Short-term momentum traders who are aggressive may want to pursue the 2,000.00 target and slightly above for quick hitting trades.  The costs of transactions must be factored with such close by targets and this raises the potential that a larger amount of leverage is needed to create profitable results when trying to scalp ETH/USD with fast results – which carries significant risks if the market goes against the speculator. Traders who prefer momentum to be on their side may want to wait until Ethereum shows even better results.

If the 2,025.00 resistance level were to be challenged and penetrated higher this could spur on additional buying.  However, skeptical traders who continue to lurk and do not believe ETH/USD has seen the last of its bearish trend, may believe that if ETH/USD cannot muster much price action above the 2,010.00 to 2,025.00 price vicinities more selling will happen. Speculators looking for additional movement downwards may target the 1975.00 to 1965.00 marks cannot be blamed. Choppy conditions are likely to be seen short term and traders should remain cautious.

Ethereum Short-Term Outlook

Current Resistance: 2019.00

Current Support: 1939.00

High Target: 2078.00

Low Target: 1844.00

The USD/JPY is touching new long-term highs, and technical traders who are considering direction may feel as if they are looking into the clouds for answers.

The USD/JPY has continued its higher move in early trading today, following in the footsteps from the previous few days. Sustained trading above the 124.000 level the past week has spurred on the belief the USD/JPY could actually propel further upwards and challenge values it has not fully embraced since 2015. The USD/JPY did approach the 125.000 mark temporarily on the 28^th of March, but the past hours have seen the Forex pair break this resistance and become more emboldened.

As of this writing, the USD/JPY is traversing near the 125.450 level and traders may want to use seatbelts to securely position themselves while trying to speculate today. The last time the USD/JPY has traded at these heights was in June of 2015. Long-term charts need to be called upon by technical traders to gauge the landscape and consider where the USD/JPY will trade next. In early morning trading today, the USD/JPY did approach the 125.750 level before being slightly pushed back.

The ability of the USD/JPY to break past highs seen in late March, and sustain the loftier heights now being tested may make financial houses suspect new record highs can be achieved sooner rather than later. Yes, the USD/JPY has traded within this ‘landscape’ before, but to put it into perspective the USD/JPY traded above the 126.000 juncture in April of 2022. Folks, this means the last time the USD/JPY traded highs above the 126.000 mode was twenty years ago.  The sky must be searched by technical traders when looking at the loftier highs.

Speculators who are brave enough to swim the current volatile waters of the USD/JPY should use all of their risk-taking tactics in a razor sharp fashion. Conditions are likely to remain fast and volatile. It will be essential to monitor the USD/JPY carefully, and use entry price orders to step into the Forex pair without risking a sudden spike delivering a starting point in a trade that was unexpected. However, the intriguing thing is that the higher ground now being churned by the USD/JPY is actually producing rather stable prices.

Meaning the USD/JPY may in fact have the ability to go higher from its current levels.  If current resistance near the 125.550 to 125.600 levels becomes vulnerable, there may be a suspicion the 125.750 mark will be challenged again. If the 125.750 mark crumbles, traders may want to target the idea that 126.000 may be seen in the short term. Stop losses are highly urged for USD/JPY traders today.

USD/JPY Short-Term Outlook

Current Resistance: 125.800

Current Support: 125.010

High Target: 126.060

Low Target: 124.510